CREDIT CARD AGREEMENT 
In this Agreement the words you and your mean each and all of those who apply for the card or who signs the application. Card means a Visa® Credit Card 
and any duplicates and renewals we issue. Account means your Visa Credit Card Line of Credit account with us. We, us and ours means this Credit Union. 

 Visa 

1.  Responsibility. If we issue you a card, you agree to pay all debts and the 

FINANCE CHARGE arising from the use of the card and the card account. For 
example, you are responsible for charges made by yourself, your spouse and 
minor children. You are also responsible for charges made by anyone else to 
whom you give the card, and this responsibility continues until the card is 
recovered. You cannot disclaim responsibility by notifying us, but we will close 
the account for new transactions if you so request and return all cards. Your 
obligation to pay the account balance continues even though an agreement, 
divorce decree or other court judgement to which we are not a party may direct 
you or one of the other persons responsible to pay the account. If more than one 
person has applied for a card or signed the application, paragraph 15 below also 
applies to your account. You agree that you will not use or allow anyone else to 
use your card for any transaction that is illegal under applicable federal, state or 
local law.  

2. 

3. 

4. 

 Lost Card Notification. If you believe your credit card has been lost or stolen, 
you will immediately call the Credit Union at: (207) 284-2444 or after hours 
800-9914961.  

 Consumer Liability for Unauthorized Transactions. Your liability to the 
Credit Union will not exceed $50.00 for unauthorized use of your card that 
occurs prior to the time when you give notice of possible unauthorized use to the 
Credit Union at PeoplesChoice Credit Union, P.O. Box 876, Biddeford, ME 
04005, and (207) 284-2444 or 877-785-6328.  

 Credit Line. If we approve your application, we will establish a self-
replenishing Line of Credit for you and notify you of its amount when we issue 
the card. You agree not to let the account balance exceed this approved Credit 
Line. Each payment you make on the account will restore your Credit Line by 
the amount of the payment which is applied to principal. You may call us to 
request an increase in your Credit Line, which must be approved by our loan 
department. By giving you written notice our loan department may reduce your 
Credit Line from time to time, or with good cause, revoke your card and 
terminate this Agreement. Good cause includes your failure to comply with this 
Agreement, or our adverse reevaluation of your creditworthiness. You may also 
terminate this Agreement at any time, but termination by either of us does not 
affect your obligation to pay the account balance. The cards remain our property 
and you must recover and surrender to us all cards upon our request and upon 
termination of this Agreement.  

5.  Credit Information. You authorize us to investigate your credit standing when 
opening, renewing or reviewing your account, and you authorize us to disclose 
information regarding your account to credit bureaus and other creditors who 
inquire of us about your credit standing.  

6.  Details About Your Monthly Payment.  
(a)  Monthly Statement. We will mail you a statement every month showing your 
Previous Balance of purchases and cash advances, the current transactions on 
your account, the remaining credit available under your Credit Line, the New 
Balance of purchases and cash advances, the Total New Balance, the FINANCE 
CHARGE due to date, and the Minimum Payment Required. If applicable, 
monthly statements to one applicant shall constitute monthly statements to all 
applicants.  

(b)  Minimum Payment. Every month you must pay at least the minimum Payment 
within 25 days of your statement closing date. By separate agreement you may 
authorize us to charge the minimum payment automatically to your share or 
share draft account with us. You may, of course, pay more frequently, pay more 
than the minimum payment, or pay the Total New Balance in full, and you will 
reduce the FINANCE CHARGE by doing so. The Minimum Payment will be 
any portion of the Minimum Payments shown on prior statements which remain 
unpaid plus either (a) 2% of your Total New Balance or $20.00, whichever is 
greater, or (b) your Total New Balance if it is less than $20.00. In addition, at 
any time your Total New Balance exceeds your Credit Line, you must 
immediately pay the excess upon our demand.  

(c)  How Payments Are Applied: The Payment is applied in the following order: 
First, fees; second, finance charge; third, non-accruing balance (i.e. insurance 
premiums); fourth, old purchases; fifth, old cash advances; sixth, current cash 
advances (cycle to date); seventh, current purchases (cycle to date). 

