dOrt FederaL CredIt UnIOn VIsa ® CredIt Card  
terMs and COndItIOns and trUth In LendIng  
dIsCLOsUre stateMent (“agreeMent”)

In this Agreement, the words “you” and “your” refer to the person(s) who are 
contractually liable for any debt owed under the Account. If there are two or more 
such persons, each of them agree to be fully liable for any debt owed under the 
Account individually (severally) and together (jointly). If joint Account, read singular 
pronouns in the plural.

You agree with Credit Union as follows:

Definitions. In relation to your Account and this Agreement, the following words 
shall have the meaning indicated:

“Account” means the Visa Credit Card open end line of credit account approved by 
Credit Union for your use.

“Agreement” means this Visa Borrower Agreement and the items referenced in this 
document.

“Annual Percentage Rate” means the cost of your credit expressed as a yearly 
rate as set forth in the letter accompanying this Agreement when it was provided to 
you.

“Application” means your request to the Credit Union for the establishment of an 
Account in a manner approved by the Credit Union.

“Authorized User” means any person(s) permitted by you to obtain credit under 
your Account, whether or not named in your Application, or any person(s) to whom 
you lend your Card.

“Billing Cycle” means the time period that expires between regular Monthly Billing 
Statements.

“Card” means any Visa Credit Card credit card issued to you by the Credit Union 
pursuant to this Agreement which bears the service marks owned and licensed by 
Visa USA.

“Cash Advance” means cash credit extended by the Credit Union to you in the 
form of a loan of money made when you present the Card to the Credit Union or to 
another participating financial institution, including cash credit extended to you via an 
automated teller machine.

“Closing Date” means the date of the last day of a Billing Cycle.

“Credit Limit” means the maximum amount of credit available to you on your 
Account as set by the Credit Union from time to time. Your initial Credit Limit is set 
forth in the letter accompanying this Agreement when it was provided to you and 
which is incorporated herein.

“Credit Purchases” means extensions of credit from the Credit Union to you 
(other than Cash Advances) for Credit Purchases of merchandise or services through 
participating merchants, including mail, electronic or phone purchase orders of 
merchandise effectuated by using the account number on a Card.

“Credit Union” means Dort Federal Credit Union or any other person or entity 
to which the Credit Union assigns this Agreement or any of its rights under this 
Agreement.

“Finance Charge” means the cost of credit extended to you on your Account as 
determined by the Credit Union expressed as a dollar amount.

“Grace Period” means the time period in which the New Balance on a Monthly 
Billing Statement must be paid in full to avoid the further assessment of a Finance 
Charge. The Grace Period begins on the day following the Closing Date of a Billing 
Cycle and extends until the Payment Due Date.

“Daily Periodic Rate” means the daily periodic rate set forth in the letter 
accompanying this Agreement when it was provided to you.

“Monthly Billing Statement” means the statement sent to you on a monthly basis 
reflecting all charges and credits to your Account for each Billing Cycle.

“New Balance” means the total of the Previous Balance together with New Credit 
Purchases, Cash Advances, accrued Finance Charge and other fees and charges, less 
payments and credits, posted to your Account during a Billing Cycle.

“New Credit Purchase(s)” means the Credit Purchase(s) posted to your Account 
during the Billing Cycle reflected on your most recent Monthly Billing Statement.

“Payment Due Date” means the date specified on your Monthly Billing Statement 
as the Payment Due Date for payment to the Credit Union on your Account.

“Preauthorized Charges” means Credit Purchases for which you have given your 
preauthorization for a merchant or other person to debit your Account at specified 
times.

“Previous Balance” means the balance of your Account at the beginning of a 
Billing Cycle, which is the same amount as that shown on the “New Balance” on your 
Monthly Billing Statement for the immediately preceding Billing Cycle.

“Unauthorized Use” means the use of your Card by a person who does not have 
actual, implied or apparent authority to use that Card. If you receive a benefit from the 
use of a Card by another or if a Card is used by an Authorized User, such use will not 
be regarded as Unauthorized Use.

