19. Binding Effect. This Agreement is binding upon and enforceable
Your Rights and Our Responsibilities After We Receive Your
Interest Rates and Interest Charges
VISA
against your heirs, legal representatives, or successors.
Written Notice
Annual Percentage
Rate (APR) for
14.9%
CARDHOLDER AGREEMENT
20. Foreign Conversion Transactions. If you effect an international
We must acknowledge your letter within 30 days, unless we have
Purchases
transaction at a merchant that settles in a currency other than U.S.
corrected the error by then. Within 90 days, we must either correct the
Please read this agreement carefully and save it for future reference. It
APR for Balance
14.9%
dollars the rate used to determine the transaction amount for such
error or explain why we believe the bill was correct.
contains Regulation Z disclosures and your rights in case of errors or
Transfers
transactions is generally either a government mandated rate or a
inquiries about your bill.
wholesale rate determined by VISA for the processing cycle in
APR for Cash
After we receive your letter, we cannot try to collect any amount you
14.9%
which the transaction is processed, and may be increased by an
question, or report you as delinquent. We can continue to bill you for the
Advances
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amount you question, including Interest charges, and we can apply any
How to Avoid
This is the Agreement that covers your VISA Cardholder Account with
adjustment factor established from time to time by VISA® The
Your due date is at least 25 days after the
Paying Interest on
First Bank & Trust ("Account"). In this Agreement, the words "you" and
rate used on the processing date may differ from the rate that
unpaid amount against your credit limit. You do not have to pay any
close of each billing cycle. We will not
"your" refer to the person who applied for the Account and any Joint
would have been used on the purchase or cardholder statement
questioned amount while we are investigating, but you are still obligated
Purchases
charge you interest on purchases if you pay
Accountholder, if applicable. "We". "us", and "our" refer to First Bank
posting.
to pay the parts of your bill that are not in question.
your entire balance by the due date each
&
Trust, Brookings, South Dakota. The word "Card" means your
month.
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If you effect a transaction at a merchant that settles in a currency
If we find that we made a mistake on your bill, you will not have to pay
VISA Card.
Minimum Interest
If you are charged interest, the charge will be
other than U.S. dollars, VISA will convert the charge into a U.S.
any Interest charges related to any questioned amount. If we didn't make
Charge
no less than $.50.
dollar amount. VISA will use its currency conversion rate used
a mistake, you may have to pay Interest charges, and you will have to
This Agreement is effective when you use the Card or the Account or if
For Credit Card
To learn more about factors to consider when
to determine the transaction amount in U.S. dollars for such
make up any missed payments on the questioned amount. In either case,
you fail to cut your Card in half and return it to us within 30 days after
Tips from the
transactions is generally either a government mandated rate or a
applying for or using a credit card, visit the
we will send you a statement of the amount you owe and the date that it
the date it is issued to you.
Federal Reserve
website of the Consumer Financial Protection
wholesale rate determined by VISA for the processing cycle in
is due.
Board
which the adjustment factor established from time to time by
Bureau at
To avoid unauthorized use of your Card, please sign the back of your
VISA®. The currency conversion rate used on the processing date
If you fail to pay the amount that we think you owe, we may report you
http://www.consumerfinance.gov/learnmore
Card immediately.
may differ from the rate that would have been used on the
as delinquent. However, if our explanation does not satisfy you and you
Fees
purchase or cardholder statement posting date.
write to us within ten days telling us that you still refuse to pay, we must
Annual Fee
None
1.
Using Your Card. You may use your Card or Account to
tell anyone we report you to that you have a question about your bill.
Transaction Fees
purchase or lease goods or services ("Purchases") to obtain cash
For each purchase transaction in a foreign currency that has been
And, we must tell you the name of anyone we reported you to. We must
Balance Transfer
None
loans ("Cash Advances") from any financial institution that
converted into a U.S. dollar amount by VISA®, we may pass
tell anyone we report you to that the matter has been settled between us
Up to 1% of each
accepts the Card. Any cash equivalents obtained with the Card will
Foreign Currency
along a Foreign Currency Conversion Fee in the amount provided
when it finally is.
transaction converted to
also be treated as Cash Advances. Cash equivalent transactions
to us by VISA®.
