generAL eLeCTrIC CreDIT unIOn CLASSIC VISA® CArD TerMS AnD COnDITIOnS

	In	these	Terms	and	Conditions,	the	word	Card	means	a	single	Visa	card	or	two	or	more	Visa	cards	and	any	renewal	or	any	substitutes	used	for	the	Card.	The	words	
You,	Your,	and	Yours	mean	the	applicant(s)	and	anyone	else	the	applicant(s)	permits	to	use	the	Card.	The	words	We,	Us,	and	Ours	mean	General	Electric	Credit	
Union.

6.	

5. 

4.	

3.	

2.	

1.	

Transactions.	You	can	use	your	Card	to	buy	or	lease	goods	or	services	(“Purchases”)	wherever	the	Card	is	honored	and	to	get	instant	cash	loans	and	make	
other	cash	transactions	(“Cash	Advances”)	from	any	financial	institution	or	automatic	teller	machine	(card	only)	that	accepts	the	Card.	You	will	owe	us	for	all	
Purchases	and	Cash	Advances	charged	by	use	of	the	Card,	plus	any	other	charges	to	your	Card	Account	made	under	the	terms	of	this	Agreement	(“Debits”),	
plus	any	FINANCE	CHARGES,	all	payable	in	U.S.	dollars	and	as	required	by	these	Terms	and	Conditions.
Credit Line. Your	Credit	Line	is	listed	on	the	documents	accompanying	your	Card.	Your	Credit	Line	may	be	changed	and	your	latest	Credit	Line	will	be	listed	
on	your	monthly	billing	statement.	
Statements and Payments. If	you	have	a	balance	on	your	Account,	we	will	send	you	a	monthly	statement	that	will	show	separately	your	Purchases/Debits,	
any	Cash	Advances,	FINANCE	CHARGES,	if	any,	the	minimum	payment	due,	and	the	date	the	payment	is	due.	You	can	pay	all	of	your	outstanding	balance	
on	your	Card	at	any	time,	but	you	must	make	at	least	a	minimum	payment	of	3%	of	your	Card	balance	or	$25.00	(whichever	is	greater)	within	25	days	from	
the	date	of	each	monthly	statement.	You	will	be	charged	a	late	charge	of	$25.00	or	the	minimum	payment	amount	(whichever	is	lesser)	on	your	next	monthly	
statement	if	a	minimum	payment	is	not	made	within	55	days	after	the	date	of	a	monthly	statement.
AnnuAL PerCenTAge rATe. Monthly Periodic rate and Annual Percentage rate (APr) as of May 1, 2012. The	Monthly	Periodic	Rate	used	to	
compute	the	FINANCE	CHARGE	on	Visa	Classic	Card	Accounts	is	1.41666%	on	a	17.00%	APR.
FInAnCe CHArgeS on Purchases/Debits. No	FINANCE	CHARGE	will	be	imposed	if	the	New	Balance	shown	on	your	billing	statement	is	paid	in	full	within	
25	days	of	the	Billing	Date.	If	not	paid	in	full,	we	figure	the	FINANCE	CHARGE	on	your	account	by	applying	the	monthly	periodic	rate	to	the	“average	daily	
balance”	of	the	unpaid	balance	of	your	account	(including	current	transactions).
FInAnCe CHArgeS on Cash Advances.	The	FINANCE	CHARGE	on	Cash	Advances	begins	to	accrue	on	the	date	you	obtain	the	Cash	Advance	or	the	
