Platinum Rewards

Business Visa Credit Card Agreement

Effective 2/1/2011

In this Agreement, the singular includes the plural; “Agreement” means the terms, conditions and disclosures herein; “Card” means the VISA credit card and any 
duplicates, renewals or substitutions thereof; “you” and “your” means each person or entity whose name is embossed on the face of the Card, each person or entity 
who signs, uses or authorizes use of the Card, each person who signed the Application for the Card, and the Business on whose behalf the Account was opened; 
“Account” means your credit card line of credit account with Credit Union; and “Credit Union” means Community First Credit Union of Florida or anyone to whom Credit 
Union assigns or transfers this Agreement. By signing, using and/or authorizing the use of the Card, you agree to the following terms, conditions and disclosures:

1. Using Your Account. If you are approved for an Account, Credit Union will establish a line of 
credit for you and notify you of your credit limit. You agree that your credit limit is the maximum 
amount (purchases, cash advances, finance charges, plus “other charges”) that you will have 
outstanding on your Account at any time. If you are over your credit limit, you must pay the 
amount you are over before payments will begin to restore your credit limit. You may request 
an increase in your credit limit only by a method acceptable to Credit Union. Credit Union has 
the right to reduce your credit limit, refuse to make an advance and/or terminate your Account 
at any time for any reason not prohibited by law.

2.  Using  Your  Card.  You  may  use  your  Card  to  make  purchases  from  merchants  and 
others  who  accept  VISA  Cards.  However,  you  may  not  use  your  Card  to  initiate  any  type 
of electronic gambling transaction through the Internet. Your Card may not be used for any 
illegal transaction(s). If you wish to pay for goods or services over the Internet, you may be 
required to provide card member security information before you will be permitted to complete 
the transaction. In addition, you may obtain cash advances from Credit Union and from other 
financial  institutions  that  accept  VISA  Cards,  and  from  some  automated  teller  machines 
(ATMs). (Not all ATMs accept VISA Cards.) To obtain cash advances from an ATM, you must 
use the Personal Identification Number (PIN) that is issued to you for use with your Card. You 
agree that you will not use the Card for any consumer, personal, family, or household purposes. 
You will hold in strict confidence the Account number and any PIN to be used with the Card. 
You will notify Credit Union immediately of the loss or theft of the Card or PIN. 

3.  Responsibility.  You  agree  to  pay  all  charges  (purchases  and  cash  advances)  to  your 
Account made by you or anyone authorized by you to use your Account or Card, whether 
or not you notify Credit Union that they will be using your Account or Card. You also agree 
to pay all finance charges and other charges added to your Account under the terms of this 
Agreement or another agreement you made with Credit Union. Delivering the Card to another 
person  constitutes  authorization  of  that  person  to  use  the  Card.  If  you  want  to  cancel  the 
authorized or permitted use of your Account or Card by another person, you must let Credit 
Union know in writing, and if that person has a Card, you must return that Card cut in half with 
your written notice. Each of you is jointly and individually responsible for paying all amounts 
owed under this Agreement. 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.

4. Finance Charges. A finance charge is the cost you pay for credit. The following describes 
how the finance charge will be calculated on the Account.

You have a 25-day grace (no finance charge) period on your purchase balance and for 
new purchases if you paid the entire New Balance on your last statement by the end of the 
grace period. You also have a 25-day grace period for new purchases if you did not have 
a balance on your last statement. The grace period starts on the billing cycle closing date. 
If you do not pay the entire New Balance by the end of the grace period, a finance charge 
will be imposed on the unpaid balance from the first day of the next billing cycle and on 
new purchases from the date they are posted to your Account. There is no grace period 
for cash advances. A finance charge will be imposed on cash advances from the date the 
cash advance is posted to your Account. Balance transfers as permitted by Credit Union 
from time to time in Credit Union’s sole discretion will be treated as cash advances for the 
purpose of all finance charges.

