PLATINUM MASTERCARD 
CREDIT CARD 
 TERMS AND CONDITIONS 

EFFECTIVE DECEMBER 2016 

1 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest Rates and Interest Chargeszzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz                                                                                                                           
Annual Percentage 
Rate(APR) for 
Purchases 

0.00% Introductory APR for a period of twelve (12) 
billing cycles. After that, your APR will be 9.74% to 
23.49%, based on your creditworthiness when you 
open your account.  

This APR will vary with the market based on the Prime 
Rate.1 

APR for Balance 
Transfers 

0.00% Introductory APR for a period of twelve (12) 
billings cycles for balance transfers made within 90 
days of opening your account.  

After that, your APR will be 9.74% to 23.49%, based on 
your creditworthiness when you open your account.  

This APR will vary with the market based on the Prime 
Rate.1 

Penalty APR and 
When It Applies 

19.74% to 32.99% 
when you open your account, based on your 
creditworthiness. 

This APR will vary with the market based on the Prime 
Rate. 3 
This APR may be applied to the entire balance on your 
account if you: 

-   Make a late payment 

How Long Will the Penalty APR Apply? If your APRs are 
increased for any of these reasons, the Penalty APR will 
apply until your account is current for six (6) 
consecutive months; contact the credit union to 
apply for a rate reduction. 

APR for Cash 
Advances 

22.74% to 28.24%, based on your creditworthiness 
when you open your account.  

These APRs will vary with the market based on the 
Prime Rate.2 

2 

 
 
 
 
 
 
 
 
 
 
 
How to Avoid Paying 
Interest on Purchases 

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. 

Minimum Interest 
Charge 

If you are charged interest, the charge will be no less 
than $0.01 

For Credit Card Tips 
from the Consumer 
Financial Protection 
Bureau 

To learn more about factors to consider when 
applying for or using a credit card, visit the website of 
the Consumer Financial Protection Bureau at 
http://www.consumerfinance.gov/learnmore 

Fees                                                                   zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz                                                                                                                           
Annual Fees 

None 

Transaction Fees 

  Balance Transfer 

Either $10 or 3% of the amount of each transaction, 
whichever is greater. 

  Cash Advances 

Either $10 or 4% of the amount of each transaction, 
whichever is greater. 

  Foreign 

None 

Transactions 

Penalty Fees 

  Late Payment 

$7 or the amount of the required minimum payment, 
whichever is less, if you are five (5) or more days late in 
making a payment. 

  Returned 
Payment 

$25 or the amount of the required minimum payment, 
whichever is less. 

  Over Limit Fee 

None 

3 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
How We Will Calculate Your Balance: We use a method called “average 
daily balance (including new purchases).”  

Payment Allocation: Payments are allocated to posted balances. If your account 
has balances with different APRs, we will allocate the amount of your payment 
equal  to  the  Total  Minimum  Payment  Due  to  the  lowest  APR  balances  first. 
Payment amounts in excess of your Total Minimum Payment Due will be applied 
to balances with higher APRs before balances with lower APRs.  

More Information about Penalty Fees 

Penalty Fees: If your Total Minimum Payment Due is not received within 5 days of 
your Payment Due Date, a Late Payment Fee will be assessed. However, the Late 
Payment Fee will not exceed the total minimum payment that was due.  

Prime Rate: Variable APRs are based on the 3.75% Prime Rate as of 12/20/2016.  
1 We add 5.99% to 19.74% to the Prime Rate to determine the Purchase/Balance 
Transfer APR.  
2  We  add  18.99%  to  24.49%  to  the  Prime Rate  to  determine  the  Cash  Advance 
APR. 
3 We add 15.99% to 29.24% to the Prime Rate to determine the Penalty APR 

APPLICATION CONDITIONS  

By submitting this application, you: (1) acknowledge that you have reviewed the 
credit  card  Terms  and  Conditions;  (2)  agree  to  submit  your  application  for  this 
credit card subject to those Terms and Conditions; and (3) authorize us to use the 
information in your application, and any other information we or our affiliates have 
about you, to determine your ability to pay, as required by Federal law.  

