Interest Rates and Interest Charges

VISA®  CLASSIC AGREEMENT AND DISCLOSURE

M-107518

Annual Percentage Rate (APR) for Purchases

14.99%
Other APRs: For Balance Transfers and Cash Advances 14.99%
Paying Interest

Pay full amount of the New Balance of Purchases within 25 days of 
your statement closing date. We will begin charging interest on cash 
advances and balance transfers on the transaction date.

Minimum Interest Charge

None

For Credit Card tips from the Consumer Financial 
Protection Bureau

To learn more about factors to consider when applying for or using 
a credit card, visit the website of the Consumer Financial Protection 
Bureau at http://www.consumerﬁ nance.gov/learnmore.

Fees

Annual Fee

Transaction Fees:
Cash Advance

Foreign Transaction

Penalty Fees:

Over the Limit
Late Payment
NSF

None

2% of transaction amount or $2 minimum
($5 additional fee for advances via phone)
1% of U.S. dollar transaction amount

None
Up to $25 assessed on the 15th day after the stated due date
Up to $25/item (Check, Visa AutoPay or other electronic means)

How We Will Calculate Your Balance: We use a method called “average daily balance” (including new purchases). 
Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in this account agreement.
Lost Card Reissue........$10
Other Fees:  Document Copy............$5 max/item 

The information appearing on this Agreement is accurate as of January 1, 
2013. This information may have changed after that date. To ﬁ nd out what 
may have changed, call us at 651.291.1515 or 800.899.5626 or write us at 
Hiway Federal Credit Union, 111 Empire Drive, St. Paul, MN 55103. To 
report lost/stolen cards, call 800.449.7728.

The purpose of this Visa Credit Card Agreement and Disclosure is to 
establish the terms and conditions of a Visa Credit Card line of credit. In this 
Agreement the words “you” or “your” mean each and all of those who sign 
the application, or use the credit card(s), duplicate card(s) or convenience 
check(s). The words “we”, “us”, or “our” refer to Hiway Federal Credit 
Union (Hiway) or its successors and assigns. The word “card” means your 
Hiway Visa Credit Card and any duplicates, renewals or substitutions 
(including convenience checks) we issue to you. The word “account” means 
your Visa Credit Card line of credit account with Hiway.

Security Interest: We shall have a lien or the right to impress a lien 
on shares and deposits now or in the future for sums due to us as 
provided by the Federal Credit Union Act or law, as the case may 
be. Such a right will not apply to an Individual Retirement Account 
or other tax-deferred retirement accounts in accordance under the 
Internal Revenue Code. The granting of this security interest is a 
condition for receiving this credit card account. You authorize us 
to apply the balance in your individual or joint savings accounts 
to pay any amounts due on your account if you should default. We 
shall have the right to apply the proceeds of any collateral, with 
the exception of dwelling secured transactions, now or hereafter 
pledged to us to secure payment of your unpaid balance.

1.  Card Use: Once approved, you will receive a line of credit with a credit 
limit determined by us. You agree that your credit limit is the maximum 
amount (purchases, cash advances, interest charges, plus other charges) that 
you will have outstanding on your account at any one time. If you are over 
your credit limit, you must pay the amount you are over before payments 
will begin to restore your credit limit. You may use your card(s) for goods 
and services from merchants and others who accept Visa. However, this 
Visa account may not be used for any illegal transaction. If you wish to pay 
for goods or services over the Internet, you may be required to provide card 
number security information before you will be permitted to complete the 
transaction. If our system is not working, we may not be able to authorize 
a transaction, even though you have sufﬁ cient credit available. Also for 
security reasons, we may block the use of your card in certain countries or 
geographic areas. We will have no liability to you or others if any of these 
events occur. In addition you may obtain cash advances from us or from 
other ﬁ nancial institutions that accept Visa cards, or from some automated 
teller machines (ATM) displaying the Visa logo. To obtain cash advances 
from an ATM, you must use the Personal Identiﬁ cation Number (PIN) that 
is issued to you for use with your card. You may request an increase in 
your credit limit only by a method acceptable to us. We reserve the right 
to increase or decrease your credit limit, refuse to make an advance and/
or terminate your account at any time for any reason not prohibited by law 
without affecting your obligation to pay the account balance. 
2.  Agreement of Terms: We have opened this account at your request. Your 
signature on the application, your acceptance of an offer, your retention of 
the card or checks and/or your use of the account in any way means you 

