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currency by a currency conversion rate. The conversion rate that Visa typically uses is either a government-mandated rate or a wholesale rate provided to Visa.
The currency conversion rate that Visa uses for a particular transaction is the rate in effect for the applicable currency at the time the transaction is processed.
This rate may differ from the rate in effect when the transaction occurred or when it was posted to your Account, and may be higher than the rate you could
have gotten if you had converted U.S. dollars into cash. If a transaction initially in a foreign currency is converted to U.S. dollars before it is entered into the Visa
network, the conversion rates and fees of the company that did the conversion will apply. Visa applies a 0.8% International Transaction fee to single currency
transactions where the currency has already been pre-converted into U.S. dollars and a 1% fee for multi-currency transactions where both the country codes and
currency codes are different. The fee is applied after converting the transaction currency into U.S. dollars. Two separate entries will appear on your statement,
one for the foreign transaction and one for the International Transaction fee. The State Employees’ Credit Union does not apply any additional conversion fee
other than what Visa imposes.
Refusal to Honor Card: The Credit Union has no liability or responsibility if any Merchant refuses to honor the Card.
Notice of Negative Information: The Credit Union may report information about your Account to credit bureaus. Late payments, missed payments, or other
defaults on your Account may be reflected on your credit report.
Events of Default: At the Credit Union’s option, all amounts due from you to the Credit Union will become immediately due and payable if any of the following
circumstances apply: (a) default by the Cardholder in making any payment when due and payable, (b) default by the Cardholder under any provision of these
Rules and Regulations, (c) the Cardholder’s death or becoming insolvent or making an assignment for the benefit of creditors, (d) a petition being filed or any
other proceeding being commenced under the Federal Bankruptcy Act or any state insolvency statute by or against the Cardholder, or (e) a receiver being
appointed for, or a writ or order of attachment, levy or garnishment being issued against the Cardholder or any of the Cardholder’s property, assets or income.
To the extent permitted by law, you agree to pay attorney’s fees and collection costs we incur in collecting amounts you owe us and enforcing our rights under
this Agreement.
Obtaining Account Information/Receipts: You may obtain information about the balance of your Account by calling our ASK-SECU Automated Voice Response
number at 1-800-275-7328 or locally in Raleigh at 919-839-5400. This information, along with a history of card transactions, is also available online through
Member Access at www.ncsecu.org. You can get a receipt at the time you make any transaction with your Card at an ATM or point of sale terminal. A receipt
may not be required for a point of sale transaction if the amount of the transaction is $50 or less.
Periodic Statements: A statement will be mailed to you after the 20
th
of each month in which there was a balance or activity on your Account. Statements are
also available through Member Access at www.ncsecu.org. We reserve the right to stop periodic statements if your Account is inactive. Notify the Credit Union
immediately of any charge or item which you believe to be incorrect or subject to dispute. Any charge or item on your monthly statement will be considered to
be correct 60 days following the statement mail date if written notification from you is not received by that time.
Payments: If you choose to pay less than the total New Balance as shown on your monthly statement, a minimum payment is required to be made. The
minimum payment is computed as 3% of your total New Balance or $25, whichever is greater. Generally, payments above the Minimum Payment due will be
applied first to higher interest rate balances and then to lower interest rate balances. This may help you pay off your highest interest rate balances more quickly
and reduce your interest charges. Payments received at a branch office by 5:30 pm Monday through Friday will be credited the same business day. Payments
received electronically through an optional payment service, including online through Member Access, or through ASK-SECU Voice Response, will be credited
based on the terms presented during use of the service.
Late Charges: A late charge of $5 will be added to your Account balance if you fail to make a payment equal to or greater than the Minimum Payment shown
on your monthly statement on or before the 5th calendar day following the Payment Due Date shown on that monthly statement. You will only have to pay the
late charge once on the same late payment. Any payment you make will be treated as being your oldest payment due.
Overdraft: You may request overdraft protection if you maintain a Credit Union checking account and a Credit Union issued Visa card. Overdraft cash advances
will be made in $50 increments up to your credit limit less any outstanding balance. If the available amount is less than $50, all funds available will be
transferred if these funds are sufficient to cover the item(s) in the checking account. You understand that the regular increment amount is subject to change by
the Credit Union without notice. If your Visa credit card Account is 30 or more days past due, or over the approved credit limit, overdraft protection will not be
available until the Account is current. Rates and methods of computation are the same as other cash advances.
Balance Transfers: All rates and offers are subject to change. The interest rates applicable to purchases or cash advances and for prior promotional/intro
balances remain unchanged. Balance transfers are treated as cash advances so interest accrues from the date the transfer is posted to your account. Balance
transfers of other SECU loans are not eligible for promotions. SECU may stop offering promotional/intro rates for new balance transfers at any time and without
prior notice. You agree to allow 30 days to process your request, pay the amount(s) authorized, and transfer the balances to your SECU credit card account. You
may transfer up to your available credit, not to exceed your credit limit authorized by SECU. Please continue to make minimum payments on your other credit
card(s) until the balances(s) have been transferred. Any overpayments must be refunded by the other institution. Payment of the amount(s) authorized by you
may or may not satisfy any outstanding balance(s) on the designated account(s). SECU is not responsible for any remaining balance or additional charges with
regard to such accounts, or for any charges resulting in any delay in the payment and transfer of balances. SECU reserves the right to refuse multiple transfers
from the same credit card. At expiration of the promotional/intro rate period, the “APR for purchases,” currently 8.75%, will apply to any remaining balance.
Refunds and Merchant Disputes: If you are entitled to a refund or credit for any reason, you agree to accept a credit to your Card instead of a cash refund, if
the merchant does not provide cash refunds. You will settle all disputes about purchases you make using your Card with the merchant who honored the Card.
We are not responsible for the delivery, quality, safety, legality or other aspect of goods or services that you purchase from others with the Card.
Liability for Unauthorized Use: If you notice the loss or theft of your Card or a possible unauthorized use of your Card, you should notify us immediately at the
address listed on your statement or Cardholder Services, P.O. Box 28540, Raleigh, NC 27611-8540, or call us at 1-888-732-8562. Calls to the Credit Union may