Mastercard® Platinum Secured Credit Card Agreement and Disclosure
Effective: November 12, 2018
Information contained in this Credit Disclosure is accurate as of this date and is subject to change thereafter. To obtain more recent information, please call us at 812-855-7823 or toll free at 888-855-6928.
|Interest Rates and Interest Charges|
|Annual Percentage Rate (APR) for purchases||11.25%
This APR will vary with the market based on the Prime Rate.
|APR for Balance Transfers||11.25%
This APR will vary with the market based on the Prime Rate.
|APR for Cash Advances||11.25%
This APR will vary with the market based on the Prime Rate.
|How to Avoid Paying Interest on Purchases||Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month.|
|For Credit Card Tips from the Consumer Financial Protection Bureau||To learn more about the factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore|
Balance Transfer Fee
Cash Advance Fee
Foreign Transaction Fee
Up to 1.0% of each transaction in U.S. dollars
Late Payment Fee
Over-the-Credit Limit Fee
Returned Payment Fee
Up to $17
Up to $25
How We Will Calculate Your Balance: We use a method called "average daily balance (including new purchases)." See your Account Agreement for more details.
|Statement Copy||$2 per page|
|Card Center Phone Payment||$6|
In this Agreement, the words "you" and "your" mean each and all of those who agree to be bound by this Agreement. "Card" means the Mastercard credit card and any duplicates, renewals or substitutions the Credit Union issues. "Account" means your Mastercard credit card line of credit account with the Credit Union. "We", "us" and "Credit Union" mean IU Credit Union or anyone to whom the Credit Union transfers this Agreement.
- Using Your Account. If you are approved for a credit card account, the Credit Union will establish a line of credit for you. You agree that your established credit limit is the maximum amount (purchases, cash advances, finance charges, plus other charges) which you should have outstanding on your Account at any time. If you go over your credit limit, you must pay the amount you are over before payments will begin to restore your credit limit (see Note a. below for Secured Credit Card Accounts). At any time, you may request a credit limit increase by using a method acceptable to the Credit Union. We are not responsible for any losses if a transaction on your Account is declined for any reason, either by us or a third party. We reserve the right to increase or decrease your credit limit for purchases and/or cash advances, refuse a transaction and/or terminate your Account at any time for any reason not prohibited by law. We may, from time to time, issue convenience checks to you or offer a balance transfer option that may be drawn on your Account. Convenience checks and balance transfers cannot be used to make payments on your Account or any other loan at the Credit Union. If you use a convenience check or request a balance transfer, it will be posted to your Account as a cash advance unless disclosed otherwise. If you request a balance transfer, but do not have enough available credit to cover the entire amount of the requested transfer, we may transfer only a part of the requested amount.
- Using Your Card. Use of your Card will constitute acknowledgement of receipt and agreement to the terms of this Consumer Credit Card Agreement and the Credit Card Account Opening Disclosure (Disclosure). You may use your Card to make purchases from merchants and others who accept Mastercard credit cards. Your Card is to be used only for personal, family, or household purposes. However, you may not use your Card to initiate any type of electronic gambling transactions through the Internet. If you elect to pay for goods or services over the Internet, you may be required to provide additional card security information before the transaction can be completed. In addition, you may obtain cash advances from any financial institution and from automated teller machines (ATM) that accept your Card. In order to use an ATM, you must use a personal identification number (PIN) assigned to your Card. You agree that you will not use your Card for a transaction that is illegal under applicable federal, state or local law.
