Consumer Credit Card Agreement and Disclosure


This Consumer Credit Card Agreement & Disclosure together with the Account Opening Disclosure and any other Account opening documents or any subsequent documents provided to You related to this Account (hereinafter collectively referred to as "Agreement") govern the terms and conditions of this Account. In this Agreement, "WE, US and OUR" mean MyPoint Credit Union and the words "Cardholder" and "YOU, YOUR and YOURS" mean the applicant and any joint applicant named as a result of Cardholder's application, and where applicable, includes the utilization of the VISA Credit Card plan by card, check, telephone or otherwise.


You grant the Credit Union a security interest under the Uniform Commercial Code and under any common law rights the Credit Union may have in any goods You purchase.

If You give the Credit Union a specific pledge of shares by signing a separate pledge of shares, Your pledged shares will secure Your Account. You may not withdraw amounts that have been specifically pledged to secure Your Account until the Credit Union agrees to release all or part of the pledged amount.
You grant Us a security interest in all individual and joint share and/or deposit accounts You have with Us now and in the future to secure Your credit card Account. Shares and deposits in an IRA or any other account that would lose special tax treatment under state or federal law if given as security are not subject to the security interest You have given in Your shares and deposits. You may withdraw these other shares unless You are in default. When You are in default, You authorize Us to apply the balance in these accounts to any amounts due. For example, if You have an unpaid credit card balance, You agree We may use funds in Your account(s) to pay any or all of the unpaid balance. You acknowledge and agree that Your pledge does not apply during any periods when You are a covered borrower under the Military Lending Act. For clarity, You will not be deemed a covered borrower, and Your pledge will apply, if: (i) You established Your credit card Account when You were not a covered borrower; or (ii) You cease to be a covered borrower.

Unless otherwise prohibited by federal and/or state law, collateral securing other loans You have with the Credit Union may also secure this loan, except that a dwelling will never be considered as security for this Account, notwithstanding anything to the contrary in any other Agreement.

VARIABLE RATE: Your Annual Percentage Rate is based on the Prime Rate plus a margin. We will calculate the Annual Percentage Rate for each billing cycle by adding your margin to the highest Prime Rate as published in the Wall Street Journal on the 20th day of each month. When a change in a Variable Annual Percentage Rate occurs, it will become effective on the first day of the following month's billing cycle and will apply to any existing balances. In addition, increases in interest rates may result in a higher minimum payment and a longer repayment period.

AVERAGE DAILY BALANCE: To get the "Average Daily Balance," we take the beginning balance of your account each day, add any new advances and debits, and subtract any payment or credits, and any unpaid FINANCE CHARGES and fees. 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."

FINANCE CHARGES: The amount of FINANCE CHARGE for the Billing Cycle is determined by multiplying your Average Daily Balance by the Daily Periodic Rate, and then multiplying by the number of days in the Billing Cycle. Actual Periodic FINANCE CHARGES will be shown on your billing statement.

Periodic rate FINANCE CHARGES for each balance (e.g., purchases, cash advances, promotional balances) are calculated separately.
  1. PURCHASES: Grace period: if you pay the new balance in full by the payment due date shown on your monthly statement (typically 28 days from the close of the billing cycle), no finance charge for purchases will be imposed. If your payment is received after the payment due date or if you pay less than the entire new balance, you will be assessed a FINANCE CHARGE.
  2. CASH ADVANCES: You will be assessed a FINANCE CHARGE from the posting date of each cash advance to your account through the date it is paid in full. If you use a convenience check or authorize the transfer of an existing credit card balance to us, this transaction will be processed as a cash advance.
  3. PROMOTIONAL BALANCES: A FINANCE CHARGE is imposed on the Average Daily Balances of Promotional Balances according to the terms of the offer.

DEFAULT RATE: The Annual Percentage Rate for all balances will change to a Default Rate of 22.00% (which corresponds to a Daily Periodic Rate of 0.06027%) if you incur two late payment fees in a twelve month period. The Default Rate will take effect 45 days after the notification of the change in terms following the second late payment. The default rate will be applied on the first day of the billing cycle following the 45 day notification of the change in terms. You will no longer have cash advance privileges. It will remain in effect until terminated by us.

