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Mastercard Disclosures

This Is Your Contract With Us. You signed an application for a MASTERCARD and/or GOLD MASTERCARD Account with us. We gave you a copy of this Agreement with the application. When you signed the application, you agreed to the terms of this Agreement. You must keep all your promises to us contained in this Agreement.

Sign The Card And Keep This Agreement. You must sign the Card before you use it. By using the Card, you agree to the terms of this Agreement. You should also read this Agreement and keep it with your records.

Effective January 3, 2018

Gold MasterCard
Annual Percentage Rate for purchases as low as 9.90%-12.90%*
Annual Percentage Rate for cash advances as low as 9.90%-12.90%*
Method of computing the balance for purchases Average daily balance (including current purchases)
Transaction fee for purchase N/A
Annual Fees None
MasterCard
Annual Percentage Rate for purchases as low as 12.90%-18.00%*
Annual Percentage Rate for cash advances as low as 12.90%-18.00%*
Method of computing the balance for purchases Average daily balance (including current purchases)
Transaction fee for purchase N/A
Annual Fees None

Over the Credit Limit Fee: $10.00, Cash Advance Balance Transfer Fee; The greater of $10.00 or one and half of one percent (1.50%) of the cash advance/balance transfer, not to exceed $250.00. Late Payment Fee: 10% of payment due, maximum of $35.00, minimum $1.00, NSF Fee $35.00.

*Your Annual Percentage Rate will be based on “creditworthiness.”

The undersigned member(s) jointly and severally apply for a Line of Credit (MASTERCARD and/or GOLD MASTERCARD credit card) that can be used from time to time which may be replenished by payment on the amounts previously drawn. By signing, using, or requesting issuance of this Card it is agreed as follows:

Words Used Often In This Agreement

1. In this Agreement “I,” “my,” “you” or “your” mean each person who applies for the credit card or signs this Agreement or who uses the credit card or duplicate credit card. “Card” means the MASTERCARD and/or GOLD MASTERCARD credit card and duplicates of said Card issued to you. The Credit Union means either RelyOn Credit Union or Kaufman County Credit Union. “Account” means your MASTERCARD and/or GOLD MASTERCARD credit card revolving account with the Credit Union (the “Credit Union”). “ATM” means automated teller machine. Each use of the Card at an ATM or elsewhere to obtain cash is a “Cash Advance.”

Use of Card

2. I will be responsible for all credit extended by the Credit Union in connection with my Card, regardless of the credit limit or who uses my Card, except as limited by paragraph 3. If I allow any person to use the Card, I must pay for their purchases, cash advances and other charges too. You agree that the use of the MASTERCARD and/or GOLD MASTERCARD to obtain a service or effect a transaction that is illegal under the law of any jurisdiction where originated, effected or accomplished will be a default and breach of this agreement. The Credit Union may terminate the access to the service or withdraw the right to use the MASTERCARD and/or GOLD MASTERCARD and/or demand the return of all cards or other access devices issued to you. If illegal use of your MASTERCARD and/or GOLD MASTERCARD occurs, you waive the right to sue the Credit Union and agree to indemnify and hold the Credit Union harmless from any suits or other legal action or liability which may be asserted, directly or indirectly against the Credit Union arising out of or resulting from the illegal use of the MASTERCARD and/or GOLD MASTERCARD.

Liability for Unauthorized Use

3. I may be liable for the unauthorized use of my Card. I will not be liable for unauthorized use that occurs after I notify the Credit Union at the address or phone number listed above, orally or in writing, of the loss, theft, or possible unauthorized use. In any case, you will have zero liability.

Cardholder’s Duties

4. I will promptly notify the Credit Union if my Card is lost or stolen. In the event my Card is lost, stolen, or misused, I will fully cooperate with the Credit Union in locating the Card and identifying and apprehending any party who may have stolen or misused it. My Card is the property of the Credit Union and I will surrender it on demand. The Credit Union may revoke or repossess it and terminate any commitment under the Agreement at any time. I understand and acknowledge that any such revocation or termination shall not affect my obligation to pay any outstanding balance. I will not transfer my Card or use it to obtain credit in excess of my credit limit or in the event I am or become in default under this Agreement or insolvent, bankrupt, or subject to any bankruptcy or debt adjustment proceeding.

Your Credit Limit

5. The Credit Union will tell me the maximum amount that I may owe it at any time. That amount is my Credit Limit. I may not use my Card if I owe more than my Credit Limit. If I exceed my Credit Limit, I must pay the full amount over the Credit Limit immediately.

