Please refer to the Truth in Lending Disclosure which has been provided to you by Technology Credit Union for rates, fees and other important terms of your Credit Card Account.
In this Credit Card Agreement and Truth in Lending Disclosure (“Agreement”), “you” or “Borrower” refers to any person listed as an Applicant/Borrower on the application for credit and, if the context so indicates, any person who completed the application as a non-borrowing Co-signer and who thereby undertakes the obligation to pay but will not use or benefit from the credit. “Authorized User” is a person to whom we issue a Credit Card consistent with your written instruction but who is not an Applicant/Borrower on the credit application. “We,” “us,” “Credit Union,” and “Tech CU” refer to Technology Credit Union. “Account” refers to the open-end line of credit established for you under this Agreement. The singular implies the plural if there is more than one Applicant or Co-signer for the Account or if the context otherwise indicates.
The extension of credit to you by Tech CU, which can be accessed using Credit Cards and convenience checks issued to you under this Agreement, will be subject to the following terms and conditions.
You consent to the terms of this Agreement applying for or accepting an offer for a Tech CU Credit Card account in writing, electronically, or by telephone and keeping or using the Card or convenience checks we issue in response to our approval of your application or your acceptance of our credit offer. If we acquired your Credit Card Account as a result of merger, your continued use of your Credit Card will be subject to the terms of this Agreement. Credit Cards issued subject to this Agreement will be used for personal, family or household purposes only.
Tech CU has the sole discretion to set your credit limit, applying our loan policies to the evaluation of your creditworthiness and ability to pay. Tech CU can review your Account from time to time. Account review may include checking your credit with third parties such as credit reporting agencies. You must provide any updated financial or other relevant information Tech CU requests. Tech CU can increase or decrease your rate, increase or decrease your credit limit or terminate your Account based on the review. Tech CU will give you the notice required by law if changes are made that adversely affect you. You can request an increase to your credit limit at any time by submitting an oral or written request, but Tech CU has sole discretion as to whether to approve your request. All cards issued or re-issued are subject to approval. A VISA® Account that has been inactive for six months may not be automatically renewed.
The following charges may be added to your Account balance and will accrue interest at the rate applicable to your Account until paid:
Tech CU may change the terms of this Agreement, including the ANNUAL PERCENTAGE RATE, by giving you written notice 45 days prior to the effective date of change. “Change” can mean adding a new term, changing an existing term, or deleting an old term. An increased interest rate or a change to a variable interest rate formula that will result in a rate increase will not apply to any transaction made prior to 14 days after the date notice of change in terms was mailed to you. If you do not want the changes to apply to your Account, you have the option of cutting all your Credit Cards (and Convenience Checks if applicable) in half and sending the pieces back to Tech CU with a written request that your Account be closed. If you do that, you must pay off your Account but under the old terms and under the old interest rate; and if you participate in a Rewards program, you will forfeit travel points, rebates or other Rewards you have accumulated.
You will promptly notify Tech CU of any information that affects your creditworthiness or ability to pay off the Account balance, including but not limited to a change of your name, address or employment. You agree not to use your Account for new transactions or apply to increase your credit limit if you have reason to believe you cannot make the required payments.
As a Co-signer, you understand and agree that you are obligated for the credit limit established by Tech CU for the Borrower to the same extent as the Borrower. Tech CU can proceed against you if the payments are delinquent even before seeking to recover from the Borrower. Tech CU will give you notice required by law of any adverse action it takes with respect to this Account. Any extension of the payoff or partial settlement with the Borrower will not waive any of Tech CU’s rights against you as a Co-signer. You can stop being obligated for future Account charges by writing to Tech CU to that effect. But you will still be jointly and individually liable with the Borrower for the repayment of the existing Account balance according to the terms of this Agreement. Any notice of non-responsibility for future charges should be sent to Tech CU by certified mail, return receipt requested, with postage fully prepaid. You will be responsible for all Account activity that occurs prior to Tech CU’s actual receipt of your notice. Tech CU has no obligation to accept mail received with postage due.
If you have a VISA Classic® Share Secured Credit Card, a specified amount in your Tech CU savings account is pledged as security for the repayment of all amounts loaned to you under the terms of this Agreement. (IRAs and health savings accounts may not be pledged as security for loans.) The amount pledged and associated account number will be shown on a separate security agreement you must sign. You cannot withdraw the pledged funds from the account as long as the pledge is in effect. If you default in your payments under the terms of this Agreement, Tech CU has the right to apply the amount specifically pledged to pay off the loan in full or in part.
