c) Statement Copy – A $5 fee will be charged for any additional Monthly 
Statement copy you request from Purdue Federal.
The charges and fees will be treated by Purdue Federal as an adjustment 
to the Account balance and will not be subject to an Interest Charge; 
however, we may choose to waive any of the charges or fees described in 
this section from time to time.
23. Copies of Documents. You will be charged a $5 fee for a copy of a 
monthly statement that you request from the Contact Center or a teller. 
For a copy of an original sales slip requested from Visa, you will be charged 
their applicable fee.
24. Personal Identification Number (PIN). Upon request we will 
furnish you with a Personal Identification Number (PIN). You agree to keep 
the PIN confidential. You also agree that use of the PIN and Visa card to 
obtain a cash advance or make a purchase constitutes your signature for 
purposes of such transactions.
25. Inactive Accounts. Accounts with expired cards that have no activity 
for a period of 24 months will be closed. Any rewards points accrued with 
this card or account will expire with the card. 
26. Rewards. Your credit card purchases are eligible to earn rewards 
points that never expire. Full rewards terms and conditions are available at 
purduefed.com/rewards.

Your Billing Rights
This notice contains important information about your rights and responsi-
bilities under the Fair Credit Billing Act.
Notify Us in Case of Errors or Questions about Your Statement. If you think 
your statement is wrong or if you need more information about a transac-
tion on your statement, write us as soon as possible on a separate sheet at 
the address listed on your statement. We must hear from you no later than 
sixty (60) days after we sent you the first statement on which the error 
or problem appeared. You can call us, but doing so will not preserve your 
rights. In your letter, give us the following information:

•	 Your name, account number, current address and daytime   

telephone number
The dollar amount of the suspected error

•	
•	 Description of the error and an explanation, if you can, why you 

•	

believe there is an error. If you need more information, describe the 
information you are not sure about.
If you are disputing a transaction, further information about the 
dispute will be requested in writing by Purdue Federal in accordance 
with Visa U.S.A. operating rules. Contact Purdue Federal for more 
details.

If you have authorized us to pay your credit card bill automatically from 
your savings or share draft account, you can stop the payment on any 
amount you think is wrong. To stop the payment, your letter must reach 
us three (3) business days before the automatic payment is scheduled to 
occur.
Your Rights and Responsibilities After We Receive Your Written 
Notice. We must acknowledge your letter with a written notice within 
thirty (30) days, unless we have corrected the error by then. Within two 
Billing Cycles, but no later than ninety (90) days, we must either correct 
the error or explain why we believe the statement was correct.
After we receive your letter, we cannot try to collect any amount you 
question or report you as delinquent. We can continue to bill you for 
the amount you question, including Interest Charges and we can apply 
any unpaid amount against your credit limit. You do not have to pay any 
questioned amount while we are investigating, but you are still obligated 
to pay the parts of your statement that are not in question.
If we find we made a mistake on your statement, you will not have to pay 
any Interest Charges related to any questioned amount. If we didn’t make 
a mistake, you may have to pay Interest Charges and you will have to make 
up any missed payments on the questioned amount. In either case, we will 
send you a statement of the amount you owe, the date it is due and copies 
of documents or evidence, if requested by you.
If you fail to pay the amount you owe, we may report you as delinquent; 
however, if our explanation does not satisfy you and you write us within 
ten (10) days telling us you still refuse to pay, we must tell anyone we 
report you to that you have a question about your statement. We must 
tell you the name of anyone we reported you to. We must tell anyone we 
report you to that the matter has been settled between us when resolved.
Special Rule for Credit Card Purchases. If you have a problem with the 
quality of property or services you purchased with a 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 property or 
services. There are two limitations on this right:
(a) You must have made the purchase in your home state, if not within 
your home state within one hundred (100) miles of your current mailing 
address.
(b) The purchase price must have been more than $50.
These limitations do not apply if we own or operate the merchant, or if we 
mailed you the advertisement for the property or services.

PURDUE FEDERAL CREDIT UNION VISA AGREEMENT AND 
DISCLOSURE STATEMENT
This table provides important information regarding your credit card account with 
Purdue Federal Credit Union.

