ANNUAL PERCENTAGE Rate 
(APR) for Purchases, Balance 
Transfers and Cash Advances 
Variable Rate Information 

How to Avoid Paying Interest on 
Purchases 

Minimum Interest Charge 
For Credit Card Tips from the 
Federal Reserve Board 

MAX CREDIT UNION  
GOLD CREDIT CARD 

Interest Rates and Interest Charges 

10.90% 

Your APR will not vary in relation to an index. However, all terms of your 
Credit Card Agreement are subject to change with 45 days prior notice. 
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 
balance transfers and cash advances on the transaction date. 
None 
To learn more about factors to consider when applying for or using a 
credit card, visit the website of the Federal Reserve Board at 
http://federalreserve.gov/creditcard 

Annual Fee 
Transaction Fees 

Fees 

None 

  Balance Transfer 
  Cash Advance 
  Foreign Transactions 

None 
None 
1% International Transaction Fee 

Penalty Fees 

  Late Payment 

  Over-the Credit Limit 
  Returned Payment 

5% of the amount of the scheduled payment in default, with a minimum 
charge of $0.50 and a maximum charge of $25.00 
None 
$30.00 

How We Will Calculate Your Balance: We use a method called “Average Daily Balance (including new 
purchases)”. See your account agreement for more details. 

Billing  Rights:  Information  on  your  rights  to  dispute  transactions  and  how  to  exercise  those  rights  is 
provided in your account agreement. 

MAX.GCC                                                                               Page 1 of 5                                                             Effective Date 8/2010 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
MAX CREDIT UNION  
GOLD CREDIT CARD AGREEMENT 

In this Agreement, the words “you” and “your” mean each and all of those who have applied for the Card, 
signed  the  Card,  used  the  Card  or  authorized  someone  else  to  use  the  Card.  “Card”  means  either  the 
VISA  GOLD  card,  the  MASTERCARD  GOLD  credit  card,  or  both,  and  any  duplicates  and  renewals  we 
issue. Account means your VISA GOLD card or MASTERCARD GOLD credit card Line of Credit Account 
with us. “We,” “us” and “ours” mean MAX Credit Union. If you do not agree to the terms and conditions of 
this Agreement, you must not use any Card issued to you and you must cut all Cards issued to you in half 
and return them to us. 

1.  Responsibility.  If  we  issue  you  a  Card,  you  agree  to  repay  all  debts  and  the  FINANCE 
CHARGE  arising  from  the  use  of  the  Card  and  the  Account.  For  example,  you  are  responsible  for 
charges made by yourself, your spouse and minor children. You also agree to be responsible for charges 
made  by  anyone  else  to  whom  you  give  the  Card,  and  this  responsibility  continues  until  the  Card  is 
recovered.  You  cannot  disclaim  responsibility  by  notifying  us,  but  we  will  close  the  Account  for  new 
transactions if you so request and if you return all Cards. 
Your obligation to pay the Account balance continues even though an agreement, divorce decree or other 
court judgment to which we are not a party may direct you or one of the other persons responsible to pay 
the Account. Any person using the Card is jointly responsible with you for charges he or she makes, but if 
that person signs the Card, he or she becomes a party to this Agreement and is also jointly responsible 
for  all  charges  on  the  Account,  including  yours.  You  agree  the  Card  may  not  be  used  for  any  illegal  or 
unlawful activity or transactions, including but not limited to, illegal gambling. 

2. Lost Card Notification.  If you believe the Card has been lost or stolen,  you will immediately 

call us at 1 (800) 325-3678. 

