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Cardholders Terms of Use - VISA

 

The following are terms and conditions relating to the VISA Card service, and are provided to VISA Card issuers. This document does not constitute legal advice to issuers or any other party from VISA or its counsel. VISA Card makes no representation or warranty regarding the effect of this language under federal law or the laws of any state. The following may not represent a complete list of terms and conditions or content or content necessary or advisable for Members. These provisions would affect the issuer's legal rights and responsibilities.

 Interest Rates and Interest Charges                Visa              
Visa Gold
Annual Percentage Rate (APR) for purchases

11.15%
Variable-Rate determined by adding
7.90% to the Prime Rate*

12.90%
Fixed
APR for Cash Advances

11.15%
Variable-Rate determined by adding
7.90% to the Prime Rate*

12.90%
Fixed
Penalty APR and When it Applies None
Paying Interest Your due date is at least  25 days after the close of each billing cycle. We will not charge you interest on retail purchases if you pay your entire balance by the due date. We will begin charging interest on cash advances on the transaction date. We do not offer balance transfers.
Minimum Interest Charge   If you are charged interest, the charge will be no less than $1.00
For Credit Card Tips from the Consumer Financial Protection Bureau To learn more about factors to consider when applying for or using a credit card, visit the web site of the Consumer Financial Protection Bureau at  http://www.consumerfinance.gov/learnmore .

Fees

Visa

Visa Gold

Annual Fee $35.00 - Waived if applicant has an account with
First National Bank

Transaction Fees

  • Cash Advances
  • Foreign Transaction

$2.00
or 2.0% of the amount advanced.

1.0%

Penalty Fees

  • Late Payment
  • Over-the-Credit-Limit
  • Returned Payment
 

If the minimum required payment is not received within 7 days after the closing date subsequent to the payment due date, a late payment fee of $25.00 will be imposed.

None

$21.00

Other Fees

  • Pay by Phone

$6.00
*The prime rate used to determine your APR is the rate published in the Wall Street Journal on the first day of the prior month.
How We Will Calculate Your Balance: We use a method called "average daily balance" (including new purchases). *An explanation of this method is provided in your account agreement.
Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement.
KY, OH, MI, TN Fees Disclosed and Calculated as Finance Charge.
The information about the cost of the card described above is accurate as of November 22, 2010. The above information is subject to change by First National Bank in New Bremen.
 

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT:

To help the government fight the funding of terrorism and money laundering activities, the USA Patriot Act requires all financial institutions to obtain, verify, and record information that identifies each person (including business entities) who opens an account.

What this means for you: When you open an account, we will ask for your name, physical address, date of birth, and other information that will allow us to identify you. We may also ask for other identifying documents. We will let you know if additional information is required.

Married applicants may apply for a separate Account in their own names.

OHIO RESIDENTS:

The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy customers and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.

NOTICE TO MARRIED WISCONSIN APPLICANTS:

No provision of any marital property agreement, unilateral statement or court decree adversely affects our interests and/or rights unless, prior to the time the credit is granted or an open-end credit plan is entered into, we are furnished with a copy of the agreement, statement, or decree, or have actual knowledge of the adverse provision. Married Wisconsin residents applying for credit separately must furnish name, address of their spouse to First National Bank in New Bremen at 435 S. Washington St. P.O. Box 68 New Bremen, Ohio 45869-0068.

CALIFORNIA RESIDENTS:

The applicant, if married, may apply for a separate account. After credit approval, each applicant shall have the right to use this account to the extent of any credit limit set by the creditor and each applicant may be liable for all amounts of credit extended under this account to each joint applicant.

NEW YORK RESIDENTS:

New York residents may contact the New York State Banking Department to obtain a comparative listing of credit card rates, fees and grace periods. New York State Banking Department: 1-877-226-5697.

  1. The only FINANCE CHARGES assessed on your account other than those assessed by a periodic rate, will be transaction FINANCE CHARGES in connection with Cash Advances, or International Transactions Fees (i.e. cross-border and/or currency conversion fees) of up to 1%, which may qualify as a FINANCE CHARGE, if part of your plan. Transactions FINANCE CHARGE for each Cash Advance will be imposed on the date the Cash Advance was posted to your account. No grace period applies on any transaction FINANCE CHARGE imposed for Cash Advances.
  2. Documentary stamp taxes as may be required by law shall be imposed on each Cash Advance at the time the loan is made.
  3. The annual fee shall be treated as a Credit Purchase for purposes of calculating FINANCE CHARGES, unless prohibited by law.
  4. In California a maximum of $10 in Over Limit Fee may be imposed with respect to any charge that causes the outstanding balance to exceed the credit limit by $500 or 120 percent, whichever is less. No more than one over limit charge may be assessed within a single monthly billing cycle.
  5. If you have other loans or credit extensions from Issuer, or take out other loans or credit extensions with Issuer in the future, collateral securing those loans or credit extensions will also secure your obligations under this agreement. However, unless you expressly agree otherwise, your household goods and dwelling will not secure your obligations under this agreement even if Issuer has, or later acquires, a security interest in the household goods or a mortgage on the dwelling. If you have executed a written agreement granting a security interest in any deposit accounts (checking, savings, or share accounts) or other funds held by Issuer to secure your obligations under this credit card plan, such accounts and/or funds are additional security for your obligations to Issuer arising from the use of your Card.