Interest Rates and Interest Charges

Annual Percentage Rate
(APR) for Purchases

APR for Purchases

APR for Balance Transfers

APR for Cash Advances

Penalty APR and When it 
Applies

A fixed rate of  15.5%
(The rate you receive is based on your credit worthiness.)
1.9% introductory APR for 12 months from date of 
account opening. After that, your APR will revert to your 
assigned APR of

15.5%

1.9% introductory APR for 12 months from date of 
account opening. After that, your APR will revert to your 
assigned APR of

15.5%

1.9% introductory APR for 12 months from date of 
account opening. After that, your APR will revert to your 
assigned APR of

15.5%

1.9% introductory APR reverts to assigned account 
APR for missed or late payment. There are no additional 
penalty rates associated with this offer.

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 interest on purchases if 
you pay your entire balance by the due date each month.

Minimum Interest Charge

$0.00

For Credit Card Tips from 
the Federal Reserve Board

To learn more about factors to consider when applying for or 
using a credit card, visit the website of the Federal Reserve 
Board at http://www.federalreserve.gov/creditcard.

Fees

Annual Fees

Transaction Fees

None

No Balance Transfer Fee 
No Cash Advance Fee
Foreign Transaction Fee up to 1% (fee collected by Visa).
Purdue Federal does not charge an additional foreign transaction fee.

Penalty Fees

Late Payment Fee up to $25.00

How We Will Calculate Your Balance: We use a method called Average Daily Balance, which 

includes new purchases.

Loss of Introductory APR: We may end your introductory APR and apply the penalty APR if you 

make a late payment.

PO Box 1950 // West Lafayette, IN 47996-1950
765.497.3328 // 800.627.3328 // purduefed.com

08/13

PO Box 1950 // West Lafayette, IN 47996-1950
765.497.3328 // 800.627.3328 // purduefed.com

Visa® Credit Card 
Disclosure and 
Agreement

PLEASE RETAIN THIS INFORMATION WITH OTHER FINANCIAL DOCUMENTS.
This Agreement covers each Visa Account “Account” you have with us. It 
also covers the use of your Purdue Federal Credit Card Convenience Checks 
“Convenience Checks” in connection with your Account. The words “you” 
and “your” mean each and all of those who sign an Account application 
and any person authorized to access your account. “Card” means a Visa 
credit card and any duplicates and renewals Purdue Federal Credit Union 
“Purdue Federal” issues. “Account” means your Visa credit card line of credit 
account with Purdue Federal. By requesting, signing, using or keeping your 
card and/or Convenience Checks, you are agreeing to all the terms and 
conditions of this document including the right to cross-collateralization 
and the granting of a security interest.
1. Using the Account. When you are approved for a Visa Account, Purdue 
Federal establishes a line of credit for you and notifies you of its amount 
when the Card is sent to you. In order for it to be valid, you must sign your 
Card as soon as you receive it. By requesting, signing, using or keeping 
your Card and/or Convenience Checks, you accept this Agreement. You 
also accept this Agreement by using your Card or Convenience Checks. 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 only by submitting an application, which may be approved by Purdue 
Federal. Purdue Federal has the right to increase, reduce or terminate your 
credit limit at any time.
2. Using the Card. You may use the Card issued to you to make purchases 
in person or by mail, telephone or Internet from merchants and others who 
accept Visa cards. In addition you may obtain cash advances from Purdue 
Federal, other financial institutions participating in the Visa program and 
select Automated Teller Machines (ATMs), such as Visa ATM Network, that 
provide access to the Visa system (not all ATMs provide such access). You 
will need to use your Personal Identification Number (PIN) to obtain a cash 
advance from an ATM. A Visa card may not be used for any illegal transac-
tion.
3. Using Convenience Checks. We may supply you with Convenience 
Checks from time to time. You may use these checks to draw on your 
available line of credit on your Account. A Convenience Check drawn on 
your Account is a loan from Purdue Federal to you. You will owe us for the 
amount of the Convenience Check plus the applicable Interest Charge from 
the date of the transaction.

