Arkansas Federal
CREDIT CARD ACCOUNT
CREDIT
AGREEMENT AND DISCLOSURE
UNION
THIS IS YOUR CREDIT CARD ACCOUNT AGREEMENT AND IT INCLUDES NECESSARY
FEDERAL TRUTH-IN-LENDING DISCLOSURE STATEMENTS, PLATINUM CLASSIC VISA,
P.O. BOX 9
PLATINUM SECURE VISA, DIAMOND PREFERRED REWARDS VISA AND SIGNATURE VISA
JACKSONVILLE, AR 72078
AGREEMENTS, AND ANY SPECIAL INSTRUCTIONS REGARDING THE USE OF YOUR
(501) 982-1000
PLATINUM CLASSIC VISA, PLATINUM SECURE VISA, DIAMOND PREFERRED REWARDS
VISA AND SIGNATURE VISA CREDIT CARDS, AND/OR ANY OTHER ACCOUNT ACCESS
DEVICE. PLEASE BE CERTAIN TO READ THIS AGREEMENT CAREFULLY AND NOTIFY US AT
ONCE IF ANY PARTS ARE UNCLEAR.
Interest Rate and Interest Charges
Annual Percentage Rate
Diamond Preferred Rewards VISA:
0.00%
Introductory APR for six months
(APR) For Purchases
After that, Your APR will be
%. This APR will vary with the market based
on the Prime Rate.
Platinum Classic VISA:
0.00%
Introductory APR for six months
After that, Your APR will be
%. This APR will vary with the market based
on the Prime Rate.
Platinum Secure VISA:
%
This APR will vary with the market based on the Prime Rate.
Signature VISA:
0.00%
Introductory APR for six months
After that, Your APR will be
%. This APR will vary with the market based
on the Prime Rate.
APR For Balance
Diamond Preferred Rewards VISA: 0.00% Introductory APR for six months
Transfers
After that, Your APR will be
%. This APR will vary with the market based on the
Prime Rate.
Platinum Classic VISA: 0.00% Introductory APR for six months
After that, Your APR will be
%. This APR will vary with the market based on the
Prime Rate.
Platinum Secure VISA:
%
This APR will vary with the market based on the Prime Rate.
Signature VISA: 0.00% Introductory APR for six months
After that, Your APR will be
%. This APR will vary with the market based on the
Prime Rate.
APR For Cash Advances
Diamond Preferred Rewards VISA:
%
This APR will vary with the market based on the Prime Rate.
Platinum Classic VISA:
%
This APR will vary with the market based on the Prime Rate.
Platinum Secure VISA:
%
This APR will vary with the market based on the Prime Rate.
Signature VISA:
%
This APR will vary with the market based on the Prime Rate.
Paying Interest
We will not charge You interest on purchases if You pay Your entire balance owed each month
within 25 days of Your statement closing date. We will begin charging interest on cash
advances and balance transfers on the transaction date.
For Credit Card Tips from
To learn more about factors to consider when applying for or using a Credit Card, visit
the Consumer Financial
the website of the Consumer Financial Protection Bureau at
Protection Bureau
http://www.consumerfinance.gov/learnmore
Please refer to TOP OF PAGE 2 for more important information about Your Account
Copyright Oak Tree Business Systems, Inc., 2007-2015. All Rights Reserved.
Page 1 of 4
OTBS 016YCC DC FRB_Web ARKA (12/15)
Rev. (12/15)
Fees
Transaction Fees
Foreign Transaction
Except Signature, 1.00% of each transaction in U.S. Dollars.
Cash Advance
5.00% of the advance
Overdraft Transfer
$3.00
Penalty Fees
Returned Payment
Up to $25.00
Late Payment
Up to $35.00
How We Will Calculate Your Balance: We use a method called "average daily balance (including new purchases)." In all
cases, see Your Account Agreement for details.
Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in Your
Account Agreement.
Please refer to PAGE 1 for more important information about Your Account
DEFINITIONS. In this Agreement, the reference to "We," "Us," "Our" and "Credit Union" mean ARKANSAS FEDERAL CREDIT UNION. The words "You" and "Your"
mean each person accepting this Agreement. If this is a joint Account, read singular pronouns in the plural. The words "Card" and "Credit Card" mean any Platinum
Classic VISA, Platinum Secure VISA, Diamond Preferred Rewards VISA or Signature VISA Credit Card issued to You by Us and any duplicates or renewals. The word
"Account" means the Platinum Classic VISA, Platinum Secure VISA, Diamond Preferred Rewards VISA or Signature VISA Credit Card Account established for You
under this Agreement. "Convenience Checks" mean the special Account access devices that We may provide for Your use from time to time.