Finance charges on your Account are calculated by applying the applicable Monthly Periodic 
Rate to the average daily balances for purchases and cash advances. Separate average daily 
balances are calculated for purchases and cash advances. To get each average daily balance, 
the  daily  balances  for  purchases  and  cash  advances  for  the  billing  cycle  are  added  and 
the totals are divided by the number of days in the cycle. To get the daily balance for cash 
advances, new cash advances are added to the day’s beginning balance and payments and 
credits are subtracted. To get the daily balance for purchases, new purchases are added to the 
day’s beginning balance and payments and credits are subtracted; however, new purchases 
are not added if you paid the entire New Balance on your last statement by the end of the grace 
period or if you did not have a balance on your last statement. Fees and unpaid finance charges 
are not included in the calculation of the average daily balance. Finance charges will continue to 
accrue on your Account until what you owe under this Agreement is paid in full.

The Daily Periodic Rate and Annual Percentage Rate on all Accounts are variable rates 
that may change monthly. Credit Union will determine the Monthly Periodic Rate and the 
corresponding  ANNUAL  PERCENTAGE  RATE  as  follows.  Credit  Union  starts  with  an 
independent  index  (the  “Index”),  which  is  The  Wall  Street  Journal  Prime  Rate.  When  a 
range of rates had been published, the highest rate will be used. Credit Union will use the 
most recent Index value available to Credit Union before the date of any monthly annual 
percentage  rate  adjustment.  Credit  Union  will  choose  the  date  of  any  monthly  annual 
percentage rate adjustment in Credit Union’s sole discretion; this date may change from 
month to month. To determine the Monthly Periodic Rate that will apply to your Account, 
Credit Union adds a Margin to the value of the Index. Then Credit Union divides this sum 
by  the  number  of  months  in  a  year  (12).  To  obtain  the  ANNUAL  PERCENTAGE  RATE, 
Credit  Union  will  multiply  the  Monthly  Periodic  Rate  by  the  number  of  months  in  a  year 
(12). This result is the ANNUAL PERCENTAGE RATE. The initial Monthly Periodic Rate, 
ANNUAL  PERCENTAGE  RATE,  Index  and  Margin  are  set  forth  in  the  Rate  Disclosure 
which is included with this Agreement and incorporated by reference. Your Margin may also 
be increased or decreased at any time in Credit Union’s sole discretion based upon certain 

creditworthiness factors which include, but are not limited to, payment  history and credit 
bureau data. Any change in the Margin will cause a corresponding change in the ANNUAL 
PERCENTAGE RATE and Daily Periodic Rate.

The  ANNUAL  PERCENTAGE  RATE  can  change  monthly  with  changes  in  The  Wall 
Street  Journal  Prime  Rate.  All  changes  to  the  ANNUAL  PERCENTAGE  RATE  will  be 
effective  on  the  first  day  of  the  first  billing  cycle  immediately  following  a  change  in  the 
ANNUAL PERCENTAGE RATE. There is no limit on the amount by which the ANNUAL 
PERCENTAGE RATE can change during any one-year period or the term of the Account. 
Your rate will never drop below 7.50%. The maximum ANNUAL PERCENTAGE RATE that 
can apply is 18% or the maximum permitted by law, whichever is less.

If  your  Account  is  in  default,  the  FINANCE  CHARGE  on  purchases,  balance  transfers, 
and cash advances is, in Credit Union’s sole discretion, calculated at the Monthly Periodic 
Rate of 1.50% which is an ANNUAL PERCENTAGE RATE of 18.00%. The default Monthly 
Periodic  Rate  and  ANNUAL  PERCENTAGE  RATE  shall  continue  to  apply  until  Credit 
Union, in its sole discretion, decides to reduce your Monthly Periodic Rate and ANNUAL 
PERCENTAGE RATE.

