University Bank - Visa Credit Card 
Agreement 

 1. Agreement. These regulations govern the possession and use of 
credit cards (“card”) issued by University Bank (“Issuer”). Each person 
who applies for a credit card and in whose name the card is issued 
(“Holder”) consents and agrees to these regulations and to the terms 
contained on the credit cards, sales drafts, credit adjustment memos 
and  cash  advance  drafts,  signed  by  or  given  to  Holder  or  any 
authorized user of Holder’s cards. When credit cards are issued upon 
the  application  of  two  or  more  persons,  all  such  persons  shall  be 
jointly  and  severally  liable  as  Holders.  The  provisions  of  these 
regulations,  as  amended  from  time  to  time,  govern  Holder’s 
obligations,  notwithstanding  any  additional  or  different  terms 
contained  in  sales  drafts,  credit  adjustment  memos,  cash  advance 
drafts  or  other  forms  signed  by  or  given  to  Holder  or  any  user  of 
Holder  ‘s  cards  to  evidence  a  credit  card  transaction.  Holder 
authorizes  an  investigation  of  Holder’s  credit  standing  prior  to  the 
issuance  of  a  credit  card  to  Holder  and  at  any  time  thereafter  and 
authorizes  disclosure  of  information  to  third  parties  relating  to 
Holder’s  credit  standing.  These  regulations  apply  to  all  credit  cards 
issued  to  Holder  or  to  others  on  Holder’s  authorization  and  to  any 
user of Holder’s cards.  
2.  Membership  Fees.  As  a  condition  of  participation  in  the  issuer’s 
credit plan and the issuance of a card, Holder agrees that there is no 
annual  membership  fee  for  VISA  consumer  and  business  accounts. 
The membership fee described above entitles the Holder to two VISA 
cards. Holder agrees to pay a fee for each additional card requested. 
Please see Rates and Fees Disclosure Table for fees charged.  
3.  Use  of  Card.  Credit  for  purchases  from  a  merchant  or  a  cash 
advance from a participating financial institution may be obtained by 
Holder  or  an  authorized  user  of  Holder’s  card  presenting  one  of 
Holder’s  cards  to  the  merchant  or  participating  financial  institution 
and, if requested, by providing the proper identifying information and 
signing the appropriate drafts. Failure to sign a draft does not relieve 
the Holder of liability for purchases made or cash received. The use of 
this card for illegal transactions is prohibited. The card may also be 
used  to  obtain  cash  advances  from  certain  automated  equipment 
provided  it  is  used  with  Holder’s  correct  Personal  Identification 
Number  (“PIN”)  issued  to  Holder.  Holder  may  make  only  two  cash 
advance  withdrawals  totaling  not  more  than  $200  each  day  from 
compatible ATM terminals. Terminals or terminal operators may have 
other limits on the amounts or frequency of cash withdrawals. Holder 
will not be liable for the unauthorized use of the card or PIN issued to 
Holder  which  occurs  before  issuer  receives  notification  orally  or  in 
writing of loss, theft or possible  unauthorized use of a card or PIN. 
Lost or stolen cards or PINS should be reported immediately to Issuer 
by notifying CUSTOMER SERVICE, P.O. Box 30495, Tampa, FL 33630, 
and Telephone (866) 839-3485.  
4. Use of University Bank Card Checks. Credit obtained by use of a 
Balance Transfer Check shall be treated as a credit purchase. Credit 
obtained by use of Classic or Premier Check shall be treated as a cash 
advance.  
5.  Credit  Line.  Holder  will  from  time  to  time  be  informed  of  the 
amount of the approved credit line established for Holder, and Holder 
covenants not to make credit  purchases or borrowings  in excess  of 
that amount. Holder is liable for all purchases and borrowings made 
with Holder’s cards by Holder or by anyone authorized to use Holder’s 
cards.  