3. Liability for Unauthorized Use. You may be liable for the unauthorized use of your Card. You 
will not be liable for unauthorized use that occurs after you notify the Credit Union, orally or in writing, of 
the loss, theft, or possible  unauthorized use.  In any case,  your liability  will not exceed $50.00. For Visa 
cards,  if  you  tell  the  Credit  Union  after  learning  of  the  loss  or  theft  of  the  Card  your  liability  for 
unauthorized  transactions  using  the  VISA  system  is  zero.  For  ATM  transactions,  card  transactions 
through  a  non-Visa  network,  Visa  Commercial  cards,  Visa  or  Plus*  ATM  or  any  ATM  transactions,  or 
cards issued outside the United States, if you tell the Credit Union within two (2) days after learning of the 
loss or theft of the Card, your liability for unauthorized transactions is $50.00 and $500 if you do not tell 
the  Credit  Union  within  two  (2)  business  days  and  if  you  do  not  tell  us  within  sixty  (60)  days  after  the 
statement  was  mailed,  you  may  not  get  back  any  money  you  lost  if  we  can  prove  that  we  could  have 
stopped someone from taking the money had you told us in time. We may require you to provide a written 
statement  regarding  claims  of  unauthorized  transactions.  If  we  determine  that  you  have  been  grossly 
negligent  or  fraudulent  in  the  handling  of  your  account  or  Card,  your  liability  may  increase.  For 
MasterCard  credit  card,  you  will  have  no  liability  for  unauthorized  use  if  you  comply  with  each  of  the 
following: you report the loss, theft or possible unauthorized use of the Card to the Credit Union orally or 
in writing; you demonstrate that you have exercised reasonable care with the Card; you have not reported 
two or more incidents of unauthorized use on your account within the preceding twelve months, and your 
account is in good standing. If you do not meet all of these conditions, your liability for unauthorized Card 
use is a maximum of $50.00. The term “unauthorized” use does not include losses that occur due to any 
of the following conditions: use of the Card from which you receive a benefit or use of the Card by a 
person with actual, implied , or apparent authority. These limits of liability may be exceeded to the extent 
allowed  under  applicable  law,  if  we  determine  that  you  handled  the  account  in  a  fraudulent  or  grossly 
negligent  manner.  These  rules  do  not  apply  to  Maestro,  Cirrus  Card  transactions  or  other  electronic 
transfers. 

4. Credit Line. If we approve your application, we will establish a self-replenishing Line of Credit 
for you and notify  you of its amount when we issue the Card. You agree not to let the Account balance 
exceed this approved Credit Line. Each payment  you make on the Account will restore your Credit Line 
by the amount of the payment which is applied to principal. You may request an increase in your Credit 
Line  by  written  application  to  us,  or  by  telephone  at  334-279-1122  or  1-800-279-7535,  which  must  be 
approved by a loan officer. By giving you written notice, we may reduce your Credit Line from time to time 
or, with good cause, revoke your Card and terminate this Agreement. Good cause includes your failure to 
comply  with  this  Agreement  or  our  adverse  reevaluation  of  your  credit  worthiness.  You  may  also 
terminate this Agreement at any time, but termination by either you or us does not affect your obligation to 
pay the Account balance. The Cards remain our property, and you must recover and surrender to us all 
Cards upon our request and upon termination of this Agreement. 

MAX.GCC                                                                               Page 2 of 5                                                             Effective Date 8/2010 

 
 
5.  Credit  Information.  You  authorize  us  to  investigate  your  credit  standing  when  opening, 
renewing or reviewing your Account, and you authorize us to disclose information regarding your Account 
to credit bureaus and other creditors who inquire of us about your credit standing. 

6. Monthly Payment. We will mail you a statement every month showing your Previous Balance 
of purchases and cash advances, the current transactions on your account, the remaining credit available 
under your Credit Line, the New Balances of purchases and cash advances, the Total New Balance, the 
FINANCE CHARGE due to date, any other billed fees, and the Minimum Payment required. Every month 
you must pay at least the Minimum Payment within 25 days of your statement closing date. You  may; of 
course, pay more frequently, pay more than the Minimum Payment, or pay the Total New Balance in full, 
and you will reduce the FINANCE CHARGE by doing so. The Minimum Payment will be either (a) 3.00% 
of  your  Total  New  Balance,  or  $10.00,  whichever  is  greater,  or  (b)  your  Total  New  Balance,  if  it  is  less 
than $10.00, plus (c) any portion of the Minimum Payment(s) shown on prior statement(s) which 
remains  unpaid.  In  addition,  at  any  time  your  total  New  Balance  exceeds  your  Credit  Line,  you  must 
immediately pay the excess upon our demand. We will apply your payments first to the previously billed 
and  unpaid  FINANCE  CHARGE  on  cash  advances;  then  to  the  previously  billed  and  unpaid  FINANCE 
CHARGE  on  purchases;  then  to  any  late  charge  outstanding  and/or  any  over  the  limit  charge 
outstanding,  if  applicable:  then  the  remainder  of  the  payment  will  be  prorated  and  applied  to  the  cash 
advance  and  purchases’  outstanding  balances.  If  a  payment  is  ever  late  ten  days  or  more,  you  will  be 
charged a late charge equal to 5.00% of the amount of the scheduled payment in default, with a minimum 
charge  of  $.50  and  a  maximum  charge  of  $25.00.  You  agree  a  $30.00  fee  will  be  added  to  your  card 
balance, and such a fee will be treated as a purchase including  FINANCE CHARGES, if a check to pay 
all or part of the card balance is returned unpaid. 

