DEFINITIONS.  The �Card� means the Pentagon 
Federal Credit Union (PenFed) credit card which 
we issue to you under this Agreement, and 
includes any device or check used to obtain credit 
or cash from the Account. Unless otherwise stated, 
�Account� means your Card Account with us. An 
Authorized User is an individual receiving a Card, 
but who has no responsibility for payment of the 
Account. The words �you�, �your� and �cardholder� 
mean each person, jointly and individually who 
holds, signs, retains, uses, or permits others to 
use or sign a Card. The words �our�, �we� and �us� 
mean PenFed or any of its assignees.
1. AGREEMENT.  We agree to extend credit to you 
and advance amounts up to your credit limit, but 
transaction limits may apply. Your credit limit is 
not increased by any credit balance you may have 
on your Account. You agree to sign the back of 
the Card as soon as you receive it. You agree to 
pay us for credit extended for the use of the Card 
by you or any other cardholder, along with all 
applicable finance charges, fees and insurance, if 
any apply. By signing, using or permitting others 
to use the Card, you agree to the terms and 
conditions contained in this Agreement, on the 
Card, on any charge slip resulting from authorized 
use of the Card, on any authorized cash advance 
slip, and to accept responsibility for all actions 
taken with the Card.
2. CREDIT LIMIT.  You agree to use the Card 
within the credit limit we authorize. You also 
agree that we can change your credit limit at any 
time. We are not obligated to accept charges that 
would cause you to exceed your authorized credit 
limit but we may do so in our sole discretion. Any 
extension of credit to you, made or honored by 
us, shall be at such times and in such amounts 
and for such purposes as to conform to this 
Agreement, and only when there is no default.
3. CHANGE IN TERMS.  You agree that the terms of 
this Agreement are applicable to any cardholder. 
You also agree that we can change the terms of 
this Agreement at any time by adding, deleting, 
or modifying any provision of the Agreement. 
We will give you notice of any such changes, if 
required by law.
Termination of the Account by you or PenFed 
will not affect your obligation to pay the Account 
balance plus any finance charge and other 
charges you owe under this Agreement. You are 
responsible for all transactions made to your 
Account after termination, unless the transactions 
were unauthorized. Should you choose to cancel 
your Account, the terms in effect at the time 
that you cancel the Account will apply until the 
outstanding balance of the Account is paid in 
full, unless you are in default. Your Card will no 
longer be available for use for new transactions, 
including purchases, as the Account will be closed 
(if it is not already closed.) Any rewards you have 
earned, if applicable, will be forfeited unless they 
are redeemed before the Account is closed. If you 
do not notify us of your decision to terminate 
the Account by the date stated in any notice 
we provide, or if you notify us but then use the 
Account after the date stated in the notice, you will 
be deemed to accept all changes to the Account�s 
terms and conditions of this Agreement.
If you are in default because your payment has 
not been received within 60 days of the due date, 
you do not have the right to reject the changes 
we make to this Agreement or the Account�s 
terms and conditions.
4. FINANCIAL CONDITION CHANGE.  You agree 
to advise us of any change in your financial 
condition that may affect your creditworthiness 
and to provide us with a current loan application 
whenever we request one. You expressly 
authorize any person, partnership, association, 
firm, corporation or consumer reporting agency, upon our request, to furnish us with information 
concerning you relevant to the review and 
evaluation of this Account. You understand and 
agree that we may terminate your Account upon 
reevaluation of your creditworthiness.
