28. Rewards. Your credit card purchases are eligible to earn rewards points that never expire 
while the Account is open. Full rewards terms and conditions were provided to you at Account 
opening or as they were updated and are available at our website www.purduefed.com.

29. Skip Payment Option. At our option, we may offer you the opportunity to not make 
a Minimum Payment during certain designated billing cycles (“Skip Payment Period”). If 
you do not make your Minimum Payments as provided in this Agreement during the Skip 
Payment Period, you understand that we will continue to apply interest charges to your 
Account. Beginning with the billing cycle following an allowed Skip Payment Period, all other 
provisions of this Agreement will apply. We have no obligation to accept your application for 
any Skip Payment Period offered, and you authorize us to investigate your creditworthiness 
including obtaining consumer credit reports. We may charge you an application processing 
fee of $35 for each Skip Payment Period that we may offer to cover our costs of investigating 
your qualifications for this extension, including but not limited to the costs associated with 
researching your creditworthiness. You agree that we may amend the fee from time to time 
and by applying you consent to the applicable fee. 

Your Billing Rights: Keep This Document for Future Use
This notice contains important information 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:

Purdue Federal Credit Union
PO Box 1950
West Lafayette, IN 47996-1950

Or email us at mbrservice@purduefed.com

In your letter, give us the following information:
• Account information: Your name and account number., 
• Dollar amount: The dollar amount of the suspected error.
• 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:
• Within 60 days after the error appeared on your statement.
• 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:
• We cannot try to collect the amount in question, or report you as delinquent on that amount.
• The charge in question may remain on your statement, and we may continue to charge you 
interest on that amount.
• While you do not have to pay the amount in question, you are responsible for the remainder 
or your balance.
• We can apply any unpaid amount against your credit limit.

After we finish our investigation, one of two things will happen:
• 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.
• 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 first $50 of the amount 
you question even if your bill is correct. 

Your Rights If You Are Dissatisfied with your Credit Card Purchases. 
If you are dissatisfied with the good 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 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 dissatisfied with the purchase, contact us in 
writing at: 

Purdue Federal Credit Union
PO Box 1950
West Lafayette, IN 47996-1950

Or email us at mbrservice@purduefed.com

While we investigate, the same rules apply to the disputed amount as discussed above. After 
we finish 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.

PURDUE FEDERAL CREDIT UNION VISA DISCLOSURE STATEMENT
This table provides important information regarding your credit card account with 
Purdue Federal Credit Union.

Interest Rates and Interest Charges

Annual Percentage Rate (APR)
Rates apply to purchases, balance transfers and cash advances

Visa Traditional Rewards

Visa Signature

How to Avoid Paying 
Interest on Purchases

1.9% introductory APR for 12 months from date of 
account opening. After that, based on your credit worthiness, 
your APR will revert to your assigned APR of 
11.5% - 17.5% 
0% introductory APR for 12 months from date of account 
opening. After that, based on your credit worthiness, your 
APR will revert to your assigned APR of 
11.5% - 17.5% 
Your due date is at least 25 days after the close of each billing 
cycle. We will not charge you any interest on purchases if you 
pay your entire balance by the due date each month. We will 
begin charging interest on cash advances, convenience checks 
and balance transfers on the transaction date.

For Credit Card Tips from 
the Consumer Finance 
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.consumerfinance.gov/learnmore.

Fees

Annual Fee

Transaction Fees
• Balance Transfer
• Cash Advance
• Foreign Transaction

Penalty Fees
• Late Payment
• Returned Payment

None

• None

• None

• None - Signature
• Traditional Rewards - Up to 1% of each transaction after 
conversion to U.S. dollars

• Late Payment Fee up to $25.00

• Returned Payment Fee up to $25.00

How We Will Calculate Your Balance: We use a method called “average daily balance (including 
new purchases).” See your Cardholder Agreement for more details.

Loss of Introductory APR: We may end your Introductory APR and apply the assigned APR 
(11.5% - 17.5% APR, depending on your creditworthiness) if you make a late payment or make a 
payment that is returned.

Billing Rights: Information on your rights to dispute transactions and how to excercise those rights 
is provided in your Cardholder Agreement.