PERIODIC FINANCE CHARGE CALCULATION METHODS

The periodic Finance Charge Calculation Method applicable to your account for Cash Advances and Credit purchases of goods and services that you obtain through the use of your Card is specified in Section 1 on the Disclosure on the reverse side and explained below:

  • Method A - Average Daily Balance (including current transactions). The Finance Charge on purchases begins from the date the transaction is posted to your account and the Finance Charge on cash advances begins from the date you obtain the cash advance, or the first day of the billing cycle in which it is posted to your account, whichever is later. There is no grace period.
  • The Finance Charges for a billing cycle are computed by applying the monthly Periodic Rate to the "average daily balance" of your account. To get the average daily balance, we take the beginning balance of your account each day, add any new purchases or cash advances, and subtract any payments, credits, non-accruing fees, and unpaid finance charges. 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.
  • Method E - Average Daily Balance (excluding current transactions). To avoid incurring an additional Finance Charge on the balance of purchases (and cash advances if Method E is specified as applicable to cash advances) reflected on your monthly statement, you must pay the New Balance shown on your statement on or before the Payment Due Date. The grace period for the New Balance of purchases extends to the Payment Due Date.
  • The Finance Charges for a billing cycle are computed by applying the monthly Periodic Rate to the "average daily balance" of purchases (and if applicable, cash advances). To get the average daily balance, we take the beginning balance of your account each day and subtract any payments, credits, non-accruing fees, and unpaid finance charges. We do not add in new purchase or cash advances. 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.
  • Method F - Average Daily Balance (including current transactions). To avoid incurring an additional Finance Charge on the beginning balance of cash advances (and purchases, if Method F is specified as applicable to purchases) reflected on your monthly statement, you must pay the Beginning Balance shown on your monthly statement on or before the Payment Due Date. No grace period is provided for current cycle transactions.
  • The Finance Charges for a billing cycle are computed by applying the monthly Periodic Rate to the "average daily balance" of cash advances (and if applicable purchases). To get the average daily balance, we take the beginning balance of your account each day, add any new purchases or cash advances, and subtract any payments, credits, non-accruing fees, and unpaid finance charges. 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.
  • Method G - Average Daily Balance (including current transactions). To avoid incurring an addition Finance Charge on the balance of purchase (and cash advances, if Method G is specified as applicable to cash advances) reflected on your monthly statement and, on any new purchases (and if applicable cash advances) appearing on your next monthly statement, you must pay the New Balance, shown on your monthly statement, on or before the Payment Due Date. The grace period for the New Balance of purchases extends to the Payment Due Date.
  • The Finance Charges for a billing cycle are computed by applying the monthly Periodic Rate to the "average daily balance" of purchases (and if applicable, cash advances). To get the average daily balance, we take the beginning balance of your account each day, add any new purchases or cash advances, and subtract any payments, credit, non-accruing fees, and unpaid finances charges. 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.

TERMS GOVERNING THE USE OF YOUR CARD

The person (Cardholder) whose name is embossed on the face of the VISA ("card") and each Cardholder, in the event more than one Card bearing the same account number, by signing or using said Card, receipt of which is acknowledged, agrees with the Issuer of the Card whose name is printed on the reverse ("Issuer") as follows