Promise to Pay

6. I promise to pay the Credit Union, at the place designated on the periodic statement, the amount of all purchases and all cash advances that I make using the card and all other charges, including the finance charge when imposed, either: (a) in full within twenty-five (25) days after the current periodic statement date as billed; or (b) at my election, in monthly installments as follows: $18.00 or three percent (3%) of the unpaid balance, whichever is more, plus the entire portion of the outstanding balance in excess of my credit limit, plus any amount past due. If the outstanding balance of my account is $18.00 or less, it will be paid in full. Minimum periodic payments are required regardless of any prepayments as long as any balance exists.

Late Fees and Over-Limit Fees

7. Any payment not received by payment due date on statement will be charged a late payment fee of 10% of the payment due with a maximum of $35.00 and a minimum of $1.00. Over Credit Limit Fee: $10.00. In addition to any other rights the Credit Union may have, a $10.00 fee will be assessed for each month that my outstanding balance exceeds my credit limit.

Cost of Credit

8. 8a. I will pay a Finance Charge for all advances against my account at the “as low as” daily periodic rate of 0.027123% which as a corresponding Annual Percentage Rate of 9.9% up to a daily periodic rate of 0.049315% which has a corresponding Annual Percentage Rate of 18%. The rate is based upon your “creditworthiness.”

Cash advances incur a Finance Charge from the date they are posted to the account. New purchases will not incur a Finance Charge on the date they are posted to the account if I have paid the account in full by the due date shown on my previous monthly statement or if there was no previous balance. No additional Finance Charge will be incurred whenever I pay the account in full by the due date. The Finance Charge is figured by applying the periodic rate to the “balance subject to Finance Charge” which is the “average daily balance” of my account, including certain current transactions. The “average daily balance” is accrued by taking the beginning balance of the account each day and adding any new advances and subtracting any payments or credits and unpaid Finance Charges. The daily balances for the billing cycle are then added together and divided by the number of days in the billing cycle. The result is the “average daily balance.” The Finance Charge is determined by multiplying the “average daily balance” by the number of days in the billing cycle and applying the periodic rate to the product, I may pay any amounts outstanding at any time without penalty for early payment.

I understand that the Credit Union reserves the right to change the rate of the finance charge upon giving notice as required by law; provided that such change shall not apply to the balance due for past charges if no additional charges are made hereunder after such change. If additional charges are made after the change, such change shall apply to the balance due for past charges as well as the new charges.

8b. Past Due Rate: if at any time your account is 2 cycles or more past due, the rate will increase to a Delinquency Rate with a daily periodic rate of 0.049315, which as a corresponding Annual Percentage Rate of 18%. The Past Due Rate may be adjusted back to your Previous Rate after payments have been made on time as required for six consecutive months. You will receive a “Penalty Pricing Notice” on your statement prior to the rate increase.

Credit Insurance

9. If available, credit insurance is not required for any extension of credit under this agreement. However, I understand that I may purchase any credit insurance available through the Credit Union and have the premium added to the outstanding balance in my account. If I elect to do so, I will be given the necessary disclosures and documents at that time.

Default

10. I will be in default if I fail to make any minimum payment after the payment due date as shown on my monthly statement. I will also be in default if I should be in default on any other obligations to the Credit Union, or my ability to repay is materially reduced by a change in employment, an increase in my obligations, bankruptcy or insolvency proceedings involving me, my death or my failure to abide by this Agreement. The Credit Union has the right to demand immediate payment of my full account balance if I default, subject to notice required by law. To the extent permitted by law, I will also be required to pay collection costs, including reasonable attorneys’ fees.

Foreign Transactions

11. Purchase and Cash Advances made in foreign countries and foreign currencies will be billed to you in U.S. Dollars. The conversion rate to dollars will be made in accordance with operating regulation for international transactions established by MasterCard International, Inc. You will be charged a 1% Foreign Transaction Fee on all international purchases, cash disbursements and Account credit transactions.

Applicable Law and Enforcement

12. The Credit Union makes the decision to issue a Card from its offices in Texas. Texas and federal law apply to this Agreement. These laws will be used to interpret the rights of the Credit Union and my obligations under the Agreement. This Agreement is binding on my heirs, representatives, successors, and assigns.

Security

13. PLEDGE OF SHARES: YOU PLEDGE AND GRANT TO THE CREDIT UNION A SECURITY INTEREST IN ALL INDIVIDUAL AND JOINT ACCOUNTS YOU HAVE WITH US NOW AND IN THE FUTURE TO SECURE YOUR CREDIT CARD ACCOUNT(S) TO THE EXTENT OF THAT PORTION OF THE LOAN BALANCE WHICH MAY BE IN DEFAULT OR EXCEEDS YOUR CREDIT LIMIT, INCLUDING COSTS OF COLLECTION AND REASONABLE ATTORNEY’S FEES. YOU AUTHORIZE US TO APPLY THE BALANCE IN THESE ACCOUNT(S) TO PAY ANY AMOUNTS DUE UNDER THIS AGREEMENT IF YOU SHOULD BE IN DEFAULT.