Variable Rate
Credit Card Type
Current Daily
Current Annual
Margin
Index
Periodic Rate
Percentage Rate
Platinum Secure VISA
%
%
Platinum Classic VISA
%
%
Diamond Preferred Rewards VISA
%
%
Signature VISA
%
%
PROMISE TO PAY. You, as the Borrower, understand that the following Federal
Credit Card at any time by paying any amounts owed on Your Account. To be
Disclosure Statement and the terms and conditions found herein constitute Our
certain that Your entire balance and all advances on Your Account are paid, any
Agreement with You. You may request advances on Your Account through a
shares pledged may not be available to You for 30 days after You have cancelled
variety of means which could include (but may not be limited to) telephonic
and any outstanding balance is paid in full.
requests, advance request forms, vouchers, checks, charge slips, Convenience
Checks, Credit Cards and the like. Regardless of the means by which any
LINE OF CREDIT LIMITS. You will be notified of each specific Credit Limit for
advance is made, You promise to pay Us all amounts charged to Your Account
which You are approved. Unless You are in default, any Credit Limits established
by You or by any user who has access to Your Account, with actual, apparent
or
for You will generally be self-replenishing as You make payments.
implied authority for use of Your Account, including Finance Charges and other
fees or charges described herein.
You will keep Your unpaid balance within Your Credit Limit set by Us, and You
will pay any amount over Your Credit Limit on Our demand whether or not We
USE OF YOUR CARD. You may use Your Card to buy goods and services in
authorize the advances which caused You to exceed Your Credit Limit. Even if
any place that it is honored and to get cash advances at participating financial
Your unpaid balance is less than Your Credit Limit, You will have no credit
institutions. You agree not to use Your Card for illegal transactions including, but
available during any time that any aspect of Your Account is in default.
not limited to, advances made for the purpose of gambling and/or wagering
where such practices are in violation of applicable state and/or federal law.
JOINT ACCOUNTS. Each Borrower will be responsible, jointly and severally, for
the repayment of any amounts owed. If any Account access device, such as a
OVERDRAFT PROTECTION. We may transfer funds in the amount necessary,
Personal Identification Number (PIN) is requested and approved, You
rounded up to the next $1.00 (or in such increments as We may from time to time
understand that any such Account access device(s) will be mailed only to the
determine) to Your share draft account by an advance on Your Credit Card,
primary Borrower at the address that We have on file for You. We may refuse to
subject to this provision, to clear any overdraft on Your share draft account.
follow any instructions which run counter to this provision.
Whether or not such transfers occur will be controlled by this Agreement. In any
event, You hold Us harmless for any and all liability which might otherwise arise
MINIMUM MONTHLY PAYMENTS (PAYMENT SCHEDULE). Though You need
if the transfer does not occur. Overdraft protection automatically ceases if this
only pay the Minimum Monthly Payments, You understand that You have the
Agreement is ever cancelled or terminated or Your Account is in default.
right to repay at any time without penalty. You also understand that You will only
be charged periodic Finance Charges to the date You repay Your entire balance.
OTHER SECURITY. Collateral (other than household goods or any dwelling)
You may make larger payments without penalty. Any partial payment or
given as security under this Agreement or for any other loan You may have with
prepayment will not delay Your next scheduled payment. All payments to Us
Us will secure all amounts You owe Us now and in the future if that status is
must be in lawful money of the United States. We may apply each payment to
reflected in the "Truth-in-Lending Disclosure" in any particular Agreement
whichever Feature Category We wish.
evidencing such debt.
Payments will be applied in the following order: (a) any Finance Charges due; (b)
CONSENSUAL LIEN ON SHARES. You grant and consent to a lien on
any other fees and charges owing; (c) any Late Charges owing; and then to (d)
Your shares with Us (except for IRA and Keogh accounts) and any
the balance bearing the lowest rate of interest, and then to each successive
dividends due or to become due to You from Us to the extent You owe on
balance bearing the next lowest rate of interest, until the minimum payment is
any unpaid Credit Card balance.
depleted. As permitted by law, any amounts paid in excess of the Minimum
Monthly Payment will first be applied to the balance bearing the highest rate of
ACCOUNT RESTRICTIONS. In order to receive and maintain a Platinum Secure
interest, and then to each successive balance bearing the next highest rate of
VISA Credit Card, You agree to give Us a specific pledge of shares which will
interest, until the payment is depleted.
equal Your credit limit. In the event that You default on Your Platinum Secure
VISA Credit Card, We may apply these shares toward the repayment of any
Any unpaid portion of the Finance Charge will be paid by subsequent payments
amount owed on Your Account. You may cancel Your Platinum Secure VISA
and will not be added to Your principal balance. You understand that any delay
Copyright Oak Tree Business Systems, Inc., 2007-2015. All Rights Reserved.