- Responsibility. You agree to pay all charges (purchases and cash advances) made by you or anyone whom you authorize to use your Account or Card. If you let anyone use your Account or Card, that person is an authorized user. You are responsible for all use of your Account including charges by authorized users. You must notify us in writing if you want to stop an authorized user from using your Account. If you do, we may close the Account and issue a new Card(s) with a different account number. It is your responsibility to get any Cards, convenience checks or any other means of access to your Account from the authorized user and destroy them or return them to us upon request. Your obligation to pay the amount owed on your Account continues until paid in full even though an agreement, divorce decree or other court judgment to which we are not a party may direct someone else to pay the Account balance. If the Account is a joint account, each of you will be individually and jointly responsible for paying all amounts owed under this Agreement. This means the Credit Union can require any one of you individually to repay the entire amount owed. Each of you authorizes the other(s) to make purchases or cash advances individually. Any one of you may terminate the Account and termination will be effective for all of you.
- Billing Statements. We will provide you a billing statement each month if required by applicable law. The number of days between your statement closing date and your payment due date (the grace period) may vary from one billing cycle to another, but will never be less than 25 days.
- Periodic Rate. The periodic rates applicable to your purchases and cash advances are disclosed on the Disclosure. Any rate change will be made pursuant to applicable law. Your standard variable Annual Percentage Rate (APR) for purchases and cash advances may increase or decrease monthly. We calculate the APR by adding a margin to the highest U.S. Prime Rate published in the "Money Rates" section of The Wall Street Journal on the second Thursday of each calendar month. Based on this calculation, any change to the APR will be effective for the billing cycle that begins during the following calendar month. A "business day" is any day that is not a weekend or federal holiday. The APR will change if the Prime Rate changes. If the APR increases, you will pay a higher interest charge and may pay a higher minimum periodic payment. The Prime Rate is simply a pricing index and is not the lowest interest rate available. If The Wall Street Journal stops publishing the Prime Rate, we will select a similar reference rate at our discretion. The initial rate on your Account for certain types of transactions may be an introductory discounted rate (Introductory Rate) that is lower than the rate that would ordinarily apply for that type of transaction based on terms of this Agreement. If an Introductory Rate applies to your Account, the rates and the period of time it will be effective are shown on the Disclosure. After the Introductory Rate period expires, the Interest Rate will automatically increase to the rate that would ordinarily apply for that type of transaction based on the terms of this Agreement.
- Finance Charges. New purchases posted to your Account during a billing cycle will not incur a finance charge for that billing cycle if you had a zero or credit balance at the beginning of that billing cycle or you paid the entire new balance on the previous cycle’s billing statement by the payment due date of that statement; otherwise a finance charge will accrue from the date a purchase is posted to your Account. To avoid an additional finance charge on the balance of purchases, you must pay the entire new balance on the billing statement by the payment due date of that statement. Finance charge begins to accrue on each cash advance from the date you obtain the cash advance or from the first day of the billing cycle in which the cash advance is posted to your Account, whichever is later. Finance charge continues to accrue until the entire cash advance balance is paid. Thus, additional finance charge may be billed on the statement that follows the payoff of the cash advance balance. The finance charge is calculated separately for purchases and cash advances. For purchases, the finance charge is computed by multiplying the monthly periodic rate by the average daily balance of purchases. To figure the average daily balance of purchases, we take the beginning outstanding balance of purchases each day, add any new purchases and subtract any payments and/or credits. This gives us the daily balance of purchases. We then add all the daily balances of purchases for the billing cycle together and divide the total by the number of days in the billing cycle. This gives us the average daily balance of purchases. For cash advances, the finance charge is computed by multiplying the monthly periodic rate by the average daily balance of cash advances. To get the average daily balance of cash advances, we take the beginning outstanding balance of cash advances each day, add in any new cash advances, and subtract any payments and/or credits that we apply to the cash advance balance. This gives us the daily balance of cash advances. We then add all the daily balances of cash advances for the billing cycle together and divide the total by the number of days in the billing cycle. This gives us the average daily balance of cash advances. The minimum periodic finance charge on any balance is $.50.
- Security Interest. You hereby grant a security interest under the Uniform Commercial Code and under any common law rights the Credit Union may have in any goods you purchase using your Credit Card Account. See Note b. below for Secured Credit Card Accounts.