Conversion
U.S. dollars
include but are not limited to wire transfers, money orders
If we don't follow these rules, we can't collect the first $50.00 of the
Cash Advance
Either $5 or 3% of the
travelers checques, tax payments, gold bullion purchase, and
questioned amount, even if your bill was correct.
gamming transactions or services. If you use your Card or
amount of each cash
21. Illegal Transactions. Your Card and Account may be used only
Account, you agree to us paying the amount owed to each
for valid and lawful purposes. If you use, or allow someone else to
advance, whichever is
Special Rule for Credit Card Purchases
merchant or financial institution which honored your Card.
use your Card and Account for any other purpose you will be
greater.
responsible for such use and may be required to reimburse us for
If you have a problem with the quality of property or services that you
Penalty Fees
If you give your Account number to make a purchase or obtain a
all amounts or expenses we pay as a result of such use.
purchased with a credit card, and you have tried in good faith to correct
Late Payment
Up to $25
Cash Advance without presenting your Card (such as for a mail
the problem with the merchant, you may have the right not to pay the
Returned Payment
Up to $25
order, telephone, or Internet purchase), the legal effect will be the
YOUR BILLING RIGHTS
remaining amount due on the property or services. There are two
same as if the Card itself was used by you.
KEEP THIS NOTICE FOR FUTURE USE
limitations on this right:
If we, at our option, give you a Personal Identification Number
This notice contains important information about your rights and our
(a) You must have made the Purchase in your home state or, if not
Other Fees
(PIN), you may use your Card to obtain a Cash Advance from any
responsibilities under the Fair Credit Billing Act.
within your home state, within 100 miles of your current mailing
Account Handling Fee
$25-If it is necessary to
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Automated Teller Machine (ATM) that bears the VISA
or
address; and
place restrictions on
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Notify Us In Case of Errors or Questions About Your Bill
(b) The Purchase price must have been more than $50.00.
Statement Copy Fee
account
PLUS logo. All ATM transactions are treated under terms of this
Reinstatement Fee
$2.50 per page
Agreement the same as Cash Advances. We have the right to
If you think your bill is wrong, or if you need more information about a
These limitations do not apply if we own or operate the merchant, or if
$25
restrict your access to any qualified ATM at any time. You should
transaction on your bill, write us [on a separate sheet] at the address
we mailed you the advertisement for the property or services.
Lost/Stolen Replacement
$5
not keep your PIN with your Card. If you believe that anyone has
listed on your bill. Write to us as soon as possible. We must hear from
Card Fee
gained unauthorized access to your PIN, you should advise us
you no later than 60 days after we sent you the first bill on which the
immediately, following the procedures under the heading "Lost or
error or problem appeared. You can telephone us, but doing so will not
Stolen Card."
preserve your rights.
How We Will Calculate Your Balance: We use a method called
2.
Joint Account. If this is a Joint Account, each person (a) may
In your letter, give us the following information:
"average daily balance (including new purchases)."
obtain Purchases and Cash Advances (but the total of these cannot
Your name and account number.
exceed the credit line); (b) will be responsible for paying all
The dollar amount of the suspected error.
Billing Rights: Information on your rights to dispute transactions
amounts owed; and (c) can close the Account.
Describe the error and explain, if you can, why you believe there
and how to exercise those rights is provided in your account
agreement
3.
is an error. If you need more information describe the item you
Credit Line. Your credit line is shown on the folder containing
are not sure about.
The information about costs of the card described in this application
your Card. Since we may change your credit line from time to
If you have authorized us to pay your credit card bill automatically from
is accurate as of 7/26/2013. The information may have changed
time, your latest credit line will appear on your monthly billing
your savings or checking account, you can stop the payment on any
after this date. To find out what may have changed, write us at: PO
statement. You agree not to make any Purchases or obtain any
amount you think is wrong. To stop the payment your letter must reach
Box 6000, Brookings, SD 57006.
