VISA Platinum Rewards Choice Credit Card Disclosure

Members 1st FCU VISA Platinum Choice Rewards Credit Card Price Addendum
Interest Rates and Interest Charges*
	VISA Platinum Choice Rewards Low Rate Option	VISA Platinum Choice Rewards Cash Back or Points Option
Annual Percentage Rates (APR) for Purchases, Cash Advances, Balance Transfers, and Convenience Checks	3.99% Introductory APR through the last day of the sixth billing cycle from account opening.   After that, your APR will be 9.49% - 16.99% based on your creditworthiness at the time of application.	3.99% Introductory APR through the last day of the sixth billing cycle from account opening.   After that, your APR will be 10.75% - 17.99% based on your creditworthiness at the time of application.
Penalty APR and When It Applies	18.0% If your account becomes 60 days delinquent.   Penalty APR will be applied to your balances for a minimum period of six months.
Grace Period to Avoid Paying Interest on Purchases	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. We will begin charging interest on cash advances, balance transfers, and convenience checks on the transaction date.
Balance Calculation Method	We use a method called the “average daily balance” (including new purchases).
Fees *
Annual Fee	None
Transaction Fees Balance Transfer Cash Advance Currency Transaction	None None 1.0% on multiple currency conversions, 0.80% on single currency conversions.
Penalty Fees Late Payments Over Limit Fee (Opt In) Return Check Fee	$30.00 (5 days post due date) $15.00 (If Opt In) $10.00
Other Features
Loan Protection	If you elect to obtain the optional loan protection coverage and pay the monthly protection fees, we will cancel your payments and outstanding balance if you die, become disabled or become involuntarily unemployed.

1. Meaning of Words. The following words have the following meanings in this Agreement and in the monthly billing statement sent hereunder:

(a)     “Agreement” means the Visa Credit Card Agreement and Disclosure furnished by us.

(b)    “we”, “us” and “our” means Members 1st Federal Credit Union, Mechanicsburg, PA.

(c)     “you” and “your” means each person who signs the application for the Account.

(d)    “Card” means any Visa Credit Card and any duplicates and renewals we issue to you or to an authorized user of your Account.

(e)    “Account” means your Visa Credit Card Account with us.

(f)       “Line of Credit” means the self-replenishing line of credit we make available to your Account.

(g)    “Advance” means any credit extended on your Account for any purchases or Cash Advances.

(h)     “Cash Advance” means (i) any cash or credit extended on your Account by us or by any other institution that accepts a Card, (ii) any withdrawal of cash made by using a Card and personal identification number (“PIN”) at an automated teller machine (“ATM”) or other type of electronic terminal that provides access to the Visa system, (iii) the amount of any Visa Convenience Check paid by us, or (iv) the amount of any balances transferred to your Account from another credit card or account.

(i)       “Visa Convenience Check” means any check that directly accesses your Account. The amount of any Visa Convenience Check paid by us is posted as a Cash Advance under your Account.

(j)       “Default” means that your cardholder payment practices have not been in accordance with the terms and conditions of this agreement, which could result in pricing changes as outlined in Section 10, Default.

2. How To Use This Account. Your Account may be used to purchase or lease goods and services (“Purchases”) from a merchant by presenting a Card and signing a sales transaction receipt for the amount of the purchase or by giving a Card Account number. Your Account may also be used to obtain Cash Advances:

(a)     By receiving cash or credit from financial institutions that accept a VISA Credit Card;

(b)    By use of Visa Convenience Checks;

(c)     By making cash withdrawals with a Card at an ATM or other type of electronic terminal that provides access to the Visa system; or

(d)    By transferring to your Account a balance from another credit card or account.

3.               Responsibility. You agree to pay all Advances, Finance Charges and other fees or charges charged to your Account arising from the use of a Card, a Visa Convenience Check or the Account by you or anyone you authorize or permit to use your Account, a Visa Convenience Check or a Card, even if you do not notify us that others are using your Account, a Visa Convenience Check or a Card. Your responsibility for charges made by anyone you authorize or permit to use your Account, a Visa Convenience Check or a Card continues until you notify us in writing at 5000 Louise Drive, P. O. Box 40, Mechanicsburg, PA 17055, and recover and destroy any Visa Convenience Check or Card in such person’s possession. Your obliga­tion to pay the Account balance continues regardless of the terms of any agreement, divorce decree, or other court judgment to which we are not a party. If more than one person signs the application for the Account, you are each jointly and severally responsible for all charges on the Account.

4.               Liability for Unauthorized Use. You understand that your total liability to us shall not exceed fifty dollars ($50) resulting from the loss, theft or other unauthorized use of a Card that occurs prior to the time you give notice to us. Such limitation does not apply when a Visa Convenience Check is used or proper adherence to the terms and conditions are not followed. As a Visa Cardholder you are also required to complete necessary documentation to limit your liability. Without proper completion you are accepting liability or responsibility for the transaction(s) in question.