6. Payment. Holder will be furnished a monthly statement for each 
billing  period  at  the  end  of  which  there  is  an  undisputed  debit  or 
credit balance of $1.00 or more. Holder shall pay within 25 days after 

each statement Closing Date either (a) the full amount billed (“New 
Balance”) or, at Holder’s option, (b) a minimum Payment of $25 or 3% 
of the New Balance, whichever is greater. Payments may be mailed 
to VISA, P.O. Box 4512, Carol Stream, IL 60197-4512. Payments may 
be made, in person, at a University Bank office. Payments received 
after 5:00 p.m. on any processing day or at any time on any non-
processing  day  will  be  considered  as  payments  made  on  the 
following processing day. All payments by Holder will be applied first 
to  payment  of  Interest  Charges  in  the  order  of  their  entry  to  the 
account,  second  to  additional  fees  and  credit  insurance  charges,  if 
any,  in  the  order  of  their  entry  to  the  account,  third  to  previously 
billed cash advances, purchases and other similar charges in the order 
of  their  entry  to  the  account,  and  then  to  current  cash  advances, 
purchases and other similar charges in the order of their entry to the 
account.  
7.  Interest  Charges.  Holder  shall  pay  Interest  Charges  as  shown  on 
Holder’s monthly statements, for each billing period in which there is 
a cash advance or the Previous Balance is not paid in full prior to the 
Closing Date of the billing statement. For cash advance fees, please 
see  the  Rates  and  Fees  Disclosure  Table.  We  figure  the  Interest 
Charges on your account by applying the monthly Periodic Rate to the 
entire “Balance  Subject to Interest Rate.” The additional charge for 
cash advances shall not apply to any cash advance obtained under a 
separate  credit  agreement  with  Holder  and  written  in  connection 
with these regulations. The “Balance Subject to Interest Rate” is the 
“average  daily  balance,”  of  the  account 
(including  current 
transaction).  To  get  the  “average  daily  balance,”  we  take  the 
beginning  balance  of  the  account  each  day,  add  any  new  cash 
advances,  credit  purchases  and  other  charges,  and  subtract  any 
payments  or  credits,  unpaid  late  charges,  unpaid  membership  fees 
and unpaid Interest Charges. This gives us the daily balance. Then, we 
add up all of the daily balances for the billing cycle and divide the total 
by the number of days in the billing cycle. This gives us the “AVERAGE 
DAILY BALANCE.” Interest Charges for credit purchases begin on the 
date  the  purchase  is  posted  to  the  account  unless  the  Previous 
Balance  shown  on  the  statement  is  paid  in  full  prior  to  the  Closing 
Date of the statement. Credit purchases made during the statement 
period and the Previous Balance will be excluded from the calculation 
of the “average daily balance” if the Previous Balance shown on the 
front of the statement was paid in full prior to the Closing Date of the 
statement. The Interest Charges for cash advances begin on the date 
the  advance  is  posted  to  the  account.  Holder  may  avoid  additional 
Interest  Charges  on  an  account  by  paying  in  full  the  New  Balance 
shown on the account’s monthly statement within 25 days after the 
Closing Date for that statement.  