4. Overdraft Protection. If you have requested your Account to be used 
to provide Overdraft Protection for a Checking Account maintained with 
Purdue Federal, funds may be transferred from your Visa Account to the 
Checking Account in accordance with the Guide to Member Services gov-
erning the Checking Account. All funds will be transferred in increments 
of $100 and are processed as a cash advance under this Agreement and 
treated as such. Such transfers are loans by us to you. You will owe Purdue 
Federal for the amount of such transfers plus the applicable Interest 
Charge. You understand that anyone who is authorized to make withdraw-
als from the Checking Account may access your Visa Account through 
Overdraft Protection.
5. Responsibility. You agree to pay all charges (purchases, transfers and 
cash advances) to your Account made by you or anyone who you autho-
rized to use your Account. 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 Purdue Federal is not a party may 
direct someone else to pay the Account balance. If more than one person 
signs this Agreement, each is individually responsible for all amounts 
owed on the Account and all are jointly responsible for all amounts owed. 
This means Purdue Federal can enforce this Agreement against any of you 
individually or all of you together.
6. Making Payments. You promise to pay all amounts you owe on your 
Account, including any Interest or Late Charge. When you receive your 
billing statement you may pay the full amount due or a lesser amount, but 
the least you may pay is the minimum payment amount shown on your 
billing statement. Your minimum payment will be any amount past due 
or over-the-limit plus the larger of 3% of your new balance or $25. If we 
elect not to require a minimum monthly payment at any time, the Interest 
Charge on your Account will continue to accrue at the Annual Percentage 
Rate. Whatever you choose to pay, your payment must reach us no later 
than the payment due date shown on your statement.
7. Interest Charges. The Annual Percentage Rate is an interest rate set by 
Purdue Federal. Separate Interest Charges for purchases and cash advances 
are determined by multiplying the periodic rate by the separate average 
daily balance for purchases and cash advances. Each average daily balance 
is determined by taking the beginning balance (of cash advances or pur-
chases) in your Account each day, adding any new purchases or cash ad-
vances (whichever is applicable) and subtracting any payments or credits. 
The results are the daily balances. All daily balances for the statement cycle 
are added and the total is divided by the number of days in the statement 
cycle to arrive at the average daily balance for the cycle. Cash advances are 
always subject to a Interest Charge from the date they are posted to your 
Account. If a grace period applies:
(a) Purchases. An Interest Charge will be imposed on purchase posted 
during a Billing Cycle when the Previous Balance is not paid in full within 

the first 25 days of the Billing Cycle. An Interest Charge will also be im-
posed on Purchases included in the new balance when the new balance is 
not paid in full within 25 days after the statement date.
(b) Cash Advances. An Interest Charge will be imposed on Cash Advances 
from the date of the transaction to the date paid. The Interest Charge 
accrued on Cash Advances will appear on your next statement. There is no 
time period which to pay to avoid the Interest Charge on Cash Advances.
(c) Balance Transfers. Balance Transfers will be processed as Cash Advances 
and an Interest Charge will be imposed from the date of the transaction 
to the date paid. The Interest Charge accrued on Balance Transfers will 
appear on your next statement. There is no time period which to pay to 
avoid the Interest Charge on Cash Advances. We are not responsible for 
late payment or nonpayment to other card issuers.
8. Monthly Payment. Each month you must pay at least the minimum 
payment shown on your statement by the date specified on your monthly 
statement. You may 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. Your minimum pay-
ment required each month is disclosed on the Agreement under “Making 
Payments”. In addition anytime your Total New Balance exceeds your credit 
limit, you must immediately pay the amount over your credit limit.
9. Payment Allocation. Subject to applicable law, your minimum pay-
ment will be applied to what you owe Purdue Federal in the following 
order: interest, fees, promotional rate balances, cash advance balances and 
purchase balances. Excess payments over the minimum payment will be 
applied to the balance with highest interest rate and any remaining pay-
ment to next highest APR in descending order.
10. Security Interest. You agree this loan is also secured by all the shares 
and deposits in all your individual and joint accounts with Purdue Federal 
now and in the future. Shares and deposits in an Individual Retirement 
Account and any other account that would lose special tax treatment under 
state or federal law if given as security are not subject to the security inter-
est you give in your shares and deposits. Property you have given to secure 
other loans will also secure this loan.
11. Default. You will be in default if you fail to make any minimum pay-
ment or other required payment by the date 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 applications 
or credit update. You will be in default if something happens that Purdue 
Federal believes may substantially reduce your ability to repay what you 
owe. When you are in default, Purdue Federal has the right to demand im-