7. Finance Charges.  
 (a)   When Finance Charge Begins. A finance charge will be imposed on cash 

advances from the date made or from the first day of the billing cycle in which 
the cash advance is posted to your account, whichever is later, and will 
continue to accrue until the date of payment. A finance charge will be imposed 
on purchases only if you elect not to pay the entire new balance of purchases 
shown on your monthly statement within 25 days from the closing date of that 
statement. If you elect not to pay the entire new balance of purchases shown on 
your monthly statement within that 25 day period, a finance charge will be 
imposed on the unpaid average daily balance of those purchases from the 
statement closing date and will continue to accrue until the closing date of the 
billing cycle preceding the date on which the entire new balance of purchases 
is paid in full or until the date of payment if more than 25 days from the 
closing date.  

(b)     Figuring the Finance Charge. The FINANCE CHARGE (interest) is 

calculated at the periodic rate of: .825% per month, which is an ANNUAL 
PERCENTAGE RATE of 9.9% or 1.15833 per month, which is an ANNUAL 
PERCENTAGE RATE of 13.9%, based on your credit worthiness.  
(i)      Cash Advances. The finance charge on cash advances for a billing cycle is 

computed by applying the monthly periodic rate to the average daily balance, 
which is determined by dividing the sum of the daily balances during the 
billing cycle by the number of days in the cycle. Each daily balance is 
determined by adding to the previous balance for cash advances (the outstand-
ing cash advance balance of your account at the beginning of the billing cycle) 
any new cash advances received and subtracting any payments as received or 
credits as posted to your account, but excluding any unpaid finance charges.  

(ii)    Purchases. We figure the Finance Charge on your account by applying the 

periodic rate to the “average daily balance” of your account (including current 
transactions). To get the “average daily balance,” we take the beginning 
balance of your account each day and subtract any payments or credits and any 
unpaid finance charges. This gives us the daily balance. Then, we add all the 
daily balances for the billing cycle together and divide the total by the number 
of days in the billing cycle. This gives us the “average daily balance.”  

8.  Default. You will be in default if you fail to make any Minimum Payment 

within 25 days after your monthly statement closing date. You will also be in 
default if your ability to repay is materially reduced by a change in your 
employment, an increase in your obligations, bankruptcy or insolvency 
proceedings involving you, your death or your failure to abide by this 
Agreement. We have the right to demand immediate payment of your full 
account balance if you default, subject to our giving you any notice required by 
law.  

9.  Using the Card. To make a purchase or cash advance, there are two alternative 

procedures to be followed. One is for you to present the card to a participating 
Visa plan merchant, to us or to another financial institution, and sign the sales 
or cash advance draft which is imprinted with your card. The other is to 
complete the transaction by using your Personal Identification Number (PIN) 
in conjunction with the card in an Automated Teller Machine or other type of 
electronic terminal that provides access to the Visa system. The monthly 
statement will identify the merchant, electronic terminal or financial institution 
at which transactions were made, but sales, cash advance, credit or other slips 
cannot be returned with the statement. You will retain the copy of such slips 
furnished at the time of the transaction in order to verify the monthly 
statement. The Credit Union may make a reasonable charge for photocopies of 
slips you request.  

10.  Returns and Adjustments. Merchants and others who honor the Card may 

give credit for returns or adjustments, and they will do so by sending us a 
credit slip which we will post to your account. If your credits and payments 
exceed what you owe us, we will hold and apply this credit balance against 
future purchases and cash advances, or if it is $1 or more, refund it on your 
written request or automatically after 6 months.  

11. 

 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 dollars will be at wholesale market rate or the government 
mandated rate, whichever is applicable, in effect one day prior to the 
processing date.  

Continued on Reverse Side 

 
  
 
 
 
 
 
 
 
12. Plan Merchant Disputes. We are not responsible for the refusal of any plan 
merchant or financial institution to honor your card. We are subject to claims and 
defenses  (other  than  tort claims) arising  out  of  goods  or  services  you  purchase 
with the card only if you have made a good faith attempt but have been unable to 
obtain satisfaction from the plan merchant, and (a) your purchase was made in 
response to an advertisement we sent or participated in sending to you; or (b) your 
purchase cost more than $50 and was made from a plan merchant in your state or 
within 100 miles of your home. Any other disputes you must resolve directly with 
the plan merchant.  