PAYMENTS: Payments must be received in U.S. dollars and will be applied as of the day of receipt in the following order:
  2. Fees (e.g., Late Fees and returned payment fees)
  3. Unpaid promotional balance
  4. Unpaid purchase balance
  5. Unpaid cash balance
  6. New purchase balance
  7. New cash balance
The minimum monthly payment will be the greater of (a) 2% of the New Balance at the end of each statement period, or (b) $15.00. If the New Balance of your account is less than $15.00, the minimum monthly payment will be the New Balance. In addition, if any amounts are Past Due and/or exceed your credit limit, such amounts will be included when determining your minimum monthly payment. We will credit payments promptly to your account so as to avoid additional finance or other charges, but we reserve the right to delay reinstatement of your credit line for a reasonable period of time to authenticate settlement of funds. If it is determined that during any 120 day period payments to your Visa account have not been sufficient to reduce the principal balance, the credit union reserves the right to increase the amount of your required minimum payment to no more than 3% of the loan balance.

CREDIT LIMIT: The Credit Limit for your account will appear on your billing statement(s). You promise that you and others using your Account will not make transactions on your Account in an amount that exceeds your Credit Limit. You also promise to pay us the amount of any transactions on your Account in excess of your Credit Limit, as we require. Except as may be limited by applicable law, we in our sole discretion may increase or decrease your Credit Limit by any amount. We may also refuse to extend additional credit for any transaction, if you have reached your Credit Limit or if you are in default.

ANNUAL FEE: There is no annual fee.

RETURNED ITEM FEE: You will pay a Returned Item Fee of $15.00 for any check or other form of negotiable instrument in payment on your Visa Card account, which is presented for payment and not honored.

REPLACEMENT CARD FEE: If you request a replacement card for your account at any time, you will be charged $5.00 per card.

CASH ADVANCE FEE/FINANCE CHARGE: You will pay a cash advance fee/FINANCE CHARGE of 3%, with a minimum fee of $10.00, of the total dollar amount of each cash advance transaction charged to your account during the billing cycle.

CONVENIENCE CHECKS: Qualifying Visa card accounts may receive Convenience Checks. The Convenience Checks, when used, access the available Visa Account Credit Limit and will be billed like a Cash Advance. You will pay a Convenience Check fee of 3% of the amount of the check advance with a minimum fee of $10.00. Each Convenience Check must be used according to the instructions we give you. Convenience Checks may not be used to pay any amount owed to the Credit Union and are subject to NSF Fees of $29.00 each.

PENALTY FOR LATE PAYMENT: If your minimum monthly payment is not received within 15 days after your Payment Due Date, you will be billed a Late Fee of $15.00. If you incur two late payment fees in a twelve-month period, your Annual Percentage Rate will convert to the Default Rate.

COPIES OF DOCUMENTS: If you request a copy of any document (e.g., billing statement, checks, sales drafts) for tax, record keeping, or similar purpose you will be charged $3.00 per photocopy.

RESEARCH FEE: We reserve the right to charge a minimum fee of $35.00, plus $20.00 per hour after the first hour, for research requested by you (except for research regarding the dispute of a billing error, in which case no fee will be charged) or for research performed in connection with a legal order.

FOREIGN TRANSACTIONS: Purchases and cash advances made in foreign countries and in foreign currencies will be billed to you in U.S. dollars, using either (i) 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 (ii) the government-mandated rate in effect for the applicable central processing date in each instance. In addition, you agree to pay a 1% foreign transaction fee.

OWNERSHIP: The VISA Credit Card remains the property of MyPoint Credit Union and may be canceled by us at any time without notice. Cardholder and all authorized users, agree to surrender the VISA Credit Card and any other access devices and to discontinue utilization of the VISA Credit Card account by any other means immediately upon our request.