Cash Advances that would cause the unpaid balance of your
us three business days before the automatic payment is scheduled to
Account to exceed your credit line. We may honor Purchases and
Cash Advances in excess of your credit line at our sole discretion.
occur.
07/13
If we do this Agreement also applies to that excess and you agree
G-14784
to pay the excess immediately if we demand that you do so. You
Your Account is not in good standing if at any time we do not
Fee equal to the amount of the Minimum Payment Due up to a
agree that we may change or cancel your credit line at any time
receive at least the Minimum Payment Due by the 60th day after
maximum of $25.00.
15. Changes in Agreement Terms. We can change any term of this
without affecting your obligation to pay amounts that you owe
the Payment Due Date shown on the Monthly Billing Statement.
Agreement, including the rate at which or manner in which Interest
under this Agreement.
Account Handling Fee. If you are in default of this Agreement
charges are calculated, at any time upon such notice to you as is
9.
INTEREST CHARGES. Your Account is subject to the
and it is necessary for us to place restrictions on your Account, you
required by law. At our option, any change will apply both to your
4.
Billing Statements. We will promptly send a Monthly Billing
following Interest Charges, each of which will be charged to your
may be charged an Account Handling Fee of $25.00. If these
new activity and to your outstanding balance when the change is
Statement at the end of each monthly billing cycle if your Account
Account as a Purchase:
restrictions cause your Card to be retained and returned to us, you
effective. If you do not wish to be subject to the change, you must
has a debit or credit balance greater than $1.00. The Monthly
agree to pay all charges associated with recovering your Card.
notify us in writing within 25 days of the effective date of the
Billing Statement will show the Previous Balance, Purchases and
Periodic Interest Charges. An INTEREST CHARGE is
change and close your Account. Use of the Card after the effective
Cash Advances posted during the billing period, any Interest
imposed on Purchases beginning on the date the Purchase is posted
Reinstatement Fee. If we close your Account due to your default
date of the change is deemed acceptance of the new terms.
Charges, and all payments, debits, and credits to your Account
to your Account. No INTEREST CHARGE will be imposed on
and we later reinstate your Account at your request, you may be a
through the Billing Cycle Closing Date. It will also show, among
your Purchases if the Previous Balance shown on your Monthly
charged a Reinstatement Fee of $25.00.
16.
Arbitration. "Arbitration" is a means of having an independent
other things, your New Balance, the Minimum Payment Due, and
Billing Statement is zero and you pay your New Balance in full by
third party resolve a Dispute. A "Dispute" is any controversy or
the Payment Due Date (which will be at least 25 days after the
the Payment Due Date shown on your Monthly Billing Statement.
Statement Copy Fee. If you request a copy of a Monthly Billing
claim of any type or nature between you (or any co-signer, co-
Billing Cycle Closing Date).
An INTEREST CHARGE is imposed on Cash Advances
Statement, you may be charged a Statement Copy Fee of $2.50 per
obligor, guarantor, joint user or authorized user) and us or our
beginning on the date they are obtained and continues until the
page.
employees, officers, directors, attorneys, and other representatives
5.
Lost or Stolen Card. You may be liable for the unauthorized use
balance of your Account is paid in full. There is no time in which
and agents, arising out of or in any way relating to this agreement,
of your Card. You will not be liable for unauthorized use that
you can pay the balance of Cash Advances in order to completely
11. Default/Collection Costs. Your Account will be in default and we
including this arbitration agreement. You agree that this is a
occurs after you notify us through our agent at 1-800-658-3660
avoid an INTEREST CHARGE.