You  have  reviewed  the  accompanying  application,  and  you  affirm  that 
everything you have stated is true and complete. You are at least 18 years of age. 
You authorize Financial Partners Credit Union, (hereinafter “us” or “our”) to obtain 
your  credit  report(s),  employment  history  and  any  other  information  in  order  to 
approve  or  decline  this  application,  service  your  account,  and  manage  our 
relationship with you. You consent  to  our sharing of information about  you and 
your  account  with  the  organization,  if  any,  endorsing  this  credit  card  program. 
You  authorize  us  to  share  with  others,  to  the  extent  permitted  by  law,  such 
information  and  our  credit  experience  with  you.  In  addition,  you  may  as  a 
customer later indicate a preference to exempt your account from some of the 
information-sharing  with  other  companies  (“opt-out”).  If  you  accept  or  use  an 
account, you do so subject to the terms of this application, the “Details of Rate, 

4 

 
 
 
 
Fee and Other Cost Information” and the Credit Card Agreement, as it may be 
amended; you also agree to pay all charges incurred under such terms. You also 
understand  that  the  Annual  Percentage  Rate  you  receive  will  be  determined 
based on your creditworthiness. You understand that only a portion of your Total 
Credit Line will be available for Cash Advances. You accept that on a periodic 
basis your account may be considered for automatic upgrade at our discretion. 
You consent to and authorize us, any of our affiliates, or our marketing associates 
to  monitor  and/or  record  any  of  your  phone  conversations  with  any  of  our 
representatives. If additional information is required to process your application, 
we  will  make  every  attempt  to  contact  you.  You  understand  that  if  your 
application is approved with a credit line that is greater than or equal to $5,000, 
you will receive a World MasterCard account; if your credit line is less than $5,000, 
you  will  receive  a  MasterCard  account.  The  benefits  for  MasterCard  accounts 
differ from World MasterCard accounts 

FPCU Credit Card Terms and Conditions 

Online and Mobile Banking. To access Online or Mobile Banking, you must enroll 
in the service. Once enrolled, the same Online ID and pass code can be used 
to  access  both  Online  and  Mobile  Banking.  View  the  Online  Banking  Service 
Agreement  at  www.FPCU.org  for  more  information  about  both  Mobile  and 
Online  Banking.  Data  connection  required.  Wireless  carrier  fees  may  apply. 
Enrollment not available through the Mobile App on all devices.  

Alerts. Alerts  received  as  text  messages on  your  mobile  access  device may 
incur a charge from your mobile access service provider. Mobile App alerts 
are not available on select devices.  

$0 Liability Guarantee. The $0 Liability Guarantee covers fraudulent purchases 
and payments made by others using your account. To be covered, don’t share 
personal  or  account  information  with  anyone.  Claims  may  only  be  filed  by 
accountholder  against  posted  and  settled  transactions  subject  to  dollar  limits 
and  verification, 
information  supporting 
fraudulent use claim.  

including  providing 

requested 

Text Banking. Financial Partners Credit Union does not charge for Text Banking. 
However,  your  mobile  service  provider  may  charge  for  sending  and  receiving 
text messages on your mobile phone. Check with your service provider for details 
on specific fees and charges that may apply.  

BALANCE TRANSFERS  

Allow at least 2-3 weeks from account opening for processing. Continue paying 
each  creditor  until  the  transfer  appears  as  a  credit.  Balance  Transfers  incur 

5 

 
 
 
 
interest charges from the transaction date. If the total amount you requested 
exceeds your total credit line, we may send partial payment or not send any 
payment.  If you revolve your balance to take advantage of a promotional or 
introductory offer, all transactions and balances, including purchases, will be 
charged  interest.  The  Balance  Transfer  fee  is  3%  of  the  amount  of  the 
transaction, or $10 whichever is greater. If you have a dispute with a creditor 
and  pay  that  balance  by  transferring  it  to  your  new  account,  you  may  lose 
certain  dispute  rights.  Balance  Transfers  may  not  be  used  to  pay  off  or  pay 
down any account issued by Financial Partners Credit Union.  

REWARDS PROGRAM 

We will mail you a Partnership Rewards Agreement containing additional rewards 
program terms once your account is established. 