Visa® Traditional Rewards 
and Signature Credit 
Cardholder Agreement

PLEASE RETAIN THIS INFORMATION WITH OTHER FINANCIAL DOCUMENTS.

This Agreement covers each Visa credit card line of credit account (“Account”) you have with 
Purdue Federal Credit Union (“Purdue Federal”, “we” or “us”). The words “you” and “your” 
mean each and all of those who sign an Account application and any person authorized 
to access your Account or use your credit card. “Card” means a Visa credit card and any 
duplicates and renewals we issue. By requesting, signing, using or keeping your Card and/or 
Convenience Checks, you are agreeing to all the terms and conditions of this Agreement, Visa 
Application, Your Guide to Member Services, and the Fee Schedule, including the right to cross-
collateralization and the granting of a security interest as detailed below.

1. Using the Account. When you are approved for an Account, Purdue Federal establishes a 
line of credit for you and notifies you of your credit limit when the Card is sent to you. In order 
for your Card to be valid, you must sign your Card as soon as you receive it. By requesting, 
signing, using or keeping your Card and/or Convenience Checks, you accept this Agreement. 
You agree not to let your Account balance exceed your approved credit limit. Each payment 
you make on the Account will restore your credit limit by the amount of the payment that is 
applied to the principal balance. You may request an increase in your credit limit by submitting 
an application, which may be approved by Purdue Federal. Purdue Federal has the right to 
restrict, increase, reduce or terminate your credit limit at any time without notice.

2. Using the Card. You may use your Card to make purchases in person or by mail, telephone 
or internet from merchants and others who accept Visa cards. In addition you may obtain cash 
advances from Purdue Federal, other financial institutions participating in the Visa program 
and select Automated Teller Machines (ATMs), such as Visa ATM Network, that provide access to 
the Visa system (not all ATMs provide such access). You will need to use your Personal Identifi-
cation Number (PIN) to obtain a cash advance from an ATM. We will begin charging interest on 
your cash advance from the date of your cash advance transaction. Your card may not be used 
for any illegal transaction, including any illegal Internet gambling transaction.

3. Using Convenience Checks. We may supply you with convenience checks from time to 
time. You may use these checks to draw on your available line of credit on your Account. A 
convenience check drawn on your Account is a loan from Purdue Federal to you and will be 
treated like a cash advance under this Agreement. We will begin charging interest on the 
amount of the Convenience Check from the date of the Convenience Check transaction.

4. Overdraft Protection. If you have requested your Account to be used to provide 
Overdraft Credit Card Protection Plan (the “Plan”) for a checking account maintained with 
Purdue Federal, funds may be transferred from your Visa Account to the checking account in 
accordance with Your Guide to Member Services governing the checking account. All funds 
will be transferred in increments of $100 and are processed as a cash advance under this 
Agreement and treated as such. Such transfers are loans by us to you. You will owe Purdue 
Federal for the amount of such transfers plus the applicable interest. You understand that 
anyone who is authorized to make withdrawals from the checking account may access your 
Visa Account through the Plan.

PO Box 1950  //  West Lafayette, IN 47996-1950
765.497.3328  //  800.627.3328  //  purduefed.com

Federally insured by NCUA.

5. Responsibility. You agree to pay all charges, purchases, transfers, and cash advances 
made from your Account by you or anyone who you authorized to use your Account. Your 
obligation to pay the amount owed on your Account continues until paid in full, even though 

02/16

an agreement, divorce decree or other court judgment to which Purdue Federal is not a 
party may direct someone else to pay the Account balance. If more than one person signed 
the Application, each is individually responsible for all amounts owed on the Account and 
all are jointly responsible for all amounts owed. This means Purdue Federal can enforce this 
Agreement against any of you individually or all of you together.

