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SEE SCAMS/ALERTS PAGE FOR IMPORTANT INFORMATION ABOUT A PHISHING SCAM THAT MAY APPLY TO YOU!
Don't you want a local VISA Credit Card in your wallet today? WANT ONLINE ACCESS TO YOUR VISA CARD? Check out what you can do through www.ezcardinfo.com OR you can call 1-800-299-9842 for account Information
VISA® CREDIT CARD AGREEMENT THIS AGREEMENT IS SUBJECT TO BINDING ARBITRATION PURSUANT TO EITHER THE FEDERAL ARBITRATION ACT OR STATE LAW AS APPLICABLE. (See Paragraph 20 or the Your Credit Card Agreement for complete details). 1. Responsibility. If we issue you a card, you agree to pay all debts and the FINANCE CHARGE arising from the use of the card and the card account. You are responsible for charges made by anyone else to whom you give the card and this responsibility by notifying us, but we will close the account for new transactions if you so request 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. If more than one person has applied for a card or signed the application, paragraph 15 below also applies to your account. You agree that you will not use or allow anyone else to use your card for any transaction that is illegal under applicable federal, state or local law. 2. Lost Card Notification. If you believe your credit card has been lost or stolen, you will immediately call the Credit Union at: (207) 989-7240, during business hours or (800) 991-4961 after hours. 3. Liability for Unauthorized Use. You will not be liable to the credit union for the unauthorized use of your card if the unauthorized use was not caused by your gross negligence or fraud. In any case, your liability to the credit union will not exceed $50.00 for other unauthorized use of your card that occurs prior to the time when you give notice of possible unauthorized use to the credit union at 77 No. Main Street or 229 Dirigo Drive, Brewer Maine (207) 989-7240. 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 exceeds this approved Credit Line. Each payment you make on the account will restore your Credit Line by the amount of the payment which is applied to principal. You may request an increase in your Credit Line only by written permission to us, which must be approved by us. 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 failure to comply with this 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 recover and surrender to us all cards upon our request and upon termination of this Agreement. 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. 6. Details About Your Monthly Payment
7. Finance Charges
*The APR and MPR are the Credit Union's A Rate. Your rate may vary based on individual creditworthiness and our underwriting standards. For members who do not meet the A rate requirements, 1% - 9.1% will be added to the APR, with a corresponding increase to the MPR as follows:
You may consult with one of our Financial Services Representatives regarding the category assigned after evaluation of a completed application for our credit card services. Your APR will be set forth in each monthly statement. i. Cash Advances. The finance charge on cash advances for a billing cycle is computed by applying the monthly periodic rate to the average daily balance, 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 adding to the previous balance for cash advances (the outstanding cash advance balance of your account at the beginning of the billing cycle) any new cash advances received and subtracting any payments as received or credits as posted to your account, but excluding any unpaid finance charges. ii. Purchases. 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 of purchases during the billing cycle by the number of days in 8. Default
9. Using the Card. To make a purchase or cash advance, there are two alternative procedures to be followed. One is for you to present the card to a participating Visa Credit Card merchant, to us, or to another financial institution, and sign the sales or cash advance draft which is imprinted with your card. The other is to complete the transaction by using your Personal Identification Number (PIN) in conjunction with the card in an Automated Teller Machine or other type of electronic terminal that provides access to the Visa Credit Card system. The monthly statement will identify the merchant, electronic terminal, or financial institution at which transactions were made, but sales, cash advance, credit, or other slips cannot be returned with the statement you will retain the copy of such slips furnished at the time of the transaction in order to verify the monthly statement. The Credit Union may make a reasonable charge for photocopies of slips you request. 10. 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 slip 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 it is $1 or more, refund it on your written request or automatically after six (6) months. 11. Foreign Transactions. Purchases and cash advances made in foreign countries and foreign currencies will be billed to you in U.S. Dollars. A 1% International Transaction Fee will be assessed on all transactions where the merchant country differs from the country of the card issuer. The converted transaction amount will be shown separately from the International Transaction Fee on your account statement. This fee will be assessed on all international purchases, credit vouchers, and cash disbursements. Visa will charge 0.8% for international transactions that do not involve currency conversions. The exchange rate for transactions is 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 plus the 1% International Transaction Fee. 12. 