CREDIT CARD AGREEMENT 
AND ACCOUNT OPENING 
DISCLOSURES

plan merchant. We may limit the dollar amount and/or the number 
of  transactions  which  may  be  approved  in  one  day.  If  we  detect 
unusual or suspicious activity on your account, we may temporarily 
suspend your credit privileges until we can verify the activity. We 
may approve transactions which cause the balance to exceed your 
credit line without waiving any of our rights to this Agreement.

19. SECURITY INTEREST: Except for real estate loans, collateral 
securing  other  loans  with  SECU  may  also  be  used  to  secure  this 
VISA  account.  If  you  have  any  other  loans  from  SECU,  or  take 
out other loans with SECU in the future, collateral securing those 
other loans will also secure the obligations under this Agreement. 
However,  unless  you  expressly  agree  otherwise,  your  household 
goods  and  dwelling  will  not  secure  your  obligations  under  this 
Agreement even if SECU has or later acquires a security interest in 
the household goods or a mortgage on the dwelling.

You  have  given  a  Consensual  Security  Interest 
incorporated  by  reference  herein,  in  your  SECU 
Savings  or  Money  Manager  account,  as  security  for 
any  advances  to  you  or  on  your  behalf  on  any  SECU 
VISA Credit Card, excepting those accounts that have 
an adverse tax consequence.

20. CASH ADVANCES: Cash advances can be obtained through 
an ATM, convenience checks, SECU branches and other financial 
institutions.  Upon  your  written  direction  or  through  SECU’s 
website,  cash  advances  may  be  made  against  your  VISA  account 
and applied to any of your SECU share accounts, or other accounts 
in the same manner as if the cash advance were paid to you. Deposit 
of the cash advance to any of your SECU accounts obligates you to 
the repayment of the cash advance per this Agreement.

21. BALANCE TRANSFER(S): Balance Transfers are treated as 
a  cash  advance.  Finance  charges  for  balance  transfers  will  begin 
to accrue from date of the transaction and continue to accrue until 
payment in full is credited to your account. Total value of transfer 
request(s)  cannot  exceed  credit  line  and/or  credit  availability 
whichever  is  less.  SECU  sends  either  full  or  partial  payment  to 
your  creditors  in  the  order  you  list  them.  Allow  at  least  2  weeks 
from request date for processing of the balance transfer. Continue 
paying each creditor until the transfer appears as a credit. Do not 
transfer  any  disputed  purchase  or  charge  because  you  may  lose 
dispute right.

22. EFFECT OF AGREEMENT: This agreement is the contract 
that  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 the advance written notice required by Federal 
and State law. Your use of the card after the effective date of the 
amendment will indicate your agreement to the amendment.

23.  GOVERNING  LAW:  This  agreement  is  governed  by  the 
Annotated Code of Maryland, Financial Institutions Article, Title 
6 and the Annotated Code of Maryland, Commercial Law Article, 
Title 12, Subtitle 9 and applicable federal law or regulation.

24. VISA STATEMENTS AND NOTICES: On a regular basis, you 
will receive a statement showing all transactions for this account 
during the period covered by the statement. Statements and notices 
will  be  mailed  to  you  at  the  most  recent  address  you  have  given 
SECU in writing. Notice to any one of you will be notice to all.

25.  UPDATING  INFORMATION:  You  promise  that  you  will 
promptly give us written notice if you move, change your name or 
employment, or if any other information you provide to us changes. 
You also agree to provide SECU with updated financial information 
about yourself upon request. 

26. COPY RECEIVED: By signing, using or accepting the SECU 
VISA card, you acknowledge receipt of this Agreement and agree 
to terms herein.

27. STOP PAYMENT: If before a Balance Transfer or Convenience 
Check drawn on your Account has been honored, you notify us not 
to pay it, we will stop payment on the check. You must send us a 
written and signed stop payment order which states the number, 
payee,  amount,  and  date  of  the  check  on  which  payment  is  to  be 

stopped.  We  may  disregard  any  such  order  six  months  after  our 
receipt unless you renew it in writing.

within your home state, within 100 miles of your current mailing 
address; and

b. The purchase must have been more than $50.

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

BUSINESS DAYS/HOURS

Business days are Monday through Friday from 8:00 a.m. to 6:00 
p.m. and Saturday from 9:00 am to 1:00 pm.

