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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 re-
ceive 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 question-
ing 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 dissatisfied with the goods or services that you have pur-
chased 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: Card Services, Pentagon Federal 
Credit Union, Box 456, Alexandria, VA 22313-0456, or online at PenFed.org.
While  we  investigate,  the  same  rules  apply  to  the  disputed  amount  as  dis-
cussed 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.

Information about this card is accurate as of December 2011 but may have changed since then. To 
find out what may have changed, please go to PenFed.org or call 800-247-5626.

AMEX Form 1218  12/11  POD  FDR M-105372 

Penfed Premium travel rewards 
american exPress® card 

Cardholder Agreement  
and Disclosure Statement 

definitions. The “Card” means the Pentagon Federal Credit Union (Pen-
Fed) American Express credit card which we issue to you under this Agree-
ment, and includes any device or check used to obtain credit or cash from the 
account. An Authorized User is an individual receiving a Card, but who has 
no  responsibility  for  payment  of  the  Account.  The  words  “you”,  “your”  and 
“cardmember”  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. Unless otherwise stated, “Ac-
count” means your Card account with us.

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 will 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 cardmember, along with 
all applicable finance charges, fees and insurance, if any apply. By signing, us-
ing 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 autho-
rize. 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  autho-
rized credit limit. 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 cardmember. 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. 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 transac-
tions  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 bal-
ance 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 points or miles 
you have earned 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 Agree-
ment 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 un-
derstand 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 
PERMIT TED 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 purchas-
es, 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 cal-
culated 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) cas H advances :  (1)  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 av-
erage daily balance of cash advances, which is the sum of the cash advances 
(determined by including new cash advances and deducting any payments or 
credits  and  excluding  any  unpaid  finance  charge)  outstanding  each  day  dur-
ing the billing cycle, divided by the number of days in the billing cycle. A cash 
advance  appearing  on  the  periodic  statement  is  considered  a  part  of  the  out-
standing 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.

6. Payments. A payment delivered by regular U.S. mail must be sent to the 
address indicated on your periodic statement. 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, and be accompanied by 
the payment voucher from your statement. Write your account number on your 
check or money order. All such payments will be posted to your account as of the 
date we receive them provided we receive them before 5:00 PM at the address in-
dicated on your periodic 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. For the 
first  six  months  all  payments  received  from  PenFed  members  who  have  held 
membership for six months or less will be credited to your Account as of the date 
we receive them, but credit in the amount of the payment will not be available to 
you for 10 calendar days. Payments made electronically through our automated 
telephone service, member service representatives, or our website will be sub-
ject to any processing times disclosed with those payments. Your minimum pay-
ment 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 charge may be made to your account in the amount indicated 
for “returned payment” on Pentagon Federal’s current Schedule of Service Fees 
brochure. In addition, for the 6 months following any such dishonored payment, 
any payments you make will be credited to your account as of the date we receive 
them, but credit in the amount of the payment will not be available to you for 10 
calendar days. You understand and agree that payments 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. 
You understand and agree that payments will be applied in the following order: 
(1) late payment fee; (2) finance charge; (3) annual membership fee (if any); 
(4) credit life fee (if any); (5) previous balance cash advances; (6) previous bal-
ance purchases; (7) new cash advances; and (8) new purchases.

7. default. You will be in default if you fail to make any payment on time, 
if you exceed the credit limit established for the Account, if you become in-
solvent 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 
your ability to repay or perform your obligations with us unsafe or insecure, 
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 re-
maining 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 ter-
minate 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 

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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 will pay a late payment fee if the Minimum 
Payment Due is received 10 or more days past the due date. 

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 cal-
culate 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. Twice a year, on 
the Tuesday in the last full week before January 1 and the Tuesday in the last 
full week before July 1, we determine what the Prime Rate is, as published in 
the Wall Street Journal. We then add a margin of 6.74% to the Prime Rate to get 
the APR. 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 is 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 trans-
fer 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 spe-
cial  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 advanc-
es, and balance transfers will increase to the Penalty APR until 3 consecutive 
payments are made on time.

12. account closure. You or anyone jointly liable for the Account may 
terminate the Account at any time by notifying us orally or in writing. How-
ever, 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. 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.

13.  tHird  Party  disclosure.  We  may  disclose  information  to  third 
parties about your account in order to advise third parties, such as American 
Express  Travel  Related  Services  Company,  Inc.,  American  Express  Global 
Network  Services,  credit  reporting  agencies  or  merchants  of  the  existence 
or condition of your Account, to evaluate your current credit worthiness or as 
otherwise provided by law. 

14. 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 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.

15. 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  adjust-
ments will be made by credit to your PenFed account by a properly executed 
credit voucher issued by the merchant. 

16.  illegal  card  use.  You  agree  that  illegal  use  of  your  Card  by  card-
holders(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 use occur, to waive any right to sue PenFed 
for such illegal 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 ac-
tion or liability, directly or indirectly, resulting from such illegal use. 

17. 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 Cardhold-
ers, 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.

18. statutory lien. You agree that PenFed has the right pursuant to its 
statutory lien and further, 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 indebt-
edness 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 pro-
tection, 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.

19.  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 other-
wise 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. 

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.

21. 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.  

22.  foreign  transactions.  Purchases  and  cash  advances  made  in 
foreign currencies will be debited from your account in U.S. dollars. The ex-
change 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 
American Express and may include an international transaction fee. 

23. 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 this Plan 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 Plan 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. 
You understand that the Plan protects only you as the primary Member-Borrow-
er against protected events while you are enrolled in the Plan. Co-borrowers, 
co-signers, guarantors and additional card holders are not eligible for protec-
tion. 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 ac-
count monthly. Complete details of this optional Plan are included in The Debt 
Protection Plan Program Agreement which you will receive upon enrollment.

24. travel accident insurance. We agree to provide you with Travel 
Accident Insurance at no direct cost to you. You, your spouse and unmarried 
dependent  children  will  be  automatically  insured  against  accidental  bodily 
injuries or death while riding in any aircraft or land or water conveyance oper-
ated by a common carrier licensed to carry passengers for hire provided the 
full travel fare(s) has been charged to your Account. Death benefits will be 
paid to the estate of the insured; all other benefits will be paid to the insured. 
This insurance is subject to cancellation without prior notice. You understand 
and agree that the Certificate of Insurance controls all insurance terms and 
conditions to the exclusion of any statements made in this Agreement regard-
ing limitations, exclusions, and claims procedures.

20. 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 

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 we may assign you. 
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 1-800-732-8268 OR 1-541-225-6790 from overseas, or 
by writing to us at PenFed Card Services, Box 456, Alexandria, VA 22313-0456. 

27. liability for unautHorized use. 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 using the contact infor-
mation listed in “Lost/Stolen Card”, above) 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  e-mail  alerting  you  when  your 
statement  is  ready  to  be  viewed  online.  Failure  to  receive  a  monthly  state-
ment  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  transac-
tion 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 e-mail 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 mini-
mum 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 Agree-
ment (including minimum periodic payment and applicable late payment fees) 
will continue to apply.

30. otHer agreements. All the terms and conditions of any other agree-
ment  between  us  and  you  and/or  any  other  institution  that  is  part  of  a  net-
work 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 es-
tate 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.

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: Card Services, Pentagon 
Federal Credit Union, 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.