5.    Lost Card Notification. If you believe a Card or any Visa Convenience Check has been lost or stolen, you must immediately call us at 1(800)-283-2328 Extension 6035 during normal business hours. After business hours (nights and weekends) or on holidays, lost or stolen Cards or VISA Convenience Checks must be reported by calling 1(800)-325-3678.

6.    Credit Line. If we approve your application, we will establish a Line of Credit for you and notify you of its amount when we issue a Card. This amount is your credit limit for the Account. You agree not to let the Account balance exceed this approved credit limit. Each payment you make on the Account will restore your credit limit by the amount of the payment that is applied to the principal balance owed on the Account. You may request an increase in your credit limit, which must be approved by us. We may reduce your credit limit or terminate this Agreement for any reasons not prohibited by applicable law, with only such notice as is required by applicable law. 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. To terminate this Agreement, you must notify us in writing at 5000 Louise Drive, P. O. Box 40, Mechanicsburg, PA 17055, and recover and surrender to us all Cards, and any issued but unused Visa Convenience Checks. They remain our property.

7.    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. Members 1st Federal Credit Union utilizes a performance base lending policy that will determine your Annual Percentage Rate on your individual creditworthiness, which is outlined in Section 9, Finance Charge.

8.    Payments. We will mail you a billing statement every month showing your previous balance comprised of Purchases and Cash Advances, the current transactions on your Account, your credit limit, the available credit, the new balance, the Finance Charges for the billing cycle, and the minimum payment required. Each month you must pay at least the minimum payment shown on your statement by the payment due date shown on the statement or no later than twenty-five (25) days from the statement closing date, whichever is later. If your statement says your payment is “Now Due,” your payment is due no later than twenty-five (25) days from the statement closing date. You may pay more frequently, pay more than the minimum payment or pay the 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 will be either i) two percent (2%) of your new balance or twenty dollars ($20), whichever is greater, plus any portion of the minimum payment shown on prior statement(s) which remains unpaid, or ii) your new balance, if it is less than twenty dollars ($20). We also have the right to demand immediate payment of any amount by which your new balance is over your credit limit. Effective with your new payment cycle beginning after January 31, 2010 we will apply your payments first to any fees, then to Finance Charges on Cash Advances, balance transfers and Purchases, then to any balances (highest to the lowest Annual Percentage Rate(s) first), then to new Purchases. We may accept checks marked “payment in full” or with words of similar effect without losing any of our rights to collect the full balance of your Account.

9. Finance Charge.

A.      The current monthly Periodic Rate and corresponding Annual Percentage Rate are set forth on the “Additional Disclosure” which is sent to you together with this Agreement.

B.      Annual Percentage Rate: The Annual Percentage Rate (“APR”) will be determined by your individual credit worthiness or credit score as of the time of application and or review, based on the card type (rewards or non-rewards) selected. Should your selection be a Rewards based Card product, your APR will be in place for a minimum period of 1 year from account opening date at the qualifying rate between 10.75% and 17.99% for both Purchases and Cash Advances. If your selection is a Low Rate (non-rewards) Card product, your APR will be in place for a minimum period of 1 year from account opening date at the qualifying rate between 9.49% and 16.99% for both purchases and Cash Advances. The Annual Percentage Rate will not exceed 18.0% or the maximum allowed by law, whichever is greater. The monthly Periodic Rate is equal to one-twelfth(1/12) of the APR. Your APR / rate is subject to change with the appropriate notification period of forty-five (45) days. At which time, you will have the right to accept or reject the changes. If you elect to reject the changes, you must submit a letter with your sig­nature indicating your rejection. Once received by the Card Services Group at Members 1st FCU, your Card Account will be blocked from further activity except payments. The closed Account will continue to be billed out under the existing terms and conditions as long as the Account is kept current during a maximum amortization period of five (5) years. Any delinquency could result in Default which is outlined in Section 10, Default.

C.      Method A - Average Daily Balance (Including New Cash Advances): A Finance Charge will be imposed on Cash Advances from the date made or from the first day of the billing cycle in which the Cash Advance is posted to your Account, whichever is later, and will continue to accrue until the date of payment. The Finance Charge on Cash Advances for a billing cycle is computed by applying the monthly Periodic Rate to the average daily balance of Cash Advances, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. Each daily bal­ance is determined by taking the beginning balance of Cash Advances on your Account each day, adding any new Cash Advances, and subtracting any payments or credits that are applied to Cash Advances but excluding any unpaid Finance Charges.