6. Making Payments. You promise to pay all amounts you owe on your Account, including 
any interest or fees. When you receive your billing statement you may pay the full amount 
due or a lesser amount, but the least you may pay is the minimum payment amount shown 
on your billing statement. Your minimum payment will be any amount that is past due, any 
amount exceeding your credit limit, plus the larger of 3% of your new balance or $25 (the 
“Minimum Payment”). If we elect not to require a Minimum Payment for a month or longer 
period, the interest on your Account will continue to accrue at the applicable interest  rate. 
Paying ahead and skipping a payment will not reduce your liability for interest charges in the 
month that you do not make a payment. Whatever you choose to pay, your payment must be 
received by us no later than the payment due date shown on your statement. All payments 
made to us must be in U.S. dollars. Mailed payments must be addressed as directed on your 
statement. Mailed payments received by 5:00 PM Eastern at that address will be credited the 
same day. In some cases, available credit may be delayed until payment is verified. We will 
accept late or partial payments without forfeiting any of our rights under this Agreement. 
Payments that are marked “paid in full” and that are of an amount less than the balance on 
your Account, or that are marked with any other restrictive endorsements, should be sent to 
1551 Win Hentschel Blvd., West Lafayette, IN 47996, Attn: Loan Services.

7. Interest Charges. Interest charges for purchases, balance transfers, and cash advances 
are determined by applying the applicable periodic rate to the separate average daily balance 
for each category of purchases, balance transfers, and cash advances. Each average daily 
balance is determined by taking the beginning balance (of cash advances, balance transfers, 
or purchases) in your Account each day, adding any new purchases, balance transfers, or cash 
advances and subtracting any payments,credits, and unpaid interest charges and fees. The 
results are the average daily balances for each category. We then add together all the daily 
balances for the billing cycle and divide the total by the number of days in the billing cycle to 
get to the average daily balance for each category. If a grace period applies:

 (a) Purchases. Interest will be charged on a purchase posted during a billing cycle when the 
entire balance is not paid in full by the due date of that statement. Your due date is at least 25 
days after the close of each billing cycle.

(b) Cash Advances. Interest will be charged on cash advances from the date of the transaction 
to the date paid in full. Interest accrued on cash advances will appear on your next statement. 
There is no time period in which to pay back the cash advance to avoid interest charges.

cash advance balances, balance transfer balances, and purchase balances. Excess payments 
over the Minimum Payment will be applied to the applicable balance with highest interest rate 
and any remaining payment to next highest interest rate in descending order.

10. Security Interest and Statutory Lien. 

a. You acknowledge and pledge, specifically as a condition of your use of the 
Card and Account, that you have voluntarily granted to Purdue Federal a security 
interest in your shares and dividends on deposit in all your individual and joint 
accounts with Purdue Federal now and in the future. These other shares may 
be withdrawn unless you are in default under this Agreement. If your credit 
card Account becomes delinquent, this security interest may be used without 
further notice to pay all or any part of such delinquency. Shares and deposits in 
an Individual Retirement Account and any other account that would lose special 
tax treatment under state or federal law if given as security are not subject to the 
security interest you give in your shares and deposits.

b. You also acknowledge and pledge to Purdue Federal a security interest in the 
collateral securing any other loan(s) that you have with us now and in the future, 
including any type of change or increase, and any proceeds from the sale of such 
collateral and of insurance thereon, not to exceed the unpaid balance of this loan. 
This security interest in collateral securing other loans does not apply to any loan(s) 
on your primary residence.

11. Default. You will be in default if a) you fail to make any Minimum Payment or other 
required payment by the date it is due; b) you violate any terms of this Agreement or fail to 
perform any of your obligations under this Agreement; c) your ability to repay is materially 
reduced by a change in your employment, by an increase in your obligations, by bankruptcy 
or insolvency proceedings involving you, or by your death or incapacity; d) you make any false 
or misleading statements in any credit applications or credit update; e) Purdue Federal, in its 
sole discretion, feels insecure and has a good faith belief that your ability to repay is impaired 
or you use your Account in a manner that may expose Purdue Federal to a risk of loss; or f) you 
use or authorize the use of your Card to make or facilitate any illegal transaction. When you 
are in default, Purdue Federal has the right to close your Account to future purchases, cash 
advances, and balance transfers, to cancel or inactivate your Card, and to demand immediate 
payment of your entire Account balance (after giving you any notice and opportunity to 
cure the default if required by applicable law). If immediate payment is demanded, you will 
continue to pay interest at the periodic rate charged before default, until what you owe has 
been paid and any collateral given as security will be applied toward what you owe or sold 
pursuant to law. To the extent permitted by law, you will also be required to pay Purdue 
Federal’s collection expenses, including court costs and reasonable attorneys’ fees.