may demand immediate payment of the entire amount you owe us
contract involving interstate commerce which is subject to the
orally of the loss, theft, or possible unauthorized use. You may
without giving you prior notice, if: (a) your Minimum Payment
Federal Arbitration Act and that any Dispute shall be settled by
also notify us in writing of loss, theft, or possible unauthorized use
THE INTEREST CHARGE is determined by multiplying the
Due is not received by the Payment Due Date; (b) you make
binding Arbitration in accordance with the applicable rules and
at CARD PROCESSING CENTER, PO Box 495933, Cincinnati,
Average Daily Balance for Purchases and for Cash Advances
Purchases or obtain Cash Advances in excess of your credit line;
procedures of the American Arbitration Association ("AAA"),
OH 45249-5933. In either case, your maximum liability is $50 for
outstanding during the monthly billing cycle by the monthly
(c) you become insolvent or are a party to a bankruptcy
except as modified herein with the sole exception of collection
unauthorized charges to your Account made prior to receipt of
Periodic Rate. The monthly Periodic Rate for Purchases and Cash
proceeding; (d) in the case of an Account with co-obligors where
actions by us relating to your Account. You and we agree that the
your oral or written notification.
Advances is 1.24%, which is equivalent to an ANNUAL
either of you request termination of the other; (e) you or a co-
arbitrator has no authority to conduct class-wide proceedings and
PERCENTAGE RATE of 14.9%
obligor dies; (f) you provide false information to us, misuse the
will be restricted to resolving the individual disputes between the
6.
Promise to Pay. By applying for and obtaining credit on your
Account or Card or violate any term of this Agreement; (g) any
parties. You further agree to waive any claim for punitive damages
Account, you agree jointly and severally, if more than one person
judgment or lien is filed against you; or (h) we reasonably believe
to the extent permitted by law. The arbitrator otherwise has the
applies for the Account, to be obligated and pay for all credit
The Average Daily Balance is computed by taking the beginning
that your ability to repay your obligations to us has been materially
ability to award all remedies otherwise available by statute, at law
obtained on your Account by you or any person you authorize to
balance of your Account on each day, calculated separately for
impaired. We shall also have the right to all remedies provided by
or in equity to the prevailing party including the recovery of
use your Card, as well as our Interest charges and any other fees
Purchases and Cash Advances, adding new Purchases and Cash
law including, without limitation, closing or refusing to renew
reasonable attorneys' fees and the costs of arbitration, as
imposed by us, as provided for in the Agreement. You agree to pay
Advances and subtracting any payments and credits. Any resulting
your Account and demanding return of your Card(s). If we refer
determined by the arbitrator. Judgment upon the award rendered
us only in U.S. Dollars drawn on U/S/ financial institutions.
credit balance is treated as a zero ($0.00) balance. This gives us the
your Account for collections to an attorney who is not our
by an arbitrator may be entered in any court having jurisdiction
daily balance. The daily balances are then added together and
regularly salaried employee, you agree to pay the reasonable fees
thereof. YOU UNDERSTAND THAT YOU WILL NOT HAVE
7.
Irregular Payment and Delay in Enforcement, Waivers and
divided by the number of days in the billing cycle to get the
of such attorney and, whether or not an attorney is retained, all
THE RIGHT TO GO TO COURT, TO HAVE A JURY TRIAL,
Releases. We can accept late payments, partial payments, checks
Average Daily Balance.
court and other collection costs (including any amounts actually
TO ENGAGE IN PRE-ARBITRATION DISCOVERY (EXCEPT
and money orders marked "paid in full" or language having the
incurred by us in recovering your Cards(s)).
AS PROVIDED FOR IN THE ARBITRATION RULES), OR TO
same effect without losing any of our rights under this Agreement.
Minimum Interest Charge. The minimum Periodic INTEREST
PARTICIPATE AS A REPRESENTATIVE OR MEMBER OF
We can also delay enforcing our rights under this Agreement any
CHARGE each billing cycle, based on the Periodic Rate, is $.50.