5. FINANCE CHARGES  WILL BE IMPOSED 
IN THE FOLLOWING MANNER AND WILL 
BE IN AMOUNTS NOT IN EXCESS OF THOSE 
PERMITTED BY LAW:
A. PURCHASES:  (1) No finance charge will be 
imposed during the next billing cycle (defined as 
the time interval between regular monthly billing 
statement dates) if you pay the entire new balance 
shown on the current periodic statement and we 
receive your payment on or before the payment 
due date shown on the statement. (2) In all other 
cases, a finance charge will be imposed based 
on the average daily balance of all purchases 
and debit adjustments, hereafter referred to as 
purchases. The average daily balance is the sum of 
all outstanding purchases, which is determined by 
including new purchases and deducting payments 
or credits and excluding any unpaid finance 
charge for your Account on each day of the billing 
cycle divided by the number of days in the billing 
cycle. A purchase appearing on the periodic 
statement is considered a part of the outstanding 
balance from the date of posting. (3) The amount 
of the finance charge is calculated by multiplying 
the average daily balance for purchases by the 
monthly periodic rate. The monthly periodic rate 
is the yearly interest rate divided by 12.
B. CASH ADVANCES. (1) There is no grace period 
on cash advances. Finance charges accrue on all 
cash advance amounts from the date charged 
to your Account and continue so long as such 
amounts remain outstanding. (2) A finance charge 
will be imposed on the average daily balance 
of cash advances, which is the sum of the cash 
advances outstanding each day during the billing 
cycle, divided by the number of days in the billing 
cycle. The sum of cash advances is determined by 
including new cash advances and deducting any 
payments or credits and excluding any unpaid 
finance charge. A cash advance appearing on the 
periodic statement is considered a part of the 
outstanding balance from the date of posting. 
(3) The amount of finance charge is calculated 
by multiplying the average daily balance for 
cash advances by the monthly periodic rate. The 
monthly periodic rate is the yearly interest rate 
divided by 12.
C. BALANCE TRANSFERS.  (1) There is no grace 
period on balance transfers. Finance charges 
accrue on all regular or promotional balance 
transfer amounts from the date posted to your 
Account and continue so long as such amounts 
remain outstanding. (2) A finance charge will 
be imposed on the average daily balance of 
balance transfers, which is the sum of the balance 
transfers outstanding each day during the billing 
cycle, divided by the number of days in the billing 
cycle. The sum of balance transfers is determined 
by including new balance transfers and deducting 
any payments or credit and excluding any unpaid 
finance charge. A balance transfer appearing 
on the periodic statement is considered a part 
of the outstanding balance from the date of 
posting. (3) The amount of finance charge is 
calculated by multiplying the average daily 
balance for each balance transfer by its monthly 
periodic rate. The monthly periodic rate is the 
yearly interest rate divided by 12. If you transfer 
a balance from another financial institution to us, 
you will immediately incur finance charges at the 
regular or promotional APR available at the time 
of the balance transfer and on purchases at the 
purchase APR. For instance if you transfer $1,000 
at a promotional rate of 0% APR and then make 
a purchase of $200, you will immediately accrue finance charges at the purchase rate, forgoing the 
grace period. To avoid finance charges on new 
purchases after you transfer a balance, you must 
pay all balances on your Account including any 
balances that you transfer in full by the due date.
6. PAYMENTS . A payment delivered by physical 
mail must be sent to the address on your periodic 
statement and be received by 5:00 pm, Monday 
through Friday, excluding holidays, to receive 
same day credit. Your payment by mail must 
be a check or money order in U.S. dollars with 
your account number on the check or money 
order and drawn on a U.S. financial institution, 
accompanied by the payment voucher from your 
statement. Payments received at other locations 
or not conforming to these procedures may be 
delayed in posting, but not more than 5 business 
days from the date of receipt.
PenFed, in its sole discretion, may accept a 
check for payment on your Account even though 
payment was made before the date of the 
check or a check which has a date more than 
6 months old. We may delay the availability of 
credit until we confirm your payment has cleared.
Payments made electronically through our 
automated telephone service, member service 
representatives, or our website will be subject 
to any processing times disclosed with those 
payments.
Your minimum payment due is the greater of 
$15 or 2% of the new balance plus the past due 
amount, if any, and/or all amounts in excess of the 
authorized credit line/limit shown on the periodic 
statement. If the new balance does not exceed 
$15, only the new balance total is due and is shown 
as the minimum payment due. All past due or 
over limit amounts are due and must be fully paid 
immediately upon notification. You may, however, 
pay the total amount due, which is shown as 
the new balance, or you may pay any additional 
amount you wish over the minimum payment due.
