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Consumer Credit Card Agreement And… | Listerhill Credit Union

Consumer
Credit Card
Agreement
And
Disclosure

Important
information about
your credit card.

Updated September 1, 2021

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This Consumer Credit Card Agreement and Disclosure

together with the Account Opening Disclosure and any

other Account opening documents or any subsequent

documents provided to You related to this Account

(hereinafter collectively referred to as “Agreement”)

govern the terms and conditions of this Account. “We,”

“Us,” “Our” and “Ours” and “Credit Union” refers to

Listerhill Credit Union with which this Agreement is

made. “You,” “Your,” and “Yours” refers to each applicant

and co-applicant for the Account; any person

responsible for paying the Account; and anyone You

authorize to use, access or service the Account. "Card"

means the Visa® credit card and any other access

devices, duplicates, renewals, or substitutions, including

convenience checks, the Credit Union issues to You.

"Account" means the line of credit established by this

Agreement and includes Your Card.

SECURITY INTEREST

You grant the Credit Union a security interest under the

Uniform Commercial Code and under any common law

rights the Credit Union may have in any goods You

purchase.

If You give the Credit Union a specic pledge of shares

by signing a separate pledge of shares, Your pledged

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shares will secure Your Account. You may not withdraw

amounts that have been specically pledged to secure

Your Account until the Credit Union agrees to release all

or part of the pledged amount.

You grant Us a security interest in all individual and

joint share and/or deposit accounts You have with Us

now and in the future to secure Your credit card

Account. Shares and deposits in an IRA or any other

account that would lose special tax treatment under

state or federal law if given as security are not subject

to the security interest You have given in Your shares

and deposits. You may withdraw these other shares

unless You are in default. When You are in default, You

authorize Us to apply the balance in these accounts to

any amounts due. For example, if You have an unpaid

credit card balance, You agree We may use funds in

Your account(s) to pay any or all of the unpaid balance.

Unless otherwise prohibited by federal and/or state law,

collateral securing other loans You have with the Credit

Union may also secure this loan, except that a dwelling

will never be considered as security for this Account,

notwithstanding anything to the contrary in any other

Agreement

1. USING YOUR ACCOUNT — By using the Account or

keeping the Card, You agree to the terms of this

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keeping the Card, You agree to the terms of this

Agreement. You agree to use Your Account in

accordance with this Agreement. Your Account must

only be used for lawful transactions.

2. CREDIT LIMIT — We may establish a credit limit as

part of this Agreement, which You promise not to

exceed. If You exceed the credit limit, You promise to

repay immediately the amount which exceeds the credit

limit, including amounts due to nance charges, fees or

other charges. You may request a credit limit increase on

Your Account only by a method acceptable to the Credit

Union. We may increase or decrease Your credit limit,

refuse to make an advance and/or terminate Your

Account at any time for any reason permitted by law.

3. CONVENIENCE CHECKS — We may, from time to time,

issue convenience checks to You that may be drawn on

Your Account. Convenience checks may not be used to

make a payment on Your Account. If You use a

convenience check, it will be posted to Your Account as a

cash advance. We reserve the right to refuse to pay a

convenience check drawn on Your Account for any

reason and such refusal shall not constitute wrongful

dishonor. You may request that We stop the payment of

a convenience check drawn on Your Account. You agree

to pay any fee as identied in this Agreement imposed to

stop a payment on a convenience check issued on Your

Account. You may make a stop payment request orally, if

permitted, or in writing. Your request must be made

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permitted, or in writing. Your request must be made

with sucient time in advance of the presentment of the

check for payment to give Us a reasonable opportunity

to act on Your request. In addition, Your request must

accurately describe the check including the exact

Account number, the payee, any check number that may

be applicable, and the exact amount of the check. If

permitted, You may make a stop payment request orally

but such a request will expire after 14 days unless You

conrm Your request in writing within that time. Written

stop payment orders are eective only for six months

and may be renewed for additional six month periods by

requesting in writing that the stop payment order be

renewed. We are not required to notify You when a stop

payment order expires. If We re-credit Your Account

after paying a check over a valid and timely stop

payment order, You agree to sign a statement describing

the dispute with the payee, to assign to Us all of Your

rights against the payee or other holders of the check

and to assist Us in any legal action. You agree to

indemnify and hold Us harmless from all costs and

expenses, including attorney's fees, damages, or claims,

related to Our honoring Your stop payment request or in

failing to stop payment of an item as a result of incorrect

information provided to Us or the giving of inadequate

time to act upon a stop payment request. Note: A

convenience check is not a check as that term is dened

under the Uniform Commercial Code. It is an advance

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from Your credit card Account with Us and Your stop

payment rights are provided under this Agreement with

Us.