TYPES  OF  AVAILABLE  TRANSFERS  AND  LIMITS  ON 
TRANSFERS

You may use your card to:

a. Pay for purchases at places that agreed to accept the card.

b.  Obtain cash advances from our ATMs or at any ATM displaying 

the VISA logo in conjunction with your PIN.

c.  Obtain  cash  advances  from  any  financial  institution  that  has 
agreed to accept the card. There is no limitation on the frequency 
of cash withdrawals you may make from our ATMs except that:

a.  You may not make any cash withdrawals that would result in an 
outstanding account balance in excess of your credit limit; and

b.  You may only make a total of $300 in cash advance withdrawals 

per day with a minimum of $10.00.

CIRCUMSTANCES IN WHICH WE WILL DISCLOSE
ACCOUNT INFORMATION TO THIRD PARTIES

We will disclose information to third parties about your account or 
transfers that you make:

a. When it is necessary for completing transfers, or

b.  To verify the existence and condition of your account for a third 

party, such as a credit bureau or merchant, or

c. To comply with government agency or court orders, or

d. If you give us your written permission.

YOUR RIGHTS TO RECEIVE DOCUMENTATION OF
TRANSACTIONS

a.  You  can  get  a  receipt  at  the  time  you  make  any  cash  advance 

using one of our automated teller machines.

b.  You  will  get  a  monthly  account  statement  unless  there  are  no 
transactions in that particular month and your balance is zero.

c.  You  may  also  receive  a  statement  if  there  is  an  amendment  to 

terms.

28.  CLOSING  YOUR  ACCOUNT:  You  can  cancel  or  close  your 
Account by writing to us at SECU, 971 Corporate Blvd., Linthicum, 
MD 21090. Your notice becomes effective within five days after we 
receive it. If you cancel your Account, you must pay everything you 
owe  us,  including  any  amounts  owed  but  not  yet  billed  to  you  if 
you wish to avoid paying a FINANCE CHARGE on the outstanding 
balance.  If  you  do  not  pay  us  immediately,  outstanding  balances 
will  continue  to  accrue  FINANCE  CHARGES  and  other  charges 
and be subject to the terms and conditions of this Agreement. You 
also agree to return your card(s) and any unused Transfer and/or 
Convenience Checks to us.

YOUR BILLING RIGHTS KEEP THIS NOTICE FOR FUTURE 
USE

This notice contains important information about your rights and 
responsibilities under the Fair Credit Billing Act.

NOTIFY US IN CASE OF ERRORS OR QUESTIONS ABOUT 
YOUR STATEMENT

If  you  think  your  VISA  statement  is  wrong,  or  if  you  need  more 
information  about  a  transaction  on  your  statement,  write  us  on 
a  separate  sheet  at  SECU,  971  Corporate  Blvd.,  Linthicum,  MD 
21090. 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  at  410-487-
7328  (Baltimore  Metro  Area)  or  (Toll  Free)  1-800-879-7328,  but 
doing  so  will  not  preserve  your  rights.  In  your  letter,  give  us  the 
following information:

1. Your name and account number.

2. The dollar amount of the suspected error.

3.  Describe the error and explain, if you can, why you believe there 
is  an  error.  If  you  need  more  information,  describe  the  item  in 
question.

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 and we cannot 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  the  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 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 
(10) days telling us that you still refuse to pay, we must tell anyone 
we report you to that you have a question about your account. We 
must tell you the name of anyone we reported you to, and we must 
tell  anyone  we  reported  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 RULES FOR CREDITCARD PURCHASES

If you have a problem with the quality of property or services that 
you  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 property or 
services.

There are two limitations on this right:

a.  You must have made the purchase in your home state or, if not 

DD9109 (11/10)

Interest Rates and Interest Charges
ANNUAL PERCENTAGE 
RATE (APR) for Purchases
Platinum Visa 
Card/Scorecard 

10.49% to 18.49%                      
(Rates based on your 
creditworthiness)
13.49%
10.49%

Student Card 

Secured Card 

APR for Balance Transfers 
and Cash Advances
Platinum Visa 
Card/Scorecard 

Student Card  
Secured Card  

How to avoid paying  
interest on charges 

For Credit Card Tips from 
the Federal Reserve Board 

10.49% to 18.49% 
(Rates based on your 
creditworthiness)
13.49%
10.49%

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.

To learn more about facts 
to consider when applying 
for or using a credit card, 
visit the website of the 
Federal Reserve Board at
http://www.federalreserve.
gov/creditcard 

Fees

Annual Fee 

None

Transaction Fees
•  Balance Transfer 
•  Cash Advance  
•  Foreign Transaction 

None
None
Up to 1% of the amount of 
the transaction in US dollars

Penalty Fees
•  Late Payment 
•  Returned Payment 

Up to $25.00
Up to $15.00

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  your  account 
agreement.

