CONTACT INFORMATION:
M-125089
Greenville Branch
1501 Wade Hampton Blvd
Greenville, SC 29609
Fax: 864.370.9414
Greenville Branch
3375 Pelham Rd
Greenville, SC 29615
Fax: 864.371.6079
Mauldin Branch
142 Tanner Rd
Visa R Business
Greenville, SC 29607
Fax: 864.676.9067
Disclosure
Greer Branch
107 W Church St
Greer, SC 29650
Fax: 864.877.4642
www.greenvillefcu.com
Toll Free: 800.336.6309
To report a lost or stolen Visa credit card after business
hours, call toll free: 866.820.6796 You may also call the
credit union toll free number and respond as prompted:
800.336.6309
Note: The information in this document is accurate as of
the printing date and is subject to change. For changes
since printing, please contact us as noted above.
Greenville
Federal
Credit Union
Join and prosper.
Greenville
Federal
®
Credit Union
Join and prosper.
GREENVILLE FEDERAL CREDIT UNION
This information about the costs of the Visa card described in this
Visa® Business with Rewards
disclosure is accurate as of the printing date and subject to change. To
find out what may have changed, call us at 800.336.6309 or 864.235.6309
during business hours, visit us online at www.greenvillefcu.com or write to
Important Information About Your
us at 1501 Wade Hampton Blvd, Greenville, SC 29609.
Quarterly Variable Credit Card Account
THIS IS YOUR AGREEMENT AND DISCLOSURE STATEMENT
Interest Rates and Interest Charges
WITH GREENVILLE FEDERAL CREDIT UNION. PLEASE READ IT
CAREFULLY AND KEEP IT FOR YOUR RECORDS. IT SUPERSEDES
ALL PRIOR AGREEMENTS AND DISCLOSURE STATEMENTS
11.99% or 14.99%
RELATING TO YOUR ACCOUNT. YOU DO NOT HAVE TO SIGN THIS
ANNUAL
as of 06/30/2018 based upon credit
AGREEMENT. YOUR AGREEMENT TO ALL OF THESE PROVISIONS,
AS AMENDED FROM TIME TO TIME INCLUDING THE CARD ISSUED
PERCENTAGE RATE*
union's underwriting at the time of
BY US, WILL BE SHOWN BY YOUR APPLICATION FOR THE CARD,
(APR) for
approval.
YOUR ACCEPTANCE OF THE CARD, OR YOUR USE OF THE CARD,
Purchases, Balance
WHICHEVER OCCURS FIRST.
Transfers, and Cash
Your rate can vary quarterly based on
Advances
PARTIES. In this Agreement, the word "Company" refers to
changes in the Prime Rate as described
the business organization or sole proprietorship that has
below.
applied for the Account. The word "Cardholder" means
a person for whom Company has requested and to whom
Your due date is at least 25 days after
we have issued a Card. The words "you" and "your" mean
the close of each billing cycle. We will
Company, all Cardholders, all authorized signers, anyone to
whom any of you give a Card (even if they exceed or violate
not charge you any interest on purchases
your instructions), and anyone else authorized to use the
Paying Interest
if you pay your entire balance by the due
Account. The words "Credit Union," "we," "our" and "us"
date each month. We begin charging
refer to Credit Union.
interest on cash advances and balance
DEFINITIONS: In this Agreement, the word "Card" means one
transfers on the transaction date.
or more credit cards, or other devices by which credit may be
Fees
accessed other than a check, issued on the Account. "Card"
includes any tangible card with a number embossed on it; a
Annual Fee
None
card number; or a card number issued without a tangible card
(sometimes called a "virtual card"). The term "Outstanding
Balance Transfers and
Card
Balance" includes the outstanding balance of purchases,
Cash Advances
Replacement
finance charges, and other fees and charges associated
None
$ 5.00
with the Account. "Charges" refers to all amounts charged
Transaction Fees
to the Account, including, without limitation, purchases,
Research and Copy
any transaction in which you have evidenced an intention
$25/hour,
to make a purchase, miscellaneous charges and fees, and
$2.00 per page
any other monetary obligations associated with the Account.