mediate payment of your full Account balance without notice. If immedi-
ate payment is demanded, you will continue to pay an Interest Charge at 
the periodic rate charged before default, until what you owe has been paid 
and any collateral given as security will be applied toward what you owe 
or sold pursuant to law. To the extent permitted by law, you will also be 
required to pay Purdue Federal’s collection expenses, including court costs 
and reasonable attorney’s fees.
12. Liability for Unauthorized Use. Your Purdue Federal Visa offers 
“zero liability” for unauthorized use. To obtain the “zero liability” status you 
must report any unauthorized use of your Account immediately.
13. Lost Card Notification. If you believe your credit card has been lost 
or stolen, inform Purdue Federal immediately. Notify Purdue Federal in 
writing or by calling 800.627.3328.
14. Changing or Terminating Your Account. Purdue Federal may 
change the terms of this Agreement from time to time after giving you 
advance notice as required by law. Your use of the Card after receiving 
notice of a change will indicate your agreement to the change. To the 
extent the law permits, and indicated in the notice to you, the change will 
apply to your existing Account balance as well as to future transactions. 
Either you or Purdue Federal may terminate this Agreement at any time, 
but termination by you or Purdue Federal will not affect your obligation to 
pay the Account balance plus any Interest Charges and other charges you 
owe under this Agreement. The cards you receive remain the property of 
Purdue Federal and you must recover and surrender to Purdue Federal all 
cards upon request or upon termination of this Agreement whether by you 
or Purdue Federal.
If you choose not to accept any of these terms, your credit limit will be re-
moved and your minimum payment will be calculated based on a five-year 
amortization schedule. To opt out, Purdue Federal requires written notice 
by electronic mail to mbrservice@purduefed.com or by postal mail to PO 
Box 1950, West Lafayette, IN 47996-1950.
15. Credit Information. You authorize Purdue Federal to investigate your 
credit standing when opening or reviewing your Account. You authorize 
Purdue Federal to disclose information regarding your Account to credit 
bureaus and creditors who inquire about your standing.
16. Returns and Adjustments. Merchants and others who honor the 
Card may give credit for returns or adjustments, and they will do so by 
sending Purdue Federal an electronic credit, which will be posted to your 
Account. If your credits and payments exceed what you owe Purdue Fed-
eral, the amount will be credited to your share account. Any outstanding 
credits will be credited to your share account within 30 days.
17. Foreign Transactions. Purchases and cash advances made in foreign 
countries and foreign currencies will be billed to you in U.S. dollars. The 
conversion rate to U.S. dollars will be made in accordance with the operat-

ing regulations for international transactions established by Visa U.S.A. The 
conversion rate to U.S. dollars will be a rate selected by Visa from the range 
of rates available in wholesale currency markets for the applicable central 
processing date, which may vary from the rate Visa itself receives, or the 
government-mandated rate in effect for the applicable central processing 
date, in each instance, plus or minus any adjustment determined by the 
Issuer. You will be charged an International Service Assessment (ISA) fee 
mandated by Visa, up to 1% of the transaction amount based on whether 
the transaction is processed in U.S. dollars or converted to U.S. dollars. All 
transactions, including online transactions, that may have been originated 
by the cardholder in the U.S., but are processed by a foreign merchant are 
subject to this fee. You may not receive prior notification from the mer-
chant that your transaction is processed overseas. This is not a fee assigned 
by Purdue Federal.
18. Merchant Disputes. Purdue Federal is not responsible for the refusal 
of any merchant or financial institution to honor the Card. Purdue Federal 
is subject to claims and defenses (other than tort claims) arising out of 
goods and services you purchase with the Card.
19. Effect of Agreement. This Agreement is the contract that applies 
to all transactions on your Account even though the sales, cash advances, 
credit or other slips you sign or receive may contain different terms. You 
agree to all the terms and charges contained in this Agreement.
20. No Waiver. Purdue Federal can delay enforcing any of its rights any 
number of times without losing these rights.
21. Statements and Notices. You will receive a statement each month 
showing transactions on your Account. Statements and notices will be 
provided to you at your physical or electronic address, whichever method 
you prefer. Notice sent to any one of you will be considered a notice to all. 
Statements may not be generated when there are no transactions on the 
Account. It is your responsibility to notify Purdue Federal upon a change of 
address—electronic mail or postal mail.
22. Other Fees and Charges. Other Charges and Fees that apply will be 
added to your Account on the Monthly Statement for the billing cycle in 
which they are incurred, as follows:
a)  Late Payment – A late fee of $25 or the minimum payment due 
rounded to the whole dollar, whichever is less, will be charged if we do 
not receive your minimum payment on or before the payment due date as 
noted on your Monthly Statement.
b) Returned Check Fee – A fee up to $25 will be charged if you (i) make a 
payment on your account with a check, draft, negotiable order of with-
drawal or similar instrument drawn on a depository institution and such 
instrument is not paid or is dishonored by that financial institution, or 
(ii) issue a Convenience Check for which there are not sufficient available 
funds on your Account.