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OTBS 016YCC DC ARKA (12/15)
Rev. (12/15)
in the repayment of Your unpaid balance will increase Your periodic Finance
the billing cycle and divide them by the number of days in the billing cycle. This
Charges and any acceleration in the repayment of Your unpaid balance will
gives Us the average daily transactions balances for cash advances (including
decrease Your periodic Finance Charges.
convenience checks) that are not subject to a discounted rate.
Minimum Payments will be an amount equal to 3.00% of Your new unpaid balance
The Finance Charge for a billing cycle is computed by multiplying the average
at the end of each billing cycle, subject to the lesser of $20.00 or Your balance,
daily balance subject to a Finance Charge by the applicable Daily Periodic Rate
plus any portion of the Minimum Payments shown on prior statement(s) which
times the number of days in the billing cycle. You can avoid Finance Charges on
remains unpaid, plus any amount that exceeds Your approved Credit Limit.
purchases by paying the full amount of the entire balance owed each month
within 25 days of Your statement closing date. Otherwise, the new balance of
LATE CHARGE. If Your payment is not received by the payment due date, You
purchases, and subsequent purchases from the date they are posted to Your
will be charged the lesser of: (a) $25.00 (this amount will be $35.00 if You have
Account, will be subject to a Finance Charge. Cash advances and balance
incurred a late charge within six months of previously incurring a late charge); or
transfers are always subject to a Finance Charge from the later of the date they
(b) the amount of the required minimum payment.
are posted to Your Account or from the first day of the billing cycle in which the
transaction is posted to Your Account.
OTHER FEES AND CHARGES. You will be charged the following fees
associated with the use of Your Card: (a) the lesser of $25.00 for any check (or
Except for Platinum Secure VISA, transactions for purchases and balances
other negotiable instrument used for payment) which is returned unpaid, or the
transfers that post to Your Account during the 90-day period immediately
required minimum payment amount for the returned payment; (b) $3.00 for each
following the date You establish Your Account will be subject to an Introductory
advance necessary to clear an overdraft on Your share draft account; and (c) an
Daily Periodic Rate of 0.000000% (corresponding ANNUAL PERCENTAGE
amount equal to 5.00% of each cash advance.
RATE 0.00%). The introductory rate will end six months after the date You
establish Your Account at which time, the Daily Periodic Rate applicable to the
FINANCE CHARGES. In the case of any transactions under Your Account, the
entire balance of transactions for purchases and balance transfers that are
balances subject to the periodic Finance Charge are the average daily
subject to an introductory rate will immediately increase to the then standard
transactions balances outstanding during the month (including new transactions).
variable rate that would have otherwise been in effect had no introductory rate
Separate average daily balances are calculated for purchases that are subject to
been applied previously.
a discounted rate, purchases that are not subject to a discounted rate, balance
transfers that are subject to a discounted rate, balance transfers that are not
VARIABLE RATE. Following the expiration of any Introductory Rate Period, all
subject to a discounted rate, cash advances (including convenience checks) that
credit advances will be subject to a Variable Rate which is based on the highest
are subject to a discounted rate, and cash advances (including convenience
Prime Rate as published in the Money Rates section of The Wall Street Journal
checks) that are not subject to a discounted rate.
in effect on the day any Introductory Rate Period expires, and subsequently, on
the 25th day of each calendar month of each year ("Index") plus Our Margin. The
To get the average daily balance for purchases that are subject to a discounted
Index plus the Margin equals the Interest Rate. Changes in the Index will cause
rate, We take the beginning balance for purchases that are subject to a
changes in the Interest Rate on the day any Introductory Rate Period expires,
discounted rate each day, add any new purchases that are subject to a
and subsequently, on the first day of the billing cycle in the calendar month
discounted rate, debit adjustments or other charges and subtract any payments,
immediately following any such change in the Index. Increases or decreases in
credits and unpaid Finance Charges. This gives Us the daily balance for
the Interest Rate will cause like increases or decreases in the Finance
purchases that are subject to a discounted rate. Then, We add up all the daily
Charge and will affect the number of Your regularly scheduled payments. Your
balances for purchases that are subject to a discounted rate during the billing
Interest Rate will never be greater than 18.00% and will apply to Your remaining
cycle and divide them by the number of days in the billing cycle. This gives Us
principal balance.
the average daily transactions balances for purchases that are subject to a
discounted rate. To get the average daily balance for purchases that are not
PERIODIC STATEMENTS. On a regular basis, You will receive a statement
subject to a discounted rate, We take the beginning balance for purchases that
showing all transactions on Your Account including amounts paid and borrowed
are not subject to a discounted rate each day, add any new purchases that are
since Your last statement. We will mail You a statement each month in which
not subject to a discounted rate, debit adjustments or other charges and subtract
there is a debit or credit balance or when a Finance Charge is imposed. We
any payments, credits and unpaid Finance Charges. This gives Us the daily
need not send You a statement if We feel Your Account is uncollectible or if We
balance for purchases that are not subject to a discounted rate. Then, We add up
have started collection proceedings against You because You defaulted. EACH
all the daily balances for purchases that are not subject to a discounted rate
STATEMENT IS DEEMED TO BE A CORRECT STATEMENT OF ACCOUNT
during the billing cycle and divide them by the number of days in the billing cycle.