4. REPAYMENT — You promise to repay all amounts You

owe under this Agreement. Your promise to repay

includes all transactions made to Your Account by You or

anyone You authorize to use Your Account as well as all

interest charges and fees. For each billing period, You

must pay at least the Minimum Payment Due by the

Payment Due Date. The Minimum Payment Due is 2.00%

of Your total New Balance, or $25.00, whichever is

greater, plus any amount past due and any amount by

which You have exceeded Your applicable credit limit. If

Your total New Balance is less than $25.00, then Your

Minimum Payment Due is the amount of the total New

Balance. You may pay more frequently, pay more than

the Minimum Payment Due or pay the total New Balance

in full. If You make extra or larger payments, You are still

required to make at least the Minimum Payment Due

each month Your Account has a balance (other than a

credit balance). The Credit Union may delay replenishing

Your credit limit until the date the payment is posted or

the Credit Union conrms the payment has cleared. Your

payment of the required Minimum Payment Due may be

applied to what You owe the Credit Union in any manner

the Credit Union chooses, as permitted by applicable

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law. If You make a payment in excess of the required

Minimum Payment Due, the Credit Union will allocate

the excess amount rst to the balance with the highest

annual percentage rate (“APR”) and any remaining

portion to the other balances in descending order based

on applicable APR, unless otherwise prescribed by

applicable law. We may accept checks marked "payment

in full" or with words of similar eect without losing any

of Our rights to collect the full balance of Your Account

with Us.

5. INTEREST AND FINANCE CHARGES — We will begin

charging You interest on purchases on the date the

transaction is posted to Your Account. We will begin

charging You interest on cash advances and balance

transfers on the date of the transaction or the rst day

of the billing cycle in which the transaction is posted to

Your Account, whichever is later (transaction date).

However, We will not charge You any interest on new

purchases if Your Account had a zero or credit balance at

the beginning of that billing cycle, or You paid the entire

new balance on the previous cycle's billing statement by

the Payment Due Date of that statement. To avoid an

additional nance charge on the balance of purchases,

You must pay the entire new balance on the billing

statement by the Payment Due Date of that statement.

How We Calculate Your Balance:

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Interest charges on Your Account are calculated

separately for purchases, balance transfers and cash

advances (“Transaction Type”). We gure the interest

charge for each Transaction Type by applying the

periodic rate to each corresponding “average daily

balance.” To get the “average daily balance” for a

Transaction Type We take the beginning balance for that

Transaction Type each day, add any new transactions of

that type, and subtract any unpaid interest or other

nance charges and any applicable payments or credits.

This gives Us the daily balance for each Transaction

Type. Then, for each Transaction Type, We add up all the

daily balances for the billing cycle and divide each total

by the number of days in the billing cycle. This gives Us

the “average daily balance” for each Transaction Type.

6. FEES — In addition to the periodic rate, additional fees

may be imposed on Your Account. If applicable to Your

Account, the fee amounts and explanations are

disclosed on the Account Opening Disclosure

accompanying this Agreement.

7. FOREIGN TRANSACTIONS — Purchases and cash

advances made in foreign currencies will be debited

from Your Account in U.S. dollars. The exchange rate

between the transaction currency and the billing

currency used for processing international transactions

is a rate selected by Visa from a range of rates available

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is a rate selected by Visa from a range of rates available

in wholesale currency markets for the applicable

transaction date, which rate may vary from the rate Visa

itself receives, or the rate mandated by the government

or governing body in eect for the applicable transaction

date. The exchange rate used on the transaction date

may dier from the rate that would have been used on

the processing date or cardholder statement posting

date. A fee (nance charge), calculated in U.S. dollars, will

be imposed on all foreign transactions, including

purchases, cash advances, and credits to Your Account.