8.  Variable  Annual  Percentage  Rate.  The  current  monthly  Periodic 
Rate  and  corresponding  ANNUAL  PERCENTAGE  RATE  for  new 
accounts are disclosed on the accompanying card mailer. These rates 
may vary monthly and shall be adjusted on the first day of each billing 
period  (“Change  Date”).  The  ANNUAL  PERCENTAGE  RATE  on  each 
Change Date shall equal the highest prime rate published in The Wall 
Street Journal “Money Rates” tables on the last date of publication in 
the calendar month preceding each Change Date (“Index Rate”), PLUS 
a Margin. For more information on current margin(s), please refer to 
the  Rates  and  Fees  Disclosure  Table.  The  monthly  Periodic  Rate  is 
1/12th of the ANNUAL PERCENTAGE RATE. Beginning on the date an 
adjustment in the rate is effective and until the next Change Date, the 
monthly Periodic Rate then in effect will be applied to the balance in 
the account to determine the Interest Charges. An adjustment in the 
monthly  Periodic  Rate  and  corresponding  ANNUAL  PERCENTAGE 
RATE will apply both to the outstanding balances in the account and 
to  new  cash  advances,  (including  any  balance  transfers  from  other 
credit  card  accounts),  credit  purchases,  and  other  charges.  An 
increase  or  decrease  in  the  Index  Rate  will  cause  and  increase  or 
decrease  in  the  monthly  Periodic  Rate  and  corresponding  ANNUAL 

 
 
insolvent or the subject of bankruptcy or insolvency proceedings or 
fails to observe any covenant or duty contained in these regulations, 
if  such  event  or  breach  materially  impairs  Holder’s  ability  to  pay 
amounts  due;  the  full  amount  of  Holder’s  account  for  which  the 
default occurred (including unpaid Interest Charges) shall, at Issuer’s 
option become immediately due and payable if Holder does not cure 
the  default  within  15  calendar  days  after  notice  is  mailed  to  the 
address of Holder, or given as otherwise provided by law. Issuer has 
this right, without notice and opportunity to cure; if the default is the 
Holder’s third default within 12 months and the Holder is notified of 
the  prior  two  defaults  and  the  Holder  cured  those  defaults.  16. 
Termination.  Holder’s  consent  to  these  regulations  may  be 
terminated at any time by surrendering the cards issued to Holder or 
at  Holder’s  written  request,  but  such  termination  shall  not  affect 
Holder’s obligations as to any balances or charges outstanding at the 
time of termination. Termination by any Holder shall be binding on 
each  person  in  whose  name  the  card  is  issued.  If  Holder’s  spouse 
terminates  this  credit  plan,  the  full  amount  of  Holder’s  account 
(including unpaid Interest Charges) may be declared immediately due 
and payable. Issuer may terminate Holder’s privilege to use the cards 
if Holder moves out of the service area of Issuer, as defined by Issuer 
from time to time. Unless sooner terminated, the privilege to use the 
cards  shall  expire  on  the  date  shown  on  the  cards.  At  any  time, 
without liability to Holder and without affecting Holder’s liability for 
credit previously extended, Holder’s privilege to use the cards may be 
revoked or limited to the extent not prohibited by law. The cards are 
and  shall  remain  the  property  of  Issuer  and  Holder  agrees  to 
surrender them to Issuer upon demand.  
17. Amendments. Issuer may amend these regulations from time to 
time by sending Holder advance written notice not less than 90 days 
prior  to  the  effective  date  for  any  change  that  is  either  adverse  to 
Holder’s outstanding balance or increases certain fees, as required by 
the MI Consumer Act from time to time, or not less than 15 days prior 
to  the  effective  date  for  other  changes,  or  as  may  otherwise  be 
required or permitted by law. To the extent that Issuer indicates in 
the  notice  and  that  the  law  permits,  amendments  will  apply  to 
Holder’s  existing  account  balance  as  well  as  to  future  transactions. 
Notices are deemed given when mailed by Issuer to any Holder to the 
current  address  for  mailing  monthly  statements.  Invalidity  of  any 
provision of these regulations shall not affect the validity of any other 
provisions unless otherwise provided by the MI Consumer Act.  
18.  Governing  Law.  Holder  agrees  to  be  governed  by  the  MI 
Consumer Act with respect to all aspects of the transactions arising 
under these regulations. All statutory references are to the statutes 
as they may be renumbered or amended from time to time. 

PERCENTAGE  RATE  and  may  increase  the  amount  and  number  of 
minimum payments. If the Index Rate ceases to be made available, 
Issuer may substitute a substantially similar index and margin.  
