626 Jacksonville Road 
Suite 250 
Warminster, PA 18974 
215-612-5900 
Freedomcu.org 

Gold, Classic, Student & Secured Visa® Credit Cards 

In this Agreement the words “you” and “your” mean each and all of those who agree to be 
bound by this Agreement; “Card” means the VISA credit card and any duplicates, renewals, 
or substitutions the Credit Union issues to you; “Account” means your VISA credit card line 
of credit account with the Credit Union, and “Credit Union” means the Credit Union whose 
name appears on this Agreement or anyone to whom the Credit Union transfers this 
Agreement. 

1.  Using Your Account. If you are approved for an Account, the Credit Union will 
establish a line of credit for you and notify you of your credit limit. You agree that 
your credit limit is the maximum amount (purchases, cash advances, finance charges, 
plus “other charges”) that you will have outstanding on your Account at any time. 
Each payment you make to your Account will restore your credit limit by the amount 
of the payment, unless you are over your credit limit. If you are over your credit limit, 
you must pay the amount you are over before payments will begin to restore your 
credit limit. You may request an increase in your credit limit only by a method 
acceptable to the Credit Union. The Credit Union has the right to reduce your credit 
limit, refuse to make an advance and/or terminate your Account at any time for any 
reason not prohibited by law.  

2.  Using the VISA Card. You may use your Card to make purchases from merchants 
and others who accept VISA Cards. In addition, you may obtain cash advances from 
the Credit Union and from other financial institutions that accept VISA Cards, and 
from some automated teller machines (ATMs), such as the VISA ATM Network, that 
accept VISA Cards. (Not all ATMs accept VISA Cards). To obtain cash advances 
from an ATM, you must use the Personal Identification Number (PIN) that is issued to 
you for use with your Card.  

3.  Responsibility. You agree to pay all charges (purchases and cash advances) to your 
Account that are made by you or anyone whom you authorize to use your Account. 

CenterPointe Office Center    626 Jacksonville Road, Suite 250  Warminster, PA 18974-4862    215-612-5900 

 
 
 
 
 
 
 
 
 
 
 
You also agree to pay all finance charges and other charges added to your Account 
under the terms of this Agreement or another agreement you made with the Credit 
Union. If this is a joint Account, Section 18 below also applies to your Account.  

4.  Grace Period. In order to avoid a finance charge on purchases made since your last 

statement date, you must pay the Total New Balance shown on your statement within 
28 days of the statement closing date. Otherwise, the finance charge on purchases is 
calculated from the beginning of the next statement period on previously billed but 
unpaid purchases and on new purchases from the date they are posted to your account. 
Cash advances are always subject to finance charge from the date they are posted to 
your account. Balance transfers and advances (including, but not limited to, those 
through telephone teller, online banking, or automated teller machine) are considered 
cash advances, and therefore subject to finance charges from the date they are posted 
to your account.  

5.  Finance Charges. The finance charge (interest) on purchases and cash advances will 
be calculated at the periodic rate specified in the Additional Disclosure Federal Truth-
In-Lending Act, which you will receive no later than the time of your first advance. 
Separate finance charges for purchases and cash advances are determined by 
multiplying the periodic rate by the separate average daily balances for purchases and 
cash advances. Each average daily balance is determined by taking the beginning 
balance (of cash advance or purchases) in your account each day, adding any new 
purchases or cash advances (whichever is applicable), and subtracting any payments 
or credits. The results are the daily balances. All the daily balances for the statement 
cycle are added and the total is divided by the number of days in the statement cycle to 
arrive at the average daily balance for the cycle.  

6.  Other Charges. The following other charges (fees) will be added to your Account, as 

applicable:  

a.  Late Payment Fee: $20.00 (applied if the required payment is not made by 

the end of the calendar month in which the payment is due).  

b.  Returned Check Fee: $25.00.  

c.  Collection Costs: To the extent permitted by law, you will also be required to 

pay the Credit Union’s collection expenses, including court costs and 
reasonable attorney’s fees.  

7.  Payments. Each month you must pay at least the minimum payment shown on your 
statement by the date specified on the statement or no later than 28 days from the 
statement closing date, whichever is later. If your statement says the payment is “Now 
Due,” your payment is due no later than 28 days from the statement closing date. You 

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may pay more frequently, pay more than the minimum payment or pay the Total New 
Balance in full. If you make extra or larger payments, you are still required to make at 
least the minimum payment each month your Account has a balance (other than a 
credit balance). The minimum payment is 2% of your Total New Balance, or $25.00, 
whichever is greater, plus the amount of any prior minimum payments that you have 
not made, and any amount you are over your credit limit. The Credit Union also has 
the right to demand immediate payment of any amount by which you are over your 
credit limit.  