"Applicable Law" shall include: "(i) Visa U.S.A. Inc. Bylaws,
$20
Visa U.S.A. Inc. Operating Regulations, Visa U.S.A. Inc.
Late Payment Fee:
Certificate of Incorporation, Visa International Bylaws, and
Penalty Fees
Returned Payment Fee: $37.50
Visa International Operating Regulations; and (ii) any and
all laws, treaties, rules, regulations, or regulatory guidance
of the government of the United States, any state thereof,
Commercial Use Only: No charges or cash advances may be incurred
or of any applicable foreign government or state thereof, as
for personal, family, or household purposes.
the same may be amended and in effect from time to time.
The Annual Percentage Rate can change on a quarterly basis. The rate
AGREEMENT EFFECTIVE. This Agreement becomes effective
is determined by using an independent Index-the Wall Street Journal
on the earlier of (a) 15 days after the Credit Union sends you
Prime Rate (when a range of rates has been published, the highest rate
the first Card; or (b) your first use of the Card or Account.
will be used)-rounded up to the next even quarter percent, and to the
Any use of the Card or Account constitutes your acceptance
Index is added a Margin of 6.99% or 9.99%. The Index used will be the
of the terms of this Agreement. If you do not wish to be
Prime Rate as of the 15th day of January, April, July and October; and your
bound by this Agreement, you must not use (or authorize
rate can change with each monthly statement cut-off in March, June,
anyone else to use) the Card or Account and must cancel
September, and December.
the Account and return all of the Cards within 15 days after
receiving them.
PLEDGE OF SHARES AND SECURITY INTEREST:
We are not under any circumstances obligated to
BY SIGNING AN APPLICATION, ACCEPTANCE OR AUTHORIZED
approve any transaction or extend credit if doing so
USE OF ANY CREDIT CARDS, YOU GRANT AND PLEDGE A
would exceed an applicable Cardholder Credit Limit; but
CONSENSUAL LIEN TO US ON ALL SHARES TO SECURE PAYMENT
if we do, you agree to repay all Charges that exceed the
OF YOUR OBLIGATIONS ON THIS ACCOUNT. IN ADDITION, YOU
Cardholder Credit Limit, plus other applicable Charges
ACKNOWLEDGE OUR STATUTORY LIEN RIGHTS UNDER THE
in accordance with the terms of this Agreement.
FEDERAL CREDIT UNION ACT; YOU AGREE THAT SUCH A LIEN IS
IMPRESSED AS OF THE DATE THAT THIS ACCOUNT IS OPENED;
If Company elects to enroll in the Company Bill option,
AND YOU AGREE THAT WE CAN APPLY THE SHARES PLEDGED
we may also establish individual spending limits for
AT THE TIME OF ANY DEFAULT ON THIS ACCOUNT WITHOUT
purchases on a per Card basis, referred to as "Spend
FURTHER NOTICE.
Limits." We may, at any time and at our sole option, with
"Shares" for the purpose of your pledge to secure your
or without notice to you, increase or decrease the Spend
obligations to the Credit Union means all deposits in any share
Limit on any Card.
savings, share draft, club, certificate, or other account(s) of
the borrower or any guarantor, whether jointly or individually
Spend Limits operate differently than Credit Limits.
held-regardless of contributions-that you have on deposit
Once the Spend Limit for the billing cycle on a Card
now or in the future.
has been reached, the Card becomes unusable for the
remainder of that cycle, even if you or Company makes
CREDIT LIMITS
a payment on the Account or Card during that cycle.
Company Credit Limit. We will establish and notify
The Spend Limit on the Card will not be refreshed, and
Company of a credit limit for the Account ("Company
the Card will not be reactivated, until the first day of the
Credit Limit"). We may, at any time and at our sole
next billing cycle. It is your responsibility to monitor the
option, with or without notice to you, increase or decrease
status of your Spend Limit.
the Company Credit Limit on the Account. Without
limiting the foregoing, we may reduce the amount of
THE CARDS
credit available under the Company Credit Limit by the
Signature Panel. For your protection, the back of the
amount of any request for authorization from a merchant
Card contains a signature panel which must be signed
or financial institution even if the amount has not yet
before the Card may be used.
posted to the Account.