12. Refusals to Honor Card. We are not responsible for refusals to
ANY CLASS OF CLAIMANTS PERTAINING TO ANY
number of times without losing them and can waive or delay
honor your Card. And, except as otherwise required by law or
DISPUTE. OTHER RIGHTS THAT YOU WOULD HAVE IF
enforcing a right against one of you without waiving or delaying it
Cash Advance Fee. In addition to the INTEREST CHARGE on
regulations, we will not be responsible for merchandise or services
YOU WENT TO COURT MAY ALSO BE UNAVAILABLE IN
as to the other. No waiver by us of any default shall be effective
Cash Advances calculated by application of the Periodic Rate,
purchased through use of your Card.
ARBITRATION. If any portion of this Arbitration Agreement is
unless in writing nor operate as a waiver of any other future
there is a INTEREST CHARGE of 3% (minimum $5.00),
subsequently deemed unenforceable, the enforceability of any
default. We can release any one of you in whole or in part without
whichever is greater, for each Cash Advance posted to your
13.
Termination. We may terminate your privileges under the
other provision of this Arbitration Agreement shall not be affected
affecting your obligation under this Agreement.
Account that month.
Agreement or cancel or limit your privileges to make Purchases or
and the unenforceable term shall be amended such that it is
obtain Cash Advances at any time, with or without cause, without
enforceable to the maximum extent permitted by law.
8.
Minimum Payments. You may pay your New Balance each
Replacement Card Fee. If at any time you request a replacement
notice or liability. If we ask, you must return your Card(s) to us,
month, or you may pay in monthly installments. If you decide to
credit card due to loss, damage, theft, or destruction of your
cut in half. You agree that you will not try to make any Purchases
17. Venue and Jurisdiction. You consent to be subject to the
pay in monthly installments, you must pay at least the Minimum
current credit card, you may be charged a Replacement Card Fee
or obtain Cash Advances after you have been notified that your
jurisdiction and venue of the Circuit Court for the Third Judicial
Payment Due shown on your Monthly Billing Statement by the
of $5.00. No replacement Card will be allowed on the third lost or
privileges to use your Account have been canceled. You may
Circuit, State of South Dakota, and agree that such court shall be
Payment Due Date. You may pay more than the Minimum
stolen Card. This fee is an INTEREST CHARGE.
cancel this Agreement by returning all Cards issued on your
the sole and exclusive jurisdiction and venue of all court actions of
Payment Due and may at any time pay your total balance due. We
Account to us, cut in half. Your or our termination or cancellation
disputes or claims arising from or relating to this Agreement or the
will apply payments to amounts owed on your Account based on
10. Fees. Your Account is subject to the following fees, each of which
will not affect your existing obligations under this Agreement.
Account relationship.
applicable law.
will be charged to your Account as a Purchase:
14. Notices. We will send statements and any other notices to you at
18. Applicable Law. This Agreement is entered into in the State of
If your New Balance is greater than $20.00, then the Minimum
Late Fee. If we do not receive a payment from you in at least the
the address shown in our files. If this is a Joint Account, we can
South Dakota where the decision to grant credit is made and in
Payment Due will be the greater of $20.00 or 3% of your total
amount of your Minimum Payment Due by the Payment Due Date
notify one of you and the notice will be effective for both of you.
which payments will be received. Therefore, this Agreement will
outstanding balance, plus any Late Fee, and any amount that is
shown on any Monthly Billing Statement, you may be charged a
Similarly, one of you can notify us and we will consider it to be
be governed by the laws of the State of South Dakota without
delinquent. If the New Balance is less than $20.00 you pay only
Late Fee equal to the amount of the Minimum Payment Due up to
notice from both of you. You promise to inform us promptly in
giving reference to its conflict of law provisions. If there is any
the New Balance. When we calculate the Minimum Payment Due,
a maximum of $25.00.
writing of any change in your address. In determining your last
conflict between any of the terms and conditions of this Agreement
it will be rounded to the next highest $5.00 increment.
known address, we can accept address corrections received from
and applicable law, this Agreement will be considered changed to
Returned Payment Fee. If you make a payment on your Account
the U.S. Postal Service.
the extent necessary to comply with the law. The other provisions
and your check or other payment instrument is not honored for any
of the Agreement shall not be affected.
reason or cannot be processed, we may charge a Returned Payment