8.  Payment Allocation. Subject to applicable law, your payments may be applied to 

what you owe the Credit Union in any manner the Credit Union chooses.  

9.  Security Interest. If you give the Credit Union a specific pledge of shares by signing 
a separate pledge of shares, your Account will be secured by your pledged shares. 
Collateral securing other loans you have with the Credit Union may also secure this 
loan, except that your home will never be considered as security for this Account, 
notwithstanding anything to the contrary in any other agreement.  

10. Default. You will be in default if you fail to make any minimum payment or other 
required payment by the date that it is due. You will be in default if you break any 
promise you make under this Agreement. You will be in default if you die, file for 
bankruptcy or become insolvent, that is, unable to pay your obligations when they 
become due. You will be in default if you make any false or misleading statements in 
any credit application or credit update. You will also be in default if something 
happens that the Credit Union believes may substantially reduce your ability to repay 
what you owe.  

11. Liability for Unauthorized Use-Lost/Stolen Card Notification. 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. You can notify the Credit 
Union by calling (215) 612-5900.  

12. Changing or Terminating Your Account. The Credit Union may change the terms 

of this Agreement from time to time. Notice of any change will be given in accordance 
with applicable law. If permitted by law and specified in the notice to you, the change 
will apply to your existing Account balance as well as to future transactions. 

Either you or the Credit Union may terminate this Agreement at any time, but 
termination by you or the Credit Union will not affect your obligation to pay the 
Account balance plus any finance and other charges you owe under this Agreement. 
You are also responsible for all transactions made to your Account after termination, 
unless the transactions were unauthorized. 

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The Card or Cards you receive remain the property of the Credit Union and you must 
recover and surrender to the Credit Union all Cards upon request or upon termination 
of this Agreement whether by you or the Credit Union. The Credit Union has the right 
to require you to pay your full Account balance at any time after your Account is 
terminated, whether it is terminated by you or the Credit Union. If this is a joint 
Account, Section 18 of this agreement also applies to termination of the Account.  

13. Credit Information. You authorize the Credit Union to investigate your credit 

standing when opening or reviewing your Account. You authorize the Credit Union to 
disclose information regarding your Account to credit bureaus and creditors who 
inquire about your credit standing.  

14. Returns and Adjustments. Merchants and others who honor your Card may give 
credit for returns or adjustments, and they will do so by sending the Credit Union a 
credit which will be posted to your Account. If your credits and payments exceed what 
you owe the Credit Union, the amount will be applied against future purchases and 
cash advances. If the credit balance amount is $1 or more, it will be refunded upon 
your written request or automatically pooled to savings by the Credit Union.  

15. Additional Benefits/Card Enhancements. The Credit Union may from time to time 
offer additional services to your Account, such as travel accident insurance, at no 
additional cost to you. You understand that the Credit Union is not obligated to offer 
such services and may withdraw or change them at any time.  

16. Foreign Transactions. Purchases 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 U.S.A. Currently the currency conversion rate used to determine the transaction 
amount in U.S. dollars is either a government-mandated rate or the wholesale rate in 
effect one day prior to the transaction processing date. 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.  

17. Merchant Disputes. The Credit Union is not responsible for the refusal of any 

merchant or financial institution to honor your Card. The Credit Union is subject to 
claims and defenses (other than tort claims) arising out of goods or services you 
purchase with the Card if you have made a good faith attempt but have been unable to 
obtain satisfaction from the merchant or service provider, and (a) your purchase was 
made in response to an advertisement the Credit Union sent or participated in sending 
to you; or (b) your purchase cost more than $50.00 and was made in your state or 
within 100 miles of your home.  

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18. Joint Accounts. If this is a joint Account, each person on the Account must sign the 
Agreement. Each of you will be individually and jointly responsible for paying all 
amounts owed under this Agreement. This means that the Credit Union can require 
any one of you individually to repay the entire amount owed under this Agreement. 
Each of you authorizes the other(s) to make purchases or cash advances individually. 
Any one of you may terminate the Account and the termination will be effective as to 
all of you.  

19. 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.  

20. No Waiver. The Credit Union can delay enforcing any of its rights any number of 

times without losing them.  

21. Statement and Notices. Statements and notices will be mailed to you at the most 

recent address you have given the Credit Union, or sent electronically to your Online 
Banking Account. Notice sent to any one of you will be considered notice to all.  

22. Copy Received. You acknowledge that you have received a copy of this Agreement.  

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: 

•  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 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. 

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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 an 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 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 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 $50.00 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 have 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 $50.00.  

These limitations do not apply if we own or operate the merchant, or if we mailed you the 
advertisement for the property or services. 

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