Credit Union's Property. The Card is the property of the
Credit Union and must be returned to the Credit Union
You agree not to use, or allow anyone else to use, the Card
on request. The Credit Union may revoke any Card or
or Account in any way that would cause the balance of
all of the Cards at any time, without cause and without
purchases on the Card or Account, to exceed the Company
notice. If a merchant or a financial institution where the
Credit Limit. We are not under any circumstances
Card is attempted to be used asks for the surrender of
obligated to approve any transaction or extend credit if
the Card, you must surrender it immediately.
doing so would exceed any applicable limit; but if we
Expiration. The Card will not be valid after the expiration
do, Company agrees to repay all Charges that exceed the
date printed on the front of the Card, and it must not be
Company Credit Limit, plus other applicable Charges in
used after that date.
accordance with the terms of this Agreement. Fees for
Renewal and Replacement Cards. The Credit Union may
exceeding the Company Credit Limit appear in Schedule.
issue renewal or replacement Cards in its sole discretion.
Additional Cards. You may request additional Cards. You
Cardholder Credit Limit. We may establish individual credit
are responsible for all charges to the Account made by
limits for purchases on a per Card basis, referred to as
holders of additional Cards.
"Cardholder Credit Limits." In no event may a Cardholder
Credit Limit exceed the Company Credit Limit.
AVAILABLE TRANSACTIONS - Only for business purposes.
Subject to the other terms and conditions of this Agreement,
We may, at any time and at our sole option, with or without
the Cards and Account may be used only for business
notice to you, increase or decrease the Cardholder Credit
(non-consumer) purposes for the types of transactions
Limit on any Card. Without limiting the foregoing, we
shown below. You agree not to use the Cards or Account
may reduce the amount of credit available under the
for any transactions that are primarily for personal, family
Cardholder Credit Limit on a Card by the amount of any
or household purposes, although Company agrees to pay
request for authorization from a merchant or financial
for such Charges:
institution even if the amount has not yet posted to the
Purchases. To purchase goods and services wherever
Account.
Visa cards are honored.
Fraudulent or Questionable Transactions. We reserve the
You agree not to use, or allow anyone else to use, the
right to decline to authorize any requested transaction
Card or Account in any way that would cause the balance
which we reasonably believe is or may be unauthorized
of purchases on the Card to exceed the Cardholder Credit
or fraudulent in any respect.
Limit or Company Credit Limit.
LIABILITY / PROMISE TO PAY. Company promises to pay any
any purchases, interest, fees, the minimum payment
Charges resulting from use of a Card or the Account, plus
due and other amounts transacted with the individual
all interest, fees and other amounts due on the Account.
Card to which the Statement relates during the billing
This Agreement is not in derogation of any other obligation
period and the Outstanding Balance of the Card. We
the Company may have with the Credit Union.
will, as a convenience to Company and Cardholder, mail
the Statement to the individual Cardholder at the last
GUARANTY. Each Guarantor jointly, severally, and
address shown for that Cardholder in our records. It is
unconditionally guarantees payment of, and agrees to
Cardholder's responsibility to review the Statements
pay to our order upon demand, all present and future
carefully to ensure that Cardholder recognizes all
obligations at any time outstanding under your Account
Charges billed and that the amount is appropriate for
pursuant to this Agreement or any extension, renewal, or
Cardholder to pay. Any discrepancies should be brought
modification hereof. The obligations under this guaranty
to Company's and our attention immediately.
are independent, and each Guarantor agrees as follows:
Change of Cardholder Address. Cardholder agrees to notify
(I) we may obtain consumer credit reports on and
us immediately of any change of billing address. Until
provide information to others regarding such Guarantor;
we are notified that the Cardholder's billing address has
(II) such Guarantor will pay all our expenses, including
changed, we will continue to send Statements and other
our attorneys' fees at trial or on appeal, that we incur in
notices to the last address we maintained for Cardholder.
enforcing all obligations under this Agreement including
this guaranty; and (III) such Guarantor hereby grants
COMPANY-BILL OPTION. This Section applies if Company has
us a security interest in all deposit accounts that such
elected to have statements sent to Company.