UNLESS YOU ESTABLISH A BILLING ERROR PURSUANT TO THE FEDERAL
This gives Us the average daily transactions balances for purchases that are not
TRUTH-IN-LENDING ACT.
subject to a discounted rate.
OUR RESPONSIBILITIES TO HONOR CONVENIENCE CHECKS. We are
To get the average daily balance for balance transfers that are subject to a
under no obligation to honor Your Convenience Checks if: (1) by paying a
discounted rate, We take the beginning balance for balance transfers that are
Convenience Check, You would exceed Your Credit Limit; (2) Your Cards or
subject to a discounted rate each day, add any new balance transfers, debit
Convenience Checks have been reported lost or stolen; and/or (3) Your Account
adjustments or other charges and subtract any payments, credits and unpaid
has been cancelled or has expired. If a postdated Convenience Check is paid
Finance Charges. This gives Us the daily balance for balance transfers that are
and, as a result, any other Convenience Check is returned unpaid, We are not
subject to a discounted rate. Then, We add up all the daily balances for balance
responsible for any resulting loss or liability.
transfers that are subject to a discounted rate during the billing cycle and divide
them by the number of days in the billing cycle. This gives Us the average daily
DEFAULT. You will be in default if: (a) You do not make any payment or perform
transactions balances for balance transfers that are subject to a discounted rate.
any obligation under this Agreement, or any other agreement that You may have
To get the average daily balance for balance transfers that are not subject to
a
with Us; or (b) You should die, become involved in any insolvency, receivership
discounted rate, We take the beginning balance for balance transfers that are not
or custodial proceeding brought by or against You; or (c) You have made a false
subject to a discounted rate each day, add any new balance transfers, debit
or misleading statement in Your credit application and/or in Your representations
adjustments or other charges and subtract any payments, credits and unpaid
to Us while You owe money on Your Account; or (d) A judgment or tax lien
Finance Charges. This gives Us the daily balance for balance transfers that are
should be filed against You or any attachment or garnishment should be issued
not subject to a discounted rate. Then, We add up all the daily balances for
against any of Your property or rights, specifically including anyone starting an
balance transfers that are not subject to a discounted rate during the billing cycle
action or proceeding to seize any of Your funds on deposit with Us; and/or (e)
and divide them by the number of days in the billing cycle. This gives Us the
We should, in good faith, believe Your ability to repay Your indebtedness
average daily transactions balances for balance transfers that are not subject to
hereunder is or soon will be impaired, time being of the very essence.
a discounted rate.
Upon any occurrence of default, We may, to the extent permitted by law, cancel
To get the average daily balance for cash advances (including convenience
Your rights under this Agreement, require the return of all access devices and
checks) that are subject a discounted rate, We take the beginning balance for
declare the entire balance of Your Account immediately due and payable,
cash advances (including convenience checks) that are subject to a discounted
without prior notice or demand.
rate each day, add any new cash advances, convenience checks, debit
adjustments or other charges and subtract any payments, credits and unpaid
COLLECTION COSTS. In the event collection efforts are required to obtain
finance Charges. This gives Us the daily balance for cash advances (including
payment on this Account, to the extent permitted by law, You agree to pay all
convenience checks) that are subject to a discounted rate. Then, We add up all
court costs, private process server fees, investigation fees or other costs
the daily balances for cash advances (including convenience checks) that are
incurred in collection and reasonable attorneys' fees incurred in the course of
subject to a discounted rate during the billing cycle and divide them by the
collecting any amounts owed under this Agreement or in the recovery of
number of days in the billing cycle. This gives Us the average daily transactions
any Collateral.
balances for cash advances (including convenience checks) that are subject to
a
discounted rate. To get the average daily balance for cash advances (including
ENFORCEMENT. We do not lose Our rights under this or any related agreement
convenience checks) that are not subject to a discounted rate, We take the
if We delay enforcing them. We can accept late payments, partial payments or
beginning balance for cash advances (including convenience checks) that are
any other payments, even if they are marked "paid in full" without losing any of
not subject to a discounted rate each day, add any new cash advances,
Our rights under this Agreement. If any provision of this or any related
convenience checks, debit adjustments or other charges and subtract any
agreement is determined to be unenforceable or invalid, all other provisions
payments, credits and unpaid Finance Charges. This gives Us the daily balance
remain in full force and effect.
for cash advances (including convenience checks) that are not subject to a
discounted rate. Then, We add up all the daily balances for cash advances
NOTIFICATION OF ADDRESS CHANGE. You will notify Us promptly if You
(including convenience checks) that are not subject to a discounted rate during
move or otherwise have a change of address.