first	day	of	the	billing	cycle	in	which	it	is	posted	to	your	account,	whichever	is	later.	We	figure	the	FINANCE	CHARGE	on	your	account	by	applying	the	monthly	
periodic	rate	to	the	“average	daily	balance”	of	your	account	(including	current	transactions).
Average Daily Balance. The	“average	daily	balance”	is	determined	by	dividing	the	sum	of	the	daily	balances	during	the	billing	cycle	by	the	number	of	days	
in	the	cycle.	Each	daily	balance	of	Credit	Purchases	(and,	if	applicable,	Cash	Advances)	is	determined	by	subtracting	from	the	Previous	Balance	of	Credit	
Purchases	(and,	if	applicable,	Cash	Advances)	any	payments	received	and	credits	as	posted	to	your	account,	but	excluding	any	unpaid	FINANCE	CHARGES.		
All	fees	except	for	the	late	charge	shall	be	treated	as	purchases	for	the	purpose	of	computing	the	Average	Daily	Balance.
returned Check and Other Fees. If	your	check	is	dishonored	or	if	we	must	return	your	check	to	you	for	any	reason,	we	will	charge	your	Purchases/Debits	
Account	a	fee	of	$25.00.	Account	printouts	$1.00.	Current	and	previous	year	statement	copy	fee	$2.00.	Older	statement	copy	fee	$3.00.	Overnight	fee	$35.00.
Default. You	will	be	in	default	under	this	Agreement	if	any	of	the	following	events	shall	occur:	(a)	If	you	fail	to	comply	with	the	minimum	payment	or	any	
other	terms	or	conditions	of	this	Agreement	or	any	other	obligation	you	have	or	will	have	with	us;	(b)	If	you	make	false	or	misleading	statements	in	any	credit	
application	or	update	of	credit	information;	(c)	If	you	should	die	or	become	insolvent;	(d)	If	a	petition	should	be	filed	or	other	proceedings	should	be	started	
under	the	Federal	Bankruptcy	Code	or	any	State	insolvency	statute	by	or	against	you;	(e)	If	a	Receiver	should	be	appointed	or	a	writ	or	order	of	attachment,	
levy	or	garnishment	should	be	issued	against	you	or	any	of	your	property,	assets	or	income;	or	(f)	If	we	should	consider	yourself	or	any	debts	due	under	this	
Agreement	unsafe	or	not	completely	secure	of	if	we	should	believe,	in	good	faith,	that	the	chances	of	your	paying	or	performing	all	of	your	obligations	under	
this	Agreement	have	been	impaired.	If	you	fail	to	fulfill	the	terms	of	this	Agreement,	a	negative	report	reflecting	on	your	credit	record	may	be	submitted	to	a	
credit	reporting	agency.	We	may	ask	for	immediate	payment	of	any	amount	owed	if	you	are	in	default	of	any	of	the	Terms	and	Conditions	of	this	agreement.
10.	 Lost or Stolen Cards. If	your	Card	is	lost	or	stolen	or	if	you	are	afraid	someone	may	use	it	without	your	permission,	you	must	notify	us	at	once	by	telephone	
at:	800.449.7728.	You	may	not	use	the	Card	or	any	other	Cards	in	your	possession	with	the	same	card	number	after	you	have	notified	us,	even	if	you	get	the	
Card	back.