- Foreign Transactions. All purchases and cash advances will be billed in U.S. dollars. The exchange rate used is either a government-mandated rate or a wholesale rate determined by Mastercard International for the processing cycle in which the transaction is processed. This rate of exchange may differ from the rate that would have been used on the purchase date or cardholder statement posting date.
- Promotions. You may receive special offers related to your Account. If so, we will tell you how those offers will work and how long they will last. Any special offer is subject to the terms of this Agreement, unless we explain otherwise in the offer.
- Payments. Each month you must pay at least the minimum periodic payment due on your billing statement by the due date specified. If you make extra payments or larger payments, you are still required to make at least the minimum periodic payment each month your Account has a balance other than a credit balance. The minimum periodic payment is 1.50% of your total new balance, but not less than $25.00, plus the amount of any unpaid prior payments due. The Credit Union also reserves the right to demand immediate payment of any amount by which you are over your credit limit.
- Payment Instructions. You agree to pay us amounts you owe in U.S. dollars. You must use a check, money order or electronic debit drawn on a U.S. bank or a foreign bank branch in the U.S. We may not accept a cash payment received through the mail. For mailed payments, your billing statement provides instructions about how, when and where to make your payments. You must follow these instructions. Your payment will not be credited to your Account before we receive it at the address we specify for receipt of payments and in accordance with the payment instructions. If you make a payment marked as paid in full or indicate that it is to pay all amounts you owe us, we may accept this payment and not agree that it pays all amounts you owe on your Account. Also, we may return this payment to you and you will still owe us the amount of the payment or any other amounts owed on your Account. You authorize us to collect any payment check either electronically or by draft. Funds may be taken from your financial institution account on the same day we receive your payment. We may allow you to make payments electronically through the Internet or by phone, at a Credit Union branch, or by using our Credit Card Automatic Payment feature.
- Payment Allocation. Unless applicable laws specifically require otherwise, we credit payments as of the date received, if the payment is: (a) delivered by 5 p.m. Eastern Time (ET) at the address shown on the remittance slip on the front of your monthly billing statement; (b) paid with a check drawn in U.S. dollars on a U.S. financial institution or a U.S. dollar money order; (c) sent in the return envelope with only the remittance portion of your statement accompanying it; (d) made by electronic means through the Internet by 5.m. ET; or (e) made in person at a branch location by branch closing or 5 p.m. local time, whichever is earlier. Payments received after 5 p.m. on any day including the Payment Due Date, but that otherwise meet the above requirements; will be credited as of the next day. Credit for any other payments may be delayed. Subject to applicable law, your payments may be applied to what you owe the Credit Union in any manner the Credit Union chooses. However, in every case, in the event you make a payment in excess of the required minimum periodic payment, the Credit Union will allocate the excess amount first to the balance with the highest annual percentage rate and any remaining portion to the other balances in descending order based on applicable annual percentage rate.
- Skip Payment Option. At our discretion, we may offer you the opportunity to not make ("Skip") a minimum periodic payment during certain designated cycles ("Skip Payment Period"). If you do not make your minimum periodic payment as provided in this Agreement, during such designated billing cycle, you understand that we will continue to apply Finance Charges to your Account. Beginning with the billing cycle following an allowed Skip Payment Period, all other provisions of this Agreement will apply. We have no obligation to accept your application for any Skip Payment Period offered, and you authorize us to investigate your creditworthiness including obtaining consumer credit reports. We may charge you a skip pay fee for each Skip Payment Period that we may offer to cover our cost of investigating your qualifications for this extension, including (but not limited to) the costs associated with researching your creditworthiness. The payoff table on your monthly statement for the skip payment month may reflect a negative amortization.
- General Terms Governing Your Payments. To protect you and us, the Credit Union, in its sole discretion, may place a temporary freeze on all or part of the credit available to you for new Purchases or Cash Advances, under this Agreement any time the Credit Union receives a large payment. In such cases, the Credit Union may freeze your credit limit until payment is actually collected by the Credit Union.