If you fail to pay as agreed, you agree to pay all reasonable costs Tech CU incurs to collect on your Account before legal action is commenced. If Tech CU takes legal action to collect what you owe, you agree to pay our reasonable attorney’s fees and costs of suit in addition to any other amount you owe, whether the legal action taken is a collection lawsuit, a proceeding to protect our interests in bankruptcy, an appeal, an action to collect on a judgment we have against you, or another type of legal proceeding.
Tech CU can correct clerical errors in loan documents, including but not limited to errors in the interest rate quoted to you. You will be notified of any corrections and the reasons for them.
PLEASE READ THIS ARBITRATION AGREEMENT CAREFULLY. ANY DISPUTE RELATED TO YOUR ACCOUNT (EXCEPT DISPUTES SUBJECT TO SMALL CLAIMS COURT JURISDICTION) MAY BE RESOLVED BY BINDING ARBITRATION. YOU GIVE UP YOUR RIGHT TO GO TO COURT AND ASSERT YOUR RIGHTS OR DEFENSES BEFORE A JURY OR COURT JUDGE. YOU ALSO GIVE UP YOUR RIGHT TO ASSERT CLAIMS ON A CLASS OR REPRESENTATIVE BASIS. YOU ARE ENTITLED TO A FAIR HEARING BEFORE A NEUTRAL ARBITRATOR. ARBITRATION PROCEDURES ARE SIMPLER AND MORE LIMITED THAN COURT PROCEDURES. AN ARBITRATOR’S RULING CAN BE ENTERED AS A JUDGMENT IN COURT, AND IS SUBJECT TO APPEAL ONLY UNDER VERY LIMITED CIRCUMSTANCES.
Without prior written notice, Tech CU can terminate your Account, reduce or cancel all credit available on the account, refuse to make further advances, and revoke all cards and Convenience Checks issued on the account for any breach of the Agreement or for any specific reason shown in section J. You can close your Account at any time by submitting a written request to Tech CU. If you voluntarily resign your Tech CU membership, cause the Credit Union a loss, or are expelled from Tech CU membership, your Account will be terminated. If a Borrower or Co-signer on the Account dies or submits a notice of non-responsibility for future transactions, Tech CU can require any remaining Borrowers to re-apply to keep the Account open, provide an acceptable substitute Co-signer, or if the remaining Borrower(s) and/or Co-signers do not meet Tech CU’s credit criteria, close the Account to further borrowing. If your Account is terminated by you or by Tech CU, you will surrender all issued Cards and Convenience Checks to Tech CU. Termination of the Account does not relieve you of your obligation to repay the full account balance due under this Agreement.
You agree that Tech CU can contact you at any postal mail address, email address or telephone number you provide to us regarding your Account. Communications may include efforts to collect any balance you owe if you do not pay as agreed. You further agree that Tech CU or our third-party agents can telephone you at any number you provide to us, using live agents or automated dialing systems, and can leave messages at any such telephone number, including pre-recorded messages.
In order to provide your Account, Tech CU may provide your personal information to VISA® and its contractors and service providers.
If any part of this Agreement is found to be invalid, the other parts of this Agreement shall remain in effect. Applicable federal and California laws shall govern the interpretation of this Agreement.
This part of the disclosure includes special provisions applicable to the use of the Credit Card to a VISA® Cash Advance at Automated Teller Machines (ATMs). Please refer to your separate Electronic Funds Transfer disclosure in the Tech CU Consumer Membership Agreement for information on other ATM use.
Cash Advances made using an ATM will be shown on a transaction receipt dispensed by the ATM (unless the ATM notifies you that receipts are not available or you elect not to get a receipt), and also on your periodic statement.
If Tech CU does not properly complete a transaction according to our agreement with you, we will be liable for your direct losses or damages. However, there are some exceptions. We will not be liable if:
Do not use an ATM machine unless it appears safe to do so. Do not key in your PIN if someone is looking. Be sure you take your card and receipt when you are done. Put your money away quickly and leave the site.
This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.
If you think there is an error on your statement, write to Tech CU at P.O. Box 1409, San Jose, CA 95109-1409. In your letter, give us the following information:
You must contact Tech CU:
You must notify Tech CU of any potential errors in writing. You may call us but we are not required to investigate any potential errors received by phone. You may have to pay the amount in question.
When Tech CU receives your letter, we must do two things:
While Tech CU investigates whether or not there has been an error:
After Tech CU finishes our investigation, one of two things will happen.
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 was correct.
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.
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 the amount and you do not pay, we may report you as delinquent.
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