5.  Other  Charges.  The  following  other  charges  (fees)  will  be  added  to  your  Account,  as 
applicable:

a. Over-the-Credit-Limit Fee: You may be charged a fee of $25.00 on a statement date if 
your New Balance on that date, less any fees imposed during the cycle, is over your credit 
limit. You will be charged the fee each subsequent month until your New Balance on the 
statement date, less any fees imposed during the cycle is BELOW your credit limit. 
b. Late Payment Fee: If a payment of at least the amount of the minimum required payment 
is not received within five (5) days of the Due Date, a late charge in the amount of $25.00 
shall be imposed.
c. Return Check /Return Pre-Authorized Payments Fee: If a check, share draft, or ACH, 
EFT or any item used to make a payment on your Account is returned unpaid, you will be 
charged a fee of $25.00 for each item returned. 
d. Card Replacement Fee: In the event any additional or replacement cards are issued for 
any reason other than the issuance of a renewal card, a fee in the amount of $10.00 may 
be imposed.
e. Collection Costs: You agree to pay all costs incurred by Credit Union in collecting your 
indebtedness or in enforcing this Agreement, including attorneys’ fees and costs, as well 
as those costs, expenses and attorneys’ fees incurred in appellate, bankruptcy, and post-
judgment proceedings, except to the extent such costs, fees, or expenses are prohibited 
by law.
f.  Balance Consolidation/Convenience Check Stop Payment Fee: $10.00.
g. Rush Mail Fee: (Priority Handling) $35.00.
h. Document Copy Fee: You will be charged a $3.00 fee for each copy of a sales draft, 
statement, or balance transfer check that you request (except when the request is made in 
connection with a billing error made by Credit Union).
i.  Research  Fee:  You  will  be  charged  a  research  fee  of  $20.00  per  hour,  with  a  $10.00 
minimum charge, for all research on your Account you request (except when the request is 
made in connection with a billing error made by Credit Union).

6.  Payments.  Each  month  you  must  pay  at  least  the  minimum  payment  shown  on  your 
statement by the date specified on the statement or no later than twenty-five (25) days from the 
statement closing date, whichever is later. If your statement says the payment is “Now Due,” 
your payment is due no later than twenty-five (25) days from the statement closing date. You 
may pay more frequently, pay more than the minimum payment 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 each month your Account has a balance (other than a credit balance). The minimum 
payment is 2% of your Total New Balance, or $25.00, whichever is greater, plus the amount of 
any prior minimum payments that you have not made, and any amount you are over your credit 
limit. Credit Union also has the right to demand immediate payment of any amount by which 
you are over your credit limit. All payments are to be made by check, money order, or electronic 
payment drawn in US dollars and payable through a US financial institution. All payments are 
to be made at the location specified on your monthly billing statement. Payments received at 
locations other than the address specified or payments that do not conform to the requirements 
set  forth  on  or  with  the  periodic  statement  (e.g.  missing  payment  stub,  payment  envelope 
other than as provided with your statement, multiple checks or multiple coupons in the same 
envelope) may be subject to delay in crediting. Credit Union may accept late payments, partial 
payments, or checks and money orders marked “payment in full” and by doing so, Credit Union 
will not lose any rights under this Agreement if such irregular payments are accepted.

7. Payment Allocation. Subject to applicable law, your payments may be applied to what 
you owe Credit Union in any manner Credit Union chooses.

8. Security Interest. AS A CONDITION OF CREDIT UNION’S OPENING YOUR ACCOUNT 
AND  YOUR  USE  OF  THE  CARD,  YOU  HEREBY  GRANT  TO  CREDIT  UNION  A 
SECURITY INTEREST IN ALL SHARES, DEPOSITS AND OTHER FUNDS ON DEPOSIT 
WITH CREDIT UNION IN WHICH YOU HAVE AN OWNERSHIP INTEREST (other than an 
IRA account or an account where this security interest would cause the loss of tax-exempt 
or tax-deferred status). THE SECURITY INTEREST IS FOR ALL AMOUNTS OWED TO 
CREDIT UNION UNDER THE TERMS OF THIS AGREEMENT. IF YOU ARE IN DEFAULT 