D.      Method G - Average Daily Balance (Including New Credit Purchases): A Finance Charge will be imposed on Purchases only if you elect not to pay the entire new balance shown on your monthly billing statement for the previous billing cycle on or before the payment due date of that statement. If you elect not to pay the entire new balance shown on your previous monthly billing statement by the payment due date, a Finance Charge will be imposed on the unpaid average daily balance of Purchases from the previous statement closing date and on new purchases from the date of posting to your Account during the current billing cycle, and 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 or until the date of payment if later than the payment due date. The Finance Charge on Purchases for a billing cycle is computed by applying the monthly Periodic Rate to the average daily balance of Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. Each daily balance is determined by taking the beginning balance of Purchases on your Account each day, adding any new Purchases, and subtracting any payments or credits that are applied to Purchases, but excluding any unpaid Finance Charges.

10. Default. You will be in Default if you fail to make any two (2) consecutive minimum pay­ments or other required payments by the date that it is due, resulting in a delinquency status of sixty (60) days or greater. You may be in Default if you break any promise you make under this Agreement, or re-payment agreement under a mutual agreement through the Members 1st FCU Collections Department. 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 which 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 under this Agreement. If immediate payment is demanded, you will continue to pay interest, at the applicable interest rates in effect under this Agreement, until what you owe has been repaid. If demand for immediate payment has been made, the shares and deposits given as security for payment under this Agreement can be applied towards what you owe. We can also take appropriate action as authorized under the Uniform Commercial Code to repossess any and all collateral pledged to secure repayment under this Agreement. To the extent permitted by applicable law, you will also be required to pay our collection expenses, including court costs and reasonable attorneys’ fees. We can also exercise any other rights given to us by law when you are in Default. If you become sixty (60) days or more delinquent, Default pricing will be initiated after the appropriate notification. Default pricing will convert all balances to an APR of 18.0% for a minimum period of six (6) months. Should you the cardholder become delinquent again within that period a new six (6)

month period will begin from that point in time forward. After that six (6) month period, without additional delinquency, your Account will revert to the previous (if applicable) performance base APR that shall be applied to the Account, which is outlined within the application and in Section 9, Finance Charge.

 

11. Using the Card. You may use a Card, Card Account number and/or PIN to make transac­tions on your Account. You will retain the copies of the transaction receipts furnished to you in order to verify your monthly billing statement. You agree that you will not use or permit anyone to use a Card or your Account for any transaction that is illegal under applicable federal, state or local law. You agree that illegal use of any financial service will be deemed an action of Default and/or breach of contract and such a service and/ or other related services may be terminated at our discretion. You further agree, should illegal use occur, to waive any right to sue us for such illegal use or any activ­ity directly or indirectly related to it. Additionally, you agree to indemnify and hold us harmless from any suits or other legal action or liability, directly or indirectly, resulting from such illegal use. We reserve the right to decline any transactions and or block your account for on going security and risk management purposes that we con­sider fraudulent, suspicious, or illegal and you further understand that we will not knowingly authorize charges related to online gambling.

12. Returns and Adjustments. Merchants and others who honor a Card may give credit or returns or adjustments, and they will do so by sending us a credit transaction receipt , 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 toward future Purchases and Cash Advances, or if it is one dollar ($1) or more, refund it on your written request or automatically after six (6) months.

13. Using Visa Convenience Checks. You may use your Visa Convenience Checks, if avail­able, as you would use a Card to make a purchase or payment or to receive cash. Your Visa Convenience Checks directly access your Account. All Visa Convenience Checks paid by us are treated as Cash Advances hereunder and, except as otherwise indicated, are subject to all terms of this Agreement pertaining to Cash Advances and to the following additional terms:

A.  No Visa Convenience Check may be used to make a payment on your Account.

B.  Only the person whose name appears on a Visa Convenience Check may use them.

C.  Visa Convenience Checks must be written in U.S. Dollars. Visa Convenience Checks may not be certified.

D. We may return a Visa Convenience Check unpaid if there is not enough available credit on your Account to pay it, if your Account is in Default, or if a Card or any Visa Convenience Checks have been reported lost or stolen. A ten dollar ($10) fee will be charged for each returned Visa Convenience Check.

14. Foreign Transactions. Purchases and Cash Advances made in foreign countries and for­eign currencies will be billed in U.S. Dollars. The exchange rate for transactions in a 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 rate may vary from the rate Visa itself receives, or the government mandated rate in effect for the applicable central process­ing date, increased by 1.0% on multiple currency transactions and 0.80% on single currency transactions. On foreign transactions you agree to pay all currency exchange charges.

15.   Merchant Disputes. We are not responsible for the refusal of any merchant or financial institution to honor a Card or Visa Convenience Check.

16. Security Interest. To secure your Account, you grant us a purchase money security interest under the Uniform Commercial Code in any goods you purchase using the Account. If you Default, we will have the right to recover any of these goods which have not been paid for through our application of your payments in the manner described in Section 8, Payments.