Guarantor may maintain with us or any of our affiliates
Statements Sent to Company. From time to time, we will
(excluding IRA, Keogh, SEP and certain trust accounts).
prepare a periodic statement ("Statement") showing the
This is a guaranty of payment and performance and not of
total amount of Charges, including purchases, interest,
collection. To the extent permitted by law, each Guarantor
fees and other amounts posted to the Account during
waives: (a) any right to require us to proceed against any
the billing period and the Outstanding Balance of the
other person associated with the Account; (b) any right to
Account. We will mail the Statement to Company at
require us to proceed against or exhaust any security held
the last address shown for Company in our records. It
by us at any time or to pursue any other remedy before
is Company's responsibility to review the Statements
proceeding against such Guarantor; (c) all notices of any
carefully to ensure that Company recognizes all Charges
kind or the lack of any notice, including notice of any
billed and that the amount is appropriate for Company
new or additional indebtedness, any modification of any
to pay. Any discrepancies should be brought to our
obligation, or obligation or notice of any action or nonaction
attention immediately.
on the part of you, us, any Guarantor or any other person;
Change of Company Address. Company agrees to notify us
(d) any defense based upon an election of remedies by
within 10 days of any changes of address. Until we are
us; (e) any right or claim of right to cause a marshaling of
notified that the Company's billing address has changed,
your assets or any Guarantor; (f) any invalidity, irregularity
we will continue to send Statements and other notices to
or unenforceability, in whole or in part, of this Agreement;
the last address we maintained for Company.
(g) any right or claim of right to agree to any modification
Payments. Company promises to pay the Credit Union
of any obligation and any modifications of any of your
according to the terms of this Agreement the entire
obligations relating to this Account by operation of law or
amount owing under this Agreement.
by action of any court, whether pursuant to the Bankruptcy
Act, or any other Federal or State debtor relief law; (h) any
PAYMENTS GENERALLY
action, occurrence, event or matter consented to by such
Payment Rules. You may not make any payment directly
Guarantor; and (i) the benefits of any statutory or other
or indirectly by an advance on the Account. The Credit
provision limiting the liability of a surety to the extent of
Union will have sole discretion in how we apply the
any conflict between the foregoing waivers and any waivers
payments received on the Account, except that we will
contained in this Agreement, provided that the waiver in
apply payments received first to annual fees, next to
each instance most expansive and beneficial to us will be
other fees, next to interest (finance charges), and next to
deemed to control.
purchases.
Minimum Payment. You promise to make at least the
INDIVIDUAL-BILL OPTION. This Section applies if Company
minimum payment due on the Account each month
has elected to have statements sent to individual
as shown on your monthly Statement. The minimum
Cardholders and we are able to provide billing in such
payment each month will be equal to 2% of the
manner.
Outstanding Balance, plus any over limit amounts,
Statements Sent to Individual Cardholders. From
fees, past due amounts and accrued but unpaid finance
time to time, we will prepare a periodic statement
charges (interest). In no event will the minimum
("Statement") showing the total amount Cardholder
payment be less than $25. If the Outstanding Balance is
owes as of the end of the billing period, including
less than $25, the minimum payment will be the entire
Outstanding Balance.
Making Payments. The Credit Union must receive the
The Credit Union has evidence or reasonably believes
minimum payment due at the address designated on your
that an unauthorized use of the Card or Account has
monthly Statement on or before the due date shown on
been made or attempted;
your Statement. Payments received after any reasonable
There is any material change in the equity ownership or
cutoff hour we set will be treated as received on the
managerial control of Company.
next business day. Receipt of your minimum payment at
any address other than that designated on your monthly
INTEREST (FINANCE CHARGE). The following interest
statement may create a delay in posting to the Account
(finance) charges will apply, whether before or after
and result in a late fee and additional finance charge.
default, judgment, or the closing of the Account.