COLLATERAL SECURING OTHER LOANS WITH US MAY ALSO SECURE OTHER ADVANCES MADE UNDER THIS AGREEMENT.

A BANKRUPTCY CASE WILL NOT BE OFFICIALLY RECOGNIZED UNTIL IT HAS BEEN BROUGHT TO THE ATTENTION OF THE RELYON CREDIT UNION WITH A NOTICE THAT IS ACTUALLY RECEIVED BY THE “COLLECTION DEPARTMENT” AT THE ADDRESS OF RELYON CREDIT UNION, P.O. BOX 542288, DALLAS, TEXAS 75354-2288”. COLLATERAL SECURING OTHER LOANS WITH US MAY ALSO SECURE EXTENSIONS OF CREDIT UNDER THIS AGREEMENT.

Terms and Conditions

14. By using my Card I agree that I will comply with all of the terms and conditions established by the Credit Union’s Board of Directors pertaining to the use of such Card. The terms and conditions referred to herein are those that will be furnished to me at the time I receive my Card as thereafter modified after any notice required by law. The Credit Union may change the terms of this Agreement from time to time upon prior notice mailed my last known address as shown by the records of the Credit Union. In the event I do not wish to comply with the foregoing terms and conditions for any reason, I understand that I may terminate this Agreement as provided in paragraph 15 below.

Periodic Review

15. The Credit union is authorized from time to time as it deems necessary to make inquiries pertaining to employment, credit standing and financial responsibility. At that time if the Credit Union feels that the “creditworthiness” of the member has declined, the Credit Union reserves the right to increase the annual percentage rate and or adjust the credit limit of your card based upon their Lending Policies. You will receive a “Change In Terms Notice” on your statement prior to the rate increase.

How I May Cancel The Account

16. I may cancel the Account whenever I choose. To cancel the account, I must cut each Card in half and notify the Credit Union in writing that I want to cancel the account and include the Card pieces with the notice. I still must pay the Credit Union any and all amounts owed to it.

Cancellation By The Credit Union

17. The Credit Union has the right to cancel my account at any time upon written notice to me. I must return the Card if I am asked to do so. I may not use the Card after I have been asked to return it.

Limitation Of Credit Union’s Responsibility

18. The Credit Union will not be responsible for merchandise or services purchased by me with the Card unless required by law. The Credit Union will not be responsible for the refusal of any person to honor the Card or if I am not able to use the Card at an ATM.

No Waiver Of Rights Of Credit Union

19. The failure of the Credit Union to exercise any of its rights under this Agreement shall not be deemed to be a waiver of such right or any right available under this Agreement.

YOUR BILLING RIGHTS KEEP THIS NOTICE FOR FUTURE USE
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 Bill

If you think your bill is wrong, or if you need more information about a transaction on your bill, write us (on a separate sheet) at the Credit Union, as soon as possible. We must hear from you no later than sixty days after we sent you the first bill on which the error of problem appeared. You can telephone us, 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 you are not sure about.

If you have authorized us to pay your credit card bill 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 business days before the automatic payment is scheduled to occur.

Your Rights and Our Responsibilities After We Receive Your Written Notice

We acknowledge your letter within thirty days unless we have corrected the error by then. Within ninety days, we must either correct the error or explain why we believe the bill 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 bill 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 bill that are not in question.

If we find that we made a mistake on your bill, 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 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 days telling us that you still refuse to pay, we must tell anyone we report you to that you have a question about your bill. 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 $50 of the questioned amount, even if your bill 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 have the right not to pay the remaining amount due on the property or services. There are two limitations on this right:

  1. You must have made the purchase in your home state or, if not within your home state within 100 miles of your current mailing address; and
  2. The purchase price 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.

LIABILITY FOR UNAUTHORIZED USE IF YOUR ATM CARD OR PER- SONAL IDENTIFICATION NUMBER (PIN) IS USED TO ACCESS LINE OF CREDIT. You may be liable for the unauthorized use of your ATM Access Card. You will not be liable for unauthorized use that occurs after you notify us at the phone number or address for the credit union on the reverse, orally or in writing, of the loss, theft, or possible unauthorized use. In any case, your liability will not exceed $50.00.