If your payment  is not honored or we must return 
it to you because it could not be processed, a 
returned payment fee may be assessed to your 
Account1. 
Your account may have purchases, cash 
advances, and balance transfers with different 
APRs. You understand and agree that the 
minimum monthly payment will be applied first 
to the card balance with the lowest APR in the 
following order: finance charges, credit life fees 
(if any), cash advance balances, balance transfers 
and purchase balances. Payments in excess of the 
minimum monthly payment will be applied first 
to the card balance bearing the highest rate of 
interest, then to each successive balance bearing 
the next highest rate of interest until the payment 
is exhausted. If your card balance consists of 
multiple same-rate APRs the payment will be 
allocated in direct proportion to the outstanding 
balances regardless of the payment due date 
or any promotional APR expiration date. We 
may reject and return any payment that creates 
a credit balance on your Account. Any credit 
balance we allow may not be available until 
we confirm that your payment has cleared. We 
may reduce the amount of any credit balance 
by any new charges. You may write or call us to 
request a refund of any available credit balance. 
If a credit balance remains on your account for 
6 months and the amount is $1 or more, we will 
automatically refund it to you, otherwise it will be 
removed.
7. DEFAULT . You will be in default if you fail to 
make any payment by the Payment Due Date 
shown on your Account statement, if you become 
insolvent or file bankruptcy, if you become 
incompetent or die, if a judgment or garnishment 
should be issued against any of your property 
including any of your Accounts with us, if we in 
good faith consider our or your obligations or CARDHOLDER AGREEMENT your ability to repay or perform your obligations 
with us unsafe or insecure, if this Account or any 
other account at PenFed is maintained by you in a 
manner that PenFed, in its sole discretion, deems 
contrary to sound financial practice, or if you fail 
to live up to any of your other agreements with 
us, to include any PenFed policy or procedure. 
Subject to law, if you default on this Agreement, 
we can, without giving anyone notice, demand 
immediate payment of the remaining balance 
due including but not limited to any unpaid 
finance charges, late fees and any other charges 
due under this Agreement. You also agree our 
obligation for further credit extensions shall 
immediately end and we may terminate your 
Account without further notice to you. We 
can do this if you make any false or misleading 
statements on your requests for an advance, if 
you die, file for bankruptcy or if any other creditor 
tries to seize your property.
If your required minimum payment has not 
been received within 60 days of the due date, 
any balance, including a balance transfer with 
a promotional rate, will increase to the Penalty 
Annual Percentage Rate (Penalty APR). See 
Section 10 below for details of the Penalty APR. If 
collection is necessary, you agree to pay all costs 
of collection, including attorney�s fees and court 
costs, in an amount not more than 25 percent of 
the balance due.
8. LATE PAYMENT FEES . You may be charged a 
late payment fee if the Minimum Payment Due is 
received 10 or more days past the due date 1.
9. VARIABLE RATES. One or more APRs that 
apply to your Account may vary with changes 
to the Prime Rate, which means your rate can 
increase. We calculate the APR by adding a 
margin to the Prime Rate published in The Wall 
Street Journal. If The Wall Street Journal stops 
publishing the Prime Rate, we will select a similar 
reference rate and inform you on your billing 
statement or through a separate notice. The 
�Prime Rate� is the highest (U.S.) Prime Rate 
published in the Money Rates section of The 
Wall Street Journal. A margin is the percentage 
we add to the Prime Rate to calculate the APR. 
On the first Tuesday of the first full week of each 
month, we determine what the Prime Rate is as 
published in the Wall Street Journal. We then add 
a margin as set forth in the Summary of Terms 
issued with your Card to the Prime Rate to get 
the APR for the following month�. If the APR 
increases, you will have to pay a higher periodic 
finance charge and may have to make a higher 
minimum payment.