Payments. All payments must be made in U.S. Dollars
drawn on funds on deposit in the United States. Please
Monthly Payments: Credit Union shall provide Company
do not mail cash payments.
with a statement showing all charges and appropriate
No Waiver or Impairment of Credit Union's Rights. The Credit
billing data regarding all fees relating to employee
Union may accept late payments, partial payments or any
Business Cards. Company will pay to Credit Union, within
payment marked with any kind of restrictive endorsement
25 days from billing cycle closing date indicated on each
(such as "paid in full" or "in settlement") without giving
statement, an amount at least equal to 2% of the new
effect to the restrictive endorsement and without losing,
balance shown (rounded up to the next whole dollar) or
waiving, or impairing any of the Credit Union's rights
$25, whichever is greater, on such statement; plus any
under this Agreement or under applicable law. Except
minimum payment billed in prior statements shown as
for billing error notices, communications regarding any
past due or over the credit line which will be included in
disputes about the Account must be mailed to: Attn:
the "minimum payment due" amount on the statement.
Card Disputes, 1501 Wade Hampton Blvd, Greenville,
SC 29609. Any communications sent elsewhere, or our
Finance Charges:
acceptance of payments marked "payment in full" or the
Purchases: To avoid incurring an additional Finance
like, will be of no legal effect.
Charge on the balance of credit purchases reflected
on your statement and on any new credit purchases
DEFAULT. If you are in default, the Credit Union may
appearing on your next statement, you must pay the
declare, without prior notice, the Outstanding Balance of
new balance billed on or before the payment due date.
the Account immediately due and payable, may close or
The Finance Charges for a billing cycle are computed
suspend the Account or any of the Cards, and recover the
by applying the daily periodic rate to the average daily
Cards. You will be in default if any of the following occur
balance multiplied by the number of days in the billing
as to the Account, any Card or Cardholder, or any principal
cycle OR the monthly periodic rate to the average
(owner, director, officer or other manager) of Company or
daily balance of credit purchases, which is determined
any Cardholder which is an organization:
by dividing the sum of the daily balances during the
We do not receive any minimum payment due at the
billing cycle by the number of days in the cycle. Each
proper address on or before the payment due date;
daily balance is determined by adding to the previous
You exceed any applicable Company Credit Limit or
balance of credit purchases any new credit purchases
Cardholder Credit Limit;
posted to your account and subtracting any payments
You fail to honor any other obligation under this
as received and credits as posted to your account, but
Agreement;
excluding any unpaid Finance Charges.
You or any guarantor dies or becomes legally
Cash Advances: The Finance Charge on cash advances
incapacitated;
begins to accrue on the date you obtain the cash
You or any guarantor files for bankruptcy, or becomes
advance or the first day of the billing cycle in which it is
insolvent or generally unable to pay your debts, or makes
posted to your account, whichever is later. The Finance
an assignment for the benefit of creditors;
Charges for a billing cycle are computed by applying
You or any guarantor furnishes false, incomplete or
the daily periodic rate to the average daily balance
misleading information to the Credit Union at any time,
multiplied by the number of days in the billing cycle OR
including on the Card application, or any financial
the monthly periodic rate to the average daily balance
statement or other document or information submitted
during the billing cycle, which is determined by dividing
to the Credit Union;
the sum of the daily balances during the billing cycle
You or any guarantor are in default under any other
by the number of days in the cycle. Each daily balance
obligations to the Credit Union;
is determined by adding to the previous balance (the
Another creditor attempts through legal process to take
outstanding balance of your account at the beginning of
any of your or any guarantor's money or property;
the billing cycle) and any new cash advances received
The Credit Union reasonably believes that you or any
and subtracting any payments as received or credit S
guarantor are unable or unwilling to honor all of your
as posted to your account, but excluding any unpaid
obligations under this Agreement or other obligations
Finance Charges.
either of you owe to us;
Balance Subject to Finance Charge - Average Daily Balance.
border transactions and foreign-currency transactions.
