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Consumer Credit
Card Agreement
And Disclosure

Important information about
your credit card.

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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

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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 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. You acknowledge and agree

that Your pledge does not apply during any periods when You are a

covered borrower under the Military Lending Act. For clarity, You

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will not be deemed a covered borrower, and Your pledge will apply,

if: (i) You established Your credit card Account when You were not a

covered borrower; or (ii) You cease to be a covered borrower.

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 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

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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 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

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 days u ess  ou co

  ou   equest 

t g 

t

 t at t

e. 

tte  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 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

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ccou t by  ou o  a yo e  ou aut o e to use  ou   ccou t as  e  as a

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 law. If You make a payment in excess of the required Minimum

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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

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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 eect for the applicable central processing date. The exchange

rate used on the processing date may dier from the rate that would have been

used on the purchase date or cardholder statement posting date.

A fee (nance charge) will be charged on all transactions completed in a foreign

currency. All fees are calculated based on the transaction amount after it is

converted to U.S. dollars. These fees are charged except where excluded. The

Foreign Transaction Fee is set forth on the 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 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

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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

continued recurring charges. Updates are not guaranteed before Your next

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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

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C ed t Ca d  pp cat o ,  ou ga e Us a secu ty 

te est 

 a   d dua  o  jo t

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 800-239-6033, Monday through

Friday 8:00 a.m. to 5:00 p.m. Eastern Time, 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.

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ay app y to  ou  e st g accou t ba a ce as  e  as to  utu e t a sact o s.

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

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a d su e de  to t e C ed t U o  a  Ca ds upo   equest o  upo  te

at o  o

this Agreement whether by You or the Credit Union.

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 subaccount 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 AND NOTICE OF NEGATIVE INFORMATION — 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. We may report information about Your Account to credit bureaus. Late

payments, missed payments, or other defaults on Your Account may be reected

on Your credit report.

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o   ou  c ed t  epo t.

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 any one 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

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t a sact o  t oug  t e 

te et, t at  s  ega  u de  app cab e  ede a , state, o

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 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 a lawyer who

is not Our salaried employee, You are liable for any reasonable attorney’s fees

We incur, plus the costs and expenses of any legal action, as further disclosed on

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.

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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.

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,

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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 furnishing the report. New York residents may contact the New

York State Banking Department 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,

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co tact t e Sout   a ota 

s o  o   a

g at  60  

.  a so  

e, Su te 

,

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 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.

Your Billing Rights: Keep this Document for Future Use

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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.

- 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.

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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

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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.

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.

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$50 o  t e a ou t  ou quest o  e e  

  ou  b   s co ect.

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

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.

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Consumer Credit Card Agreement And… | Listerhill Credit Union

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.

https://listerhill.com/borrowing/credit-cards/consumer-credit-card-agreement-and-disclosure

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