Platinum Share Secured 

CREDIT CARD AGREEMENT

NOTICE: See reverse side for important information regarding your rights to dispute billing errors.
SEE THE ACCOUNT OPENING DISCLOSURE WHICH ACCOMPANIES THIS AGREEMENT

P.O. Box 1411
Modesto, CA 95353-1411 
(209) 549-8500
(877) 549-4567
valleyfirstcu.org

In this Agreement, the words (“you”) and (“your”) mean: (a) the person or persons who use or authorize the use of, or (b) who sign an application for a Valley 
First Credit Union Visa® Platinum Share Secured Credit Card. (“Card”) means the Valley First Credit Union Visa Platinum Share Secured Credit Card and any 
duplicates and renewals the Credit Union issues to you. (“Account”) means your Visa Platinum Share Secured Credit Card line of credit account with the Credit 
Union. (“Credit Union”) means Valley First Credit Union.

1.    Using the Account. If your application for a Visa Credit Card Account is 
approved, the Credit Union will establish a line of credit for you and notify you 
of its amount when the card is sent to you. 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 which is 
applied to the principal amount of purchases and cash advances. You may 
request  an  increase  in  your  credit  limit  in-person  by  submitting  a  written 
application to the Credit Union; or online; or by telephone. The Credit Union 
has the right to reduce or terminate your credit limit at any time.
2.    Using the Card. You may use your card to purchase goods and services 
in person, online, and by mail or telephone from merchants and others who 
accept Visa credit cards. In addition, you may obtain cash advances from the 
Credit Union, from other financial institutions or select merchants participating 
in the Visa program and from automated teller machines (ATMs), such as Visa 
ATM Network, that provide access to the Visa system. (Not all merchants or 
ATMs provide such access.) You will need to use your Personal Identification 
Number (PIN) to obtain a cash advance from an ATM. 
3.    Illegal  Use  of Visa  Credit  Card. You  agree  that  your  Visa  Platinum 
Share  Secured  Credit  Card  Account  will  not  be  used  to  make  or  facilitate 
any  transaction(s)  that  are  or  might  be  construed  to  be  illegal  pursuant  to 
applicable law, rule or ordinance, including but not limited to gambling. Said 
use, including any such authorized use, will constitute an event of default under 
this Agreement. You agree that the Credit Union has no liability, responsibility or 
culpability whatsoever for any such use by you or any authorized user(s). You 
agree that you are responsible for repayment of any and all debts incurred for 
these transactions. You further agree to indemnify and hold the Credit Union 
harmless from any suits, liability, damages or adverse action of any kind that 
results directly or indirectly from such illegal use.
4.    Responsibility.  You  agree  to  pay  all  charges  (purchases  and  cash 
advances) to your account made by you or anyone who you authorize to use 
your account. You also agree to pay all other charges added to your account, 
pursuant to Paragraph 7. Your obligation to pay the amount owed on your 
account continues until paid in full even though an agreement, divorce decree 
or other court judgment to which the Credit Union is not a party may direct 
someone else to pay the account balance. Each of you who signs the application 
for a card, or who use the account is individually and jointly responsible for 
all amounts owed on the account. This means the Credit Union can enforce 
this Agreement against any of you individually or all of you collectively.
5.    Finance Charges. For Credit Purchases - A FINANCE CHARGE will 
be imposed on Credit Purchases only if you elect not to pay the entire New 
Balance shown on your monthly statement for the previous billing cycle within 
twenty-five (25) days from the closing date of that statement. If you elect not to 
pay the entire New Balance shown on your previous monthly statement within 
that twenty-five (25) day period, a FINANCE CHARGE will be imposed on 
the unpaid average daily balance of such Credit Purchases from the previous 
statement closing date and on the new Credit Purchases from the date of 
posting to your account during the current billing cycle, and will continue to 
accrue until the closing date of the billing cycle preceding the date on which 
the entire New Balance is paid in full or until the date of payment if more than 
twenty-five (25) days from the closing date.
For Cash Advances- A FINANCE CHARGE will be imposed on Cash Advances 
from the date made or from the first day of the billing cycle in which the Cash 
Advance is posted to your account, whichever is later, and will continue to accrue 
until the date of payment. There is no grace period for cash advances.
We figure the FINANCE CHARGE on your account by applying the periodic 
rate to the ‘‘average daily balance’’ of your account. To get the ‘‘average daily 
balance’’ we take the beginning balance of your account each day, add any new 
purchases, and cash advances, and subtract any unpaid other finance charges 
and any payments or credits. This gives us the daily balance. Then, we add up 
all the daily balances for the billing cycle and divide the total by the number of 
days in the billing cycle. This gives us the ‘‘average daily balance.”