In  this  agreement,  the  words  “you”  and  “your”  mean  each  person 
who has signed the application for the card. “Card” means the SECU 
VISA  Platinum  Credit  Card,  SECU  VISA  Platinum  ScoreCard™ 
Credit Card, or the SECU VISA Student Credit Card, as the case 
may  be,  and  any  duplicates  and  renewals  we  issue.  “Account” 
means your VISA Credit Card line of Credit account with us. “We”, 
“us” and “ours” mean State Employees Credit Union of Maryland, 
Incorporated (SECU).

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 card account. For example, you are responsible for charges 
made by yourself, authorized users you designate, your spouse and 
minor children. You are also 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  in  writing  and  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. Each of you who has signed the application is individually 
and  jointly  obligated  for  all  payments  due  under  this  agreement. 
You agree to use the account only for personal, family, household 
or charitable purposes. You will not use this account for any illegal 
transactions. Notice to any Account owner is considered notice to 
all Account owners.

2.  LOST  CARD  NOTIFICATION:  If  you  believe  your  card, 
convenience  checks  and/or  Personal  Identification  Number  (PIN) 
has been lost or stolen, you will immediately call us at 410-487-7328 
or 1-800-879-7328, Monday through Friday, 8:00 a.m. to 5:00 p.m. 
During evenings, weekends and holidays, call 1-800-299-9842.

3.  LIABILITY  FOR  UNAUTHORIZED  USE:  You  understand 
that  you  may  not  be  liable  to  SECU  for  any  card  transactions 
resulting from the loss, theft or other unauthorized use of the card 
that occurs prior to the time you notify SECU in accordance with 
Federal Law.

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 
applied to the principal. You may request an increase in the amount 
of your credit line by written application or oral communication to 
us.  It  must  be  approved  by  our  loan  office.  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  the  agreement,  or  our 
adverse  reevaluation  of  your  credit  worthiness.  You  may  also 
terminate this agreement at any time, but termination by either of 
us does not affect your obligation to pay the account balance. The 
cards  remain  our  property  and  you  must  surrender  all  cards  and 
convenience checks upon our request.

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 to the extent authorized in our bylaws.

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 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 required 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) 
2.5% of your total new balance or $20, whichever is greater; or (b) 
your  total  new  balance  if  it  is  less  than  $20  plus  any  portion  of 
the  minimum  payment  shown  on  prior  statements  that  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  balances  with  the 
highest  annual  percentage  rate  and  any  remaining  portion  to 
other balances in descending order based on the applicable annual 
percentage  rate.  However,  if  you  pay  by  check,  the  amount  of 
your payment may not be applied to your available credit line for 
such  period  of  time  as  we  reasonably  determine  is  necessary  to 
ensure that your check is honored. We may also allow you to skip 
a payment. If we do, we will notify you in advance of this option. 
If you choose to skip a payment when offered, we will continue to 
assess FINANCE CHARGES. You agree to pay us in U.S. dollars 
drawn on funds on deposit in the United States using a payment 
check, similar instrument, or automatic debit that will be processed 
and honored by your financial institution. We reserve the right to 
accept payments made in foreign currency. If we do, we will select 
the currency conversion rate at our discretion.

7. IRREGULAR PAYMENTS: We reserve the right to accept late 
payments  or  checks  and  money  orders  marked  “payment  in  full” 
without any prejudice to our rights under this agreement. If a check 
is presented for payment before the date you write on the check or 
the check is not dated, we have the right to process the check for 
payment  or  return  it  unpaid.  You  will  hold  us  harmless  for  any 
action in payment or non-payment of the check.

8. FINANCE CHARGES: 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.  If  you  do  not  pay  the  total  new  balance  for  purchases  by 
the due date, FINANCE CHARGES will be imposed on the unpaid 
purchase balance from the first date of the last billing cycle and on 
new purchases from the day they are posted to your account. For 
cash  advances  and  balance  transfers,  FINANCE  CHARGES  will 
begin  to  accrue  from  the  date  of  the  transaction  and  continue  to 
accrue until payment in full is credited to your account. We figure 
the FINANCE CHARGE on your account by applying the periodic 
rate  to  the  “average  daily  balance”  of  your  account  (including 
current transactions).

Platinum Credit Card Rates
  Monthly Periodic Rate     ANNUAL PERCENTAGE RATE*
0.87%                                    10.49%
0.96%                                    11.49%
1.12%                                    13.49%
1.37%                                    16.49%
1.54%                                    18.49%

*The  Annual  Percentage  Rate  and  monthly  periodic  rate  on  your 
account appears on your welcome letter, which rate is incorporated 
herein  by  reference.  The  corresponding  monthly  periodic  rate 
appears above next to that Annual Percentage Rate.