10. PENALTY ANNUAL PERCENTAGE RATE.  If 
your required minimum payment is not received 
within 60 days of the due date, your Account 
may be subject to change to a Penalty APR. The 
Penalty APR will remain in place until you make 
three consecutive payments on or before the 
date that each payment is due. In addition, your 
balance transfer rate for any outstanding balance 
transfer amounts will increase to the Penalty 
APR. After three consecutive months of on-time 
payments, the rates will be reduced to the rates 
that applied prior to the increase, unless the 
temporary promotional rate has expired or the 
index for the variable rate has changed�.
11. PROMOTIONAL ANNUAL PERCENTAGE 
RATE.  At our option, a special promotional rate 
may be offered from time to time. The specific 
terms will be provided at the time of the offer. 
Generally, the promotional APR will only apply 
to select transactions (i.e. purchases or balance 
transfers) during the promotional period. The 
APR rates for all other transactions, not outlined 
in the promotion as eligible for the promotional 
APR, will remain unchanged. If your required 
minimum payment is not received within 60 days 
of the due date, any promotional APR and the 
periodic rate for purchases, cash advances, and 
balance transfers will increase to the Penalty APR 
until 3 consecutive payments are made on time.
12. CASH AND CASH-LIKE TRANSACTIONS.  
The following transactions will be treated as 
cash advances when conducted with your Card, 
account number, checks or mobile device: any 
person to person transfers or transfers to any PenFed or non-PenFed account, bill pay, overdraft 
protection, ATM or over the counter advances, the 
purchase of travelers checks, foreign currency, 
money orders, bail bonds, cryptocurrency, wire 
transfers, lottery tickets, casino gaming chips, 
race track wagers or similar betting transactions; 
and any payment using a third party service.
13. ACCOUNT CLOSURE.  You or anyone jointly 
liable for the Account may terminate the Account 
at any time by notifying us orally or in writing. 
However, this will not relieve you or any of the 
other joint owners from liability for the repayment 
of any obligations arising from the use of the 
Account. In addition, recurring charges from a 
third party vendor/merchant will be charged to 
your Account, even though you have requested 
cancellation from PenFed. You must cancel the 
recurring charge with the third party vendor/
merchant. Upon receipt of your notice, we may 
close your Account or suspend your Account 
privileges at any time without prior notice. You 
must return all of the Cards to us upon request.
14. THIRD PARTY DISCLOSURE . We may disclose 
information to third parties, including but not 
limited to credit reporting agencies or merchants, 
about your Account in order to advise such 
third parties of the existence or condition of 
your Account, to evaluate your current credit 
worthiness, or as otherwise provided by law.
15. GRANT OF SECURITY INTEREST IN SHARES.  
To protect us if you are in default on any credit 
extended or cash advanced under this Account, 
you have granted a security interest in all of 
your shares, deposits, payments and dividends 
which may be received, whether held jointly or 
individually, up to the amount of your outstanding 
balance. The foregoing security interest includes 
the right to apply funds available to you in any 
jointly held account on your date of death. This 
does not include your individual retirement 
accounts (IRA). We may take all the shares 
needed by us to repay your credit extension 
or cash advance. If it is necessary to take all of 
your shares for the payment of this Account, you 
understand your membership in PenFed may end. 
Collateral securing other loans with the credit 
union may also secure this loan.
Additional notice for Visa Secured cardholders: In 
consideration of PenFed�s issuing you a Card, you 
pledge your PenFed Share account as security 
for this line of credit. To protect us if you are in 
default on any credit extended or cash advanced 
under this Account, you pledge all of your shares, 
deposits, payments and dividends which may 
be received, whether held jointly or individually, 
up to the amount of your outstanding balance. 