Copyright Oak Tree Business Systems, Inc., 2007-2015. All Rights Reserved.
Page 3 of 4
OTBS 016YCC DC (12/15)
Rev. (12/15)
CHANGE IN TERMS. We may change the terms of this Agreement by mailing or
and apply this credit against future purchases and cash advances, or if it is $1.00
delivering to You written notice of the changes as prescribed by the Federal
or more refund it on Your written request or automatically deposit it to Your share
Truth-In-Lending Act. To the extent permitted by law, the right to change the
account after six months.
terms of this Agreement includes, but is not limited to, the right to change the
periodic rate applicable to Your unpaid balance and/or future advances.
Your Billing Rights: Keep this Document for Future Use
INTEGRATED DOCUMENTS. Any separate sheet of paper labeled "Additional
This notice tells You about Your rights and Our responsibilities under the
Disclosure - Federal Truth-In-Lending Act" which is delivered together with this
Fair Credit Billing Act.
Agreement or at a later date becomes an integrated part of this Agreement
and Disclosure.
What To Do If You Find A Mistake On Your Statement
CONSENT TO AGREEMENT. You acknowledge receipt of a copy of this
If You think there is an error on Your statement, write to Us at: Arkansas Federal
Agreement. By signing the application; or by using Your Account or any Account
Credit Union, P.O. Box 9, Jacksonville, AR 72078. In Your letter, give us the
access device; or by authorizing another to use Your Account, You agree to and
following information:
accept its terms.
Account information: Your name and Account number.
UPDATING AND DISCLOSING FINANCIAL INFORMATION. You will provide
Dollar amount: The dollar amount of the suspected error.
facts to update information contained in Your original Account application or
Description of problem: If You think there is an error on Your bill, describe
other financial information related to You, at Our request. You also agree that We
what You believe is wrong and why You believe it is a mistake.
may, from time to time, as We deem necessary, make inquiries pertaining to
Your employment, credit standing and financial responsibility in accordance
You must contact Us:
with applicable laws and regulations. You further agree that We may give
information about the status and payment history of Your Account to
Within 60 days after the error appeared on Your statement.
consumer credit reporting agencies, a prospective employer or insurer, or a state
At least three business days before an automated payment is scheduled, if
or federal licensing agency having any apparent legitimate business need for
You want to stop payment on the amount You think is wrong.
such information.
You must notify Us of any potential errors in writing. You may call Us, but if You
TERMINATION. Either You or We may cancel Your Account or any particular
do We are not required to investigate any potential errors and You may have to
Feature Category of Your Account, at any time, whether or not You are in
pay the amount in question.
default. You will, in any case, remain liable to pay any unpaid balances according
to the terms of Your Account.
What Will Happen After We Receive Your Letter
GOVERNING LAW. This Agreement is controlled and governed by the laws of
When We receive Your letter, We must do two things:
the State of Arkansas except to the extent that such laws are inconsistent with
controlling federal law.
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.
OWNERSHIP. Your Card remains Our property and may be cancelled by Us at
2) Within 90 days of receiving Your letter, We must either correct the error or
any time without notice. You agree to surrender Your Card and to discontinue its
explain to You why We believe the bill is correct.
use immediately upon Our request.
While We investigate whether or not there has been an error:
ISSUANCE OF A PERSONAL IDENTIFICATION NUMBER. We will issue,
upon Your request, a Personal Identification Number (PIN) for use with
We cannot try to collect the amount in question, or report You as delinquent
participating Automated Teller Machines (ATMs). This PIN is confidential and
on that amount.
should not be disclosed to anyone. You may use Your PIN to access Your
The charge in question may remain on Your statement, and We may
Account and all sums advanced will be added to Your Account balance. In the
continue to charge You interest on that amount.
event a use of Your PIN constitutes an Electronic Fund Transfer, the terms
While You do not have to pay the amount in question, You are responsible
and conditions of Your Electronic Fund Transfer Agreement may also affect
for the remainder of Your balance.
Your rights.
We can apply any unpaid amount against Your Credit Limit.
EFFECT OF AGREEMENT. Even though the sales, cash advance, credit or
After We finish Our investigation, one of two things will happen:
other slips You may sign or receive when using Your Card contain terms, this
Agreement is the contract which solely applies to all transactions involving
If We made a mistake: You will not have to pay the amount in question or
the Card.
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
UNAUTHORIZED USE. You may be liable for the unauthorized use of Your
question, along with applicable interest and fees. We will send You a
Card. You will not be liable for the unauthorized use that occurs after You notify
statement of the amount You owe and the date payment is due. We may then
Us of the loss, theft, or possible unauthorized use by calling Us at the telephone
report You as delinquent if You do not pay the amount We think You owe.
number shown in this Agreement or by writing to Us at the address shown in this
Agreement. In any case, Your liability will not exceed $50.00.