agree to all the terms of the Agreement and you will be obligated by this 
Agreement unless you cancel the account and return the card and checks 
before you use them. 
3.  Responsibility: You agree to pay all charges on this account that are 
made by you or anyone whom you have authorized to use it. This includes 
all purchases, cash advances, interest charges and other charges or fees added 
to your account under the terms of this Agreement. If this is a joint account, 
each person on the account will be individually and jointly responsible for 
paying all amounts owed under this Agreement. This means that we can 
require any one of you individually to repay the entire amount owed under 
the Agreement. Each of you authorizes the other(s) to make credit purchases 
or cash advances individually. Any one of you may terminate the account and 
the termination will be effective to all of you. You also agree to pay any fees 
or charges incurred in the recovery of a credit card, retrieval of transaction 
data or collection of this account.
4.  Monthly Payment: You must pay at least the minimum payment by 
the date speciﬁ ed on the statement. The Minimum Payment will be either 
a) 3% of your Total New Balance or $25, whichever is greater, or b) your 
Total New Balance, if it is less than $25, plus any portion of the Minimum 
Payment(s) shown on prior statement(s) which remains unpaid. In addition, 
at any time your Total New Balance exceeds your credit limit, you must 
immediately pay the excess upon demand. Payments received by 5:00 p.m. 
on the due date will not be considered late. Any payment received after 5:00 
p.m. will be processed on the next business day. Subject to applicable law, 
your minimum payment may be applied to what you owe us in any manner 
we choose. If you pay more than the minimum payment, your payment will 
be applied to the highest APR ﬁ rst.
5.  Interest Charge: You may avoid an INTEREST CHARGE on new 
Credit Purchases by paying the full amount of the New Balance of Purchases 
each month within 25 days of your statement closing date. Otherwise the 
New Balance of Purchases and subsequent purchases from the date they are 
posted to your account, will be subject to an INTEREST CHARGE. Cash 
advances are always subject to an INTEREST CHARGE from the date they 
are posted to your account. The INTEREST CHARGE Calculation Method 
applicable to your account for Cash Advances and Credit Purchases of goods 
and services that you obtain by using your card is explained below and also 
appears on your monthly statement. Cash Advance INTEREST CHARGES 
calculated using Method F. Credit Purchase INTEREST CHARGES 
calculated using Method G.     
Method F: The INTEREST CHARGES on Cash Advances for a billing 
cycle are computed by applying the monthly Periodic Rate to the average 
daily balance of Cash Advances, which is determined by dividing the sum 
of the daily balances during the billing cycle by the number of days in 
the cycle. Each daily balance of Cash Advances is determined by adding 
to the Previous Balance of Cash Advances any new Cash Advances as of 
the transaction date or the ﬁ rst day of the billing cycle in which posted, 
whichever is later, and subtracting any payments as received and credits as 
posted to your account, but excluding any unpaid INTEREST CHARGES.
Method G: The INTEREST CHARGES on Credit Purchases for a billing 
cycle are computed by applying the monthly Periodic Rate to the average 
daily balance of Credit Purchases, which is determined by dividing the sum 
of the daily balances during the billing cycle by the number of days in the 
cycle. Each daily balance is determined by adding to the Previous Balance 
of Credit Purchases posted to your account and subtracting any payments 
as received and credits as posted to your account, but excluding any unpaid 
INTEREST CHARGES. 