Account Access. You may access your Account by using your Card or account 
number to make Credit Purchases and to obtain Cash Advances up to your Credit 
Limit, unless your Account is in default or has been terminated. If the Credit Union 
issues you a Personal Identification Number, you may also use your Card to obtain 
Cash Advances via automated teller machines which accepts your Card for that 
purpose.

Promise to Pay. You promise to pay to Credit Union all amounts charged to your 
Account by you or by any Authorized User who has access to your Account, with 
actual, apparent or implied authority for use of your Account, including Finance 
Charges and other fees according to the required minimum monthly payment 
schedule. Your liability will extend throughout the term of this Agreement and until all 
issued and outstanding Cards are returned to the Credit Union and all Preauthorized 
Charges are canceled by you. If you lend your Card to another person, you will have 
given that person actual, implied or apparent authority to use your Card and you will 
be liable for all Credit Purchases and Cash Advances made by that person on your 
Account until the Card is returned to you or the Credit Union. If more than one person 
is obligated under this Agreement, the Credit Union may accept directions and written 
notices from any one of those persons without requiring the consent of any other 
persons.

Liability for Unauthorized Use – If you notice the loss or theft of your credit card or 
a possible unauthorized use of your card, you should write to us immediately at: Dort 
Federal Credit Union, P.O. Box 1635, Flint, Michigan 48501-1635 or call us at (810) 
767-8390 during normal business hours or (800) 543-5073 (which is available 24 hours 
a day). You will not be liable for any unauthorized use that occurs after you notify us. 
You may, however, be liable for unauthorized use that occurs before your notice to us. 
In any case, your liability will not exceed $50.

9048 Holly Road  |  Grand Blanc, MI 48439  |  P.O. Box 1635  |  Flint, MI 48501 office 810.767.8390  |  toll-free 800.521.3796  |  dortonline.orgFinance Charge. The Finance Charges shown on your Monthly Billing Statement 
are figured by multiplying a Daily Periodic Rate (see the letter accompanying this 
Agreement when it was provided to you for this rate and its corresponding Annual 
Percentage Rate) times the Daily Principal Balance of both Credit Purchases and Cash 
Advances as follows:

a.  Cash Advances. A Finance Charge will be imposed on Cash Advances from 

the date charged to your account. Finance Charges will continue to accrue until 
the Closing Date of the Billing Cycle preceding the date on which the entire New 
Balance is paid in full by the Payment Due Date or until the date of payment if 
after the Payment Due Date. The Finance Charge for a Billing Cycle is computed by 
applying the Daily Periodic Rate to the Daily Principal Balance of Cash Advances. 
Each daily principal balance of Cash Advances is determined by adding to the 
outstanding unpaid balance of Cash Advances at the beginning of each day of 
the Billing Cycle any new Cash Advances posted to your Account and subtracting 
any payments as received or credits as posted to your Account, but excluding any 
unpaid Finance Charges and other fees.

b.  Credit Purchases. A Finance Charge will be imposed on Credit Purchases only 
if you elect not to pay the entire New Balance shown on your Monthly Billing 
Statement for the previous Billing Cycle by the Payment Due Date (the time 
between the issuance of your Monthly Billing Statement and the corresponding 
Payment Due Date is the “Grace Period”). If you elect not to pay the entire New 
Balance shown on your previous monthly statement during the Grace Period, a 
Finance Charge will be imposed on the unpaid Daily Principal Balance of such 
Credit Purchases from the previous statement Closing Date and on New Credit 
Purchases from the date of posting to your Account during the current Billing Cycle 
except that if during the previous billing cycle you paid all amounts owing in full 
by the Payment Due Date, then in the current billing cycle you will have a free 
interest period on the amount of the New Balance of Purchases remaining from the 
previous billing cycle that is paid by the Payment Due Date based on our payment 
allocation method. Finance Charges will then continue to accrue until the Closing 
Date of the Billing Cycle preceding the date on which the entire New Balance 
is paid in full by the Payment Due Date or until the date of payment if after the 
Payment Due Date. The Finance Charge for a Billing Cycle is computed by applying 
the daily Periodic Rate to the Daily Principal Balance of Credit Purchases. Each daily 
principal balance of Credit Purchases is determined by adding to the outstanding 
unpaid balance of Credit Purchases at the beginning of each day of the Billing Cycle 
any New Credit Purchases posted to your Account, and subtracting any payments 
as received and credits as posted to your Account, but excluding any unpaid 
Finance Charges and other fees.