(c) Balance Transfers. Balance transfers will be processed as cash advances and interest will 
be charged from the date of the transaction to the date paid in full. Interest accrued on 
balance transfers will appear on your next statement. There is no time period in which to pay 
the balance transfer to avoid interest charges. We are not responsible for late payment or 
nonpayment of balances with other card issuers.

12. Liability for Unauthorized Use. Your Purdue Federal Visa offers “zero liability” for 
unauthorized use. To obtain the “zero liability” status you must report any unauthorized use of 
your Account immediately. If you notice the loss or theft of your Card or possible unauthorized 
use of your Card or Account, you should notify us immediately by calling 800.627.3328, email 
us at mbrservice@purduefed.com or write to PO Box 1950, West Lafayette, IN 47996-1950.

8. Monthly Payment. Each month you must pay at least the Minimum Payment shown on 
your statement by the date specified on your statement. You may pay more frequently, pay 
more than the Minimum Payment, or pay your balance in full. If you make extra payments or 
larger payments, you are still required to make at least the Minimum Payment each month 
your Account has a balance. 

9. Payment Allocation. Subject to applicable law, your Minimum Payment will be applied to 
what you owe Purdue Federal in the following order: interest, fees, promotional rate balances, 

13. Use of Card for Illegal or Risky Transactions. It is your responsibility to comply with 
all laws when using your Card and Account. You agree to hold us harmless for any damages 
or other liability arising from a transaction initiated by you or your authorized user for the 
purpose of conducting an illegal activity. We reserve the right to decline the authorization 
of transactions for activities we believe may violate law or pose significant risk to us or our 
members. 

14. Changing or Terminating Your Account. Purdue Federal may change the terms of this 

Agreement from time to time after giving you advance notice as required by law. Your use 
of the Card after receiving notice of a change will indicate your agreement to the change. To 
the extent the law permits, and indicated in the notice to you, the change will apply to your 
existing Account balance as well as to future transactions. Either you or Purdue Federal may 
terminate this Agreement at any time, but termination by you or Purdue Federal will not affect 
your obligation to pay the Account balance plus any interest, fees and other charges you owe 
under this Agreement. The Cards you receive remain the property of Purdue Federal and you 
must recover and surrender to Purdue Federal all Cards upon request or upon termination 
of this Agreement whether by you or Purdue Federal. If you choose not to accept any future 
change of these terms, your credit limit will be removed and your Minimum Payment will be 
calculated based on a five-year amortization schedule. To opt out of a future change to these 
terns, Purdue Federal requires written notice by electronic mail to mbrservice@purduefed.com 
or by postal mail to PO Box 1950, West Lafayette, IN 47996-1950.

15. Consumer Reporting Agencies. Purdue Federal may report information about your 
Accounts to credit bureaus. Late payments, missed payments, or other defaults on your 
Account may be reflected in your credit report. We may also access your credit report for any 
permissible purpose under the Fair Credit Reporting Act, including periodic reviews of your 
creditworthiness, collections, and future credit line increases. 

16. Returns and Adjustments. Merchants and others who honor the Card may give credit 
for returns or adjustments, and they will do so by sending Purdue Federal an electronic 
credit, which will be posted to your Account. If your credits and payments exceed what you 
owe Purdue Federal, the amount will be credited to your Account. Any credits exceeding your 
balance will be transferred to your savings account within 30 days.

17. Foreign Transactions. Purchases and cash advances made in foreign countries and 
foreign currencies will be billed to you in U.S. dollars. The conversion rate to U.S. dollars will be 
made in accordance with the operating regulations for international transactions established 
by Visa U.S.A. The conversion rate to U.S. dollars will be a rate selected by Visa from the range 
of rates available in wholesale currency markets for the applicable central processing date, 
which may vary from the rate Visa itself receives, or the government-mandated rate in effect 
for the applicable central processing date, in each instance,. Traditional Card holders will be 
charged an International Service Assessment (ISA) fee, up to 1% of the foreign transaction 
amount based on whether the transaction is processed in U.S. dollars or converted to U.S. 
dollars. All transactions, including online transactions, that may have been originated by the 
cardholder in the U.S., but are processed by a foreign merchant are subject to this fee. You may 
not receive prior notification from the merchant that your transaction is processed overseas.  
The ISA fee is waived for Signature Card holders.