The monthly periodic rate for purchases, cash advances and balance transfers 
is 1.249%, which is an ANNUAL PERCENTAGE RATE of 14.99%.
6.  Collection Costs: In the event of a suit to collect unpaid balances, you 
agree to pay all costs, including attorney’s fees as may be reasonable and 
just, and also those costs, expenses and any attorney’s fees incurred in 
appellate, bankruptcy and post-judgement proceedings, except to the extent 
that such costs, fees or expenses are prohibited by law.
7.  Changing or Terminating Your Account: We may change the terms 
of this Agreement from time to time. Notice of any change will be given 
in accordance with applicable law. Your use of the card after receiving any 
notice of a change to this Agreement will indicate your acceptance of the 
change. If permitted by law and speciﬁ ed in the notice to you, the change 
will apply to your existing account balance as well as any future transactions. 
Either you or we may terminate this account at any time, but termination 
by you or us will not affect your obligation to pay the full balance plus 
any interest and other charges you owe under this Agreement. You are also 
responsible for all transactions made to your account after termination, 
unless transactions were unauthorized. All cards on this account remain the 
property of the credit union and must be surrendered to us upon request 
or upon termination of this account by you or us. If this is a joint account, 
section #3 also applies to termination of the account.
8.  Account Default: The account and Agreement will be in default if any of 
the following occur:

a. You fail to make any minimum payment or other required payment that     
is due.
b. You fail to abide by all terms and conditions of this Agreement.
c. You fail to keep any promises to pay in connection with this account.
d. You die, become incapacitated, ﬁ le bankruptcy or you are unable to 
pay your ﬁ nancial obligations when due.
e. You make false or misleading statements in any credit application or 
credit update.
f. Upon re-evaluation, we believe your ability to pay what you owe is 
substantially reduced.
g. Your creditworthiness becomes unsatisfactory to us because of a 
change in your employment, an increase in other obligations, excessive 
open credit card accounts, other delinquent loans, over limit or other 
reason.  

In the event of default, we have the right to demand that the entire amount 
owed on the account becomes due and payable immediately. If immediate 
payment is demanded, you agree to continue paying any fees and interest 
charges, at the periodic rate prior to default, until what you owe has been 
paid.  
9.  Foreign Transactions: Purchases and cash advances made in foreign 
currencies will be debited from your account in U.S. dollars. The exchange 
rate between the transaction currency and the billing currency used for 
processing international transactions is a rate selected by Visa from a range 
of rates available in wholesale currency markets for the applicable central 
processing date, which rate may vary from the rate Visa itself receives or 
the government mandated rate in effect for the applicable central processing 
date. The exchange rate used on the processing date may differ from the 
rate that would have been used on the purchase date or cardholder statement 
posting date. All transactions posted outside of the United States (which may 
include Internet transactions) will be charged a foreign transaction fee.
10.  Credit Review and Release of Information: You understand that we 
may review your loan ﬁ le at least once every 12 months and you hereby 
give us permission to and authorize us to investigate and re-assess your 
creditworthiness. You authorize us to investigate your credit standing at any 
time and you authorize us to disclose your account information to credit 
bureaus and other creditors who inquire about your credit standing.
11.  Additional Beneﬁ ts/Card Enhancements: We may from time to time 
offer additional services to your account at no additional cost to you. You 
understand that we are not obligated to offer such services and may withdraw 
or change them at any time.
12.  Merchant Disputes: We are not responsible for the refusal of any 
merchant or ﬁ nancial institution to honor your card. We are subject to claims 
and defenses (other than tort claims) arising out of goods or services you 
purchase with the card if you have made a good faith attempt but have been 
unable to obtain satisfaction from the merchant or service provider and (a) 
your purchase was made in response to an advertisement we sent to you or 
(b) your purchase cost more than $50 and was made within your home state 
or within 100 miles of your current mailing address.
13.  No Waiver: We can delay enforcing any of our rights any number of 
times without losing them.
14.  Statements and Notices: Statements and notices will be mailed to you 
at the most recent address you have given us. Notice sent to any one of you 
will be considered notice to all.
15.  Governing Law: This Agreement and your account will be governed by 
the laws of the State of Minnesota and by federal law.
16.  Liability for Unauthorized Use: Unless you have been grossly 
negligent or have engaged in fraud, you will not be liable for any 
unauthorized transaction using your lost or stolen Visa Credit Card. This 
limit on liability does not apply to ATM transactions or to transactions using 
your Personal Identiﬁ cation Number (PIN) which are not processed by Visa, 
or to commercial cards. If you are liable for unauthorized transactions, your 
liability will not exceed $50. In addition, even in these circumstances you 
will not be liable for unauthorized transactions that occur after you notify us 
orally or in writing, of the loss, theft or possible unauthorized use.
17.  Illegal Use: You agree that illegal use of any ﬁ nancial service will be 
deemed an action of default and/or breach of contract and such service 
and/or other related services may be terminated at our discretion. You further 

agree, should illegal use occur, to waive the right to sue us for such illegal 
activity directly or indirectly related to it. You also agree to indemnify and 
hold us harmless from any suits or other legal action or liability, directly or 
indirectly, resulting from such illegal use.