To  get  the  “average  daily  balance”  for  purchases  we  take  the 
beginning balance of your account each day, add any new purchases, 
and subtract any payments or credits, and unpaid finance charges. 
This  gives  us  the  daily  balance.  Then,  we  add  up  all  the  daily 
balances for the billing cycle and divide the total by the number of 
days in the billing cycle. This gives us the “average daily balance.” 
To get the daily balance for cash advances, new cash advances are 
added to the day’s beginning balance and payments and credits are 
subtracted. Fees are not included in the calculation of the average 
daily balance. FINANCE CHARGES will continue to accrue on your 
account until what you owe under this Agreement is paid in full.

9.  LATE  CHARGES:  In  addition  to  the  continued  accrual  of  the 
FINANCE CHARGE at the daily periodic rate, if you fail to pay at 
least the minimum payment within 15 days after it is due, we may 
assess a late charge of up to $25.00 for each delinquent payment.

10.  THE  CONDITIONS  UNDER  WHICH  ANY  OTHER 
CHARGES MAY BE IMPOSED: These charges will be added to 
your purchase balance.

A. DISHONORED CHECK – A fee of up to $15.00 may be imposed 
if payment is made with a check that is dishonored on the second 
presentment.

B. RESEARCH CHARGE PER ITEM – A $6.00 fee will be charged 

to your account if you request a copy of a sale or cash advance draft 
that is not part of a chargeback or fraud claim. This fee will also 
apply to each statement request.

C. ADDITIONAL CARDS –We will issue up to four (4) cards at no 
cost. Rush requests are $25.00 per request. 

11. DEFAULT: You will be in default if you fail to make a minimum 
payment within 25 days after your monthly statement closing date. 
You will be in default if you break any promise you made or any 
security agreement made in connection with an advance. 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 update of credit information. You will also be 
in default if something happens that we believe may substantially 
reduce your ability to repay what you owe. When you are in default 
we can demand immediate payment of the entire amount you owe 
without giving you advance notice. You will also be required to pay 
our  collection  expenses,  including  court  costs  and  an  additional 
sum  equal  to  20%  of  the  aggregate  of  the  principal  and  interest 
due if your account is referred to an attorney at law or collection 
agency for collection. You authorize us to submit payroll deduction 
requests, when available, from your wages, salary or pension to the 
State  of  Maryland  or  other  employer  agency  for  any  amounts  in 
default without additional authorization.

12.  DELAY  IN  ENFORCEMENT:  We  can  delay  enforcing  any 
right under this agreement without losing that right or any other 
right.

13.  SEVERABILITY:  If  any  provision  of  this  agreement  is  held 
invalid, all provisions that are severable from the invalid provision 
remain in effect.

14. ACCESSING THE ACCOUNT: To make a purchase or cash 
advance  there  are  three  alternatives.  (a.)  Present  the  card  to  a 
participating  VISA®  plan  merchant,  to  us  or  to  another  financial 
institution. Then sign the sales or cash advance draft that has been 
imprinted or swiped with your card information. (b.) Complete the 
transaction by using your Personal Identification Number (PIN) in 
conjunction with the card in an Automated Teller Machine (ATM) 
or other type of electronic terminal that provides access to the VISA 
system.  (c.)  Issue  a  convenience  check  for  the  payment  of  goods, 
services or cash. You will retain the copy of such slips furnished at 
the time of the transaction to verify the monthly statement. SECU 
may charge a reasonable fee for photocopies of slips you request.

15. CARD RENEWAL: Cards are issued with an expiration date. 
We have the right not to renew your card for any reason.

16.  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  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 $1.00 or more, refund it on your written 
request or automatically after 6 months.

17.  FOREIGN  TRANSACTIONS:  Purchases  and  cash  advances 
made  in  foreign  countries  and  foreign  currencies  will  be  billed  to 
you in U.S. dollars. An International Transaction Fee up to 1% will 
be assessed on all transactions where the merchant country differs 
from the country of the card issuer. The converted transaction 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. The exchange 
rate  for  transactions  in  foreign  currency  will  be  a  rate  selected 
by  Visa  from  the  range  of  rates  available  in  wholesale  currency 
markets for the applicable central processing date, which may vary 
from  the  rate  Visa  itself  receives,  or  the  government  mandated 
rate  in  effect  for  the  applicable  central  processing  date  plus  the 
International Transaction Fee of up to 1%.

18. 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 claims and defenses (other than tort 
claims)  as  set  forth  herein  under,  “Special  Rules  for  Credit  Card 
Purchases.” You must resolve any other disputes directly with the