VISA PLATINUM SHARE SECURED ACCOUNT
Your Visa  Platinum  Share  Secured  Account  will  be  subject  to  a  FINANCE 
CHARGE (interest) at an ANNUAL PERCENTAGE RATE and a corresponding 

Monthly Periodic Rate which will be a floating rate based upon an index. The 
ANNUAL PERCENTAGE RATE and the corresponding Monthly Periodic Rate 
will apply to both purchases and cash advances.

Index 
The index is Prime Rate (“Index”). Information about this index is published 
in the “Money Rates Table” of the Wall Street Journal. If the Index ceases to 
be published, the Credit Union will choose a new Index and give you notice 
of its choice.

Rate Changes
The ANNUAL PERCENTAGE RATE may change annually on the first business 
day of each billing cycle in April. These are known as Rate Change Dates. 
The Index value used for a given billing cycle will be the value published on 
the Rate Change Date or the most recently published value published before 
the Rate Change Date. If more than one rate is published, the Index will be 
the highest of the rates published.

Determination of Annual Percentage Rate
The Credit Union will add a Margin based on your credit score to the Index 
value on the last business day of February of each year to get the ANNUAL 
PERCENTAGE RATE applicable to your Account for the billing cycle.  The 
actual rate adjustment will go into effect at the beginning of the new billing 
cycle in April.    
Notification of the rate for which you have been approved will be provided 
on the Account Opening Table Disclosure sent to you upon completion 
of the credit review and approval.  
ANNUAL PERCENTAGE RATE for the billing cycle will be divided by 12 to 
get the corresponding Monthly Periodic rate for the billing cycle. An increase 
or decrease in the Index will lead to an increase or decrease in your ANNUAL 
PERCENTAGE RATE and the corresponding Monthly Periodic Rate applicable 
to your Account.  

Limitations on Changes 
There is no limit on the amount by which the rate may change in any one-year 
period. There is no maximum ANNUAL PERCENTAGE RATE that can apply. 

Annual Percentage Example
Based upon a margin of 5.24% (your margin may be different based on your 
credit score) plus an Index value of 3.25%, (which was the value of the Index 
on February 28, 2011), your Visa Platinum Share Secured Account would be 
subject to a FINANCE CHARGE (interest) at an ANNUAL PERCENTAGE RATE 
of 8.99% which is a corresponding Monthly Periodic Rate of 0.74916%. 
On each subsequent Rate Change Date, the ANNUAL PERCENTAGE RATE 
and the corresponding periodic rate will be calculated according to the formula 
described above.
6.    Change in Terms; Changing or Terminating Your Account. The Credit 
Union  may  change  the  terms  of  this  Agreement,  including  your  ANNUAL 
PERCENTAGE RATE, from time to time for any reason not inconsistent with 
applicable law after giving you any advance notice required by law. Your failure 
to exercise any right you may have to reject the change in terms in a timely 
manner will indicate your agreement to the change. Except as restricted or 
prohibited  by  law,  any  change  in  terms  will  apply  to  your  existing  account 
balance as well as to future transactions. Either the Credit Union or any one 
of you may terminate this Agreement at any time, but termination by you or 
the Credit Union will not affect your obligation to pay the account balance plus 
any finance and other charges you owe under this Agreement. The cards you 
receive remain the property of the Credit Union and you must recover and 
surrender to the Credit Union all cards upon request or upon termination of 
this Agreement whether by you or the Credit Union.
7.    Other  Charges.  The  following  Other  Charges  will  be  added  to  your 
account, as applicable:
COPIES:  If you request a copy of any document, we may charge your account 
$5.00 per copy requested.  If your request is related to a billing error and an 
error is found, we will credit any copying charges back to your account.

©2010-2011 California Credit Union League, Law Offices of Thomas H. Wolfe, PC - All Rights Reserved   CU STORE  # 7018    (CUSTOM)                                                                                Rev.  11/02/11      PTD  11/11