7.	

9.	

8.	

11.	 Cancellation.	You	may	cancel	your	account	at	any	time	by	notifying	us	in	writing	and	returning	the	card	cut	in	half.	We	may	cancel	or	suspend	your	Card	at	
any	time	without	prior	notice	or	reissue	a	different	one	at	any	time.	If	we	ask,	you	will	destroy	the	Card	by	cutting	it	in	half	and	will	give	it	to	us	or	our	agent,	
or	mail	it	to	us.	If	the	Card	is	cancelled	or	suspended,	you	will	pay	us	the	amount	you	owe	as	required	by	these	Terms	and	Conditions.	

12.	 Liability.	Each	of	the	applicant(s)	for	the	Card	and	co-signer(s)	will	be	liable	individually	and	jointly	for	all	Purchases/Debits	and	Cash	Advances	made	with	

the	Card,	either	by	the	Card	applicant(s)	or	their	authorized	user(s).

13.	 Liability for unauthorized use. You	agree	to	promptly	notify	the	Cardholder	Services,	telephone	number:	800.654.7728	in	the	event	you	suspect	any		
unauthorized	use	of	the	card.	You	may	be	liable	for	the	unauthorized	use	of	your	Credit	Card.	You	will	not	be	liable	for	unauthorized	use	that	occurs	after	you	
notify	General	Electric	Credit	Union	at	PO	Box	31112,	Tampa,	FL	33631-3112,	orally	or	in	writing,	of	the	loss,	theft,	or	possible	unauthorized	use.	In	any	case,	
your	liability	will	not	exceed	$0.00.
Irregular Payments. We	can	accept	late	payments	or	partial	payments,	or	checks	and	money	orders	marked	with	“Payment	in	Full”	or	similar	language	
without	losing	any	of	our	rights	under	this	Agreement.

14.	

15.	 Waiver.	We	won’t	be	considered	to	have	waived	our	rights	under	this	agreement	if	we	delay	or	neglect	to	enforce	them.
16.	 Amendment.	Subject	to	applicable	state	and	federal	laws	and	regulations	and	with	such	prior	notice,	if	any,	as	may	be	required	by	laws	or	regulations,	we	

may	change	any	Terms	and	Conditions	at	any	time	and	such	changes,	at	our	option,	will	apply	to	new	Purchases/Debits	and	Cash	Advances.

17.	 Law.	Your Account	and	these	Terms	and	Conditions	will	be	governed	by	the	laws	of	the	State	of	Ohio	and	applicable	federal	laws.
18.	 Security Interest. You	grant	to	us	a	purchase	money	security	interest	under	the	Uniform	Commercial	Code	in	any	goods	you	purchase	through	the	use	of	
the	account.	If	you	default,	we	shall	have	the	right	to	recover	any	of	the	goods	which	have	not	been	paid	for	through	the	application	of	your	payments.	Any	
collateral	securing	other	loans	currently	with	or	hereafter	arising	with	us	may	also	secure	any	amount	due	on	this	account.

19.	 Statutory lien on your account.	If	you	are	in	default	on	a	financial	obligation	to	us	or	fail	to	satisfy	a	financial	obligation	to	us,	federal	law	permits	us	to	apply	
the	balance	of	shares	and	dividends	in	your	account(s)	at	the	time	of	default	to	satisfy	your	obligation.	Once	you	are	in	default,	we	may	exercise	this	right	
without	further	notice	to	you.	If	your	account	is	jointly	owned,	and	the	joint	owner(s)	is	indebted	to	us,	we	may	use	the	balance	of	shares	and	dividends	in	the	
account	to	pay	the	debt	of	the	joint	owner.	This	statutory	lien	does	not	apply	to	IRAs	or	other	tax-deferred	retirement	accounts.

20.	 Legal Activity. Any	financial	service	provided	by	the	Credit	Union	may	be	used	for	any	transaction	permitted	by	law.	You	agree	that	illegal	use	of	any	financial	
service	will	be	deemed	an	action	of	default	and/or	breach	of	contract	and	such	service	and/or	other	related	services	may	be	terminated	at	the	Credit	Union’s	
discretion.	You	further	agree,	should	illegal	use	occur,	to	waive	the	right	to	sue	the	Credit	Union	for	such	illegal	activity	directly	or	indirectly	related	to	it.	You	
also	agree	to	indemnify	and	hold	the	Credit	Union	harmless	from	any	suits	or	other	legal	action	or	liability,	directly	or	indirectly,	resulting	from	such	illegal	use.

21.	 Annual Fee. None.

Over

22.	 Currency exchange rate.	Purchase	and	cash	advances	made	in	foreign	countries	and	foreign	currencies	will	be	billed	to	you	in	U.S.	dollars.	The	conversion	
rate	to	U.S.	dollars	will	be	determined	in	accordance	with	the	operating	regulations	established	by	Visa	USA.	Currently	the	currency	conversion	rate	used	to	
determine	the	transaction	amount	in	U.S.	dollars	is	either	a	government	mandated	rate	or	the	wholesale	market	rate	in	effect	one	day	prior	to	the	transaction	
processing	date,	increased	by	one	percent.	The	currency	conversion	rate	used	on	the	processing	date	may	differ	from	the	rate	that	would	have	been	used	
on	the	purchase	date	or	cardholder	statement	posting	date.