7. Finance Charges. If you have a zero purchase balance at the beginning of a statement cycle, 
you can avoid a FINANCE CHARGE on purchases billed during the cycle by paying the full amount of the 
New Balance of Purchases within 25 days of your statement closing date. Otherwise, purchases will be 
subject  to  a  FINANCE  CHARGE  from  the  date  they  are  posted  to  your  account.  Cash  advances  are 
always subject to a  FINANCE CHARGE from the date they  are posted to  your Account. The  FINANCE 
CHARGE  (interest)  is  calculated  at  the  periodic  rate  of  0.908%  per  month  (ANNUAL  PERCENTAGE 
RATE  of  10.9%),  on  the  average  daily  principal  balances  of  purchases  and  cash  advances  in  the 
Account. Separate FINANCE CHARGES for purchases and cash advances are determined by multiplying 
the periodic rate by the separate average daily balance for purchases and cash advances. Each average 
daily  balance  is determined by taking the  beginning  balance (of cash advances and purchases) in  your 
account each day, adding any new purchases or cash advances (whichever is applicable) and 
subtracting  any  payments  or  credit.  The  results  are  the  daily  balances.  The  daily  balances  are  totaled, 
and  divided  by  the  number  of  days  in  the  statement  period  to  produce  separate  average  daily  principal 
balances for purchases and cash advances to which the periodic rate is then applied. 

8.  Default.  You  will  be  in  default  if  you  fail  to  make any  Minimum  Payment  when  due.  You  will 
also be in default if (a) your ability to repay us is materially reduced by a change in your employment, an 
increase  in  your  obligations,  bankruptcy  or  insolvency  proceedings  involving  you,  your  death  or  your 
failure to abide by this Agreement, (b) you break any promise you have made to us under this Agreement 
or  any  other  agreement  you  have  with  us,  (c)  any  statement  you  have  made  in  this  Agreement,  in 
connection with this Agreement or in connection with any other Agreement you have with us is not true, or 
(d) we should otherwise feel insecure in receiving payment of the Account balance for whatever reason. If 
you are in default, we have the right to demand immediate payment of your full Account Balance at once 
without notice to you. In the event of a default, you agree to pay all costs of collecting the amount you 
owe under this agreement including, if the unpaid balance under this plan is greater than Three Hundred 
Dollars ($300.00) at the time of collection, reasonable attorney fees if the debt is referred for collection to 
an attorney who is not our employee and if suit is filed, court costs. 

9.  Using  the  Card.  You  may  use  your  VISA  Gold  or  MASTERCARD  Gold  card  at  millions  of 
locations  worldwide.  In  addition,  you  may  obtain  cash  advances  from  the  Credit  Union,  from  other 
financial  institutions  participating  in  the  MASTERCARD  and/or  VISA  card  program  and  from  automated 
teller machines (ATMs), such as a VISA ATM Network and MASTERCARD ATM Network, which provide 
access to the individual credit card system. (Not all ATMs provide such access.) You will need to use your 
Personal Identification Number (PIN) to obtain a cash advance from an ATM. The monthly statement will 
identify  the  merchant,  electronic  terminal  or  financial  institution  at  which  transactions  were  made,  but 
sales, cash advances, credit or other slips cannot be returned with the statement. You will retain the copy 
of  such  slips  furnished  at  the  time  of  the  transaction  in  order  to  verify  the  monthly  statement. We  may 
make a reasonable charge for photocopies of slips you request. 

MAX.GCC                                                                               Page 3 of 5                                                             Effective Date 8/2010 

 
10.  Returns  and  Adjustments.  Merchants  and  others  who  honor  the  Card  may  give  credit  for 
returns or adjustments, and they will do so by sending us a credit slip which we will post to your Account. 
If your credits and payments exceed what you owe us, we will hold and apply this credit balance against 
future purchases and cash advances, or if it is $1 or more, refund it on your written request. 

11. Foreign Transactions. Payments, purchases and cash advances made in foreign currencies 
will  be  charged  to  your  account  in  U.S.  dollars.  For  Visa  transactions,  the  exchange  rate  between  the 
transaction  currency  and  the  billing  currency  used  for  processing  international  transactions  is  a  rate 
selected  by  Visa  from  the  range  of  rates  available  in  wholesale  currency  markets  for  the  applicable 
central  processing  date,  which  the  rate  may  vary  from  the  rate  Visa  itself  receives,  or  the  government 
mandated rate in effect for the applicable central processing date, plus the 1% International Transaction 
Fee.  For  MasterCard  transactions,  the  currency  conversion  procedures  includes  the  use  of  either  a 
government – mandated exchange rate, or a wholesale exchange rate selected by MasterCard, and the 
rate MasterCard uses for a particular transaction is a rate selected by MasterCard for applicable currency 
on  the  day  the  transaction  is  processed,  which  may  differ  from  the  rate  applicable  on  the  date  the 
transaction  occurred  or  when  it  is  posted  to  the  cardholder’s  account.  Cardholder  agrees  to  pay  the 
converted amount to the Issuer in U.S. dollars plus a fee of 1% for conversion and processing imposed by 
issuer and MasterCard. 