- Automatic Charges. You may allow others to automatically charge repeat transactions to your Account. You will be responsible for making new arrangements to make those payments if they are stopped for any reasons, such as your Account is closed or suspended, or your Account number, expiration date and/or 3-digit security code changes.
- Default. Your Account may be in default if any of the following applies: (a) we do not receive at least the minimum periodic payment by the date due as shown on your billing statement; (b) you exceed your credit line; (c) you fail to comply with the terms of this Agreement or any other agreement with us or one of our related companies; (d) we obtain information that causes us to believe that you may be unwilling or unable to pay your debts to us or to others on time; (e) you file for bankruptcy; (f) if you make any false or misleading statements in any credit application or credit update; or (g) you become incapacitated or die. If your Account is in default, we may close your Account without notice and require you to pay your unpaid balance immediately. To the extent permitted by law, if any legal action is required to enforce any provision of the Agreement and Disclosure or to recover money owed by you, you agree to pay all costs, including collection costs, attorney’s fees, court costs, and any other charges incurred while enforcing our rights under this Agreement.
- Fees. In addition to the periodic rate, the following fees may be imposed on your Account. The fee amounts are listed on your Disclosure. Any fee change will be made pursuant to applicable law. a) Foreign Transaction Fee (finance charge). If your Account is subject to a Foreign Transaction Fee, a fee may be charged to your Account for transactions made outside of the United States or in a foreign currency.
- Illegal Transactions. You warrant and agree that your Card, other access device or any related account will not be used to make or facilitate any illegal transaction(s) as determined by applicable law, and that any such use, including any such authorized use, will constitute an event of default under this Agreement. Certain federal and/or state laws or Mastercard Association Rules may limit or prohibit certain transactions such as (but not limited to) those coded as possible gambling transactions. We may decline to accept, process or pay any transaction that we believe to be illegal or unenforceable (regarding your obligation to pay us or otherwise) under applicable law, or which is otherwise limited or prohibited, including (but not limited to) any transaction involving or relating to any gambling activity. Such limitations or prohibitions may affect some otherwise proper or allowable transactions such as charges incurred at a hotel-casino. You understand and agree such limitations/prohibitions are not within our control and that we will not have any liability, responsibility or culpability whatsoever for any such use by you or any authorized user(s), or for declining to accept, process, or pay any such transaction. You further agree to indemnify and hold us harmless from any suits, liability, damages or adverse action of any kind that results directly or indirectly from any such use of your Account and/or access devices.
- 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 which will be posted to your Account. If your credits and payments exceed what you owe us, the amount will be applied against future Purchases and Cash Advances. If the amount is $1.00 or more, it will be refunded upon your request or automatically no later than six (6) months after the posting date.
- Merchant Disputes. We are not responsible for the refusal of any merchant or financial institution to honor the Card. The Credit Union is subject to claims and defenses (other than tort claims) arising out of goods or services you Purchase with the Card, if you have made a good faith attempt, but have been unable to obtain satisfaction from the merchant or service provider, and (a) your Purchase was made in response to an advertisement we sent or participated in sending to you, or (b) your Purchase costs more than $50.00 and was made in your state or within 100 miles of your home.
- Responsibility and Liability for Unauthorized Use. You may be liable for the unauthorized use of your Account. If you lose or someone steals your Card or any other means to access your Account, or if you think someone has used your Account without your permission, immediately inform Card Services. You will not be liable for unauthorized use that occurs after you notify Card Services orally or in writing of the loss, theft, or possible unauthorized use at P.O. Box 10409, Des Moines, IA 50306-0409, 812-855-7823 or 888-855-MYCU. If notice is given orally, you will promptly confirm it in writing. We may require you to provide us certain information in writing to help us investigate any unauthorized use. Further, you agree to cooperate and assist us or any government or law enforcement agent or agency in investigating, collecting or pursuing any other rights (civil and criminal) relating to any unauthorized use. In this regard, you agree to file an appropriate police report when asked to do so. Do not use the Card or the convenience checks after you have notified us, even if you find them or have them returned to you. You are liable for all transactions that you authorize. We may end your credit privileges and close your Account if we consider it appropriate.