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) arising out of goods or services you purchase with the card only if you have made a good faith attempt but have been unable to obtain satisfaction from the plan merchant, and (a) your purchase was made in response to an advertisement we sent or participated in sending to you, or we own or operate the merchant; (b) your purchase cost more than $50 and was made from a plan merchant in your state or within 100 miles of your home. Any other disputes you must resolve directly with the plan merchant. 13. PLEDGE OF SAVINGS AND SECURITY INTEREST 14. Effect of Agreement. This Agreement is the contract which applies to all transactions on your account even though the sales, cash advance, credit or other slips you sign or receive may contact different terms. We may amend this Agreement from time to time by sending you the advance written notice required by law. Your use of the card thereafter will indicate your agreement to the amendments. To the extent the law permits, and we indicate in our notice, amendments will apply to your existing account balance as well as to future transactions. 15. Joint Liability. If this is a joint account, each person on the account must sign the agreement. Each person who has signed the application or applied for a card will be individually and jointly responsible for paying all amounts owed under this Agreement. This means that the Credit Union can require any one of you individually to repay the entire amount owed under this agreement. Each of you authorizes the other(s) to make purchases or cash advances individually. Any one of you may terminate the account and the termination will be effective as to all of you. 16. Other Charges. The following charges will be added to your account, as applicable: a walk-thru fee of $20.00; 1 late fee of $15.00 (over 15 days); a copy of statement fee of $5.00; a copy of a sales draft fee of $5.00; a returned payment fee of $20.00; a card replacement fee of $10.00; an over-limit fee of $25.00. 17. Copy Received. You acknowledge receipt of a copy of this Agreement. 18. Signatures. By signing in the Signature area of the application form you agree to the terms of this Agreement. 19. (a) Exceeding Your Credit Limit. Credit Union will charge your account an over the credit limit fee of $25.00 for each billing period in which your new Balance exceeds your credit limit. This fee may be added to your account balance, or collected from you on demand. 20. Binding Arbitration. EXCEPT AS SPECIFICALLY PROVIDED HEREIN, THIS ARBITRATION PROVISION SUBSTANTIALLY LIMITS OR AFFECTS YOUR RIGHTS. PLEASE READ IT CAREFULLY. NEITHER PARTY WILL HAVE A RIGHT TO HAVE A JURY DECIDE ANY CLAIM OR DISPUTE AND THE ABILITY TO APPEAL IS LIMITED IN AN ARBITRATED MANNER. FURTHER NEITHER PARTY NOR ANYONE ON THEIR BEHALF CAN SUE A CLAIM OR DISPUTE IN A CLASS OR REPRESENTATIVE ACTION. Arbitration is a method of deciding disputes outside the court system. The parties agree and understand that they choose arbitration instead of litigation to resolve all claims and disputes not specifically excluded. This provision governs when and how any disputes you and we may have will be decided. Unless specifically provided by applicable law all disputes, claims, damages, chose in action, claims for injunctive relief or controversies arising from or relating in any way to the agreements, relationships, accounts, loans, or security agreements between you and us; the relationships which result or arise as a result of this Agreement; any rights, privileges or services you receive from us now or in the future; any claims or disputes arising in or ancillary to any bankruptcy or other insolvency proceeding; or the validity of this clause (together referred to collectively as Agreement), shall be resolved by binding arbitration by a single arbitrator chosen with the consent of both parties. The arbitrator must be an attorney with more than ten (10) years experience or a retired judge. If for any reason the parties do not consent to an arbitrator within thirty (30) days from the date that notice of a claim or intent to arbitrate is provided to the other party, then an arbitrator will be selected pursuant to the Rules of the American Arbitration Association (“AAA”). This arbitration Agreement is made pursuant to t a transaction in Interstate Commerce, and shall be governed by the Federal Arbitration Act (“FAA”) at 9 USC & 1, et seq., as amended from time to time. It is understood and agreed that you're Credit Plan Agreement(s), your Accounts, all transactions on your Accounts, and any dispute defined herein shall involve Interstate Commerce. If any dispute between us does not involve Interstate Commerce, such dispute shall be governed by the Maine Uniform Arbitration Act at Me Rev. Stat, tit. 14, &5927 as amended from time to time, in which case all references to the FAA herein shall be to said State Act. The parties agree and understand that the arbitrator shall have all power provided by the law and this Agreement to make and enter findings of fact and determination of judgment based on the parties Agreements and applicable law, including but not limited to the rights of possession, off-set, property rights, money damages, declaratory relief, and injunctive relief. No arbitrator shall have jurisdiction or authority to add to, take from nullify or modify any of the terms of the Agreement. The arbitrator shall be bound by the facts and evidence submitted to him. Arbitration will be subject to the rules of procedure and evidence consistent with the Rules of the American Arbitration Association, and the Arbitrator will not apply federal or state rules. The decision of the arbitrator shall be final and binding and may be enforced in accordance