A foreign transaction is any transaction that You

complete or a merchant completes on Your Card outside

of the United States, with the exception of U.S. military

bases, U.S. territories, U.S. embassies, or U.S. consulates.

Transactions completed by merchants outside of the

United States are considered foreign transactions,

regardless of whether You are located inside or outside

the United States at the time of the transaction. The

Foreign Transaction Fee is set forth on the Account

Opening Disclosure accompanying this Agreement.

8. AUTHORIZATIONS — We do not guarantee

authorization of a transaction, either by Us or by a third

party, even if You have sucient credit available. You

agree that We will not be liable for failing to give an

authorization. We also reserve the right to limit the

number of transactions that may be approved in one

day. We reserve the right to deny certain transactions for

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any reason and at Our sole discretion, including for

default, suspected fraudulent or unlawful activity,

internet gambling or any indication of increased risk

related to the transaction or the Account. You agree that

We have no requirement to notify You of the specic

reason We denied a transaction. If We detect unusual or

suspicious activity, We may suspend Your credit

privileges until We can verify the activity, or We may

close the Account.

9. INFORMATION UPDATING SERVICE AND

AUTHORIZATIONS — If You have authorized a merchant

to bill charges to Your Card on a recurring basis, it is

Your responsibility to notify the merchant in the event

Your Card is replaced, Your Account information (such as

Card number or expiration date) changes, or Your

Account is closed. However, if Your Card is replaced or

Your Account information changes, You authorize Us,

without obligation on Our part, to provide the updated

Account information to the merchant in order to permit

the merchant to bill recurring charges to Your Card. You

authorize Us to apply such recurring charges to Your

Card until You notify Us that You have revoked

authorization for the charges to Your Card. Your Card is

automatically enrolled in an information updating

service. Through this service, Your updated Account

information (such as Card number or expiration date)

may be shared with participating merchants to facilitate

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continued recurring charges. Updates are not

guaranteed before Your next payment to a merchant is

due. You are responsible for making direct payment until

recurring charges resume. To revoke Your authorization

allowing Us to provide updated Account information to a

merchant, please contact Us.

10. PREAUTHORIZED CHARGES — We may suspend

preauthorized recurring charges with merchants if, for

example, Your Card is lost or stolen, You default, or We

change Your Account for any reason. If preauthorized

recurring charges are suspended, You are responsible

for making direct payment for such charges until You

contact the merchant to reinstate recurring charges.

11. DEFAULT — You will be in default under this

Agreement if You fail to pay the Minimum Payment Due

by its Payment Due Date; pay by a check or similar

instrument that is not honored or that We must return

because it cannot be processed; pay by automatic debit

that is returned unpaid; make any false or misleading

statements in any credit application or credit update; le

for bankruptcy; or die. You will also be in default if You

fail to comply with the terms of this Agreement or any

other Agreement You have with Us. If You default, We

may close Your Account and require You to pay any

unpaid balance immediately, subject to applicable law. In

this Agreement and on Your Credit Card Application, You

gave Us a security interest in all individual or joint share

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gave Us a security interest in all individual or joint share

and/or deposit accounts with the Credit Union and

authorized Us, if You defaulted, to apply the balance in

these accounts to any amounts due. You agree We may

rely on Your agreement and authorization to, upon Your

default, apply any balance to any amounts due on Your

Account.

12. LIABILITY FOR UNAUTHORIZED USE-LOST/STOLEN

CARD NOTIFICATION — If You notice the loss or theft of

Your credit card or a possible unauthorized use of Your

Card, You should call Us immediately at 888-918-7819 or

800-239-6033 or write to Us at P.O. Box 566, Sheeld,

AL, 35660-0566. You will not be liable for any

unauthorized use that occurs after You notify Us. You

may, however, be liable for unauthorized use that occurs

before Your notice to Us. You will have no liability for

unauthorized use unless You are found to be fraudulent

or negligent in the handling of Your Account or Card. In

any case, Your liability for unauthorized transactions will

not exceed $50.