  1. Goods and services ("Credit Purchases") may be purchased or leased by means of such card by Cardholder from any retail Business establishment ("seller") who honors same upon the execution of a sales slip evidencing such Credit Purchases and bearing the account number of Cardholder embossed on the face of such Card. Additionally, VISA Cash Advances ("Loans") may be obtained through use of such Card (a) upon execution of a written request of Cardholder in a form furnished to Cardholder from any financial institution that is a member, alone or in association with others, of VISA U.S.A. Inc. and (b) upon execution of a written separate agreement with the Issuer for a VISA overdraft financing agreement if offered by Issuer.
  2. Cardholder shall be liable and agrees to pay Issuer for Credit Purchases made by, or for Loans extended to, Cardholder or anyone else using such Card unless the use of such Card is by a person other than the Cardholder (a) who does not have actual, implied or apparent authority for such use, and (b) from which Cardholder receives no benefit. Additionally, Cardholder shall be jointly and severally liable and agrees to pay for all Credit Purchases and Loans obtained through the use of any other Card bearing Cardholder's account number that has been issued to another person by reason of such person being a member of Cardholders family, or otherwise issued upon Cardholder's request (all such Cards bearing the VISA account number hereinafter collectively called ("Related Cards").
  3. Cardholder agrees to pay to Issuer an annual membership fee (as stated in the Disclosures) for participation in the Issuer's credit card plan. Such annual membership fee shall be imposed whether or not Cardholder uses the card to obtain credit purchases and loans. The membership fee shall be charged to Cardholder's account each year in the month of Issuer's choice. The membership fee is not refundable in the event of termination of the account by either Cardholder or Issuer unless otherwise provided for by law.
  4. Each Card is the property of Issuer, is not transferable and must be surrendered upon demand. It can be canceled as well as repossessed by Issuer or its designee, and the privileges thereof revoked, at any time without prior notice.
  5. Cardholder shall not use the Card or permit the use of Related Cards to obtain Credit Purchases or Loans, which will increase Cardholder's indebtedness to Issuer to an amount in excess of the limit established by Issuer.
  6. All Credit Purchases and Loans are effected at the option of the Seller and Cash Advancing Financial Institution respectively, and Issuer shall not be responsible for refusal by any Seller or Cash Advancing Financial Institution to honor the Card or any Related Card. Any refund, adjustment or credit allowed by Seller shall not be by cash but rather by a credit advice to Issuer which shall be shown as a credit on Cardholder's account statement with Issuer.
  7. Issuer will send to Cardholder, at monthly intervals determined by Issuer, a statement reflecting for the prior monthly period all VISA Card and Related Card transactions. Such statement shall be deemed correct and accepted by Cardholder and all holders of Related Card unless Issuer is notified to the contrary in writing within 60 days of mailing of such statement. Cardholder will pay such statement by remitting to Issuer within 25 days of the closing date reflected on the statement either the full amount billed or, at Cardholder's option, an installment equal to at least the required minimum payment stated.
  8. Interest on Loans and Credit Purchases will be charged in accordance with the finance charge calculation method referred to in Section1 of the disclosures on the reverse side. The rate of interest shall be established by Issuer from time to time, but shall never exceed the maximum rate permitted by law. The current interest rate per annum is the Annual percentage Rate set forth in the Disclosures.
  9. If the Card is cancelled or surrender is demanded by Issuer, or if Cardholder defaults in any payment due, or is deceased, bankrupt or insolvent, or any attachment or garnishment proceedings are initiated against Cardholder or his property, Issuer may elect to declare all amounts then owed to Issuer to be immediately due and payable without notice or demand of any kind. If Cardholder has other loans from Issuer, or takes out other loans with Issuer in the future, collateral securing those loans will also secure the Cardholder obligations under this agreement. However, unless the Cardholder expressly agrees otherwise, the Cardholder's household goods and dwelling will not secure Cardholder's obligations under this agreement even if issuer has or later acquires a security interest in the household goods or a mortgage on the dwelling. Cardholder agrees to pay all costs incurred by Issuer in collecting Cardholder's indebtedness or in enforcing this agreement, including reasonable attorney's fees and also those costs, expenses and attorney's fees incurred in appellate, bankruptcy and post-judgment proceedings, except to the extent such costs, fees or expenses are prohibited by law.
  10. This agreement may be amended from time to time by Issuer by written notice mailed to Cardholder at Cardholder's last known address.
  11. Except to the extent that Federal law is applicable, the validity, construction and enforcement of this agreement and all matter's arising out of the issuance and use of the Card shall be governed by the laws of the state in which the principal office of Issuer is located.
  12. Additional charges, plus applicable taxes, may also be assessed if you pay us with a check not honored by your financial institution, request a copy of a document, request a replacement card or use your card for a transaction at an automated teller machine, if such charges are not prohibited by law or regulation. No finance Charge will be assessed on such additional charges.
  13. If it is believed that the Card has been lost or stolen or used in an unauthorized manner, the Cardholder shall contact Issuer AT ONCE, in order to minimize possible losses. In most cases, the Cardholder will not be liable for any unauthorized transactions unless it is determined that the Cardholder was grossly negligent or fraudulent in the handing of the Card. Notification can be made orally or in writing at:
    First National Bank in New Bremen
    435 S. Washington Sr. P.O. Box 68
    New Bremen, Ohio 45869-0068
    Telephone Number
    (419) 629-2761
  14. Cardholder agrees that Issuer, its agents or service companies may monitor and /or record any telephone communications with Cardholder.
  15. Payments must be made to the Issuer in U.S. dollars drawn on a U. S. Financial Institution. If Cardholder incurs charges in any other currency, the charges will be converted into U. S. dollars. The exchange rate for transactions in a foreign currency will be a rate selected by VISA from the range of rate available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate VISA itself receives, or the government mandated rate in effect for the applicable central processing date. All transactions in foreign countries will be subject to a 1% conversion or processing fee.
  16. Issuer shall have sole discretion in how payments are applied to cardholder's account. Issuer may accept checks marked "Payment in Full" or with words of similar effect without losing any of Issuer's rights to collect the full balance of Cardholder's account.
  17. Issuer can reinvestigate and reevaluate any information Cardholder provided on Cardholder's credit application at any time, and in the course of doing so, Issuer may ask Cardholder for additional information, request credit bureau reports and/or otherwise verify Cardholder's current credit standing.
  18. Cardholder agrees that Issuer may re-release information to others, such as credit bureaus, regarding the status and history of Cardholder's account. However, Issuer is not obligated to release any such information to anyone unless Issuer is required by law to do so.
  19. Cardholder agrees that Cardholder's account shall be subject to all applicable rules and regulations of VISA U. S. A. Inc. the rules and regulations of VISA U. S. A. Inc. shall control. Your VISA Card may not be used for any illegal transaction(s).
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