We will calculate interest by applying a periodic rate
Single Currency Transactions. On transactions that occur in
(described below) to the Average Daily Balance of the
a country other than the merchant country, in the same
Account. To get the Average Daily Balance, we take the
currency as the merchant's (i.e., no currency conversion
beginning balance of your Account each day, add any new
takes place), we will not assess a Single Currency Transaction
purchases, and subtract any payments, credits, any non-
Fee. Multi-Currency Transactions. On transactions that occur
accruing fees, and unpaid interest. This gives us the daily
in a country other than the merchant country, in a currency
balance. Then we add up all the daily balances for the
other than the merchant's (i.e., a currency conversion is
billing cycle and divide the total by the number of days in
performed), we will not assess a Multi-Currency Transaction
the billing cycle. This gives us the Average Daily Balance
Fee.
for the billing cycle.
DISCLOSURES OF INFORMATION. You consent to the release
Minimum Finance Charge. There is no minimum Finance
of personal data about yourself by the Credit Union to
Charge.
Visa, its members and their respective contractors for
the purpose of providing emergency Card replacement
Effect of Rate Changes. If the Annual Percentage Rate
services, and otherwise as allowed by law. Credit Union
changes, the amount of the interest Finance Charges may
may also release business or personal data about you to
also change. Any new periodic rates will apply to existing
third parties as necessary or appropriate (i) in the ordinary
Account balances. The periodic rate may also change
course of servicing the Account and Cards, (ii) for purposes
as provided in the section of this Agreement entitled
of marketing to you, (iii) as required by law or legal process,
"Changing This Agreement."
and (iv) otherwise as permitted by law.
FEES AND CHARGES. Reference the separate disclosure
RESTRICTIONS ON USE OF ACCOUNT
provided to you at application for the following fee
Named User. Only the Cardholder named on the Card
amounts. Said amounts may be increased from time to
is permitted to use it for charges, identification, or any
time by the credit union upon written notice. Other fees
other reason.
may apply.
Compliance with Applicable Laws and Prohibition of Illegal
Late Payment Fee. If we do not receive the minimum
Transactions: You warrant and agree that you will at all
payment due on or before the payment due date as it
times comply with all Applicable Laws; and that your
appears on your monthly statement, we will charge the
card and services are at all times subject to Applicable
Account a late fee for the billing period, in addition to
Laws. Further, you agree and warrant that your Credit
interest which accrues on the unpaid balance.
Card, other access device or any related account will not
Annual Fee. Company shall pay an annual fee for each
be used to make or facilitate any illegal transaction(s)
card account issued pursuant to this Agreement.
as determined by applicable law; and that any such
Cash Advance Fee. The fee charged you for obtaining a
use, including any such authorized use, will constitute
cash loan.
an event of default under this Agreement. Certain
Returned Payment or Insufficient Funds Fee. Credit Union
federal and/or state laws or Card Service Providers'
will charge your account a fee if your payment by any
Rules may limit or prohibit certain transactions such as
method, including check, electronic transfer, home
(but not limited to) those coded as possible gambling
banking transaction or otherwise, is not honored,
transactions. The Credit Union may decline to accept,
collected by us, or if we must return it to you because
process or pay any transaction that we believe to be
it cannot be processed for any reason. This fee may be
illegal or unenforceable (regarding your obligation to
added to your account balance, or collected from you
pay us or otherwise) under applicable law; or which is
on demand.
otherwise limited or prohibited, including but not limited
Charge for Copies, Research and Card Replacement. If
to any transaction involving or relating to any gambling
you ask for a copy of any document, such as a sales
activity. Such prohibition or limitations may affect
slip, Convenience Check, or billing statement, an hourly
some otherwise proper or allowable transactions such
charge may be imposed for the time it takes to research
as charges incurred at a hotel-casino. You understand
and locate the document. In addition, a per page
and agree such limitations/prohibitions are not within
copying fee will be imposed. However, no charge will
the Credit Union's control and that the Credit Union
be imposed in connection with any actual or asserted
will not have any liability, responsibility or culpability
billing error.