UNDER ANY TERM OF THIS AGREEMENT, CREDIT UNION SHALL HAVE A RIGHT TO 
IMMEDIATELY SEIZE YOUR SHARES, DEPOSITS AND/OR OTHER FUNDS WITHOUT 
NOTICE  OR  DEMAND  TO  YOU  AND  TO  APPLY  SUCH  FUNDS  TO  THE  AMOUNTS 
OWED TO CREDIT UNION. Collateral securing other loans you have with Credit Union now 
or in the future will also secure this loan, except that a dwelling or your household goods 
(as defined by the Federal Trade Commission) will not be considered as security for this 
Account, notwithstanding anything to the contrary in any other agreement. 

9. Default. You will be in default if you fail to make any minimum payment or other required  
payment  by  the  date  that  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 application or credit 
update. You will also be in default if something happens that Credit Union believes may 
substantially reduce your ability to repay what you owe. When you are in default, Credit 
Union  has  the  right  to  demand  immediate  payment  of  your  full  Account  balance  without 
giving you notice. If immediate payment is demanded, you agree to continue paying finance 
charges as described in this Agreement until what you owe has been paid, and any shares, 
deposits and other funds on deposit with Credit Union that were given as security for your 
Account may be applied towards what you owe.

10.  Liability  for  Unauthorized  Use-Lost/Stolen  Card  Notification.  You  agree  to  notify  Credit 
Union  immediately,  orally  or  in  writing  at  P.O.  Box  31282,  Tampa,  FL  33631-3281  or 
telephone 800.449.7728 twenty four (24) hours a day, seven (7) days a week, of the loss, 
theft, or unauthorized use of your Credit Card. You may be liable for the unauthorized use of 
your Credit Card. You will not be liable for unauthorized use that occurs after you notify Credit 
Union of the loss, theft, or possible unauthorized use. You will have no liability for unauthorized 
purchases made with your credit card, unless you are grossly negligent in the handling of your 
card. In any case, your liability will not exceed $50.

Notwithstanding the above, if 10 or more Cards are issued for use by employees of a single 
Business,  there  is  no  limit  to  the  liability  of  the  Business  for  unauthorized  use  that  occurs 
before you notify Credit Union of the loss, theft, or possible unauthorized use as provided in 
this Agreement. The Business may only impose liability on its employees for unauthorized use 
of a Card as authorized by federal law and regulation. 

Credit Union will not be liable to any of you or any third party for any consequential or incidental  
damages resulting from the unauthorized use of the Card and/or PIN.

11.  Changing  or  Terminating  Your  Account.  Credit  Union  may  change  the  terms  of  this 
Agreement  from  time  to  time  in  Credit  Union’s  sole  discretion.  Credit  Union  may  reduce 
your  credit  limit,  refuse  to  make  an  advance  and/or  terminate  your  Account  at  any  time 
for  any  reason  not  prohibited  by  law.  Notice  of  any  change  will  be  given  in  accordance 
with applicable law. If permitted by law and specified in the notice to you, the change will 
apply  to  your  existing  Account  balance  as  well  as  to  future  transactions.  Either  you  or 
Credit  Union  may  terminate  this  Agreement  at  any  time,  but  termination  by  you  or  Credit 
Union will not affect your obligation to pay the Account balance plus any finance and other 
charges you owe under this Agreement. You are also responsible for all transactions made 
to your Account after termination, unless the transactions were unauthorized. Your notice of 
termination will be ineffective until Credit Union receives the notice and all Cards and has a 
reasonable opportunity to act upon it. The Card or Cards you receive remain the property 
of Credit Union and you must recover and surrender to Credit Union all Cards upon request 
or  upon  termination  of  this  Agreement  whether  by  you  or  Credit  Union.  Credit  Union  has 
the right to require you to pay your full Account balance at any time after your Account is 
terminated, whether it is terminated by you or Credit Union.

