Open an Account

 Sign In

Tools & Resources

About Us
Contact Us
Financial Library

Savings & Checking Loans Business

Visa

Home Loans

Visa Credit & Debit Card Disclosures

 Electronic Correspondence Disclosure & Agreement

 Electronic Fund Transfer Agreement and Disclosure

 Fee Schedule

 Travel Accident Insurance

 Visa Credit Card Agreement & Truth-in-Lending Disclosure

In this agreement (called the “Agreement”), the words “you” and “your” mean or refer to each
and all persons who have applied for the Card or Cards. “Card” means the Visa Credit Card or
Cards, any duplicates and renewals thereof, or substitutions therefore we may issue. “Account”
means your Visa Credit Card line-of-credit loan account with us. “We,” “us” and “ours” means
or refers to this credit union. This Agreement is also a Truth-in-Lending Disclosure Statement.

1.    Responsibility - By activating and using your Visa Credit Card line-of-credit loan, you agree
to be bound by the terms and conditions of this agreement. You promise to repay all debts and
the FINANCE CHARGE thereon arising from any authorized use of the Card. You agree not to
let someone else use the Card. If you do, you are agreeing with us that you authorize all use
that person makes of the Card. Therefore, you will be liable for all such use of the Card. Of
course, once you notify us we will take prompt steps to try to prevent any further Card use by
that person. If your application is signed by two persons, the Account is joint; that is, each of
you, separately and jointly with each other, are liable for all debts on the Account and
FINANCE CHARGE thereon.  Your obligation to pay all such debts and FINANCE CHARGE
thereon continues even though an agreement, divorce decree or other court judgment to which
we are not a party may direct that only one of you, or some person other than you (or both of
you), must pay such debts and FINANCE CHARGE. 

2.    Credit Line - We have established a self-replenishing line-of-credit for you and have
notified you of the amount thereof (“credit limit”) by letter. That letter is hereby incorporated
herein as part of this Agreement. You agree not to let your Account balance exceed such
amount. Each payment you make on the Account will replenish your credit limit by the part of
that payment which is applied to principal. If you have not used your Visa Credit Card line-of-
credit loan for eighteen (18) months we reserve the right to not reissue your Visa Credit
Card(s) as of the expiration date and to cancel your line-of-credit. If you have not activated
your Visa Credit Card(s) we reserve the right to not reissue your Visa Credit Card(s) as of the
expiration date. We may reduce your credit limit from time to time, change the rate in
accordance with the conditions of the cardholder information section of the agreement, or may,
with good cause, revoke your Card and terminate this Agreement; in any event, we will give
you written notice of such action. “Good cause” includes your failure to satisfy the terms of this
Agreement, or our adverse reevaluation of your creditworthiness. However, you may terminate
this Agreement, at any time and for any reason, by giving us written notice. Nevertheless,
termination by you or by us does not affect your obligation to pay all debts and FINANCE
CHARGES thereon arising from authorized use of your Card. 

The Cards remain our property and you must recover and surrender to us all Cards upon our
request or upon termination of this Agreement. 

3.    Using the Card - As soon as received, each Card must be signed (in the space provided
on the back) by the person whose name appears on the front of the Card. That signature must
be in the same form as appears on the front of the Card. To make a purchase or cash advance
there are several alternative procedures to be followed. One is for you to present the Card to a
participating Visa-plan merchant or financial institution, or to us, and sign the sales draft or
cash advance which will be imprinted with your Card. Another is to complete the transaction by
using your Personal Identification Number (PIN) in conjunction with the Card, in accordance
with the instructions given to you by an Automated Teller Machine (ATM), or other type of
electronic terminal that provides access to the Visa system, by a participating Visa-plan
merchant, by us, or another financial institution. Cash advances can also be made by
telephone or mail request. Please note that we are not responsible if a particular Visa-plan
merchant or financial institution refuses to honor your Card. You will receive a copy of the draft
which you should retain to verify your monthly statement. You agree not to make or permit to
be made any illegal transactions on your Account through the use of a Card, a check or in any
other manner. We may deny authorization for any Internet gambling transaction. 