Late Charge. If you do not pay at least your minimum monthly payment by the 
Payment Due Date shown on your Monthly Billing Statement, Credit Union may 
assess your Account a Late Charge of $25.00 or the amount of your required minimum 
monthly payment, whichever is less.

Returned Payment Charge. You will be charged a Returned Payment Charge for 
each check, draft or order which you submit to Credit Union as a payment on your 
Account which is returned to Credit Union unpaid in the amount of $20.00 or the 
amount of the required Minimum Payment due immediately prior to the date on 
which the payment is returned, whichever is less.

International Transaction Fee. International Transaction Fee: Your account may 
be charged, and you agree to pay, a 1% INTERNATIONAL TRANSACTION FEE on all 
transactions where the merchant country differs from the country of the card issuer 
(that is, for any transaction outside of the United States). The converted transaction 
amount will be shown separately from the International Transaction Fee on your 
billing statement. This fee will be assessed on all international purchases, credit 
vouchers, and cash disbursements.

Information Updates. You will provide facts to update information contained in 
your original Application or other financial information related to you at Credit Union’s 
request.

Credit Limit. You will be notified of your Account’s Credit Limit which will be 
applicable to all amounts you owe on your Account at any time. Credit Union reserves 
the right to increase or decrease your Credit Limit without prior notice to you at any 
time in its sole discretion. You will keep your unpaid balance within the Credit Limit as 
set by Credit Union and you will pay any amount over your Credit Limit immediately to 
the Credit Union without demand, whether or not Credit Union authorized the Credit 
Purchase or Cash Advance which caused you to exceed your Credit Limit. However, 
if you are over your Credit Limit solely because the Credit Union reduced it, you may 
continue to make only required minimum monthly payments as described in this 
Agreement as long as you do not use your card until what you owe is reduced below 
your Credit Limit. Even if your unpaid balance is less than your Credit Limit, the Credit 
Union may choose to not make credit available during any time your Account is in 
default.

Minimum Monthly Payment. You will pay a minimum monthly payment equal 
to the greater of 2.50% rounded up to the next whole dollar of your Account’s New 
Balance or $25.00, unless your New Balance is less than $25.00, in which case your 
payment will be that balance. You may pay any amount over your minimum monthly 
payment at any time without penalty. In addition to your minimum monthly payment, 
you agree to immediately pay to the Credit Union any amount past due or in excess 
of your Credit Limit. Payments must be received by the Credit Union in the manner set 
forth on your most current Monthly Billing Statement on or before the Payment Due 
Date. All payments must be made in lawful money of the United States. You will have 
a payment due every month on the specified Payment Due Date even if you have paid 
more than a regularly scheduled minimum monthly payment at any previous time.

Monthly Billing Statements. Credit Union will mail you a Monthly Billing 
Statement each month in which there is a debit or credit balance over $1.00, or 
when a Finance Charge is imposed. Credit Union need not send you a monthly 
statement if Credit Union feels your Account is uncollectible or has started collection 
proceedings against you because you defaulted. Except where federal law requires 
otherwise, the Monthly Billing Statement will be final as to the amount owed unless 
you object in writing within 60 days after the Credit Union has mailed the Monthly 
Billing Statement to you. Your right under federal law to the correction of billing 
errors is explained in the notice of Your Billing Rights which appears at the end of this 
Agreement.