The foregoing pledge includes the right to 
apply funds available to you in any jointly held 
account on your date of death. This does not 
include your individual retirement accounts 
individual retirement account (IRA). We may take 
all the shares needed by us to repay your credit 
extension or cash advance. If it is necessary to 
take all of your shares for the payment of this 
Account, you understand your membership in 
PenFed may end. Collateral securing other loans 
with the credit union may also secure this loan.
16. CARD DISHONOR.  If a merchant refuses the 
Card, we will not have any liability or responsibility. 
No cash refund will be made to or accepted by 
you with respect to any adjustment for goods or 
services purchased. All adjustments will be made 
by credit to your PenFed Account by a properly 
executed credit voucher issued by the merchant.
17. ILLEGAL, EXCESSIVE, OR ABUSIVE CARD 
USE. You agree that illegal use of your Card, 
or behavior deemed by us to be excessive or 
abusive by cardholders(s), will be deemed an 
action of default and/or breach of contract and 
your Account and other related services may be 
terminated at our discretion. You further agree, 
should illegal, excessive, or abusive use occur, to 
waive any right to sue PenFed for such use or any 
activity directly or indirectly related to it. You also 
agree to indemnify and hold PenFed harmless 
from any suits or other legal action or liability, 
directly or indirectly, resulting from such use.
18. AUTHORIZED USER.  You may request us to issue a Card to an individual who has no 
financial responsibility under this Agreement. 
An Authorized User has the same access to your  
Account as you do, subject to any limitations 
we may impose. An Authorized User has no 
authority to add or delete cardholders, request 
a replacement Card or terminate or modify this 
Agreement. You may terminate an Authorized 
User�s authority to access your Account at any 
time. To do this, you must return the Card to 
PenFed. You agree that you are responsible 
for all charges and cash advances made by 
an Authorized User, including charges made 
before the Card is returned, recurring charges, 
or charges made without the use of the Card 
initiated by the Authorized User after termination 
of the Authorized User�s access.
19. LIEN. You hereby appoint PenFed as your 
agent under a special power of attorney as well as 
give your express consent to enable us to charge 
against any balance in any of your accounts, 
including accounts on which you are a joint owner, 
to include any otherwise statutorily protected 
funds that may not otherwise be available by 
legal process, to pay any indebtedness or other 
outstanding financial obligation owed by you or 
any person who is listed as a joint owner on your 
accounts, including a deceased joint owner. This 
does not include your IRA or any other account 
for which this provision is not permitted. We may 
take such action without further notice to you or 
any joint owner. In regard to those funds that have 
a statutory protection, you understand that you 
may withdraw the special power of attorney and 
consent for PenFed to apply such funds to pay 
any such indebtedness by notifying us in writing. If 
your agency appointment or consent is withdrawn, 
PenFed may, in its sole discretion, terminate any 
and all services that you have with the credit union.
20. ISSUANCE/USE OF CARD. Upon receipt of 
the Card(s), you and all other cardholders agree 
that you will sign the signature panel on the back 
of the Card(s). The Card remains the property 
of Pentagon Federal Credit Union and may be 
revoked without notice at any time. The Card must 
be surrendered to us upon demand or revocation. 
If we employ an agent to obtain the Card, your 
Account will be charged with any related fees. No 
expired, revoked or otherwise invalid Card shall 
be used to obtain or attempt to obtain credit. You 
will remain responsible to pay the amount you 
owe us according to the terms of this Agreement. 
Cancellation of the Account will also terminate any 
other products or services offered in conjunction 
with it. However, recurring charges from a third 
party vendor/merchant will be charged to your 
Account, even though you have requested 
cancellation. You must cancel the recurring charge 
with the third party merchant/vendor.
21. ISSUANCE/USE OF CHECKS.  If we issue you 
checks, these checks are treated as cash advances 
when they are used and presented for payment. 