4.    Finance Charges - 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 most recent monthly
statement on or before the "Payment Due Date" shown on that statement (which will not be
less than 25 days from the "Statement Date"). Otherwise the finance charge on purchases is
calculated on the next statement period on previously billed but unpaid purchases and on new

 
 
 
 
 
purchases from the date they are posted to your account. Balance transfers and cash
advances are always subject to a finance charge from the date they are posted to your
account. The FINANCE CHARGE (interest) on purchases and cash advances is calculated at
the Daily Periodic Rate. The ANNUAL PERCENTAGE RATE (APR) on purchases, balance
transfers and cash advances is between 8.9% (0.02438% Daily Periodic Rate) and 17.9%
(0.04904% Daily Periodic Rate); the APR you receive is determined based on your
creditworthiness, and we have notified you of your APR in the Visa Account-Opening Credit
Disclosures. Balance transfers receive 0% APR for the first six (6) months from the date the
Visa Credit Card account was opened. Introductory balance transfer APR applies only to
balance transfers from another financial institution's credit card. After six (6) months, rate will
revert to your standard rate (between 8.9% and 17.9%). Separate finance charges for
purchases, balance transfers and cash advances are determined by multiplying the Daily
Periodic Rate by the separate average daily balances for purchases, balance transfers and
cash advances by the number of days in the statement period. Each average daily balance is
determined by taking the beginning balance (of purchases, balance transfers or cash
advances) in your account each day, adding any new purchases, balance transfers 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 period are added and the total is
divided by the number of days in the statement period to arrive at the average daily balances
for the period. 

5.    Monthly Payment - Each month you must pay at least the minimum payment shown on
your statement by the statement due date. You may, of course, pay more frequently, pay more
than the minimum payment, or pay the Total New Balance in full. If you make extra payments
or larger payments, you are still required to make at least the minimum payment each month
your account has a balance. The minimum payment is 2% of your Total New Balance but not
less than $15.00, plus the amount of any prior minimum payments that you have not paid. In
addition, at any time your Total New Balance exceeds your credit limit, you must immediately
pay the excess upon demand. If your account becomes delinquent 60 days the penalty
ANNUAL PERCENTAGE RATE of 17.90% (0.04904% Daily Periodic Rate) will apply. Once
imposed, the penalty Annual Percentage Rate will apply until you make six consecutive
minimum payments when due. WARNING MINIMUM PAYMENT: Making only the minimum
payment will increase the amount of interest you pay and the time it takes to repay your
balance. You may call us toll-free at (800) MSU-4-YOU or (800) 678-4968 to receive
information about accessing credit counseling and debt management services. 

6.    Other Charges - 
    i. Late Payment Fee: You may be assessed and agree to pay us a late payment fee for any
payment received seven (7) or more days past the payment due date as indicated on your
statement. The late payment fee is $25 if the minimum payment due is $25 or more; $15 if the
minimum payment due is $15 to $24.99; or $0 if the minimum payment due is less than $15. 
    ii. Returned Convenience Check: If we do not pay a draft written against your account, we
will assess and you agree to pay a charge of $25.00 for each such returned draft. 

7.    Currency Conversion - When you use your Visa Credit Card at a merchant that settles in,
or at an ATM that dispenses, currency other than U.S. dollars, the charge will be converted into
the U.S. dollar amount. The currency conversion rate used to determine the transaction
amount in U.S. dollars is either a wholesale market rate or the government mandated rate in
effect the day before the processing date. The conversion rate in effect on the processing date
may differ from the rate in effect on the transaction date or posting date. Your account will be
assessed, and you agree to pay, a 1.00% International Transaction Fee for ATM transactions
and a 3.00% International Transaction Fee for "all other" international transactions and cash
advances, which fee will be calculated after the transaction has been converted to U.S. dollars. 

