ADDENDUM TO YOUR CARDHOLDER AGREEMENT 
Lake Michigan Credit Union 
PO Box 2848, Grand Rapids, MI  49546 - 800.242.9790 

Effective Date: 04/23/2022 

Prime Rate: 3.50% 

Interest Rates and Interest Charges 

ANNUAL PERCENTAGE RATE (APR) 

1.  Purchases 

2.  Cash Advances  

3.  Balance Transfers 

Penalty APR and When it Applies 

How to Avoid Paying Interest 

Prime Platinum Visa:  

Variable Rate:  

  6.50 – 14.50% 

Max Rewards Platinum Visa:  

Variable Rate:  

10.25 – 18.00% 

This APR will vary with the market based on the Prime Rate. 

18.00% 

This APR may be applied to your account if your account is 60 days 
past due.    

How Long Will Your Penalty APR Apply?  If your APRs are 
increased for this reason, the Penalty APR will apply until you make 
six consecutive minimum payments when due.   

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.  We will begin 
charging interest on cash advances and balance transfers on the 
transaction date. 

Minimum Interest Charge 

None. 

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 https://www.consumerfinance.gov/learnmore 

Fees 

Annual Fee 

Transaction Fees 

1.  Balance Transfer 

2.  Cash Advance 

None. 

None. 

3% of the amount of the cash advance. 

3.  Foreign Transaction 

1% of each transaction in U.S. Dollars 

Penalty Fees 

1.  Late Payment 

Up to $15.00 for unpaid balances up to $1,000.00 
Up to $25.00 for unpaid balances of $1,000.00 and greater 

2.  Over-the-Credit Limit 

3.  Returned Payment 

If you opt in, $25.00. 

Up to $25.00. 

SEE NEXT PAGE for more important information about your account. 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
How We Will Calculate Your Balance:  We use a method called “average daily balance (including new purchases).”   
See your account agreement for more details.  

Billing  Rights:    Information  on  your  right  to  dispute  transactions  and  how  to  exercise  those  rights  is  provided  in  your 
account agreement.   
Lost or Stolen Card Replacement:  First occurrence is $5.00; second occurrence is $10.00; rush card is $30.00. 

Minimum Payment:  Two percent (2%) of the new balance or $20, whichever is greater, plus the amount of balance that 
exceeds the Credit Limit, plus any amounts past due.   

Margin:  
Prime Platinum Visa:  Prime + 3.00% - 11.00% - ceiling 18.00%. 
Max Rewards Platinum Visa:  Prime + 6.75% - 14.50% - ceiling 18.00% 

Rates  shown  are  variable  and  subject  to  change.  Your  rate  may  vary  based  on  individual  creditworthiness  and  our 
underwriting standards. 

The information about the costs of the card described in this application is accurate as of the date above.  This 
information may have changed after that date. To find out what may have changed, contact LMCU via the address 
and phone number in the agreement.