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
REFUSAL TO HONOR CARDS OR CONVENIENCE CHECKS. We are not
do so, We cannot report You as delinquent without also reporting that You
liable for the refusal or inability of merchants, financial institutions and others to
are questioning Your bill. We must tell You the name of anyone to whom we
accept the Cards or Convenience Checks, or electronic terminals to honor the
reported You as delinquent, and We must let those organizations know when the
Cards or complete a Card withdrawal, or for their retention of the Cards or
matter has been settled between Us. If We do not follow all of the rules above,
Convenience Checks.
You do not have to pay the first $50.00 of the amount You question even if Your
bill is correct.
FOREIGN TRANSACTIONS. For transactions initiated in foreign countries and
foreign currencies, the exchange rate between the transaction currency and the
Your Rights If You Are Dissatisfied With Your Credit Card Purchases
billing currency (U.S. dollars) will be: (a) a rate selected by VISA from the range
of rates available in wholesale currency markets for the applicable central
If You are dissatisfied with the goods or services that You have purchased with
processing date, which rate may vary from the rate VISA itself receives; or (b) the
Your Credit Card, and You have tried in good faith to correct the problem with the
government-mandated rate in effect for the applicable central processing date.
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:
Except for transactions made through the use of any Signature VISA Credit
Card, You will be charged 1.00% of the final settlement amount for each such
1) The purchase must have been made in Your home state or within 100 miles
transaction initiated in a foreign currency whereas, You will be charged 1.00% of
of Your current mailing address, and the purchase price must have been
the final settlement amount for transactions occurring in foreign countries and
more than $50.00. (Note: Neither of these are necessary if Your purchase
initiated in U.S. Dollars.
was based on an advertisement We mailed to You, or if We own the
company that sold You the goods or services.)
TRANSACTION SLIPS. Your monthly statement will identify that merchant,
2) You must have used Your Credit Card for the purchase. Purchases made
electronic terminal or financial institution at which transactions were made, but
with cash advances from an ATM or with a check that accesses Your Credit
sales, cash advances, credit or other slips cannot be returned with the statement.
Card account do not qualify.
3) You must not yet have fully paid for the purchase.
LOST CARDS OR CONVENIENCE CHECKS. To report lost or stolen Credit
Cards or Convenience Checks, You will immediately call Us at the telephone
If all of the criteria above are met and You are still dissatisfied with the purchase,
number shown in this Agreement or write to Us at the address shown in
contact Us in writing at Our address shown in this Agreement.
this Agreement.
While We investigate, the same rules apply to the disputed amount as discussed
CREDITS. If a merchant who honors Your Card gives You credit for returns or
above. After We finish Our investigation, We will tell You Our decision. At that
adjustments, they will do so by sending Us a slip which will be posted to Your
point, if We think You owe an amount and You do not pay, We may report You
Account. If Your credits and payments exceed what You owe Us, We will hold
as delinquent.
Copyright Oak Tree Business Systems, Inc., 2007-2015. All Rights Reserved.
Page 4 of 4
OTBS 016YCC DC FRB_Web ARKA (12/15)
Rev. (12/15)
Arkansas Federal
CREDIT
PRICING INFORMATION ADDENDUM
UNION
CREDIT CARD ACCOUNT
AGREEMENT AND DISCLOSURE
Improving Each Member's Financial Life
P.O. BOX 9
JACKSONVILLE, AR 72078
THIS IS YOUR ADDENDUM THAT CONTAINS PRICING INFORMATION FOR YOUR
(501) 982-1000
PLATINUM CLASSIC VISA, PLATINUM SECURE VISA, DIAMOND PREFERRED REWARDS
VISA AND SIGNATURE VISA CREDIT CARDS. PLEASE BE CERTAIN TO READ THIS
ADDENDUM CAREFULLY AND NOTIFY US AT ONCE IF ANY PARTS ARE UNCLEAR.
Interest Rate and Interest Charges
Annual Percentage Rate
Diamond Preferred Rewards VISA:
0.00%
Introductory APR for six months
(APR) For Purchases
After that Your APR will be
8.99% - 15.99%
based on Your creditworthiness
This APR will vary with the market based on the Prime Rate
Platinum Classic VISA:
0.00%
Introductory APR for six months
After that Your APR will be
6.00% - 14.99%
based on Your creditworthiness
This APR will vary with the market based on the Prime Rate
Platinum Secure VISA:
18.00%
This APR will vary with the market based on the Prime Rate.