17. Fees and Other Charges. The following fees and other charges will be added to your Account, as applicable:

A. Annual Fee

Visa Platinum Rewards Choice........... None

B.        Late Payment Charges. If you fail to pay the minimum payment on your Account within five (5) days of the payment due date, a late payment charge of thirty dollars ($30) will be added to your Account.

C.      Over-Limit Charge. Effective with your new payment cycle beginning after February 22, 2010, you as a cardholder will have the right to Opt In or Out to Over Limit Services. By Opting In you will be allowed to exceed your credit limit to support spe­cific forced placed or close to the limit transactions up to a predetermined percentage variance. This variance is based on your cardholder history. You also agree to allow Members 1st FCU to charge an over-limit fee of fifteen dollars ($15) should this occur (this fee is limited to one per payment cycle, not per transaction). By not Opting In the transaction(s) that exceed your defined credit limit will then be declined at the point of sale.

D.        Returned Payment Fee. If a check, share draft or electronic payment is used to make a payment on your Account is returned unpaid because of insufficient funds or for any other reason, you will be charged a fee of ten dollars ($10) for each item returned.

E.        Returned Statement Fee. You will be charged one dollar ($1) for each monthly bill­ing statement that is returned.

F.         Copies of Visa Transaction Receipts and Statements. You will be charged three

dollars ($3) for each copy you request of a receipt for any Purchase, credit or Cash

Advance or of a monthly billing statement (except in connection with the resolution of a

billing error.)

G.        Other Fees. Cash Advance Fees – None, Balance Transfer Fees – None, Convenience Check Fee – None, ATM Transaction Fee – None

18. Paid Ahead Options. We may allow you, from time to time, to omit a monthly payment. We will notify you on your monthly statement when the option is available. If you omit a payment, Finance Charges will accrue on your balance in accordance with this Agreement. A Paid Ahead option does not extend the period within which you must pay the new balance in order to completely avoid Finance Charges on Purchases. A minimum payment will be due in the month following the month in which you omit your payment. Depending upon your previous payment size Paid Ahead could be active for a total of two (2) additional payment cycles before requiring another minimum payment amount.

19. Effective Agreement. This Agreement is a contract which applies to all transactions on your Account, even though the receipts you sign or receive for Purchases, credits, Cash Advances or other transactions may contain different terms. We may amend this Agreement from time to time by sending you written notice. As required by applicable law, we will give you written notice before the effective date of the amendment. To the extent applicable law permits, and as we indicate in our notice to you, amendments will apply to your new Account balances not existing balances prior to the effective date of the amendment. This Agreement shall be construed in accordance with the applicable laws of the Commonwealth of Pennsylvania and applicable federal laws.

 

YOUR BILLING RIGHTS — KEEP THIS FOR YOUR RECORDS

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 MONTHLY
BILLING STATEMENT.

If you think your monthly billing statement is wrong, or if you need more information about a transaction on your statement, write us on a separate sheet of paper at the address listed on your statement. Or access the Members 1st FCU Home Banking web site and utilize the VISA Dispute Form or in case of fraud the VISA Affidavit of Fraud and forward it to Members 1st FCU / Card Services Group, P.O. Box 40, Mechanicsburg PA 17055. Write to us as soon as possible. We must hear from you no later than 60 days after we send you the first statement on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights.

In your letter or proper form, 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 monthly billing statement automatically from your Savings or Checking Account, you can stop the payment on any amount you think is wrong. To stop the pay­ment your letter must reach us three (3) business days before the automatic payment is scheduled to occur.

YOUR RIGHTS AND OUR RESPONSIBILITIES AFTER WE RECEIVE YOUR
WRITTEN NOTICE.

We must acknowledge your letter within thirty (30) days, unless we have corrected the error by then. Within ninety (90) days, we must either correct the error or explain why we believe the state­ment was correct. After we receive your letter, we cannot try to collect any amount you question, or report you as delinquent. We can continue to send statements to you for the amount you question, including finance charges, and we can apply any unpaid amount against your credit limit. You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your statement that are not in question. If we find that we made a mistake on your statement, you will not have to pay any finance charges related to any questioned amount. If we didn’t make a mistake, you may have to pay finance charges, and you will have to make up any missed payments on the questioned amount. In either case, we will send you a statement of the amount you owe and the date 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 statement. And, we must tell you the name of anyone we reported you to. We must tell anyone we report you to that the matter has been settled between us when it finally is. If we don’t follow these rules, we can’t collect the first fifty dollars ($50) of the questioned amount, even if your statement was correct.

SPECIAL RULE FOR CREDIT CARD PURCHASES.

If you have a problem with the quality of property or services that you purchased with a credit card, and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the property or 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 one hundred (100) miles of your current mailing address; and (b) the purchase price must have been more than fifty dollars ($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.