RESPONSIBILITY: If we issue you a card, you agree to repay all debts and FINANCE CHARGES arising from the use of the card and the card account. For example, you are responsible for charges made by yourself, 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 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 amount. Any person using the card is jointly responsible with you for charges he or she makes, but if that person signs the card, he or she becomes a party to this Agreement and is also jointly responsible for all charges on the account, including yours. To terminate another person's authority to use your account, you must destroy the card(s) that the person has been using and return the destroyed card(s) along with written notification to the Credit Union.

You also agree that all transactions that you initiate by use of the Card are legal in the jurisdiction where you live and/or the transaction occurred. You agree to repay according to the terms of this Agreement all transactions you initiate by use of this card.

USING THE CARD: Your card may only be used for legal transactions. Internet gambling may be illegal in the jurisdiction in which you are located, including the United States. Display of a card logo by an online merchant does not mean that the transaction is lawful in all jurisdictions. We reserve the right to decline any transaction to your account, including Internet or Telephone gambling, ATM transactions, cash advances, and monetary transfers.

ADDITIONAL CARD: You may request additional cards on your account for others and you may permit an Authorized User to have access to your card or account number. You must notify us in writing to revoke an Authorized User's permission to use the account

CALIFORNIA LAW: The terms of your account are governed by the laws of the State of California regardless of where you live.

ATM ACCESS: The Visa Credit Card may be used at ATM machines which participate in the Visa Network. Such transactions will be treated as cash advances and are governed by this Credit Card Agreement.

PERSONAL IDENTIFICATION NUMBER: This number should be memorized — DO NOT WRITE IT ON THE VISA CARD. After memorizing it, destroy it. If you forget the number, contact the Credit Union and a new number will be issued. DO NOT write your number disguised anywhere.

CREDIT: A merchant who honors your card will instruct us to credit your account for any returns or adjustments. If your credits and payments exceed what you owe us, we will hold and apply this credit against future purchases and cash advances. However, if the credit balance is $1.00 or more, we will refund it to you within 7 days of your written request or within six months if the credit is still outstanding at that time.

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 contain different terms. We may amend this agreement from time to time by sending you the advance written notice required by law. Any change in terms may apply to your existing account balance as allowed by applicable law. Notice deemed given by sending to address on file.

DEFAULT: Your loan shall be in default if any of the following things occur: (a) you do not make any payment or perform any obligation under this Agreement or any other agreement that you may have with the Credit Union; or (b) you have made a false or misleading statement in my credit application and/or in your representations to the Credit Union while you owe money under this Agreement; or (c) you should die, or be involved in any insolvency, receivership or custodial proceeding brought by or against you; or (d) a judgment or tax lien should be filed against you or any attachment or garnishment should be issued against any of your property or rights, specifically including anyone starting an action or proceeding to seize any of your funds on deposit with the us; and/or (e) we should, in good faith, believe your ability to repay your indebtedness hereunder is or soon will be impaired, time being of the very essence. Any exercise of the right by us is not an election of remedies.

If you are in default of your Loan payments, or in breach of this Loan Agreement, in any way, upon any occurrence of default or breach, and to the extent permitted by law, we may declare the entire balance of your Loan immediately due and payable, without prior notice or demand. In the event collection efforts are required to obtain payment on this or any other account, you agree to pay all court costs, private process server fees, investigation fees or other costs incurred in collection and reasonable attorney fees incurred in the course of collecting any amounts owed under this Agreement. Even if we accept a late payment or partial payment, we are not waiving our right to accelerate the payment of the Loan and declare the entire unpaid balance due. Finance charges will continue to accrue on this loan until paid in full.

We may delay enforcing any of our rights under this Agreement any number of times without losing the ability to exercise our rights later. We may enforce this Agreement against your heirs, successors in interest or legal representatives. If we change the terms of this Agreement, you agree that you will still be bound by the terms and conditions.

This Agreement shall be interpreted by the laws of the State of California. Venue for any actions brought herein under shall be the County of San Diego.

CREDIT INFORMATION: You authorize us to investigate your credit standing when you apply for an account, upon renewal, or upon 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.