Security. If you have given the Credit Union a security interest in any property (other 
than a dwelling or “household goods” as defined in the Federal Trade Commission’s 
Credit Practices Rule) as part of any other agreement with the Credit Union, that 
property is also pledged by you as security for the credit extended under this 
Agreement, unless prohibited by law. This provision is the Security section under 
the Truth in Lending disclosure of this Agreement as well as a statement of contract 
which results in collateral securing other loans with Credit Union also securing this 
Agreement. To the extent permitted by law, you grant Credit Union a purchase money 
security interest in all goods you purchase under your Account to the extent you 
continue to owe Credit Union for the purchase of such goods under your Account 
if such goods are “household goods”, and to the extent you continue to owe Credit 
Union any money under your Account if such goods are not “household goods”. 
Further, if you give Credit Union a specific pledge of other collateral to secure the 
repayment of your Account, such as a pledge of your shares or deposits, then such 
other collateral will also secure the repayment of your Account. You acknowledge and 
agree that any specified pledge of shares that you provide while a covered borrower 
under the Military Lending Act will only apply to shares or deposits placed into an 
account opened in connection with your Account.

9048 Holly Road  |  Grand Blanc, MI 48439  |  P.O. Box 1635  |  Flint, MI 48501 office 810.767.8390  |  toll-free 800.521.3796  |  dortonline.orgApplication of Payments. The Credit Union reserves the right to apply the 
payments to your Account in any manner it may choose in its sole discretion. 
Generally, the Credit Union will elect to apply each payment in the following  
order: (1) Late fees; (2) other unpaid fees and charges; (3) unpaid Finance Charges; 
(4) Credit Purchases from previous Billing Cycles; (5) Credit Purchases from this 
Billing Cycle (6) Cash Advances as of the closing date of the last statement and 
(7) Cash Advances from this Billing Cycle. 

Default and Remedy. You will be in default and the Credit Union may, to the extent 
permitted by law, terminate your Account and declare the entire unpaid balance of 
your Account immediately due and payable if: 

a. You do not make any payment or perform any obligation under this Agreement 

or any other agreement that you have with Credit Union; or 

b. You have made a false or misleading statement on your Application and/or in 

your representations to Credit Union while you owe money on your Account; or 

c. You should die, or be involved in any bankruptcy, insolvency, receivership or 

custodial proceedings brought by or against you; or 

d. A judgment or tax lien should be filed against you or any attachment or 

garnishment should be issued against any of your property or rights, specifically 
including anyone starting an action or proceeding to seize any of your funds on 
deposit with Credit Union; and/or 

e. Credit Union should, in good faith, believe your ability to repay any 

indebtedness due under your Account is or soon will be impaired, time being of 
the very essence. 

If more than one person is obligated under this Agreement, the Credit Union may 
proceed with collection action against any one of the persons obligated under this 
Agreement without first proceeding against or collecting from any other person. To 
the extent permitted by law, the Credit Union shall be reimbursed by you for all of 
its costs and expenses, including actual attorneys’ fees, incurred in the course of 
collecting any amounts owed on your Account. 

Change of Address. You will notify Credit Union promptly if you move or otherwise 
have a change of address. 

Foreign Transactions. Transactions occurring outside of the United States under 
foreign currency rates will be posted to your Account inU.S. Dollars and may be 
more or less than theU.S. Dollar amount when you made the Credit Purchase or 
obtained the Cash Advance, due to changes in the foreign exchange rate. The 
conversion rate to U.S. Dollars will be at the (i) wholesale market rate, or (ii) the 
government mandated rate, whichever is applicable, in effect one day prior to the 
processing date. 

Refunds and Returns. If a merchant or other person honoring your Card agrees 
to give you a refund or adjustment on a Credit Purchase, you agree to accept a 
credit to your Account in lieu of a cash refund or cash adjustment. 

Disputes. You agree to make a good faith effort to settle all disputes concerning 
Credit Purchases made through the use of your Card with the merchant or other 
person honoring the Card. Except as provided in the notice of Your Billing Rights, 
you agree to pay the Credit Union all amounts charged to your Account despite 
any such dispute. 

Waiver of Claims. You waive and release Credit Union from all defenses, rights 
and claims you may have against any person or company honoring a Card or other 
access device or not permitting a Credit Purchase or Cash Advance, except where 
such rights cannot be waived under the Fair Credit Billing Act (see Your Billing 
Rights). If your Account is available to provide overdraft protection to a deposit 
account under a separate Overdraft Protection Request Agreement, you hold Credit 
Union harmless from any and all claims which might otherwise arise if an advance 
is not processed to cover an overdraft regardless of whether or not credit was 
available under your Account. 