whatsoever for any such use by you or any authorized
Replacement Card Fee. We will charge a fee to replace a
user(s); or for declining to accept, process, or pay any
lost card.
such transaction. You further agree to indemnify and
hold the Credit Union harmless from any suits, liability,
CROSS BORDER AND FOREIGN CURRENCY TRANSACTIONS.
damages or adverse action of any kind that results
The Card may be used to purchase goods and services
directly or indirectly from any such use of your account
internationally. Certain fees will be charged on cross-
and/or access devices. Notwithstanding the foregoing,
you will remain fully obligated to pay any indebtedness
GOVERNING LAW/CONFLICTING TERMS. The Account will
incurred in contravention of the foregoing limitations. We
be governed by U.S. federal law and, to the extent not
may block any transaction that we believe may violate
preempted, the laws of the state of South Carolina, even if
this provision.
you use the Account outside of South Carolina or the U.S.
The terms of this Agreement supersede any conflicting
LIABILITY FOR UNAUTHORIZED USE. Except as expressly
terms set forth on a sales slip or credit card draft. If any
limited by law and within this Agreement, you are liable
part of this Agreement is found to be unenforceable, the
for all Charges on the Card, authorized and unauthorized.
remainder of the Agreement will remain in full force and
If the Card or Account number is lost or stolen, or if you
effect.
think that someone used or may use them without your
permission, you must notify the Credit Union immediately
SECURITY INTEREST. This Account is not secured by any
by calling 800.336.6309.
real property whatsoever, even if another document you
Definition. "Unauthorized use" means any use by a
have with us purports to grant such a security interest.
person who is not an authorized signer on the Account,
If Company has given us a security interest in money or
was not expressly or impliedly authorized by such a
other personal property in a separate agreement, that
person, and from which such a person derives no benefit.
personal property may also secure your obligations under
"Unauthorized use" excludes any transaction conducted
this Account.
by: (i) a Company co-owner; (ii) the Cardholder or any
person authorized by the Cardholder, including a person
CHANGING THIS AGREEMENT. We may amend this Agreement
to whom the Cardholder gave the Card or Card number,
from time to time, including the addition of entirely new
even if the person exceeds or violates your instructions;
provisions, by sending such notice as may be required by
or (iii) any other person with an interest in or authority
law. Notice may be sent to Company at the last address
to transact business on the Account. You agree to tell us
shown in our records for the Account. Unless we state
what you know about the unauthorized use and assist us
otherwise, balances existing on the effective date of any
in any investigation or actions we take in connection with
amendment, as well as future activity, will be subject
unauthorized usage.
to the terms of the amended Agreement to the extent
Liability. Unless otherwise required by law and subject to
permitted by law.
Visa International Operating Regulations, Company has
unlimited liability for unauthorized use of the Account or
SALE OF ACCOUNT. We may sell, securitize, encumber or
any Card.
otherwise transfer the Account, Cards and any interest in
them to any party without your knowledge or consent, from
FINANCIAL AND CREDIT INFORMATION. Unless otherwise
time to time.
specifically agreed in writing by Credit Union, Company shall
furnish Credit Union with an annual financial statement
OTHER FEATURES. We may, from time to time, offer you
at the end of each year; and/or shall furnish such other
other features on the Cards. These may be effectuated by
information as the Credit Union may reasonably request
a notice of change in terms above or by a separate contract
from time to time within 15 days from the date of any such
or amendment to this Agreement, at our option.
request. You authorize the Credit Union to make whatever
credit inquiries or investigations about you that the Credit
ACCESS TO ACCOUNT INFORMATION. You agree that all
Union deems appropriate. This includes obtaining your
borrowers and authorized users will have access to
consumer report from time to time. The Credit Union may
information regarding transactions on your account,
disclose to others, such as credit bureaus, merchants and
including but not limited to purchases and cash advances,
other financial institutions, information about the Account
account balances, account history, payments and other
and your performance under this Agreement, subject to
information relating to or arising with regard to this
applicable law.
account or any transaction.