TERMINATION: We may terminate this Agreement upon adverse reevaluation of your creditworthiness or your failure to live up to any of the terms of this Agreement. Either we or you may terminate this Agreement for other good causes. In no event shall any termination relieve you of your obligation to repay sums already borrowed, collection costs and late charges, if any, and periodic FINANCE CHARGES.

CHANGE OF NAME AND ADDRESS: You agree to notify us in writing, immediately, if you change your name, address, or telephone number.

LOST OR STOLEN CARD OR UNAUTHORIZED USE: You agree to notify us immediately if any card issued on your account is ever lost or stolen or used in a manner not authorized by you. You also agree to assist us in determining the facts and circumstances relating to any such unauthorized use.

LIABILITY FOR UNAUTHORIZED USE: You should retain your copies of all sales drafts until you receive your monthly statement, at which time you should verify that the charges are true and the amounts unaltered. By promptly notifying us about any unauthorized use of your card or account information, you will not be held liable for any unauthorized transactions. If your card is lost or stolen or if you suspect possible unauthorized activity, notify us immediately by calling (888) 495-3400. You may also write to us at MyPoint Credit Union, 9420 Farnham Street, San Diego, CA 92123, or fax us at (858) 495-3416. Do not use your card or account if you have reported it lost or stolen.

Your Billing Rights: Keep this Document for Future Use
This notice tells You about Your rights and Our responsibilities under the Fair Credit Billing Act.

What To Do If You Find A Mistake On Your Statement
If You think there is an error on Your statement, write to Us at the address listed on Your statement.

In Your letter, give Us the following information:
Account information: Your name and Account number.
Dollar amount: The dollar amount of the suspected error.
Description of problem: If You think there is an error on Your bill, describe what You believe is wrong and why You believe it is a mistake.

You must contact Us:
Within 60 days after the error appeared on Your statement.
At least three business days before an automated payment is scheduled, if You want to stop payment on the amount You think is wrong.

You must notify Us of any potential errors in writing or electronically. You may call Us, but if You do We are not required to investigate any potential errors and You may have to pay the amount in question.

What Will Happen After We Receive Your Letter

When We receive Your letter, We must do two things:
  1. Within 30 days of receiving Your letter, We must tell You that We received Your letter. We will also tell You if We have already corrected the error.
  2. Within 90 days of receiving Your letter, We must either correct the error or explain to You why We believe the bill is correct.

While We investigate whether or not there has been an error:
  • We cannot try to collect the amount in question, or report You as delinquent on that amount.
  • The charge in question may remain on Your statement, and We may continue to charge You interest on that amount.
  • While You do not have to pay the amount in question, You are responsible for the remainder of Your balance.
  • We can apply any unpaid amount against Your credit limit.

After We finish Our investigation, one of two things will happen:
  • If We made a mistake: You will not have to pay the amount in question or any interest or other fees related to that amount.
  • If We do not believe there was a mistake: You will have to pay the amount in question, along with applicable interest and fees. We will send You a statement of the amount You owe and the date payment is due. We may then report You as delinquent if You do not pay the amount We think You owe.

If You receive Our explanation but still believe Your bill is wrong, You must write to Us within 10 days telling Us that You still refuse to pay. If You do so, We cannot report You as delinquent without also reporting that You are questioning Your bill. We must tell You the name of anyone to whom We reported You as delinquent, and We must let those organizations know when the matter has been settled between Us.

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 is correct.

Your Rights if You Are Dissatisfied With Your Credit Card Purchases

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:
  1. The purchase must have been made in Your home state or within 100 miles of Your current mailing address, and the purchase price must have been more than $50. (Note: Neither of these are necessary if Your purchase was based on an advertisement We mailed to You, or if We own the company that sold You the goods or services.)
  2. You must have used Your credit card for the purchase. Purchases made with cash advances from an ATM or with a check that accesses Your credit card Account do not qualify.
  3. You must not yet have fully paid for the purchase.

If all of the criteria above are met and You are still dissatisfied with the purchase, contact Us in writing or electronically at the address listed on Your statement.

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 an amount and You do not pay, We may report You as delinquent.