Mastercard Zero Liability: If a transaction is made with your card without your permission, you will have no liability for the transaction provided that:
• You exercised reasonable care in safeguarding your credit card from risk of loss or theft, and
• Upon becoming aware of such loss or theft, you promptly reported the loss or theft to IU Credit Union.
- Closing or Suspending Your Account. Any individual cardholder on your Account without the consent of other cardholders may close your Account at any time by notifying us in writing or verbally as indicated in this Agreement. We may close your Account or suspend your Card privileges or convenience checks at any time without prior notice. We may also reissue a different Card or different convenience checks at any time. You must return the Card and/or convenience checks to us upon request. You agree that the Card and all convenience checks remain the property of the Credit Union. Each Card we issue will have an expiration date. Upon expiration of your Card, your Account will automatically terminate; or we, in our sole discretion, may extend your Agreement and issue a new Card with a new expiration date. If your Account is closed, expires, or your credit privileges are terminated or suspended, you will remain responsible for paying all amounts you owe us according to the terms of this Agreement and any amendments or change in terms. Without limiting the foregoing, we have the right to terminate your line of credit and to demand the return of all Cards, convenience checks and other access devices if we, in our sole discretion, feel that it is insecure for any reason whatsoever, including but not limited to, (a) mismanagement of your Account; (b) failing to safeguard any access device; (c) creation of any credit balances by you that may increase the risk of loss; or (d) failing to cooperate with us or others with regard to any claim of unauthorized use or any other defense to payment under applicable law.
- Credit Review and Release of Information. You authorize us to investigate your credit standing when opening or reviewing your Account. In assessing any increase to your credit line under the provisions in this section, we may, and you authorize us to, review your credit history, including consumer credit reports. You authorize us to disclose information regarding your Account to credit bureaus and creditors who inquire about your credit standing. If you think we have reported information to a credit reporting agency that is not correct, you may write to us using the Card Services address listed on your billing statement. Please include your name, address, card number, telephone number, and a brief description of the problem and a copy of the credit reporting agency report if you have it. We will investigate the matter. If our investigation shows that you are right, we will contact each credit reporting agency to which we reported the information and will request they correct the report. If we disagree with you after our investigation, we will tell you in writing or by telephone. If your Account is eligible for emergency cash and/or emergency card replacement services, and you request such services, you agree that the Credit Union may provide personal information about you that is necessary to provide you with the requested service(s).
- Communications/Change of Information. We can provide cards, billing statements and other communications to you at any mailing address or email address shown in our records. If you change your contact information such as any mailing address, telephone number or email address, you must notify us immediately in writing at the address shown on your billing statement. We may obtain mailing address and email address information from you or third parties, and we may accept mailing address corrections from the United States Postal Service. If more than one person is responsible for this Account, we can provide billing statements and communications to any of you. Notice to one of you will be considered notice to all of you. You all will remain obligated on the Account. You agree to pay any fee(s) for incoming communications from us, and/or outgoing communications to us, without reimbursement from us. You authorize us, or anyone acting on our behalf, to call, email, or send a text message using information you provide or to any number where we reasonably believe we can contact you. These include calls to mobile or similar devices, and calls using automatic telephone dialing systems and/or prerecorded messages. We may also send an email to any address where we reasonably believe we can contact you. Some of the legal purposes for calls and messages include: suspected fraud or identity theft; obtaining information; transactions on or servicing of your Account.
- Telephone Monitoring and Recording. We and our agents may listen to and record your telephone calls with us. You agree that we and our agents may do so, regardless who initiates the telephone call.