9. How We Will Calculate Your Variable APRs: We calculate variable 
APRs by adding a margin to the highest U.S. Prime Rate published in 
the Money Rates section of The Wall Street Journal two business days 
(not weekends or federal holidays) before the closing date shown on 
your billing statement. The APR may increase or decrease each month 
if the Prime Rate changes. Any new rate will be applied as of the first 
day of your billing cycle during which the Prime Rate has changed. If 
the APR increases, you will pay a higher interest charge and may pay 
a  higher  minimum  payment.  The  Prime  Rate  is  simply  a  reference 
index and is not the lowest interest rate available. If The Wall Street 
Journal  stops  publishing  the  Prime  Rate,  we  will  select  a  similar 
reference rate.  
10. Additional Fees. For a listing of fees charged in association with 
this  card,  please  see  the  Rates  and  Fees  Disclosure  Table 
accompanying this Agreement. These charges will not be imposed if 
Holder’s request is in connection with or delivery of the documents in 
response to an alleged billing error under Regulations E or Z issued by 
the Board of Governors of the Federal Reserve System. Fees imposed 
will be posted to Holder’s account.  
11.  Security  Interest.  All  credit  advanced  to  Holder  for  credit 
purchases  or  cash  advances  constitutes  loans  made  by  Issuer  to 
Holder in the state of MI. Issuer disclaims as security for loans made 
to Holder under these regulations any security interest it may at any 
time have in household goods or real property. Except as disclaimed 
above,  loans  made  to  Holder  after  the  effective  date  of  these 
regulations  may  be  secured  by  collateral  given  by  any  Holder  to 
secure other loans from Issuer.  
12. Insurance. If the Holder is eligible and elects to participate in the 
group credit life, disability and loss of income insurance program by 
signing the appropriate enrollment forms, insurance charges will be 
posted  to  Holder’s  account  each  statement  period  at  the  rate 
disclosed in the enrollment form based upon the New Balance on the 
account  (including  accrued  Interest  Charges)  for  each  statement 
period. CREDIT LIFE, DISABILITY AND LOSS OF INCOME INSURANCE IS 
VOLUNTARY AND IS NOT REQUIRED AS A CONDITION TO HOLDER’S 
PARTICIPATION IN THIS CREDIT PLAN.  
13.  Foreign  Transactions.  If  a  Holder’s  card  is  used  to  effect  a 
transaction  in  a  foreign  currency,  the  transaction  amount  will  be 
converted  to  U.S.  dollars  by  VISA  International,  VISA  converts 
currency  to  U.S.  dollars  using  either  the  government  mandated 
exchange  rate  or  the  wholesale  exchange  rate,  in  effect  one  day 
before the date of the conversion, as applicable. The exchange rate is 
increased by 1% if the conversion is made in connection with a charge 
to  an  account  and  decreased  by  1%  if  the  conversion  is  made  in 
connection  with  a  credit  to  an  account.  The  date  of  conversion  by 
VISA  may  differ  from  the  purchase  date  and  the  posting  date 
identified in the monthly statement for the account. Holder agrees to 
pay charges and accept credits for the converted transaction amounts 
in accordance with the terms of this paragraph.  
14. Disputes. Issuer is  not responsible for refusal  by any merchant, 
financial  institution  or  automated  equipment  to  honor  or  accept  a 
card.  Except  as  provided  in  the  Federal  Truth-in-Lending  laws(as 
indicated  in  the  Summary  of  Billing  Rights  below),  Issuer  has  no 
responsibility for merchandise or services obtained by Holder with a 
card  and  any  dispute  concerning  merchandise  or  services  will  be 
settled between Holder and the merchant concerned.  
15.  Default.  Holder  covenants  to  observe  and  comply  with  these 
regulations and covenants not to permit an event of default to occur. 
Upon the occurrence of any one or more of the following events of 
default: (a) Holder fails to pay at least the Minimum Payment when 
due on two occasions within any 12-month period; or (b) Holder dies, 
ceases  to  exist,  changes  residency  to  another  state,  becomes