Your Billing rights-Keep This notice for Future use 	
This	notice	contains	important	information	about	your	rights	and	our	responsibilities	under	the	Fair	Credit	Billing	Act.		

Notify Us in Case of Errors or Questions About Your Bill	
If	you	think	your	bill	is	wrong,	or	if	you	need	more	information	about	a	transaction	on	your	bill,	write	us	on	a	separate	sheet	at	the	address	listed	on	your	bill.	Write	
to	us	as	soon	as	possible.	We	must	hear	from	you	no	later	than	60	days	after	we	sent	you	the	first	bill	on	which	the	error	or	problem	appeared.	You	can	telephone	
us,	but	doing	so	will	not	preserve	your	rights.		
In	your	letter,	give	us	the	following	information:

1.	
2.	
3.	

Your	name	and	account	number
The	dollar	amount	of	the	suspected	error
Describe	the	error	and	explain,	if	you	can,	why	you	believe	there	is	an	error.	If	you	need	more	information,	describe	the	item	you	are	not	sure	about.

If	you	have	authorized	us	to	pay	your	credit	card	bill	automatically	from	your	savings	or	checking	account,	you	can	stop	the	payment	on	any	amount	you	think	is	
wrong.		To	stop	the	payment	your	letter	must	reach	us	three	business	days	before	the	automatic	payment	is	scheduled	to	occur.

Your Rights and Our Responsibilities After We Receive Your Written Notice
We	must	acknowledge	your	letter	within	30	days,	unless	we	have	corrected	the	error	by	then.	Within	90	days,	we	must	either	correct	the	error	or	explain	why	we	
believe	the	bill	was	correct.	After	we	receive	your	letter,	we	cannot	try	to	collect	any	amount	you	question,	or	report	you	as	delinquent.	We	can	continue	to	bill	you	for	
the	amount	you	question,	including	finance	charges,	and	we	can	apply	any	unpaid	amount	against	your	credit	limit.	You	do	not	have	to	pay	any	questioned	amount	
while	we	are	investigating,	but	you	are	still	obligated	to	pay	the	parts	of	your	bill	that	are	not	in	question.	If	we	find	that	we	made	a	mistake	on	your	bill,	you	will	not	
have	to	pay	finance	charges	related	to	any	questioned	amount.	If	we	didn’t	make	a	mistake,	you	may	have	to	pay	finances	charges,	and	you	will	have	to	make	up	
any	missed	payments	on	the	questioned	amount.	In	either	case,	we	will	send	you	a	statement	of	the	amount	you	owe	and	the	date	that	it	is	due.	If	you	fail	to	pay	
the	amount	that	we	think	you	owe,	we	may	report	you	as	delinquent.	However,	if	our	explanation	does	not	satisfy	you	and	you	write	to	us	within	ten	days	telling	us	
that	you	still	refuse	to	pay,	we	must	tell	anyone	we	report	you	to	that	you	have	a	question	about	your	bill.	And,	we	must	tell	you	the	name	of	anyone	we	reported	
you	to.	We	must	tell	anyone	we	report	you	to	that	the	matter	has	been	settled	between	us	when	it	finally	is.	If	we	don’t	follow	these	rules,	we	can’t	collect	the	first	
$50	of	the	questioned	amount,	even	if	your	bill	was	correct.	

Special Rule for Credit Card Purchases
If	you	have	a	problem	with	the	quality	of	property	or	services	that	you	purchased	with	a	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	property	or	services.	There	are	two	limitations	on	this	right:

(a)		 You	must	have	made	the	purchase	in	your	home	state	or,	if	not	within	your	home	state	within	100	miles	of	your	current	mailing	address;	and
(b)		 The	purchase	price	must	have	been	more	than	$50.	These	limitations	do	not	apply	if	we	own	or	operate	the	merchant,	or	if	we	mailed	you	the	advertisement	

for	the	property	or	services.