CLOSING THE ACCOUNT. By you: You may close the Account
TRAVEL/MERCHANDISE REWARDS PROGRAM. Participation
at any time by notifying the Credit Union in writing at the
in the travel/merchandise purchase point program
address shown on your monthly statement. You must return
is automatic with this Visa credit card program. You
all Cards with your notice. However, you remain responsible
understand and agree we are not obligated to continue or
to pay the amounts you owe us according to the terms of
to offer such a program. We reserve the right to change
this Agreement. By the Credit Union: The Credit Union may
the program and/or any third party program servicer with
close or suspend a Card or the Account at any time without
or without conversion of points, privileges, point accruals,
cause and without prior notice, subject to applicable law, or
redemption periods, etc. If benefits are withdrawn prior to
reissue a different Card at any time. Upon closure (whether
any accrued use by you, we have no obligation to provide
by you or the Credit Union), your right to use the Card
any benefit, enhancement, consideration or compensation
and to make Charges to the Account will be automatically
to you or anyone. Program rules are provided by the
revoked.
program servicer and you agree to abide by those terms of
use as amended from time to time.
ILLEGAL TRANSACTIONS. You warrant and agree that your
permitted by law and any right you may otherwise have
account and any card(s) issued, and any other access
to require the Credit Union to proceed against any person
device or any related account will not be used to make
before suing you to collect. You understand that the Credit
or facilitate any illegal transaction(s) as determined by
Union will not be liable for a merchant's or other parties'
applicable law; and that any such use, including any such
refusal to honor your Card whether due to an error by the
authorized use, will constitute an event of default under
Credit Union, the merchant, the Credit Union's authorized
this Agreement. The Credit Union may decline to accept,
agent, or other third party.
process or pay any transaction that we believe to be illegal
or unenforceable (regarding your obligation to pay us)
CHANGE OF NAME OR ADDRESS. You will notify immediately
under applicable law, including but not limited to any
the Credit Union in writing if your name, home address, or
transaction involving or relating to any gambling activity.
employment changes.
You agree that the Credit Union will not have any liability,
responsibility or culpability whatsoever for any such use by
you or any authorized user(s); or for declining to accept,
process, or pay any such transaction. You further agree to
indemnify and hold the Credit Union harmless from any
suits, liability, damages or adverse action of any kind that
results directly or indirectly from such illegal use.
FREEZING AVAILABLE CREDIT LINE. To protect you and us, the
Credit Union, in its sole discretion, may place a temporary
freeze on all or part of the credit available to you for new
purchases or cash advances under this agreement any time
the Credit Union receives a large payment ($1,000.00 or
more), by a method other than cash, certified funds or
electronic transfer. In such cases, the Credit Union may
freeze your credit line until payment is actually collected
by us.
TERMINATING AUTHORIZED USERS CARD(S). Company shall
have sole responsibility for notifying Credit Union in writing
regarding cancellation of charging privileges of authorized
user(s). Company shall return to the Credit Union the card
upon cancellation. Company shall be responsible for any
and all charges made prior to the return of the card to the
Credit Union.
CHANGING THIS AGREEMENT. Credit Union may change the
terms of this Agreement, including the Annual Percentage
Rate, at any time. Except where limited by applicable law,
the new terms, including, but not limited to, increasing
the finance charge or the way the Credit Union calculates
finance charges, late charges, and the minimum payment
due, will apply both to new purchases and cash advances
and to the existing outstanding balance of your account as
of the day of the change. In accordance with applicable
law, the Credit Union will notify you of any increased
charge or change by writing to you at the most recent
address shown for you on the Credit Union's records.
DELAY IN ENFORCEMENT/WAIVERS. The Credit Union may
delay or waive enforcement of any of the provisions of
this Agreement, including any agreement to make timely
payments, without losing its right to enforce the same
provision later or any other provisions of this Agreement.
You waive the right to receive notice of any waiver or delay
or presentment, demand, protest or dishonor. You also
waive any applicable statute of limitations to the full extent
7/2018