Information.  You  authorize  Credit  Union 

investigate  your  credit 
to 
12.  Credit 
reviewing  your  Account.  You  authorize  Credit 
standing  when  opening  or 
to  credit  bureaus 
regarding  your  Account 
information 
to  disclose 
Union 
and  creditors  who 
is  
If  your  Account 
inquire  about  your  credit  standing. 
eligible for emergency cash and/or emergency card replacement services, and you request such  
services, you agree that Credit Union may provide personal information about you and your 
Account that is necessary to provide you with the requested services(s). You are hereby 
notified that a negative credit report reflecting on your credit record may be submitted to a 
credit reporting agency if you fail to fulfill the terms of this Agreement. 

13. Returns and Adjustments. Merchants and others who honor your Card may give credit 
for returns or adjustments, and they will do so by sending Credit Union a credit slip which will 
be posted to your Account. If your credits and payments exceed what you owe Credit Union, 
the amount will be applied against future purchases and cash advances. If the credit balance 
amount is $1 or more, it will be refunded upon your written request or automatically after six 
(6) months.

14.  Additional  Benefits/Card  Enhancements.  Credit  Union  may  from  time  to  time  offer 
additional services to your Account, such as travel accident insurance, at no additional cost 
to you. You understand that Credit Union is not obligated to offer such services and may 
withdraw or change them at any time.

15.    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  in  wholesale  currency  markets 
for  the  applicable  central  processing  date,  which  rate  may  vary  from  the  rate  Visa  itself 
receives  or  the  government-mandated  rate  in  effect  for  the  applicable  central  processing 
date. The exchange rate used on the processing date may differ from the rate that would 
have been used on the purchase date or cardholder statement posting date. A fee of 1% 
(finance charge), calculated in U.S. dollars, will be imposed on all multiple currency foreign 
transactions, including purchases, cash advances and credits to your Account. A fee of .80% 
(finance charge), calculated in U.S. dollars, will be imposed on all single currency 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 Account 
outside of the United States, with the exception of U.S. military bases, U.S. territories, U.S. 
embassies or U.S. consulates. 

16. Merchant Disputes. Credit Union is not responsible for the refusal of any merchant or 
financial institution to honor your Card.

17. Joint and Individual Liability. Each of you (including, without limitation, the Business, the 
Authorized User(s) and the Guarantor(s)) will be individually and jointly responsible for paying  
all  amounts  owed  under  this  Agreement.  This  means  that  Credit  Union  can  require  any 
one of you individually to repay the entire amount owed under this Agreement. Each of you 
authorizes the Business and each Authorized User to make purchases or cash advances 
individually.

18. Guarantor(s). Each Guarantor individually and jointly guarantees payment of all amounts 
owed to Credit Union pursuant to this Agreement. As used herein, “Guarantor” means each 
person who (i) signed the Application for the Card, or (ii) is authorized to use the Card (an 
“Authorized  User”)  and  owns  20%  or  more  of  the  Business.  Each  Guarantor  who  signed 
the  Application  for  the  Card  individually  and  jointly  guarantees  payment  of  all  amounts 
owed to Credit Union pursuant to this Agreement. Credit Union can require any Guarantor 
to individually repay the entire amount owed under this Agreement. If any of you fail to pay 
any  amount  owed  to  Credit  Union  under  this  Agreement,  each  Guarantor  individually  and 
jointly promises to immediately pay any such amount to Credit Union upon Credit Union’s 
demand.  Credit  Union  can  demand  payment  from  you  even  if  Credit  Union  does  not  try 
to  collect  from  any  other  party  to  this  Agreement  and/or  without  enforcing  any  security 
interests Credit Union may have in any property securing the debt. This guaranty remains 
in effect even though you are not given notice if any of you fails to pay any amount due or 
is in default under this Agreement. Credit Union can apply payments made by any of you 
to your debts to Credit Union in any order the Credit Union elects. Credit Union can release 
or settle with any of you at any time without affecting the liability of others. This guaranty 
shall be continuing and irrevocable. Each Guarantor hereby waives demand of payment, 
presentment, protest and notice of protest on any and all obligations under this Agreement. 
Each Guarantor consents to alteration of any such obligations, including, without limitation, 
alteration of the rate of interest or time or method of payment. 