13. CHANGING OR TERMINATING YOUR ACCOUNT — As

permitted by law, the Credit Union may change the

terms of this Agreement and any attached Disclosure

from time to time. Notice of any change will be given in

accordance with applicable law. To the extent permitted

by law, changes to the Agreement may apply to Your

existing account balance as well as to future

transactions. Arizona, California, Idaho, Louisiana, New

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transactions. Arizona, California, Idaho, Louisiana, New

Mexico, Nevada, Texas, Washington, and Wisconsin

Residents - Either You, Your spouse or the Credit Union

may terminate this Agreement at any time, but

termination by You, Your spouse or the Credit Union will

not aect Your obligation to pay the account balance

plus any nance and other charges You or Your spouse

owe under this Agreement. Your obligation to pay the

account balance plus any nance and other charges You

owe under this agreement are subject to all applicable

laws and regulations regarding repayment

requirements. The Card or Cards You receive remain the

property of the Credit Union and You must recover and

surrender to the Credit Union all Cards upon request or

upon termination of this Agreement whether by You or

the Credit Union. Residents of all other states - Either

You or the Credit Union may terminate this Agreement

at any time, but termination by You or the Credit Union

will not aect Your obligation to pay the account balance

plus any nance and other charges You owe under this

Agreement. Your obligation to pay the account balance

plus any nance and other charges You owe under this

agreement are subject to all applicable laws and

regulations regarding repayment requirements. The

Card or Cards You receive remain the property of the

Credit Union and You must recover and surrender to the

Credit Union all Cards upon request or upon termination

of this Agreement whether by You or the Credit Union.

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14. AUTHORIZED USERS — Upon Your request, We may

issue additional Cards for authorized users that You

designate. You must notify Us in writing of any

termination of an authorized user's right to access Your

Account. Your notice must include the name of the

authorized user and Your Account number and/or any

sub account number issued to the authorized user along

with the authorized user's Card and any convenience or

other access checks issued to the authorized user. If You

cannot return the authorized user's Card or access

checks and if You request Your Account to be closed, We

will close Your Account and You may apply for a new

Account. Alternatively, We may, at Our sole discretion,

issue You a new Account number and a new Card.

15. CREDIT REPORTS — You authorize the Credit Union

to obtain credit reports and any other information We

may need to verify Your identity and use of the Account

when opening Your Account and for any update,

increase, renewal, extension, collection or review of Your

Account. You authorize the Credit Union to disclose

information regarding Your Account to credit bureaus

and creditors who inquire about Your credit standing.

16. JOINT ACCOUNTS — If this is a joint Account, each of

You will be individually and jointly responsible for paying

all amounts owed under this Agreement. This means

that the Credit Union can require anyone of You

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that the Credit Union can require anyone of You

individually to repay the entire amount owed under this

Agreement. Each of You authorizes the other(s) to make

transactions on the Account individually. Any one of You

may terminate the Account and the termination will be

eective as to all of You.

17. EFFECT OF AGREEMENT — This Agreement is the

contract which applies to all transactions on Your

Account even though the sales, cash advances, credit or

other slips You sign or receive may contain dierent

terms.

18. SEVERABILITY AND FINAL EXPRESSION — This

Agreement is the nal expression of the terms and

conditions of Your Account. This written Agreement may

not be contradicted by evidence of any alleged oral

Agreement. Should any part of this Agreement be found

to be invalid or unenforceable, all other parts of this

Agreement shall remain in eect and fully enforceable to

the fullest extent possible under this Agreement.

19. ILLEGAL TRANSACTIONS PROHIBITED — You agree

that You will not use Your Card for any transaction,

including any type of electronic gambling transaction

through the Internet, that is illegal under applicable

federal, state, or local law. Even if You use Your Card for

an illegal transaction, You will be responsible for all

amounts and charges incurred in connection with the

transaction. This paragraph shall not be interpreted as

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permitting or authorizing any transaction that is illegal.

20. APPLICABLE LAW — The terms and enforcement of

this Agreement shall be governed by federal law and the

law of Alabama.

21. ENFORCING THIS AGREEMENT — We can delay in

enforcing or fail to enforce any of Our rights under this

Agreement without losing them.