8.    Credits - If merchants who honor your Card give you a credit for returns or adjustments,
they will do so by posting a credit to your Account. You should keep your copy of the credit slip
to verify your monthly statement. If your credits and payments exceed what you owe us on the
Account, we will credit such excess to your savings account or we will refund it upon request. 

9 .    Security Interest - 
i.    Shares as Security. To secure performances of your obligations under this Agreement, you
hereby grant to MSUFCU a security of interest in funds you may have on deposit with
MSUFCU from time to time and in any other money MSUFCU may owe you. You understand
and intend that by reason of such security interest here granted MSUFCU may satisfy your
indebtedness under this Agreement by charging your deposit account(s) maintained with
MSUFCU if you default in payment under this Agreement, without further notice to you. If a
specific dollar amount has been pledged, MSUFCU will freeze shares in that account to the
extent of the specified pledge. Otherwise, your shares may be withdrawn unless you are in
default. This security interest does not apply to any Individual Retirement Account or any other
account that would lose special tax treatment under state or federal law if given as security. 
ii.    Cross Collateral. Any collateral securing other loans with the credit union, except loans
secured by real property used as your principal dwelling or property used for personal, family
or household purposes, will also secure advances made under this agreement. 

10.    Loss or Theft of Card - You agree to notify us immediately upon discovering that your
Card has been lost or stolen. 

11.    Default - The Minimum Payment shown on the statement is due by the date shown on the
statement. You will be in default if you fail to make the Minimum Payment within 7 days after
the statement due date. You will also be in default if (a) you breach any other conditions of the
Agreement, (b) if we determine that your creditworthiness (which includes your ability to repay
us) has become unsatisfactory due to change in employment, increase in your other
obligations, or because of any other reason, or (c) in the event of your death. In the event of
any default, the entire balance on the Account becomes due and payable forthwith. You also
agree that, in case of default, you will pay all usual and customary costs of collection, including
reasonable attorney's fees, permitted by law. 

12.    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
our experience with you under this Agreement to credit bureaus and other creditors. 

13.    Effect of Agreement - This Agreement contains our complete contract relating to the
Account and applies to every transaction relating to the Account even though a sales, balance
transfer or cash advance draft you sign or a credit slip may contain different terms. 

14.    Amendment of Agreement - From time to time, we may amend this Agreement by giving
you written notice of the amendment at least 45 days before it goes into effect, unless a shorter
notice period is permitted by law. The notice will be sent to your last known address appearing
in our records when it is sent, and will state the date upon which the amendment will become

 
 
 
 
 
 
 
 
 
 
effective. Except where prohibited by law, all such changes will apply to new transactions and
to amounts you already owe, unless you provide notice of your election to terminate the
account and surrender your card(s) on or before the effective date of the changes, in which
case you will be entitled to repay your balance in accordance with the terms and conditions in
effect at that time. We may also offer you a repayment method that includes: (a) an
amortization period of not less than five years or (b) a required minimum periodic payment that
includes a percentage of the outstanding balance that is not more than twice the percentage
required before the effective date of the amendment. 

15.    Cash Advance by Machine - If automated teller machines or other electronic devices are
available while this Agreement remains in effect which make it possible for you to obtain a cash
advance by use of your Card in such a machine, we will furnish you with a secret personal
identification number. Your use of that number, together with your Card, in getting a cash
advance from such a machine is agreed to constitute your signature for purposes of such cash
advance. Minimum amount of cash advance is $50.00. 

16.    Record Keeping - You have agreed that we may keep the application which bears your
signature so that we can comply with federal and/or state law relating to loan documents we
are required to keep in our files. 

17.    Liability for Unauthorized Use - 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 MSUFCU, orally or
in writing, of the loss, theft or possible unauthorized use. You will have no liability for any
unauthorized use of your card, unless you were grossly negligent or fraudulent in handling the
Card. 