We may refuse to issue or reissue and may also 
terminate, limit or modify the use of the checks 
without notice to you, and you agree to surrender 
the checks upon our demand or upon learning of 
our cancellation or withdrawal of the checks. Use 
of checks or other methods of access for kiting or 
similar activity is an action of default. The checks 
at all times remain the property of PenFed and 
we may repossess them without the use of court 
process. All of the terms and conditions of this 
Agreement apply to the use of the checks. Only 
check blanks and other methods authorized by 
PenFed now and in the future may be used to 
obtain funds from your Account. If so authorized 
by PenFed, your use of a personal identification 
number (PIN) for such purpose shall constitute 
your signature. Paid checks become our property 
and will not be returned to you. Copies may be 
provided, if requested, for a nominal fee for each 
item. Should we decline to pay any check, or if 
you instruct us not to pay a check, PenFed shall 
not be liable, except for gross negligence, for any 
action it takes regarding payment or nonpayment 
of a check. If we decline to pay a check, a charge 
may be made to your Account in the amount 
indicated on our current Schedule of Service Fees 
brochure, which is available at any branch office,  on request, or at PenFed.org. You will not date any 
check later than the date that you write it. If you 
do and the check is presented for payment before 
its date, PenFed, in its sole discretion may return 
it unpaid, or pay it. If we pay it, we will charge the 
Account. PenFed may, in its sole discretion, pay a 
check which has a date more than six months old.
22. ANNUAL FEE. You may be required to pay a 
nonrefundable annual fee for each Account you 
have with us for which a Card is issued. You will 
pay only one annual fee, even if more than one 
Card is issued for your Account. The fee will be 
charged annually to your Account. This charge 
will appear on your periodic statement for the 
billing cycle when it first becomes effective�.
23. 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 either a wholesale 
market rate or the government mandated rate in 
effect one day prior to the date processed by Visa 
and may include an international transaction fee.
24. DEBT PROTECTION PLAN.  Your purchase 
of the Debt Protection Plan (�Plan�) is optional. 
Whether or not you purchase this protection 
will not affect your application for credit or the 
terms of any existing credit agreement you have 
with PenFed. If you do purchase Debt Protection, 
you may cancel it at any time by notifying us in 
writing. You understand that you may rescind 
this plan within 30 days after the date your Debt 
Protection becomes effective. If you rescind, 
any premiums you have already paid will be 
credited to your Account. We can terminate this 
Agreement by giving you notice at least 30 days 
in advance of the termination. The premium, 
method of calculation and assessment are subject 
to change. If these terms change, we will provide 
written notice before the change goes into effect. 
Premiums will accrue on a daily basis and will be 
billed to your Account monthly. Complete details 
of this optional Debt Protection are included in 
The Debt Protection Plan Program Agreement 
which you will receive upon enrollment.
25. ASSIGNABILITY OF ACCOUNT.  You agree 
that PenFed may at any time sell, transfer or 
assign your Account.
26. LOST/STOLEN CARD.  You are responsible 
for the possession and use of the Card and must 
maintain the confidentiality of the PIN. You will 
notify us at once if you believe your Card has been 
lost or stolen, or if you have reason to believe 
the Card is being used without your permission. 
You may notify us by calling 800-247-5626 or 
541-225-6700, or by writing to us at: Pentagon 
Federal Credit Union, PO Box 456, Alexandria, VA 
22313-0456.
27. LIABILITY FOR UNAUTHORIZED USE.  If 
your statement has an error or a charge you did 
not authorize, you must tell us in writing within 
60 days after you get that statement. You must 
follow all instructions on that statement. If we 
find no error after investigation, you owe us the 
original amount plus applicable interest and fees. 
You are liable for all authorized use of any Card 
issued under the Agreement regardless of the 
credit limit or the party using it. You agree to 
notify us immediately by calling 800-247-5626 
or 541-225-6700, or writing to us at: Pentagon 
Federal Credit Union, PO Box 456, Alexandria, VA 
22313-0456 if you suspect unauthorized use of 
the Card, and to cooperate with us in the recovery 
of any amounts advanced based on unauthorized 
use. You will not be liable for any unauthorized 
use of the Card.
