First National Bank
Credit Card Contract and Initial Disclosure Statement 

M-131467

Interest Rates and Interest Charges
Annual Percentage Rate (APR)
for Purchases
APR for Cash Advances
How to Avoid Paying Interest 
on Purchases

Minimum Interest Charge
For  Credit  Card  Tips  from  the 
Consumer Financial Protection 
Bureau

Fees

Annual Fee

Transaction Fees
  Cash Advance
  Foreign Transaction

Penalty Fees
  Late Payment
  Returned Payment

14.90% This APR will vary with the market based on the Prime Rate.  
23.90% This APR will vary with the market based on the Prime Rate.
Your due date is at least 25 days after the close of each billing cycle. We will not 
charge you interest on purchases if you pay your entire balance by the due date 
each month.
If you are charged interest, the charge will be no less than $1.00.
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

None

Either  $10  or  4%  of  the  amount  of  each  cash  advance,  whichever  is  greater. 
2% of each transaction in U.S. dollars.

Up to $25
Up to $25

How We Will Calculate Your Balance: We use a method called “average daily balance (including new purchases).”

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in Paragraph 
16 of this Contract.

Please read this contract carefully. Your credit card account is governed by this contract. In the contract, “bank,”  
“we,” “our” and “us” refer to First National Credit Card (Ft. Pierre, SD) and we are the creditor named in the 
application you signed. “You,” “your” and “applicant” are the person(s) who applied to us for the account. 
“Contract” means the terms and conditions outlined in this contract. “Account” means the credit card account we  
open for you to use to access the credit we extend to you. “Credit limit” means the maximum account balance you 
can have at any time.

1.  Your Responsibility for the Account: You are responsible for the balance on the account and you agree to pay 
the balance under the terms of this contract. You need to sign the back of the card. You need to protect and control 
the card by not letting any other person use it. If you let another person use it, you agree to be responsible for any 
charges they make. We may let you add an authorized user to your account. An authorized user is any person you 
give permission to use the card or your account. If you add an authorized user, you agree to pay for any charges 
they make as well as any related fees or interest. If you do not pay for the charges made by the authorized user, we 
may choose to collect directly from them. If you want to remove an authorized user from your account, you need 
to get the card from them and notify us. If you cannot get the card, contact us immediately and we will close the 
account to try to stop further charges. The cards remain our property and you agree to return them at our request 
or we have the right to have a merchant keep the card and return it to us. If your card is lost or stolen or you suspect 
unauthorized use of your account, you agree to notify us immediately.

2.  Using  your Account  to  Obtain  Credit: You  can  use  the  card  and  your  account  to  make  charges  as  long  as 
you do not charge more than your credit limit. We can close or suspend the account at any time for any reason 
including if the activity on your account appears suspicious, if we are concerned about repayment or if the balance 
is over the credit limit. We can also limit the number or amount of charges you can make on the account. You 
may be assigned a PIN (Personal Identification Number) or you may request a PIN to use at ATMs to obtain cash 
advances. The minimum cash advance is $20.00. Your card and account cannot be used for illegal charges. You 
may not use your Card in connection with any gambling transaction.

3.  Your Credit Limit: The credit limit is included in the information sent with your card and on your statements. You 
may not go over your credit limit at any time. If your balance is more than your credit limit, you must pay the amount 
over your credit limit immediately. Your cash advance limit will be 50% of your total credit limit.   

4.  Monthly  Billing  Statements:  We  will  send  you  a  statement  every  month  with  the  account  activity,  fees  and 

interest. It will also show your minimum payment and payment due date. 

5.  Rewards  Program  Information:  You  will  earn  $1  in  rewards  for  every  $100  in  net  purchases  made  on  your 
account.  Net  purchases  are  purchases  made  during  the  billing  cycle  minus  returns  and  disputed  purchases. 
Rewards earned during a billing cycle will be awarded when that cycle’s billing statement prints. Rewards can be 
redeemed one billing cycle after awarded. There is no limit on the amount of rewards you can earn. You will not 
earn rewards on cash advances, fees or interest charges. Rewards cannot be redeemed until your account has 
been open 90 days. When you  have been awarded $25 or more in rewards, you can redeem your rewards by 
calling the customer service telephone number on your statement. Rewards must be redeemed in $25 increments. 
Redeemed rewards will post as a payment to your account. You may also have to make a separate payment to 
meet the required minimum due on that billing statement. If redeemed rewards create a credit balance on your 
account, you may request a refund check or the credit balance may be automatically refunded to you. The rewards 
balance will appear on your monthly billing statement. Rewards will expire after 5 years. Rewards are forfeited if 
the account is suspended or closed for any reason.  