  
LATE PAYMENT FEE:  We reserve the right to charge a late payment fee up to 
$10.00 to your account each billing period that the minimum monthly payment 
is not received by ten (10) days after the due date. 
NSF CHECKS:  A fee up to $25.00 will be assessed for each payment check 
that is returned to the Credit Union for non-sufficient funds.
CARD REPLACEMENT FEE: A fee of $10.00 will be assessed if your Visa 
card needs to be replaced due to damage, loss or theft. 
PRIORITY CARD DELIVERY FEE: A fee of $40.00 will be assessed if you 
request overnight delivery of your Card.
RESEARCH FEE:  If you request research on your account or authorize others 
to request it, we will charge you a fee of $20.00 per hour, with a minimum of 
one (1) hour.  We will not charge this fee if you are making an inquiry about 
an error on your bill.
8.    Monthly Payment. Each month you must pay at least the minimum payment 
shown on your statement by the Payment Due Date shown. You may, of course, 
pay more frequently, pay more than the minimum payment, or pay the Total 
New 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. The minimum payment is 3.0% of your Total New Balance but 
not less than $25.00, plus the amount of any prior minimum payments that 
you have not paid. 
9.    Security Interest. If you give the Credit Union a specific pledge of shares 
by signing a separate pledge of shares for this account, your account will be 
secured by your pledged shares.
10.  Default. You will be in default if you fail to make any minimum payment or 
other required payment by the date that it is due. You will be in default if you break 
any promise you make under this Agreement. You will be in default if you die, 
file for bankruptcy or become insolvent, that is, unable to pay your obligations 
when they become due. You will be in default if you make any false or misleading 
statements in any credit application or credit update. You will also be in default 
if something happens that the Credit Union believes may substantially reduce 
your ability to repay what you owe. When you are in default, the Credit Union 
has the right to immediately terminate this Agreement and require repayment 
of your outstanding account balance plus any finance and other charges you 
owe under this Agreement. At the Credit Union’s discretion, any shares that 
were given as security may be applied towards what you owe. To the extent 
permitted by law, you will also be required to pay the Credit Union’s collection 
expenses, including court costs and attorneys’ fees.
11.  Liability for Unauthorized Use. If you notice the loss or theft of your 
credit card or a possible unauthorized use of your card, you should notify us 
immediately by calling at (209) 549-8500, or (800) 477-0227, or outside of 
the U.S. call at (800) 847-2911 or write to us at P.O. Box 1411, Modesto CA 
95353.  You will not be liable for any unauthorized use that occurs after you 
notify us. You agree to cooperate fully in any investigation the Credit Union 
may conduct in connection with the loss, theft, or possible unauthorized use 
of your card.
12.  Limitations to Liability for Visa Transactions. If there is unauthorized 
use on your consumer Visa Credit Card your liability will be zero ($0.00). This 
provision limiting your liability does not apply to either Visa commercial cards, 
ATM  cash  disbursements  or  non-Visa  PIN-less  debit  transactions.  Additionally, 
your liability with respect to unauthorized transactions may be greater than 
the above limit, to the extent allowed under applicable law, if the Credit Union 

reasonably determines, based on substantial evidence, that you were grossly 
negligent or fraudulent in the handling of your account or card.
13.  Credit Information. You authorize the Credit Union to investigate your 
credit standing when opening or reviewing your Account. You authorize the 
Credit Union to disclose information regarding your account to credit bureaus 
and creditors who inquire about your credit standing. Pursuant to state law, 
you are hereby notified that a negative credit report reflecting on your credit 
record may be submitted to a credit reporting agency if you fail to fulfill the 
terms of your credit obligations.
14.  Returns  and  Adjustments.  Merchants  and  others  who  honor  the  card 
may give credit for returns or adjustments, and they will do so by sending the 
Credit Union a credit slip which will be posted to your account. If your credits and 
payments exceed what you owe the Credit Union, the amount will be applied 
against future purchases and cash advances. If the amount is $1 or more, it will 
be refunded upon your written request or automatically after six (6) months.
15.  Foreign Transactions.  Foreign Transactions  in  Foreign  Currency- 
Purchases  and  cash  advances  made  in  foreign  currencies  will  be  billed  to 
you in U.S. dollars. Transactions processed outside of the United States or in a 
foreign currency may be charged a foreign transaction fee, regardless of whether 
there is a currency conversion associated with the transaction. The conversion 
rate in dollars will be 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 in each instance, plus 
a one percentage point (1%) fee charged by the Issuer.
Foreign Transactions in U.S. Currency- Purchases and cash advances made 
in foreign countries will be billed to you in U.S. dollars. Transactions processed 
outside of the United States, in U.S. dollars, may be charged a foreign transaction 
fee of point eight percent (0.8%), regardless of whether there is a currency 
conversion associated with the transaction. 
16.  Merchant Disputes. The Credit Union is not responsible for the refusal 
of any merchant or financial institution to honor the card. The Credit Union is 
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 the Credit 
Union sent or participated in sending to you; or (b) your purchase cost more 
than $50 and was made in your state or within 100 miles of your home.
17.  Effect of Agreement. This Agreement is the contract which 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.
18.  No Waiver. The  Credit  Union  can  delay  enforcing  any  of  its  rights  any 
number of times without losing them.
19.  Statements and Notices. You will receive a statement each month showing 
transactions on your account. Statements and notices will be mailed to you at 
the most recent address you have given the Credit Union. Notice sent to any 
one of you will be considered notice to all. You agree to promptly notify the 
Credit Union if you change your mailing address.
20.  Transfer of Account. You cannot transfer or assign your account to any 
other person.
21.  Governing Law. This Agreement and your account shall be governed by 
California law without regard to any conflict of law rules.

YOUR BILLING RIGHTS - KEEP THIS NOTICE 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: Valley First Credit Union, 
P.O. Box 1411, Modesto, CA 95353.
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 error 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 of 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 delin-
quent 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 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 dissatisfied with the purchase, contact 
us in writing at: Valley First Credit Union, P.O. Box 1411, Modesto, CA 95353. 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.