28. STATEMENTS.  We will bill you monthly, on a 
date selected by us, for amounts due under this 
Agreement. If you elect to receive your credit card 
statement electronically, you will receive an email 
alerting you when your statement is ready to be 
viewed online. There may be a $1 fee for each paper 
statement received�. Failure to receive a monthly 
statement or electronic statement notification 
does not relieve you from making any required 
minimum payment. Upon receipt of each periodic 
statement, you should examine it and immediately notify us in writing of any transaction you believe 
to be in error. If your Account is a joint account, we 
can send statements and notices to either of you. 
You agree to notify us promptly of any change in 
your name, address, or email address.
29. PAYMENT SKIP OPTION.  At our option, we 
may provide for a payment skip option, which 
means that you may be allowed to skip making 
the minimum periodic payment for specified 
billing cycles. If you accept this payment skip 
option, we will continue to apply the finance 
charge as disclosed above, but no late payment 
fees will apply to the skipped payment. For the 
billing cycle following a skipped payment, all the 
terms and conditions of this Agreement (including 
minimum periodic payment and applicable late 
payment fees) will continue to apply.
30. OTHER AGREEMENTS.  All the terms and 
conditions of any other agreement between us 
and you and/or any other institution that is part of 
a network of automated teller machines (ATMs) 
in which we participate, and any applicable rules 
and regulations, also apply to use of the Card. 
There may be minimum and/or maximum limits 
on the amount of a cash advance dispensed from 
electronic terminals, which accept the Card. All 
of the transactions made by electronic means 
are subject to verification by us, and any checks 
or other items deposited for collection may be 
deemed to be received and any other transaction 
may be deemed to occur on our next business 
day. You understand that transactions may be 
limited in some areas.
You agree that we do not waive our rights 
under this Agreement if we fail to assert them. 
The Agreement binds and benefits us and our 
successors and assigns and binds you, your estate 
and your personal representatives.
31. APPLICABLE LAW.  This Agreement and your 
Card and Additional Cards, and all questions about 
their legality, enforceability and interpretation, 
are governed by the laws of the Commonwealth 
of Virginia, USA.
32. MILITARY LENDING ACT. Federal law 
provides important protections to members of 
the Armed Forces and their dependents relating 
to extensions of consumer credit. In general, 
the cost of consumer credit to a member of the 
Armed Forces and his or her dependent may not 
exceed an annual percentage rate of 36 percent. 
This rate must include, as applicable to the credit 
transaction or account: The cost associated 
with credit insurance premium; fees for ancillary 
products sold in connection with the credit 
transaction; any application fee charged (other 
than certain applications fees for specified credit 
transactions or accounts); and any participation 
fee charged (other than certain participation fees 
for a credit card account). For more information, 
please contact PenFed at 800-247-5626.
YOUR BILLING RIGHTS  (Keep this notice 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:  Pentagon Federal 
Credit Union, PO Box 456, Alexandria, VA 22313-
0456 . You may also contact us on the Web via our 
Secure Online Message Center at: PenFed.org. In 
your letter, give us the following information:
� Account information: Your name and account 
number.
� 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 3 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 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 finish 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.
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 the rules above, you do not have to pay 
the first $50 of the amount you question even if 
your bill is correct.
YOUR RIGHTS IF YOU ARE DISSATISFIED WITH 
YOUR CREDIT CARD PURCHASES.  If you are 
dissatisfied 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 is necessary if your 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 dissatisfied with the purchase, contact us in 
writing or electronically at: Pentagon Federal 
Credit Union, PO Box 456, Alexandria, VA 
22313-0456, or online at PenFed.org. While we 
investigate, the same rules apply to the disputed 
amount as discussed above. After we finish 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. 
____________________________________________________________________________________________
� Refer to the Summary of Terms issued with your 
Card
Information about this Card is accurate as of 
December 2021 but may have changed since 
then. To find out what may have changed, please 
go to PenFed.org or call 800-247-5626.
                      Form 1203 (12/21) � 2021 PenFed