6.  Payments: Payments should be sent to the address on the payment coupon with your billing statement. If you 
send a payment to any other address, there may be a delay in crediting it to your account. We do not lose any 
of our rights to collect the full balance if we accept late payments, partial payments or checks or money orders 
marked “payment in full” or similar language. Do not send us postdated checks. If you do, we may deposit these 
checks when we receive them and will not be liable for any fees that may result. We will post payments when 
received but we may restrict your ability to make new charges against that payment amount for up to thirty (30) 
days. If your payment is returned unpaid from your bank, we may re-present it electronically. If this occurs, your 
check will not be sent to your bank but they can get a copy of it at your request.

7.  Minimum Payment and Monthly Payment: You may pay your entire balance at any time without penalty. You 
must pay at least the minimum payment each month by the payment due date. The payment due date will be at 
least twenty-five (25) days from the closing date. The closing date is the last day of the billing cycle.
 Monthly Payment: If your balance is less than $30, the monthly payment is the balance.  If your balance is greater 
than $30, your monthly payment is the largest amount of either $30 or 4% of your balance or 1% of the balance 
plus the current late fee and interest.

   Minimum Payment: The minimum payment is the sum of any past due monthly payments plus the current monthly 

payment plus any amount over your credit limit. 

8.  Applying your Payments: In general, the payment will be applied in the following order: unpaid interest, unpaid 
fees and other charges; and then principal balance. Payments applied to the principal balance will first be paid to 
balances at the highest annual percentage rate (APR) and then to balances at lower APRs.

9.  Payment Methods: All payments must be made in U.S. dollars and drawn on a financial institution located in the 

United States. Do not send cash through the mail.

 
 
 
 
 
 
 
  
  
10.  When Interest is Charged: Interest will be charged if you did not pay the previous balance in full by the payment 
due date. We will charge interest on the average daily balance. Average daily balance starts with the previous 
balance and adds purchases and cash advances as of their post dates and fees and charges as of the transaction 
dates. We subtract payments and credits as of their post dates. Then we add the daily balances and divide by the 
number of days in the billing cycle. Billing cycle means the time between two billing statements. To calculate the 
interest on purchases, we multiply the average daily balance by the monthly periodic rate. The monthly periodic rate 
is calculated by dividing the annual percentage rate by 12 months.  For purchases, the current Annual Percentage 
Rate is 14.90% (Prime Rate plus 11.65%) with a 1.2417% current monthly periodic rate.  For cash advances, the 
current Annual  Percentage  Rate  is  23.90%  (Prime  Rate  plus  20.65%)  with  a  1.9917%  periodic  rate.  If  you  are 
charged interest, the charge will be no less than $1.00.

Variable Rate APR: The Prime Rate is determined by using the “Money Rates” column in the Wall Street Journal 
on the first business day of each month, which is identified as “The base rate on corporate loans at large, U.S. 
money center commercial banks.” If more than one “Prime Rate” is listed in that column, the largest rate listed will 
be used. Your APR may increase or decrease if the Prime Rate changes.

11.  Account Fees: You agree to pay us the following fees which will be billed to your account as a purchase and will 

accrue interest: 
a. Cash Advance Fee: You will be billed a fee of $10 or 4% of the amount of each cash advance, whichever is    
     greater,  for each cash advance taken through an ATM, bank withdrawal or other means. 
 b. Late Fee: You will be billed up to $25 if your payment is not received by the payment due date.
       c. Returned Payment Fee: You will be billed up to $25 if your payment is returned for any reason. 
       d.   Foreign Transaction Fee: We charge a 2% fee for converting transactions to U.S. dollars if made in another   

    currency. 

12.  Lost or Stolen Cards: If your card is lost, stolen or being used without your permission, call us toll free at (866) 
643-1256 24 hours a day. You should also write to us. Do not use the card or account after you have notified us. 
You will not be responsible for paying for any unauthorized use after you notify us of the loss, theft or unauthorized 
use.

13.  If Card is Refused: We are not responsible  and have no  liability  if your card  or  account  is not  accepted  for a 
charge. Although you may have the credit available, we may be unable to authorize credit due to system difficulties 
or mistakes. If your account is over the credit limit or past due, authorization for charges should be declined.