12.  Plan  Merchant  Disputes.  We  are  not  responsible  for  the  refusal  of  any  plan  merchant  or 
financial  institution  to  honor  your  Card.  We  are  subject  to  claim  and  defenses  (other  than  tort  claims) 
arising out of goods or services you purchase with the Card only if you have made a good faith attempt, 
but have been unable to obtain satisfaction from the plan merchant, and: (a) your purchase was made in 
response to an advertisement we sent or participated in sending you, or (b) your purchase cost more than 
$50  and  was  made  from  a  plan  merchant  in  your  state  or  within  100  miles  of  your  home.  Any  other 
disputes you must resolve directly with the plan merchant. 

13. Security Interest. To secure your Account, you grant us a purchase money security interest 
under the Uniform Commercial Code in any goods you purchase through use of the Card. If you default, 
we will have the right to recover any of these goods which have not been paid for through our application 
of your payments in the manner described in Paragraph 6. 

14. Security Agreement. The payment of the Credit Card Account shall be secured by all of 

my Credit Union accounts, shares and certificates (excluding Individual Retirement Accounts) I now 
have or hereafter may have including all accounts I have a right to withdraw from or an ownership 
interest in. I am giving this interest to secure repayment of my credit card account as well as any other 
amounts I now owe or will owe the Credit Union. I am giving the Credit Union a security interest in all 
present and future shares in my account I have with the Credit Union or in which I have an interest. I 
authorize the Credit Union to take those funds, shares or certificates and apply it to my debt if I am in 
default. The Credit Union may, solely at its option, allow me to withdraw a portion of my shares without 
affecting its security interest. Withdrawals may not be allowed if it will reduce the amount of my shares 
in the Credit Union below the amount of my debt. I am not giving a security interest in an IRA, SEP, 
KEOUGH, or any other account which, if pledged, would result in the loss of special tax treatment 
under the Internal Revenue Code. 

15.  Effect  of  Agreement.  This  Agreement  is  the  contract  which  applies  to  all  transactions  on 
your Account even though the sales, cash advances, credit or other slips you sign or receive may contain 
different  terms. We  may  amend  this  Agreement  from  time  to  time  by  sending  you  any  advance  written 
notice required by law. Any amendment to this Agreement will take effect on the day it is mailed unless 
advance  notice  is  required  by  law.  Your  use  of  the  Card  thereafter  will  indicate  your  agreement  to  the 
amendments. To the extent the law permits, and we indicate in our notice, amendments will apply to your 
existing Account balance as well as to future transactions. 

16. Governing Law. The terms and conditions of this Agreement are governed by and construed 

in accordance with the laws of the State of Alabama and any applicable Federal law. 

17. Delay in Enforcement. No delay in enforcement of our rights under this agreement will result 

in any loss of our rights or relieve you of any of your obligation. 

18. Invalidity of Provisions and Captions. If any provision of this agreement is deemed invalid 
the rest of this Agreement will remain in full force and effect. The paragraph headings are for convenience 
only and do not form a part of this Agreement. 

MAX.GCC                                                                               Page 4 of 5                                                             Effective Date 8/2010 

 
 
MAX Credit Union  
Gold Credit Card 
Billing Rights and Card Agreement 

This  notice  contains  important  information  about  your  rights  and  our  responsibilities  under  the 

YOUR BILLING RIGHTS  

Fair Credit Billing Act. 

NOTIFY  US  IN  CASE  OF  ERRORS  OR  QUESTIONS  ABOUT  YOUR  LOAN  ACCOUNT 
STATEMENT. If you think your statement is wrong, or if you need more information about a transaction 
on your statement, write us on a separate sheet at the address listed  on your statement. Write to us as 
soon as possible. We must hear from you no later than 60 days after we sent you the first statement 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:  •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 loan account automatically from your savings or share draft 
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 statement 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 send statements to 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 
statement that are not in question. 

If  we  find  that  we  made  a  mistake  on  your  statement,  you  will  not  have  to  pay  any  FINANCE 
CHARGES  related  to  any  questioned  amount.  If  we  didn’t  make  a  mistake,  you  may  have  to  pay 
FINANCE 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 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 statement. 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 

statement 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  service.  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 the credit card issuer owns or operates the merchant, or mailed 

you the advertisement for property or services. 

MAX.GCC                                                                               Page 5 of 5                                                             Effective Date 8/2010