13. Security Interest. You pledge and grant as security for the card all shares and 
dividends and all deposits and interest, if any, in all accounts you have with us 
now and in the future.   

14. 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 different terms. We may amend this 
Agreement from time to time by sending you the advance written notice 
required by law. Your use of the card thereafter will indicate your agreement to 
the amendments. To the extent the law permits, and we indicate in our notice, 
amendments will apply to your existing account balance as well as to future 
transactions.  

15. Joint Liability. Each person who has signed the application or applied for a 
card will be individually and jointly responsible for paying all amounts owed 
under this agreement. This means that the Credit Union can require any one of 
you individually to repay the entire amount owed under this agreement. Each of 
you authorizes the other(s) to make purchases or cash advances individually. 
Any one of you may terminate the account and the termination will be effective 
as to all of you. If applicable, notice to one applicant as to any matter pertaining 
to the Credit Line (e.g., default, changes, periodic statements, etc.) shall 
constitute notice to all applicants. 

16. Other Charges.   

 • No Annual Fee!  
 • No Late Fees!  
 • No Over limit Fees! 
 • No Cash Advance Fees!  
 • No Balance Transfer Fees!  
 • No Foreign Transaction Fees! 

17. Copy Received. You acknowledge receipt of a copy of this Agreement.  

                                                                                          DATE 
Applicant 
                                                                                          DATE 
Co-Applicant 

Visa 9.9% Based on your credit worthiness.  

Visa 13.9% Based on your credit worthiness.  

PeoplesChoiceME.org 
P.O. Box 876 • Biddeford, Maine, 04005 
(207) 284-2444 or 877-785-6328 • FAX (207) 282-1735 

YOUR BILLING RIGHTS 
KEEP THIS NOTICE FOR FUTURE USE 

This  notice  contains  important  information  about  your  rights  and  our 
responsibilities under the Fair Credit Billing Act.  

NOTIFY US IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR BILL. 

If  you  think  your  bill  is  wrong,  or  if  you  need  more  information  about  a 
transaction on your bill, write us on a separate sheet at the address listed on your 
bill. Write to us as soon as possible. We must hear from you no later than 60 days 
after we sent you the first bill in which the error or problem appeared. You can 
telephone us, but doing so will not preserve your rights.  

In your letter, give us the following information:  
•  Your name and account number.  
• 
•  Describe the error and explain, if you can, why you believe there is 

The dollar amount of the suspected error.  

an error. If you need more information, describe the item you are not 
sure about. 

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  business  days 
before the automatic payment is scheduled to occur.  

YOUR RIGHTS AND OUR RESPONSIBILITIES AFTER WE 
RECEIVE YOUR WRITTEN NOTICE 

We must acknowledge your letter within 30 days, unless we have corrected the 
error by then. Within 90 days, we must either correct the error or explain why we 
believe the bill 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 finance charges, and we can apply an 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 bill that are not in question.  

If  we  find  that  we  made  a  mistake  on  your  bill,  you  will  not  have  to  pay  any 
finance charges related to any questioned amount. If we didn't make a mistake, 
you may have to pay finance 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 and the date that it is due.  

If  you  fail  to  pay  the  amount  that  we  think  you  owe,  we  may  report  you  as 
delinquent. However, if our explanation does not satisfy you and you write to us 
within  ten  days  telling  us  that  you  still  refuse  to  pay,  we  must  tell  anyone  we 
report you to that you have a question about your bill. And, 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 it finally is.  

If we don't follow these rules, we can't collect the first $50.00 of the questioned 
amount, even if your bill was correct. 

SPECIAL RULE FOR CREDIT CARD PURCHASES  

If you have a problem with the quality of property or services that 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 or, if not within your 

home state, within 100 miles of your current mailing address; and 

(b)   The purchase price must have been more than $50.00. 

These limitations do not apply if we own or operate the merchant, or if we mailed 
you the advertisement for the property or services. 

Rev 06/19