14.  Cardholder Privacy: We will send you a privacy notice annually. Your telephone calls with our representatives 
may be recorded for quality and other purposes. We may use automated telephone equipment or pre-recorded 
telephone calls to contact you at any number you provide to us or that we obtain, including any cellular telephone 
number.  You  agree  that  we  will  not  be  responsible  for  the  release  of  information  to  anyone  who  has  gained 
possession of you card or identification number, credit account number or social security number.

15.  Calls and Text Messages to Your Cellular Phone: If you provide us with your cellular phone number, you are 
providing this phone number for us, our affiliates or any third party acting on our behalf to call or text you at any 
number provided. We may contact you using an auto-dialer or pre-recorded voice message. You agree that we 
may use this phone number to contact you for any business purpose about your account and you agree to be 
responsible for any fees or charges you incur as a result of providing this information. We may offer options for text 
messages or other electronic communications that may be received or accessed from your cellular phone and you 
agree that by enrolling in these services, you understand and agree to be responsible for any fees or charges you 
incur as a result of this enrollment.

16.  Your  Billing  Rights:  Keep  this  Document  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:  First National Credit Card, PO Box 5097, Sioux Falls, SD 57117. In your letter, give us the following information: 
Your name and account number; the dollar amount of the suspected error; a description of the problem. If you think 
there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake. You must 
contact us: 1) Within 60 days after the error appeared on your statement; and, 2) If you have enrolled in automatic 
payment, at least 3 business days before the 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. 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.

   When we receive your letter, we must do two things: 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. 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 questioning your bill. We must tell you the name of anyone to whom we reported you as 
delinquent, and we must let those organizations know when the matter has been settled between us. 
If we do not follow all of the rules above, you do not have to pay the 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  are  dissatisfied  with  the  goods  or 
services that you have purchased with your credit card, and you have tried in good faith to correct the problem with 
the merchant, you may have the right not to pay the remaining amount due on the purchase. To use this right, all of 
the following must be true: 1) The purchase must have been made in your home state or within 100 miles of your 
current mailing address, and the purchase price must have been more than $50. These limitations do not apply 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 at: 
First National Credit Card, PO Box 5097, Sioux Falls, SD 57117. While we investigate, the same rules apply to the 
disputed amount as discussed 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.

17.  ARBITRATION: PLEASE READ THIS CAREFULLY.  YOU AGREE THAT ANY DISPUTE WILL BE RESOLVED 
BY  BINDING  ARBITRATION.    ARBITRATION  REPLACES  THE  RIGHT  TO  GO  TO  COURT,  INCLUDING  THE 
RIGHT TO A JURY AND THE RIGHT TO PARTICIPATE IN A CLASS ACTION OR SIMILAR PROCEEDING.  IN 
ARBITRATION, A DISPUTE IS RESOLVED BY AN ARBITRATOR INSTEAD OF A JUDGE OR JURY.  ARBITRATION 
PROCEDURES ARE SIMPLER AND MORE LIMITED THAN COURT PROCEDURES.  YOU ALSO AGREE ANY 
ARBITRATION WILL BE LIMITED TO THE DISPUTE BETWEEN YOU AND US AND WILL NOT BE PART OF A 
CLASS-WIDE OR CONSOLIDATED ARBITRATION PROCEEDING.
Agreement  to  Arbitrate:  You  and  we  agree  that  any  dispute  will  be  resolved  by  arbitration.  This  agreement  is 
governed by the Federal Arbitration Act (FAA), 9 USCS § 1 et seq. and the substantive law of the state of South 
Dakota.
Definitions:  Arbitration  is  a  means  of  having  an  independent  third  party  resolve  a  dispute.    A  “dispute”  is  any 
controversy or claim between you and us.  The term dispute is to be given its broadest possible meaning and includes, 
without limitation, all claims or demands (whether past, present or future, including events that occurred prior to the 
opening of this account), based on any legal or equitable theory (tort, contract or otherwise), and regardless of the 
type of relief sought (i.e. money, injunctive relief or declaratory relief).  A dispute includes, by way of example and 
without limitation, any claim based upon federal or state constitution, statute, ordinance, regulation, or common law, 
and any issue concerning the validity, enforceability or scope of this arbitration agreement.  The term “you” includes 
any authorized user and also your heirs, guardian, personal representative or trustee in bankruptcy.  The term “us” 
includes our employees, officers, directors, attorneys, affiliated companies, predecessors and assigns, as well as our 
marketing, servicing and collection representatives and agents.
Selection of Arbitrator:  If a dispute arises, the party asserting the claim or defense must initiate arbitration, provided 
you or we may first try to resolve the matter informally or through customary business methods, including collection 
activity.  The  party  filing  arbitration  may  initiate  and  pursue  the  matter  with  the  American  Arbitration  Association 
(“AAA”) or JAMS, The Resolution Experts or we may agree upon a different arbitrator described below. If you claim 
you have a dispute with us, but do not initiate arbitration or select an arbitrator, we may do so. You may obtain copies 
of the current rules of arbitration and forms and instructions for initiating arbitration by contacting them as follows:   