Signature VISA:
0.00%
Introductory APR for six months
After that Your APR will be
10.99% - 17.99%
based on Your creditworthiness
This APR will vary with the market based on the Prime Rate
APR For Balance
Diamond Preferred Rewards VISA: 0.00% Introductory APR for six months
Transfers
After that Your APR will be 8.99% - 15.99% based on Your creditworthiness
This APR will vary with the market based on the Prime Rate
Platinum Classic VISA: 0.00% Introductory APR for six months
After that Your APR will be 6.00% - 14.99% based on Your creditworthiness
This APR will vary with the market based on the Prime Rate
Platinum Secure VISA: 18.00%
This APR will vary with the market based on the Prime Rate.
Signature VISA: 0.00% Introductory APR for six months
After that Your APR will be 10.99% - 17.99% based on Your creditworthiness
This APR will vary with the market based on the Prime Rate
APR For Cash Advances
Diamond Preferred Rewards VISA: 8.99% - 15.99% based on Your creditworthiness
This APR will vary with the market based on the Prime Rate.
Platinum Classic VISA: 6.00% - 14.99% based on Your creditworthiness.
This APR will vary with the market based on the Prime Rate.
Platinum Secure VISA: 18.00%
This APR will vary with the market based on the Prime Rate.
Signature VISA: 10.99% - 17.99% based on Your creditworthiness.
This APR will vary with the market based on the Prime Rate.
Please refer to TOP OF PAGE 2 for more important information about Your Account
Copyright Oak Tree Business Systems, Inc., 2007-2015. All Rights Reserved.
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OTBS 016AYCC DC FRB_Web ARKA (12/15)
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Interest Rate and Interest Charges (continued)
Paying Interest
We will not charge You interest on purchases if You pay Your entire balance owed each month
within 25 days of Your statement closing date. We will begin charging interest on cash
advances and balance transfers on the transaction date.
For Credit Card Tips from
To learn more about factors to consider when applying for or using a Credit Card, visit
the Consumer Financial
the website of the Consumer Financial Protection Bureau at
Protection Bureau
http://www.consumerfinance.gov/learnmore.
Fees
Transaction Fees
Foreign Transaction
Except Signature, 1.00% of each transaction in U.S. Dollars.
Cash Advance
5.00% of the advance
Overdraft Transfer
$3.00
Penalty Fees
Returned Payment
Up to $25.00
Late Payment
Up to $35.00
Please refer to PAGE 1 for more important information about Your Account
FINANCE CHARGES. In the case of any transactions under Your Account, the balances subject to the periodic Finance Charge are the average daily transactions
balances outstanding during the month (including new transactions). Separate average daily balances are calculated for purchases that are subject to a discounted
rate, purchases that are not subject to a discounted rate, balance transfers that are subject to a discounted rate, balance transfers that are not subject to a discounted
rate, cash advances (including convenience checks) that are subject to a discounted rate, and cash advances (including convenience checks) that are not subject to a
discounted rate.
To get the average daily balance for purchases that are subject to a discounted rate, We take the beginning balance for purchases that are subject to a discounted rate
each day, add any new purchases that are subject to a discounted rate, debit adjustments or other charges and subtract any payments, credits and unpaid
Finance
Charges. This gives Us the daily balance for purchases that are subject to a discounted rate. Then, We add up all the daily balances for purchases that are subject to a
discounted rate during the billing cycle and divide them by the number of days in the billing cycle. This gives Us the average daily transactions balances for purchases
that are subject to a discounted rate. To get the average daily balance for purchases that are not subject to a discounted rate, We take the beginning balance for
purchases that are not subject to a discounted rate each day, add any new purchases that are not subject to a discounted rate, debit adjustments or other charges and
subtract any payments, credits and unpaid Finance Charges. This gives Us the daily balance for purchases that are not subject to a discounted rate. Then, We add up
all the daily balances for purchases that are not subject to a discounted rate during the billing cycle and divide them by the number of days in the billing cycle. This
gives Us the average daily transactions balances for purchases that are not subject to a discounted rate.
To get the average daily balance for balance transfers that are subject to a discounted rate, We take the beginning balance for balance transfers that are subject to
a
discounted rate each day, add any new balance transfers, debit adjustments or other charges and subtract any payments, credits and unpaid Finance Charges. This
gives Us the daily balance for balance transfers that are subject to a discounted rate. Then, We add up all the daily balances for balance transfers that are subject to a
discounted rate during the billing cycle and divide them by the number of days in the billing cycle. This gives Us the average daily transactions balances for balance
transfers that are subject to a discounted rate. To get the average daily balance for balance transfers that are not subject to a discounted rate, We take the beginning
balance for balance transfers that are not subject to a discounted rate each day, add any new balance transfers, debit adjustments or other charges and subtract any
payments, credits and unpaid Finance Charges. This gives Us the daily balance for balance transfers that are not subject to a discounted rate. Then, We add up all the
daily balances for balance transfers that are not subject to a discounted rate during the billing cycle and divide them by the number of days in the billing cycle. This
gives Us the average daily transactions balances for balance transfers that are not subject to a discounted rate.