Cancellation. You may cancel this Agreement with Credit Union or revoke any 
Authorized User’s status at any time by notifying Credit Union in writing. You 
understand and agree that Credit Union has up to ten (10) days after such notice 
to effectuate your cancellation or revocation of Authorized User’s status. You 
remain obligated to Credit Union for all Credit Purchases or Cash Advances that 
the Credit Union is unable to prevent made prior to or up to thirty (30) days after 
such cancellation or revocation if you have not returned all affected Cards, and 
Credit Union may declare your balance due and payable together with all applicable 
Finance Charges and other fees and charges; otherwise you remain obligated to 
repay any unpaid balance according to this Agreement. 

Amendment. Credit Union may change the terms of this Agreement by mailing or 
delivering to you written notice of the changes as prescribed by the Federal Truth  
in Lending Act or other applicable law. 

Delay in Enforcement. The Credit Union does not lose any of its rights under 
this Agreement if it delays enforcing them. 

Effect of Unenforceable Provision. If any provision of this Agreement is 
determined to be unenforceable or invalid, all other provisions shall remain in 
full force and effect. 

Provision Captions. The captions and catch lines used in this Agreement are for 
convenience of reference only and in no way define, limit or describe the scope or 
intent of any provision of this Agreement. 

Applicability. This Agreement applies to your Visa Credit Card Account with the 
Credit Union. 

Assignability. You shall have no right to transfer your Account or to assign this 
Agreement. The Credit Union, however, shall have the right to assign and transfer, 
at any time and in its sole discretion, this Agreement or any or all of its rights 
under this Agreement to any other person or entity. 

Ownership of Card(s). Any Card(s) issued in relation to your Account is the 
property of the Credit Union and upon demand of Credit Union, you will surrender 
it to Credit Union or its authorized agent or destroy it by cutting it in half. 

Skip Payment. At Credit Union’s option, you may be permitted to skip a minimum 
monthly payment for one or more months. A fee will be charged for each skip. 
Finance Charges will continue to accrue on your unpaid balance at all times. 
After the skip, your next minimum monthly payment will be calculated accordingly 
to this Agreement. 

Governing Law. Except to the extent that federal law controls, this Agreement is 
controlled by the laws of the State of Michigan. 

9048 Holly Road  |  Grand Blanc, MI 48439  |  P. O. Box 1635  |  Flint, MI 48501 
office 810.767.8390  |  toll-free 800.521.3796  |  dortonline.org 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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:  
Dort Federal Credit Union
P. O. Box 1635
Flint, Michigan 48501-1635

You may also contact us on the Web: www.dortonline.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. 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.

What WILL haPPen aFter We  
reCeIVe YOUr Letter

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:
•  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.)

•  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.

•   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: 

Dort Federal Credit Union
P.O. Box 1635
Flint, Michigan 48501-1635

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.

9048 Holly Road  |  Grand Blanc, MI 48439  |  P.O. Box 1635  |  Flint, MI 48501 office 810.767.8390  |  toll-free 800.521.3796  |  dortonline.orgDORT FEDERAL CREDIT UNION 
CREDIT CARD ACCOUNT OPENING DISCLOSURES 

INTEREST RATES AND INTEREST CHARGES 

Annual Percentage Rate 
(APR) for Purchases 

  9.5% to 18.0% based on your creditworthiness 

APR for Balance Transfers 

  9.5% to 18.0% based on your creditworthiness 

APR for Cash Advances 

  9.5% to 18.0% based on your creditworthiness 

How to Avoid Paying Interest 
on  Purchases 

Your due date is at least 26 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.  We will begin charging interest on cash advances 
and balance transfers on the transaction date. 

For Credit Card tips from the 
Consumer Financial Protection 
Bureau 

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 

FEES 

Annual Fee 

Transaction  Fees 
Foreign Transaction 

Penalty Fees 
Late Payment 
Returned Payment 

None 

     1% 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).” 
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. 

9048 Holly Road | Grand Blanc, MI 48439 | P. O. Box 1635 | Flint, MI 48501 
office  810.767.8390 | toll-free 800.521.3796 | dortonline.org