The value of this reward may constitute taxable income to you. You may be issued 
an Internal Revenue Service Form 1099 (or other appropriate form) that reflects 
the  value  of  such  reward.  Please  consult  your  tax  advisor,  as  neither  Financial 
Partners Credit Union, its affiliates, nor their employees provide tax advice 

You may earn Points as long as your card account is  open and current. If your 
card account is closed, you will not be able to earn Points and you will lose any 
accumulated  Points.  Balance  transfers,  cash  advances,  convenience  checks, 
returned purchases, disputed or unauthorized purchases/fraudulent transactions, 
finance  charges,  Card  Account  fees,  and  fees  for  services  and  programs  you 
elect to receive through us do not earn Points unless otherwise specified.  

5,000 Points:  
To  qualify  for  the  5,000  Points,  you  must  make  purchases  with  your  Financial 
Partner Rewards MasterCard  that  total $1,000 or more within your first 3 months 
from account opening. Qualifying purchases can be made by the cardmember 
and any additional cardmembers on a single card account. Purchases to meet 
the  spending  requirement  do  NOT  include  fees  or  interest  charges,  balance 
transfers, cash advances, purchases of traveler's checks, purchases or reloading 
of prepaid cards, or purchases of any cash equivalents. Additional cardmembers 
on  your  account  are  not  eligible  for  this  offer.  To  receive  the  5,000  Points,  your 
card account must be active, in good standing, and not in default at the time 
the points are credited to your card account. Limit one offer per card account.  

Bonus Categories:  
For each dollar charged on an eligible purchase in each billing period on your 
Financial Partners Platinum Rewards MasterCard, you earn one Point. You earn: 
2 additional points (for a total of 3 points) for gasoline at gas stations located in 
the  U.S.  (superstores,  supermarkets  and  warehouse  clubs  that  sell  gasoline  are 

6 

 
 
 
 
 
not  considered  gas  stations);  1  additional  point  (for  a  total  of  2  points)  for 
purchases  at  supermarkets  and  drug stores  (Superstores  and  warehouse  clubs 
that sell groceries and pharmaceuticals are not considered supermarkets and 
drug stores);  1  additional  point  (for  a  total  of  2  points)  for  purchases  at  utilities 
(cell phone, cable TV, electricity, and water); and 1 additional point (for a total 
of 2 points) for purchases at health clubs 

Merchant Funded points (ShopSpot).  Cardmembers can earn additional bonus 
points from participating merchants when using their rewards card for purchases 
at  participating  ShopSpot  merchants,  both  online  and  in-store.    Bonus  point 
earnings  will  vary  based  upon  the  merchant.    Each  merchant's  bonus  point 
earnings ratio is listed on the program's reward website. 

By  providing  your  email  address  when  you  register  on  the  rewards  website  or 
complete  your  reward  profile,  you  can  agree  to  receive  all  future  ShopSpot 
correspondence  and  notices  electronically  to  that  email  address.    Email  is  the 
primary  method  for  contacting  cardholders  regarding  their  participation  in  the 
program.    It  is  the  cardholder's  responsibility  to  update  or  change  the  email 
address on file.  This can be done on the program's website.  

New merchant offers are updated periodically.  There is not a limit to the number 
of  times  a  cardholder  can  earn  bonus  points  for  shopping  at  a  ShopSpot 
merchant. 

Qualified ShopSpot transactions usually will post to cardholder accounts within 7-
10 days after the transaction is made.  Bonus points will show as pending until they 
are issued to the cardholder, which may be frequently as daily or up to 45-90 days 
to process. 

Eligible Purchases for Reward Points 
Eligible purchases are purchases for goods and services minus returns and other 
credits.  Eligible  purchases  do  NOT  include  fees  or  interest  charges,  balance 
transfers, cash advances, purchases of traveler’s checks, purchases or reloading 
of prepaid cards, or purchases of other cash equivalents. Additional terms and 
restrictions  apply.  Merchants  are  assigned  codes  based  on  what  they  primarily 
sell.  A  purchase  will  not  earn  additional  points  if  the  merchant's  code  is  not 
eligible.  

The  information  contained  in  these  disclosures  is  updated  regularly,  but  may 
have  changed  since  the  last  update.  Financial  Partners  Credit  Union  Privacy 
Notice is available at www.FPCU.org and accompanies the credit card.  

This credit card program is issued and administered by Financial Partners Credit 
Union. Any account opened in response to this application shall be governed by 

7 

 
 
 
 
 
 
 
the laws of the State of California. The rewards program is managed in part by 
independent third parties. 

8