The Federal equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of: race, color, religion, 
national origin, gender, marital status, age, receipt of income from public assistance programs, and good faith exercise of any right under the 
Consumer Credit Protection Act. The federal agency which administers compliance with this law concerning this credit union is the national Credit 
union Administration, 7000 Central Parkway, Suite 1600, Atlanta, gA 30328. The Ohio Laws against discrimination require that all creditors make 
credit equally available to all credit worthy 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. California residents:	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	notified	
that	a	negative	credit	report	reflecting	on	your	credit	record	may	be	submitted	to	a	credit	reporting	agency	if	you	fail	to	fulfill	the	terms	of	your	credit	obligations.	
new York and Vermont residents:	General	Electric	Credit	Union	may	obtain	at	any	time	your	credit	reports,	for	any	legitimate	purpose	associated	with	the	
account	or	the	application	or	request	for	an	account,	including	but	not	limited	to	reviewing,	modifying,	renewing	and	collecting	on	your	account.	On	your	request,	
you	will	be	informed	if	such	a	report	was	ordered.	If	so,	you	will	be	given	the	name	and	address	of	the	consumer	reporting	agency	furnishing	the	report.	New	
York	residents	may	contact	the	New	York	State	Banking	Department	(1.800.518.8866)	for	a	comparative	list	of	credit	card	rates,	fees	and	grace	periods. Married 
Wisconsin residents:	No	provision	of	any	marital	property	agreement,	unilateral	statement,	or	court	order	applying	to	marital	property	will	adversely	affect	
a	creditor’s	interests	unless	prior	to	the	time	credit	is	granted,	the	creditor	is	furnished	with	a	copy	of	the	agreement,	statement	or	court	order,	or	has	actual	
knowledge	of	the	provision.

InTereST rATe AnD InTereST CHArgeS

Annual Percentage rate 
(APr) for Purchases

17.00%	APR	for	Classic	Visa®	

APr for Balance Transfers

17.00%	APR	for	Classic	Visa®	

APr for Cash Advances

17.00%	APR	for	Classic	Visa®	

Penalty APr and When it 
Applies

Not	applicable.

How Long Will the Penalty APr Apply?	Not	applicable.

Paying Interest

Your	due	date	is	at	least	25	days	after	the	close	of	each	billing	cycle.	We	will	not	charge	you	any	
interest	on	purchases	if	you	pay	your	entire	balance	by	the	due	date	each	month.	We	will	begin	
charging	interest	on	cash	advances	and	balance	transfers	on	the	transaction	date.

Minimum Interest Charge

If	you	are	charged	Interest,	the	charge	will	be	no	less	than	$0.00.

For Credit Card Tips from 
the Consumer Financial 
Protection Bureau

To	learn	more	about	factors	to	consider	when	applying	for	or	using	a	credit	card,	visit	the	
website	of	the	Consumer	Financial	Protection	Bureau	at:	http://www.consumerfinance.gov/
learnmore.

FeeS

Annual Fees

none.

Transaction Fees

Balance Transfer

Cash Advance

$0.00 

$0.00 

Foreign Transaction

1% of	each	transaction	in	U.S.	dollars.

Penalty Fees

Late Payment

returned Payment

$25.00 or the minimum payment amount (whichever is lesser) If	a	minimum	payment	is	not	
made	within	55	days	after	the	date	of	a	monthly	statement.
$25.00 

How We Will Calculate Your Balance:	We	use	the	method	called	“Average	Daily	Balance	(including	new	purchases).”	See	your	
Terms	and	Conditions	for	more	details.

Billing rights:	Information	on	your	rights	to	dispute	transactions	and	how	to	exercise	those	rights	is	provided	in	your	Terms	and	
Conditions.

The	information	about	the	costs	of	the	card	described	in	this	application	is	accurate	as	of	May	1,	2012.	It	may	have	changed	after	
that	date.	To	find	out	about	what	may	have	changed,	call:	513.243.4328	or	800.542.7093	or	write:	General	Electric	Credit	Union,	
10485	Reading	Road,	Cincinnati,	Ohio		45241,	Attn:	EFT	Department.