- Effect of Agreement. This Agreement is the contract that applies to all transactions on your Account, even though the Purchases, Cash Advances, credits or other slips you sign or receive may contain different terms. You agree to all the terms and fees contained in the Disclosure. We have the right to change the terms of the Agreement for any reason, and in any respect, by adding, deleting or modifying any provision, including APRs, fees, the minimum periodic payment and other terms. We can add a new provision without regard to whether the provision deals with a matter already addressed by this Agreement. In certain circumstances, we are required by law to notify you of changes to the terms of this Agreement, and in other circumstances we may not be required to do so. When required by law to advise you that you have a legal right to reject any changes we make, we will provide an explanation about how to do that. In some circumstances, APRs or other aspects of your Account may change even though the terms of the Account do not change, for example when the Prime Rate changes or a promotional period ends.
- Assignment. We may assign your Account, any amounts you owe us, or any of our rights and obligations under this Agreement to a third party. The assignee will be entitled to any of our rights that we assign to that person.
- No Waiver. The Credit Union can delay enforcing any of its rights any number of times without losing them.
- Additional Benefits/Card Enhancements. The Credit Union may from time to time offer additional services to your Account, such as rewards or rebates at no additional cost to you. You understand that the Credit Union is not obligated to continue or to offer such services and may withdraw or change them at any time. If these benefits are withdrawn prior to any accrued use by you, the Credit Union will have no obligation to provide the benefit or enhancement, or any other compensation or consideration. Any accrued benefits will expire when an Account is closed. Benefits cannot be transferred between card products.
- Personal Identification Number (PIN). We will furnish you with a Personal Identification Number (PIN) upon your request. You agree to keep the PIN confidential. You also agree you won’t write the PIN on the Card or anything you keep with the Card. You agree that your use of the PIN and Card in getting a Cash Advance constitutes your signature for purposes of such a transaction.
- Governing Law. The terms and enforcement of the Agreement and your Account shall be governed and interpreted in accordance with federal law, and to the extent state law applies without regard to conflict-of-law principles.
- Notice of Negative Information. Federal law requires us to provide the following notice to cardholders before any negative information may be furnished to a nationwide consumer reporting agency: We may report information about your Account to credit bureaus. Late payments, missed payments, or other defaults on your Account may be reflected in your credit report.
- Notification Information for Reporting Lost, Stolen and Unauthorized Use of Card or Account. Notify us at once if your Card has been stolen or if you suspect that your card is being used without your permission at the following:
Telephone: 812-855-7823 OR 888-855-MYCU (6928)
Notes for Secured Credit Card Product only:
a. You agree that your balance will not exceed the credit limit set for your Secured Credit Card Account.
b. Your Secured Credit Card Account will be secured by a written pledge of a share account balance amount equivalent to your Secured Card Account credit limit. You may not withdraw amounts that have been specifically pledged to secure your Credit Card Account until the Credit Union agrees to release all or part of the pledged amount.
b) ATM Fee. If your Account is subject to an ATM fee, the fee will be charged to your Account when you use your Card at an ATM.
c) Late Payment Fee. If your Account is subject to a Late Payment fee, the fee will be charged to your Account when you do not make the required minimum periodic payment by or within the number of days of the statement Payment Due Date set forth on the Disclosure.
d) Returned Payment Fee. If your Account is subject to a Returned Payment Fee, the fee will be charged to your Account when a payment is returned for any reason.
e) Statement Copy Fee. If your Account is subject to a Statement Copy Fee, a fee may be charged to your Account for each page of your statement that you request.
YOUR BILLING RIGHTS
KEEP THIS NOTICE 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:
P.O. Box 10409
Des Moines, IA 50306-0409
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 3 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. 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:
• 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.
• 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:
• 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.)
• 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. • 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 at:
P.O. Box 10409
Des Moines, IA 50306-0409
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.