YOUR BILLING RIGHTS:  Keep This Document for Future Use 
This notice informs you about your rights and 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: 
    MSU Federal Credit Union 
    C/O Visa Department 
    PO Box 1208 
    East Lansing, MI 48826-1208 
You may also contact us online: www.msufcu.org 

In your letter, give us the following information: 
• Account Information: Your name and account number   
• Dollar Amount: The dollar amount of the suspected error 
• Description of 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: 
• Within 60 days after the error appeared on your statement. 
• At least 3 business days before an automated 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 by mail or electronically. If you call us, we
are not required to investigate any potential errors and you may be required to pay the amount
in question. 

What Will Happen After We Receive Your Letter 

When we receive your letter, we must do two things: 
1. Within 30 days after receiving your letter, we must tell you that we received your letter. We
will also tell you if we have already corrected the error. 
2. 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 $50.00 of the amount
in 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. (Note: Neither of
these are necessary 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 or electronically at: 
    MSU Federal Credit Union 
    C/O Visa Department 
    PO Box 1208 
    East Lansing, MI 48826-1208 
    www.msufcu.org 

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. 

The information about the costs of the card described in this disclosure is accurate as of July 1,
2014. This information may have changed after that date. To find out what may have changed,
write to us at PO Box 1208, East Lansing, MI  48826-1208 or visit www.msufcu.org.

Interest Rates and Interest Charges

Annual Percentage Rate (APR) for
Purchases

APRs for Balance Transfers

8.9% - 17.9% based on your

creditworthiness

0% introductory APR for six (6) months from
date of account opening. Rate then reverts to
standard rate (8.9% to 17.9%), based on
your creditworthiness. 

APRs for Cash Advances 

8.9% - 17.9% based on your creditworthiness

Penalty APR and When It Applies 

How to Avoid Paying Interest 
on Purchases

For Credit Card Tips from the Consumer
Financial Protection Bureau

Fees 

Transaction Fees

International transaction and cash
advance fees

Penalty Fees

Late Payment

17.9%  The Penalty APR is applied if your
account becomes delinquent 60
days. How Long Will the Penalty Rate
Apply? The Penalty Annual Percentage Rate
will apply indefinitely.

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.

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
www.consumerfinance.gov/learnmore.

1% for ATM transactions 
3% for all other transactions calculated after
the transaction has been converted to U.S.
dollars

$25 if the minimum payment due is $25 or
more;

$15 if the minimum payment due is $15 to
$24.99; or

$0 if the minimum payment due is less than
$15.

Other Fees 

Returned Convenience Check

$25 

How We Will Calculate Your Balance: We use a method called “average daily balance
(including new purchases)." 

Loss of Introductory APR: We may end your introductory APR and apply the Penalty APR if
your account becomes delinquent 60 days. 

Billing Rights: Information on your rights to dispute transactions and how to exercise those
rights is provided in your account agreement.

Revised 07/14

 Visa Debit Card Agreement

 Privacy Policy

 USA Patriot Act

 Platinum Plus Visa Cash Back Disclosure

 Visa Gift Card Disclosure

 Platinum Visa for Teens: Parent/Legal Guardian Agreement

 MyDesignSM Image Guidelines and Terms & Conditions

 Reloadable Prepaid Visa Debit Card Disclosure

 Merchant Surcharge Fees

 MSUFCU Visa Periodic Disclosure

 Auto Rental Collision Damage Waiver

 MSUFCU Affinity Credit Card Agreement with Michigan State University

 DocuSign Disclosure

 
 
 
 
 
Connect with us!

Like us on Facebook

Like

Share

15K people like this. Sign Up to see
what your friends like.

TOP

 Live Chat

 Contact Us

517-333-2424 

800-678-4968

 Visit a Branch

 Find an ATM

Disclosures

Privacy Policy

Site Map

Copyright © 2017 MSU Federal Credit Union. All Rights Reserved.

MSU Federal Credit Union savings are Federally insured to at least $250,000 by
the NCUA and backed by the full faith and credit of the United States
Government. APR = Annual Percentage Rate. APY = Annual Percentage Yield.
View our Privacy Policy and read our disclaimer regarding links to other
sites.