22. COLLECTION COSTS — If We refer collection of Your

Account to an attorney who is not Our salaried

employee, You are liable for any reasonable attorney’s

fees, plus the costs and expenses of any legal action, as

further disclosed in this Agreement, or to the extent

allowed by law.

23. ASSIGNMENT — We may assign any or all of Our

rights and obligations under this Agreement to a third

party.

24. CALIFORNIA RESIDENTS — A married applicant may

apply for a separate Account. Applicants: 1) may, after

credit approval, use the credit card Account up to its

credit limit; 2) may be liable for amounts extended under

the plan to any joint applicant. As required by law, You

are hereby notied that a negative credit report

reecting on Your credit record may be submitted to a

credit reporting agency if You fail to fulll the terms of

Your credit obligations.

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25. FLORIDA RESIDENTS — You (borrower) agree that,

should We obtain a judgment against You, a portion of

Your disposable earnings may be attached or garnished

(paid to Us by Your employer), as provided by Florida

and Federal law.

26. MARYLAND RESIDENTS — To the extent, if any, that

Maryland law applies to Your Account, We elect to oer

Your Card Account pursuant to Title 12, Subtitle 9 of the

Maryland Commercial Law Article.

27. MISSOURI RESIDENTS — Oral Agreements or

commitments to loan money, extend credit or to forbear

from enforcing repayment of a debt including promises

to extend or renew such debt are not enforceable. To

protect You (borrower(s)) and Us (creditor) from

misunderstanding or disappointment, any Agreements

We reach covering such matters are contained in this

writing, which is the complete and exclusive statement

of the Agreement between Us, except as We may later

agree in writing to modify it.

28. NEW YORK RESIDENTS — We may obtain a credit

report in connection with this Account, including for any

review, modication, renewal or collections associated

with this Account. Upon Your request, You will be

informed whether such report was requested and, if so,

the name and address of the consumer reporting agency

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furnishing the report. New York residents may contact

the New York State Department of Financial Services at

800.342.3736 or www.dfs.ny.gov to obtain a comparative

listing of credit card rates, fees and grace periods.

29. OHIO RESIDENTS — The Ohio laws against

discrimination require that all creditors make credit

equally available to all creditworthy customers and that

credit reporting agencies maintain separate credit

histories on each individual upon request. The Ohio Civil

Rights Commission administers compliance with this law.

30. SOUTH DAKOTA RESIDENTS — If You believe there

have been any improprieties in making this loan or in the

lender’s loan practices, You may contact the South

Dakota Division of Banking at 1601 N. Harrison Ave,

Suite 1, Pierre, SD 57501, or by phone at 605.773.3421.

31. WISCONSIN RESIDENTS — If You are married, please

contact Us immediately upon receipt of this Agreement

at the address or phone number listed on this

Agreement and provide Us with the name and address

of Your spouse. We are required to inform Your spouse

that We have opened an Account for You.

32. NOTICE TO UTAH BORROWERS — This written

Agreement is a nal expression of the Agreement

between You and the Credit Union. This written

Agreement may not be contradicted by evidence of any

oral Agreement. As required by law, You are hereby

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oral Agreement. As required by law, You are hereby

notied that a negative credit report reecting on Your

credit record may be submitted to a credit reporting

agency if You fail to fulll the terms of Your credit

obligations.

33. THE FOLLOWING IS REQUIRED BY VERMONT LAW —

NOTICE TO CO-SIGNER — YOUR SIGNATURE ON THIS

NOTE MEANS THAT YOU ARE EQUALLY LIABLE FOR

REPAYMENT OF THIS LOAN. IF THE BORROWER DOES

NOT PAY, THE LENDER HAS A LEGAL RIGHT TO

COLLECT FROM YOU.