American Arbitration Association 
335 Madison Avenue, Floor 10
New York, NY 10017-4605
Website: www.adr.org

 JAMS, The Resolution Experts 
1920 Main Street, Suite 300
Irvine, CA 92614
Website: www.jamsadr.com
 Phone: (949) 224-1810 or (800) 352-5267

The policies and procedures of the arbitrator will apply 
provided that they are consistent with this arbitration agreement.  
To the extent the arbitrator’s rules or procedures are different than the terms of this arbitration agreement, the terms 
of this arbitration agreement shall apply. If either of the arbitration firms are not available to adjudicate the matter, or 
if the neither is convenient or acceptable to you, you and we may agree on one or more neutral arbitrators. If you and 
we cannot agree on arbitrator(s), an arbitrator will be appointed by a court with jurisdiction over the matter pursuant 
to the FAA.
Cost of Arbitration: We will pay the filing fee and any costs or fees charged by the arbitrator regardless of whether 
you or we initiate the arbitration.  Except where otherwise provided by applicable law, each party will be responsible 
for its own attorneys’ fees and other expenses.  Unless prohibited by law, the arbitrator may award fees, costs and 
reasonable attorneys’ fees to the party who substantially prevails in the arbitration.
Place of Arbitration: Unless you and we agree to a different location, the arbitration will be held in the same city as 
the U.S. District Court closest to your then-current mailing address. The arbitrator may decide the matter based upon 
written submissions by the parties if permitted under the arbitration rules. 

   Waiver of Rights: You are waiving your right to a jury trial, to have a court decide your dispute, to participate in a 
class action lawsuit and to certain discovery and other procedures that are available in a lawsuit.  The arbitrator has 
the ability to award all remedies available by statute, at law or in equity to the prevailing party.  You and we agree 
that the arbitrator has no authority to conduct class-wide proceedings and will be restricted to resolving the individual 
disputes between you and us.  If an arbitration firm or arbitrator fails or refuses to enforce the waiver of class-wide 
arbitration, then the dispute will proceed in court. The validity, effect and enforceability of this waiver of class action 
lawsuit  and  class-wide  arbitration  is  to  be  determined  solely  by  a  court  of  competent  jurisdiction  and  not  by  the 
arbitration firm or arbitrator. If such court refuses to enforce the class-wide arbitration waiver, then it is agreed the 
dispute will proceed in court rather than arbitration.

  
  
  
  
  
  
  
  
  
 
 
 
  
 
  
  
  
         
 
 
 
         
   Review of Arbitration Award: The arbitrator shall apply applicable federal and South Dakota substantive law and 
the terms of your agreement with us.  The arbitrator shall make written findings and the arbitrator’s award may be 
filed with any court having jurisdiction.  The arbitration award shall be supported by substantial evidence and must 
be consistent with your agreement with us and applicable law or may be set aside by a court upon judicial review.  
   Other  Provisions:  If  any  portion  of  this  arbitration  agreement  is  subsequently  deemed  unenforceable,  the 
enforceability of any other provision of this arbitration agreement shall not be affected and the unenforceable term 
shall be amended such that it is enforceable to the maximum extent permitted by law provided that if a class action 
litigation or a class-wide arbitration is permitted for any reason, either party may require that the entire dispute be 
heard by a Judge, sitting without a jury, under applicable court rules and procedures.  This arbitration provision 
shall survive: (i) termination or changes in your agreement with us, your card account, or the relationship between 
you and us concerning your card account; (ii) the bankruptcy of any party; and (iii) any transfer, sale or assignment 
of the card account, or any amounts owed on the card account, to any other person or entity.
Right to Opt-Out: If you do not wish to agree to arbitrate all disputes with us, you must advise us in writing at the 
following address within thirty (30) days of our mailing this agreement to you at the most recent mailing address 
we have for you: First National Credit Card, PO Box 5097, Sioux Falls, SD 57117-5097.

18.  Delay in Enforcement: We can delay enforcing or fail to enforce any of our rights under this contract without 

losing our right to enforce them at a later time.