19. 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.

20. Severability. In the event that any paragraph of this Agreement or portion thereof is held by 
a court to be invalid or unenforceable for any reason, the other paragraphs and portions of the 
Agreement shall not be invalid or unenforceable and will continue in full force and effect.

21. No Waiver. Credit Union can delay enforcing any of its rights any number of times without 
losing them. To be effective, any waiver of any term or condition stated in this Agreement must be  
in writing and signed by an authorized officer of the Credit Union and shall not be considered 
as a waiver of any future or other obligation or right.

22. Statements and Notices. Statements and notices will be mailed to you at the most recent 
address  you  have  given  Credit  Union.  Notice  sent  to  any  one  of  you  will  be  considered  
notice  to  all.  Any  notice  from  you  will  be  ineffective  until  Credit  Union  receives  and  has 
a  reasonable  opportunity  to  act  upon  the  notice.  You  must  notify  Credit  Union  in  writing 
immediately if you change your address and/or name. 

Business  agrees  to  examine  periodic  statements  and  to  report  any  errors  or  problems 
to  Credit  Union  within  a  reasonable  time.  You  agree  that  the  time  to  examine  the 
statement and report to Credit Union will depend on the circumstances, but will not, in any 
circumstance, exceed a total of 60 days from when the statement containing the error or 
problem was first mailed or made available to Business. If Business does not report within 
60 days, Credit Union will be entitled to treat such information as correct and any and all of 
you will be precluded from asserting otherwise. 

23. Binding Nature and Assignment. Credit Union can assign or transfer your Account or 
any  portion  without  notice  to  you  or  your  consent.  You  may  not  assign  your  Account  or 
any  portion  thereof without Credit Union’s written consent, which may be withheld in Credit 
Union’s sole discretion. This Agreement shall be binding on each of you and your heirs, legal 
representatives, successors and permitted assigns.

24.  VISA  Rules.  You  agree  to  abide  by  all  applicable  rules  and  regulations  of  the  VISA 
USA, Inc. as well as all applicable laws. If there is any conflict between the provisions of 
this Agreement and the rules and regulations of VISA USA, Inc., the rules and regulations 
of VISA USA, Inc. shall control.

25.  Governing  Law.  This  Agreement  is  governed  by  the  Bylaws  of  Credit  Union,  federal 
laws  and  regulations,  and  the  laws  and  regulations  of  the  State  of  Florida,  as  amended 
from time to time.

26.  Jurisdiction,  Venue  and  Attorneys’  Fees.  Any  disputes  regarding  this  Agreement  shall 
be  within  the  jurisdiction  of  the  court  of  the  county  in  which  Credit  Union’s  principal 
place of doing business is located. If legal action is necessary to enforce this Agreement 
or  collect  any  amounts  owing  to  Credit  Union  or  fees  or  charges  assessed  under  this 
Agreement,  the  prevailing  party  has  the  right,  subject  to  applicable  law,  to  payment 
by  the  other  party  of  all  reasonable  attorney’s  fees  and  costs,  including  fees  on  any 
appeal  and  any  post-judgment  actions.  You  agree  that  such  legal  action  shall  be  filed 
and  heard  in  the  county  and  state  in  which  Credit  Union’s  principal  place  of  doing  
business is located, except as prohibited by applicable law.

27. Final Expression. This Agreement is the final expression of the terms and conditions of 
this VISA line of credit between you and Credit Union. This written Agreement may not be 
contradicted by evidence of any alleged oral agreement.

28. Copy Received. You acknowledge that you have received a copy of this Agreement. 
You understand that the use of the Card also constitutes acknowledgement of receipt and 
agreement to the terms of this Agreement.