18. Merchant Disputes. Purdue Federal is not responsible for the refusal of any merchant or 
financial institution to honor the Card. 

19. Effect of Agreement. This Agreement is the contract that applies to all transactions 
on your Account even though the sales, cash advances, credit or other slips you sign or 
receive may contain different terms. You agree to all the terms and charges contained in this 
Agreement. 

20. No Waiver. Purdue Federal can delay enforcing any of its rights any number of times 
without losing these rights.

21. Statements and Notices. You will receive a statement each month showing transactions 
on your Account. Statements and notices will be mailed to you at your physical address 
or posted to Online Banking if you have enrolled in electronic statements. Enrollment in 
electronic statements for your primary share savings account applies to this Account.. Notice 
sent to any one of you will be considered a notice to all. You consent to your Credit Card 

Account statement being included in the mailing of the primary share savings 
account statement even if all owners on the primary savings are not signers on 
this loan or authorized users of the Card. Statements may not be generated when there 
are no transactions on the Account in that month. It is your responsibility to notify Purdue 
Federal upon a change of address—electronic mail or postal mail. You understand and agree 
that statements are made available to you on the date they are mailed to you or the date on 
which email notification advising that your statement is available is sent. If you fail to receive 
a statement you agree to notify us within fourteen (14) days of the time you regularly receive 
a statement. 

22. Other Fees. Fees that apply will be added to your Account on the monthly statement for 
the billing cycle in which they are incurred, as follows:

a) Late Payment Fee– A late fee in the amount of $25 or the Minimum Payment due rounded 
to the whole dollar, whichever is less, will be charged if we do not receive your minimum 
payment on or before the payment due date as noted on your statement.

b) Returned Payment Fee – A fee up to $25 will be charged if you (i) make a payment on your 
Account with a check, draft, negotiable order of withdrawal, ACH, external transfer, or similar 
payment drawn on a depository institution and such payment is not paid or is dishonored by 
that financial institution, or (ii) issue a Convenience Check  which causes you to exceed your 
approved credit limit.

 c) Statement Copy – A $5 fee will be charged for any copy of a statement that you request 
from Purdue Federal. For a copy of an original sales slip requested from Visa, you will be 
charged their applicable fee.

The charges and Fees will be treated by Purdue Federal as an adjustment to the Account 
balance and will not be subject to an interest charges; however, we may choose to waive any 
of the interest charges or fees described in this Agreement or the Fee Schedule from time to 
time.

23. Savings Account Required. All Purdue Federal Account owners must have an open 
savings account with a $5.00 minimum balance. If you do not have a savings account, one will 
be opened for you at the time of your credit card application approval. If your balance is less 
than $5.00, your Card may be charged with a purchase transaction to bring your balance to the 
minimum. 

24. Personal Identification Number (PIN). Upon request we will furnish you with a 
Personal Identification Number (PIN). You agree to keep the PIN confidential. You also agree 
that use of the PIN and Card to obtain a cash advance or make a purchase constitutes your 
signature for purposes of such transactions.

25. How We May Contact You. You expressly agree that to service your Account or to collect 
any amounts you may owe Purdue Federal, we or authorized parties may call you and send 
text messages to you. We may use pre-recorded/artificial voice messages or an automatic 
dialing device to contact you at any telephone number associated with your account, including 
mobile telephone numbers, all of which could result in charges to you. You also expressly 
consent that we may send email messages regarding your Account to any email address that 
you have provided to us. 

26. Optional Insurance. We may have offered credit life, accident, health, or loss-of income 
insurance at the time you applied for your Account. This insurance is not required to have an 
Account or Card with us.

27. Inactive Accounts. Accounts with expired Cards that have no activity for a period of 24 
months will be closed. Any rewards points accrued with this Card or Account will expire when 
the Account is closed.