34. ARBITRATION — The requirement to arbitrate and

waiver of class action will not apply if You are a Covered

Borrower under the Military Lending Act. Any

controversy or claim arising out of or relating to Your

Account(s) or loan(s), except mortgage loans or as

otherwise prohibited by law, shall be settled by binding

arbitration. You further agree that any such arbitration

shall take place in Colbert County, Alabama. Judgment

upon any award rendered by the arbitrator may be

entered by any court having jurisdiction thereof. The

arbitrator shall determine the prevailing party, and the

costs and expenses of the arbitration proceeding,

including the arbitrator’s fees, shall be borne by the non-

prevailing party, unless otherwise required by law. No

provision of this Agreement, nor the exercise of any right

under this Agreement, shall waive the arbitration

requirement or limit the right of the Credit Union to: (1)

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requirement or limit the right of the Credit Union to: (1)

obtain provisional or ancillary remedies, such as

injunctive relief, writ of attachment, or protective order

from a court having jurisdiction before, during, or after

the pendency of any arbitration; (2) exercise self-help

remedies, such as set-o, (3) exercise any other rights

under this Agreement upon the breach of any term or

condition herein; or, (4) to proceed with collection of the

Account through all other legal methods, including, but

not limited to, proceeding in court to obtain judgment.

Any and all arbitration under this contract will take place

on an individual basis; class arbitrations and class

actions are not permitted. YOU FURTHER AGREE THAT

YOU ARE WAIVING THE RIGHT TO TRIAL BY JURY AND TO

PARTICIPATE IN A CLASS ACTION.

Your Billing Rights: Keep this
Document for Future Use

This notice tells You about Your rights and Our

responsibilities under the Fair Credit Billing Act.

What To Do If You Find A Mistake On Your Statement

If You think there is an error on Your statement, write to

Us at the address listed on Your statement. In Your

letter, give Us the following information:

- Account information: Your name and Account number.

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- Dollar amount: The dollar amount of the suspected

error.

- Description of problem: If You think there is an error

on Your bill, describe what You believe is wrong and why

You believe it is a mistake.

You must contact Us:

- Within 60 days after the error appeared on Your

statement.

- At least three business days before an automated

payment is scheduled, if You want to stop payment on

the amount You think is wrong.

You must notify Us of any potential errors in writing or

electronically. You may call Us, but if You do We are not

required to investigate any potential errors and You may

have to pay the amount in question.

What Will Happen After We Receive Your Letter

When We receive Your letter, We must do two things:

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.

2. Within 90 days of receiving Your letter, We must either

correct the error or explain to You why We believe the

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bill is correct.

While We investigate whether or not there has been an

error:

- We cannot try to collect the amount in question, or

report You as delinquent on that amount.

- The charge in question may remain on Your statement,

and We may continue to charge You interest on that

amount.

- While You do not have to pay the amount in question,

You are responsible for the remainder of Your balance.

- We can apply any unpaid amount against Your credit

limit.

After We nish Our investigation, one of two things will

happen:

- If We made a mistake: You will not have to pay the

amount in question or 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 question, along with

applicable interest and fees. We will send You a

statement of the amount You owe and the date payment

is due. We may then report You as delinquent if You do

not pay the amount We think You owe.

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Consumer Credit Card Agreement And… | Listerhill Credit Union

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 do so, We cannot

report You as delinquent without also reporting that You

are questioning Your bill. We must tell You the name of

anyone to whom We reported You as delinquent, and

We must let those organizations know when the matter

has been settled between Us.

If We do not follow all of the rules above, You do not

have to pay the rst $50 of the amount You question

even if Your bill is correct.

Your Rights if You Are Dissatised With Your Credit

Card Purchases

If You are dissatised with the goods or services that You

have purchased with Your 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 purchase.

To use this right, all of the following must be true:

1. The purchase must have been made in Your home

state or within 100 miles of Your current mailing

address, and the purchase price must have been more

than $50. (Note: Neither of these are necessary if Your

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Consumer Credit Card Agreement And… | Listerhill Credit Union

purchase was based on an advertisement We mailed to

You, or if We own the company that sold You the goods

or services.)

2. You must have used Your credit card for the purchase.

Purchases made with cash advances from an ATM or

with a check that accesses Your credit card Account do

not qualify.

3. You must not yet have fully paid for the purchase.

If all of the criteria above are met and You are still

dissatised with the purchase, contact Us in writing or

electronically at the address listed on Your statement.

While We investigate, the same rules apply to the

disputed amount as discussed above. After We nish

Our investigation, We will tell You Our decision. At that

point, if We think You owe an amount and You do not

pay, We may report You as delinquent.

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