Your Billing Rights—Keep This For Future Use
This notice tells you about your rights and our responsibilities under the Fair 
Credit Billing Act.

What To Do If You Find a Mistake on Your Statement
If you think there is an error on your statement, write to us at: Customer 
Service, PO Box 31112, Tampa, Florida 33631-3112. In your letter, give us 
the following information: (a) account information; your name and account 
number, (b) dollar amount; the dollar amount of the suspected error and (c) 
description of problem; if you think there is an error on your bill, describe 
what you believe is wrong and why you believe it is a mistake.

You must contact us: (a) within 60 days after the error appeared on your 
statement and (b) at least 3 business days before an automated payment is 
scheduled, if you want to stop payment on the amount you think is wrong.

You must notify us of any potential errors in writing. You may call us, but if 
you do we are not required to investigate any potential errors and you may 
have to pay the amount in question.

What Will Happen After We Receive Your Letter
When we receive your letter, we must do two things:
1. Within 30 days of receiving your letter, we must tell you that we received 
your letter. We will also tell you if we have already corrected the error.
2. Within 90 days of receiving your letter, we must either correct the error or 
explain to you why we believe the bill is correct.
While we investigate whether or not there has been an error: (a) we cannot 
try to collect the amount in question, or report you as delinquent on that 
amount, (b) the charge in question may remain on your statement and we 
may continue to charge you interest on that amount, (c) while you do not 
have to pay the amount in question, you are responsible for the remainder of 
your balance, (d) we can apply any unpaid amount against your credit limit.

After we ﬁ nish our investigation, one of two things will happen:
1. If we made a mistake: You will not have to pay the amount in question or 
any interest or other fees related to that amount.
2. If we do not believe there was a mistake: You will have to pay the amount 
in question, along with applicable interest and fees. We will send you a 
statement of the amount you owe and the date payment is due. We may then 
report you as delinquent if you do not pay the amount we think you owe.

If you receive our explanation but still believe your bill is wrong, you must 
write to us within 10 days telling us that you still refuse to pay. If you do 
so, we cannot report you as delinquent without also reporting that you are 
questioning your bill. We must tell you the name of anyone to whom we 
reported you as delinquent, and we must let those organizations know when 
the matter has been settled between us.

If we do not follow all of the rules above, you do not have to pay the ﬁ rst 
$50 of the amount you question even if your bill is correct.

Your Rights If You Are Dissatisﬁ ed With Your Credit Card Purchases
If you are dissatisﬁ ed with the goods or services that you have purchased 
with your credit card, and you have tried in good faith to correct the problem 
with the merchant, you may have the right not to pay the remaining amount 
due on the purchase.

To use this right, all of the following must be true:
1. The purchase must have been made in your home state or within 100 miles 
of your current mailing address, and the purchase price must have been more 
than $50. (Note: Neither of these are necessary if your purchase was based 
on an advertisement we mailed to you, or if we own the company that sold 
you the goods or services.)
2. You must have used your credit card for the purchase. Purchases made 
with cash advances from an ATM or with a check that accesses your credit 
card account do not qualify.
3. You must not yet have fully paid for the purchase.

If all of the criteria above are met and you are still dissatisﬁ ed with the 
purchase, contact us in writing at: Customer Service, PO Box 31112, Tampa, 
Florida 33631-3112.

While we investigate, the same rules apply to the disputed amount as 
discussed above. After we ﬁ nish our investigation, we will tell you our 
decision. At that point, if we think you owe an amount and you do not pay, 
we may report you as delinquent.

CS421 1/13