with the terms of either the Federal or applicable State Law, except for any specific appeal right regarding a judgment under the FAA or a judgment for more than $100,000. For these judgments, any party may appear to a three-arbitrator panel appointed by and under the rules of the AAA. The decision of the panel will be by majority vote and will be final and binding except for any specific appeal right under the FAA. All provisions of this Arbitration Agreement will apply to the panel. Judgment upon the award rendered may be entered in any court having jurisdiction. THE PARTIES AGREE AND UNDERSTAND THAT ALL DISPUTES (INCLUDING ALL LEGAL AND EQUITABLE RIGHTS AND REMEDIES) ARISING UNDER CASE LAW, STATUTORY LAW AND ALL OTHER LAWS INCLUDING, BUT NOT LIMITED TO, ALL CONTRACT, TORT, REGULATORY, AND PROPERTY DISPUTES WILL BE SUBJECT TO BINDING ARBITRATION IN ACCORD WITH THIS AGREEMENT. Notwithstanding anything hereunto the contrary, the Credit Union retains an option to use judicial or non-judicial relief to enforce a security agreement relating to any collateral pledged to secure the Agreements between the parties, to enforce all monetary obligations by you to the Credit Union so long as there is no dispute, or to foreclose on any collateral securing your obligations to us by way of replevin, claim and delivery or otherwise. The initiation and maintenance of an action for judicial relief in a court [on the foregoing terms] shall not constitute a waiver of the right of any party to compel arbitration regarding any other dispute or remedy subject to arbitration in this Agreement, including the filing of a counterclaim in a suit brought by the Credit Union pursuant to this provision. Any arbitration proceeding will take place in the federal judicial circuit where you live. If you cannot afford to pay the fees charged by the Arbitrator or any panel for an appeal as provided herein, we will consider any reasonable written request by you for us to pay the fees. We will pay any fees or costs specifically required by applicable law. However, each party must bear the expense of that party's attorneys, experts, and witnesses, regardless of who wins the arbitration, except to the extent that applicable law specifically requires otherwise. The rules of the AAA will be applied to any arbitration between the parties, except in the event of any inconsistency between this Agreement and the rules of the AAA, in which case this Agreement will govern. YOUR BILLING RIGHTS.
Your rights and our responsibilities after we receive your written notice. 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:
INSURANCE DISCLOSURE AND REQUEST FOR Minimum Age: 18 Maximum Age: 64 Credit Insurance is not required to obtain credit and will not influence the approval or amount of credit given to any credit card applicant. The insurance disclosure applies to all loans made under the Credit Card Agreement. If Credit Life and/or Credit Disability Insurance is purchased, the cost of insurance will be added to the monthly balance. Insurance Premiums may increase outstanding credit balances and will be financed at the same ANNUAL PERCENTAGE RATE as disclosed in the Credit Card Agreement. If the account becomes four months delinquent, your Credit Life and/or Credit Disability Insurance will be terminated. SINGLE CREDIT LIFE INSURANCE
I desire __ Single Credit Disability Insurance __ No Credit Insurance Date ______________________________________________ SHORT FORM HEALTH STATEMENT FOR CREDIT INSURANCE Proposed Primary Insured _____________________________ Have you within the past 12 months been diagnosed or treated by a physician for having any of the following conditions or diseases: Heart Disease or Disorder, Stroke, Immune System Disorder or Cancer? Primary Proposed Insured (Use Initials) Yes_____ No____ To the best of my knowledge and belief, the statement above is true, complete and correctly recorded. I/We understand it will be the basis for the issuance of insurance coverage in connection with my above loan and will become part of my contract of insurance. I/We understand that if I/We answer the above question “yes” we do not have any coverage. I/We understand that falsely answering the above question will be sufficient grounds for Monument Life Insurance Company to deny benefits when a claim is made. Signature of Primary Proposed Insured Signature of Joint Proposed Insured (If any)
BREWER FEDERAL CREDIT UNION VISA AGREEMENT AND DISCLOSURE STATEMENT This table provides important information regarding your credit card account with Brewer Federal Credit Union. Annual Percentage Rate (APR) for Purchases, Cash Advances and Balance Transfers Fixed APR applies, as low as 11.99%* *The APR is the Credit Union's A Rate. Your rate may vary based on individual creditworthiness and our underwriting standards. For members who do not meet the A Rate requirements, 1% to 9.1% will be added to the APR. To determine the rate available to other borrowers add 1% for Category A, 3% for Category B; 5% for Category C; and 7% for Category D. The maximum APR is 16.99% **Brewer Federal Credit Union will adjust the interest rate on your account whenever your account is 60 days past due. We will change the interest rate to a fixed rate as high as 16.99% ANNUAL PERCENTAGE RATE, which is a periodic rate of 1.42% on the first day of the billing cycle following the cycle that was 60 days past due. The above information is accurate as of November 2008. This information may have changed after that date. To find out what may have changed, please call us at (207) 989-7240, or write us at: Brewer Federal Credit Union, PO Box 189, Brewer ME 04412-0189. |
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