To get the average daily balance for cash advances (including convenience checks) that are subject to a discounted rate, We take the beginning balance for cash
advances (including convenience checks) that are subject to a discounted rate each day, add any new cash advances, convenience checks, debit adjustments or other
charges and subtract any payments, credits and unpaid finance Charges. This gives Us the daily balance for cash advances (including convenience checks) that are
subject to a discounted rate. Then, We add up all the daily balances for cash advances (including convenience checks) that are subject to a discounted rate during the
billing cycle and divide them by the number of days in the billing cycle. This gives Us the average daily transactions balances for cash advances (including convenience
checks) that are subject to a discounted rate. To get the average daily balance for cash advances (including convenience checks) that are not subject to a discounted
rate, We take the beginning balance for cash advances (including convenience checks) that are not subject to a discounted rate each day, add any new cash
advances, convenience checks, debit adjustments or other charges and subtract any payments, credits and unpaid Finance Charges. This gives Us the daily balance
for cash advances (including convenience checks) that are not subject to a discounted rate. Then, We add up all the daily balances for cash advances (including
convenience checks) that are not subject to a discounted rate during the billing cycle and divide them by the number of days in the billing cycle. This gives Us the
average daily transactions balances for cash advances (including convenience checks) that are not subject to a discounted rate.
The Finance Charge for a billing cycle is computed by multiplying the average daily balance subject to a Finance Charge by the applicable Daily Periodic Rate times
the number of days in the billing cycle. You can avoid Finance Charges on purchases by paying the full amount of the entire balance owed 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
a Finance Charge. Cash advances and balance transfers are always subject to a Finance Charge from the later of the date they are posted to Your Account or from the
first day of the billing cycle in which the transaction is posted to Your Account.
Except for Platinum Secure VISA, transactions for purchases and balances transfers that post to Your Account during the 90-day period immediately following the date
You establish Your Account will be subject to an Introductory Daily Periodic Rate of 0.000000% (corresponding ANNUAL PERCENTAGE RATE 0.00%). The
introductory rate will end six months after the date You establish Your Account at which time, the Daily Periodic Rate applicable to the entire balance of transactions for
purchases and balance transfers that are subject to an introductory rate will immediately increase to the then standard variable rate that would have otherwise been in
effect had no introductory rate been applied previously.
Copyright Oak Tree Business Systems, Inc., 2007-2015. All Rights Reserved.
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Your Platinum Classic VISA is subject to a current variable Daily Periodic Rate of 0.016438% - 0.041068% (corresponding to an ANNUAL PERCENTAGE RATE of
6.00% - 14.99%), depending on Your creditworthiness.
Your Diamond Preferred Rewards VISA is subject to a current variable Daily Periodic Rate of 0.024630% - 0.043808% (corresponding to an ANNUAL PERCENTAGE
RATE of 8.99% - 15.99%), depending on Your creditworthiness.
Your Platinum Secure VISA is subject to a current variable Daily Periodic Rate of 0.049315% (corresponding to an ANNUAL PERCENTAGE RATE of 18.00%).
Your Signature VISA is subject to a current variable Daily Periodic Rate of 0.030110% - 0.049288% (corresponding to an ANNUAL PERCENTAGE RATE of 10.99% -
17.99%), depending on Your creditworthiness.
VARIABLE RATE. Following the expiration of any Introductory Rate Period, all credit advances will be subject to a Variable Rate which is based on the highest Prime
Rate as published in the Money Rates section of The Wall Street Journal in effect on the day any Introductory Rate Period expires, and subsequently, on the 25th day
of each calendar month of each year ("Index") plus Our Margin. The Index plus the Margin equals the Interest Rate. Changes in the Index will cause changes in the
Interest Rate on the day any Introductory Rate Period expires, and subsequently, on the first day of the billing cycle in the calendar month immediately following any
such change in the Index. Increases or decreases in the Interest Rate will cause like increases or decreases in the Finance Charge and will affect the number of Your
regularly scheduled payments. Your Interest Rate will never be greater than 18.00% and will apply to Your remaining principal balance.
For Platinum Classic VISA, Diamond Preferred Rewards VISA and Signature VISA Your Margin will be determined by Your creditworthiness, and for Platinum Classic
VISA the Margin will be 2.75% - 11.74%, for Diamond Preferred Rewards VISA the Margin will be 5.74% - 12.74% and for Signature VISA the Margin will be 7.74% -
14.74%. For Platinum Secure VISA the Margin will be 14.75%.
Copyright Oak Tree Business Systems, Inc., 2007-2015. All Rights Reserved.
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OTBS 016AYCC DC FRB_Web ARKA (12/15)
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