19.  Credit Reports: You authorize us to obtain credit reports about you for any legitimate business purpose. We may 
obtain a credit report for reviewing, modifying the terms, renewing the account or collecting on the account. We 
may report information about your account to credit bureaus. Late payments, missed payments, or other defaults 
on your account may be reflected in your credit report. You and each authorized user agree that we may report 
account information to credit reporting agencies in the names of both you and the authorized user.

20.  Change in Terms of Your Credit Account: We may change any term of this contract at any time upon notice to 
you as is required by law. You may have the right to reject the change in terms, depending on the type of change, 
and if you do, your account will be closed and you will be able to pay off the balance under the terms in effect at 
that time.

21.  Law Governing this Contract: This contract is entered in the state of South Dakota where the decision to grant 
credit will be made. Therefore, this contract will be governed by the laws of the state of South Dakota applicable 
to contracts, and applicable federal law.

22.  Severability: If any provision of this contract is invalid or unenforceable under any law, rule or regulation of any 
governmental agency, federal, state or local, it shall not affect the validity or enforceability of any other provision 
of this agreement.

23.  Default: You will be in default of this contract if any of the following occur: 

a. If you do not make a minimum payment on your account on or before the payment due date;
b. If you die or become legally incompetent;
c. If you become insolvent or bankrupt;
d. If you exceed or attempt to exceed your credit limit;
e. If you provide us with or have provided us with false or misleading information or signatures at any time;
f.  If you fail to comply with this contract;
g. If you request an excessive number of replacement cards; or
h. We reasonably deem the prospect of repayment of your account to be in jeopardy for any reason.

If you are in default, we may immediately cancel your account and we do not have to give you notice of cancellation. 
We can also require that you pay us the balance on your account. You agree that you will return the card(s) to us. 
Even if an account is in default, you agree to pay interest and fees as defined in this contract until your balance is 
paid in full. If your account is in default and you try to make charges, we can use any legal means to recover the 
card(s) including listing your account in warning bulletins and offering rewards for the return of the cards. If you 
resolve a default situation, we can still declare your account in default for the same or different reason at a later 
time.

24.  Cancellation: You may cancel your account at any time by notifying us in writing at the address on your monthly 
statement and returning all cards issued on your account (cut in half). Even if your account is closed, you agree 
to pay the balance on the account under the terms of this contract. We can suspend your account privileges or 
cancel your account at any time, for any reason. We will notify you after we do so, unless you are in default at 
that time. We will have no obligation to notify you prior to suspending your charging privileges or cancelling your 
account.

25.  Our property: Each card that we issue on your account must be signed by the person named on it.  You agree to 

surrender the card upon demand by us or our agents.

26.  Refund of Initial Fees: If you cancel your account within 90 days after the contract is first mailed to you and if 
you have not used your account for any charges, all fees and interest billed to your account will be credited back 
to your account.

27.  Collection Costs: Unless prohibited by applicable law, if we start collection proceedings to recover amounts you 

owe us by reason of this contract, you agree to pay reasonable attorney’s fees and other collection costs.

  
 
  
  
  
  
  
  
  
  
  
 28.  Headings: The headings used in this contract are for the convenience of reference only and are not intended in 

any way to define or describe the scope or intent of any provision of this contract.

29.  State Notices:

 a.  California residents: A married applicant may apply for a separate account. As required by law, you are  
 hereby notified  that negative credit reporting may be submitted to a credit reporting agency if you fail to fulfill the  
 terms of your credit obligations. After credit approval, each applicant shall have the right to use the account up   
  to the limit of the account. Each applicant may be liable for amounts extended under the plan to any joint applicant.
b.  Kentucky residents: You may pay the unpaid balance of your account in whole or in part at any time.
c.    Maine  residents:  Payment  Protection  provided  herein  is  voluntary  and  you  have  the  right  to  cancel  such 
protection at any time.
d.  New York residents: Consumer reports may be requested in connection with the processing of the application 
and any resulting account. Upon your request, we will inform you of the names and addresses of any consumer 
reporting  agencies  which  have  provided  us  with  such  reports.  New  York  residents  may  contact  the  New  York 
Department of Financial Services to obtain a comparative list of credit card rates, fees and grace periods. New 
York Department of Financial Services 1-800-342-3736 or http://www.dfs.ny.gov/consumer/creditdebt.htm.
e. Ohio residents: The Ohio laws against discrimination require that all creditors make credit equally available to 
all creditworthy customers, and that credit reporting agencies maintain separate credit histories on each individual 
upon request. The Ohio Civil Rights Commission administers compliance with this law.