Common use of Credit Report Clause in Contracts

Credit Report. If you think we reported erroneous information about you to a credit reporting agency, call us at the telephone number listed on your monthly billing statement. We will promptly investigate the matter and will contact each credit reporting agency whose records may reflect an error. We will require them to correct your report if the Advances. For purposes of this Agreement, the term "advance" means cash advance or balance Using Your Card. You can purchase or lease goods and services from any merchant who honors your credit card that we issue you pursuant to this Agreement ("Card"), and you may obtain cash advances from financial institutions and ATM machines that accept the Card, up to your maximum credit limit. You agree not to present your Card or obtain a cash advance for any extension of credit in excess of your available credit limit; however, if you do exceed your credit limit, you agree to make immediate payment sufficient to bring the balance below the credit limit. Certain purchases and cash advances require authorization prior to completion of the transaction. In some cases, you may be asked to provide identification. If our system is not working, we may not be able to authorize a transaction, even though you have sufficient credit available. Also, for security reasons, we may block the use of your Card in certain countries or geographic areas. We will have no liability to you or others if any of these events occur. Account Updating Service. he credit card payment processing network (e.g., Visa, Mastercard) in which we participate has an account updating service in which your Card is automatically enrolled. When your Card(s) expire, are lost or stolen and new Cards are issued, the service may update your Card data such as Card numbers and expiration dates to the processing network’s database. Participating merchants to whom you have authorized recurring payments may access this database in an attempt to facilitate uninterrupted processing of your recurring charges. Updates are not guaranteed to be made before your next payment is due and not all merchants participate in the service; it is your responsibility to make your payments until recurring payments can be resumed. This service is provided as a free benefit to you. The Credit Union has no responsibility for the accuracy or timeliness of the account updating service or its database. If at any time you wish to opt-out of the account updating service or if you have any questions, please call us at 000-000-0000. Personal Identification Number (PIN). We may issue a Personal Identification Number (PIN) for use with your Card. This PIN is confidential and should not be disclosed to anyone. You may use your PIN and Card to access your Account, and all sums advanced will be added to your Account balance. In the event a use of your PIN constitutes an Electronic Funds Transfer, the terms and conditions of your Electronic Funds Transfer Agreement as provided in the most current version of the Membership Agreement, may affect your rights. Promise To Pay. You promise to pay us in U.S. dollars for (a) all purchases, cash advances, and balance transfers made by you or anyone whom you authorize to use the Card; (b) all Interest Charges (defined hereinafter) and all other charges or fees; (c) collection costs and attorney's fees as permitted by applicable law, and any costs incurred in the recovery of the Card; and (d) credit in excess of your credit limit that we may extend to you. Credit Limit. Your maximum credit limit will be disclosed at the time of loan disbursal and on your monthly billing statement. At our discretion, we may change your credit limit at any time, and may provide separate limits for purchases and for cash advances. We will notify you if we do, either by mail or through your monthly billing statement. For a credit limit increase, your continued use of the Card will show your agreement to any such increase. If you object to an increase in your credit limit, you must notify us in writing. Upon receipt of such notice, your credit limit will be reduced to

Credit Report. If you think we reported erroneous information about you to a credit reporting agency, call us at the telephone number listed on your monthly billing statement. We will promptly investigate the matter and will contact each credit reporting agency whose records may reflect an error. We will require them to correct your report if the investigation determines there is an error. If we disagree with you after the investigation, we will advise you, in writing or by telephone, and provide you instruction as to submitting to those agencies a statement of your position that will become a part of your credit record with them. Automatic Payment Transfer Option. If you request the automatic payment transfer option, all Advances. For purposes of this Agreement, the term "advance" means cash advance or balance transfer. Using Your Card. You can purchase or lease goods and services from any merchant who honors your credit card that we issue you pursuant to this Agreement ("Card"), and you may obtain cash advances from financial institutions and ATM machines that accept the Card, up to your maximum credit limit. You agree not to present your Card or obtain a cash advance for any extension of credit in excess of your available credit limit; however, if you do exceed your credit limit, you agree to make immediate payment sufficient to bring the balance below the credit limit. Certain purchases and cash advances require authorization prior to completion of the transaction. In some cases, you may be asked to provide identification. If our system is not working, we may not be able to authorize a transaction, even though you have sufficient credit available. Also, for security reasons, we may block the use of your Card in certain countries or geographic areas. We will have no liability to you or others if any of these events occur. Account Updating Service. he The credit card payment processing network (e.g., Visa, Mastercard) in which we participate has an account updating service in which your Card is automatically enrolled. When your Card(s) expire, are lost or stolen and new Cards are issued, the service may update your Card data such as Card numbers and expiration dates to the processing network’s database. Participating merchants to whom you have authorized recurring payments may access this database in an attempt to facilitate uninterrupted processing of your recurring charges. Updates are not guaranteed to be made before your next payment is due and not all merchants participate in the service; it is your responsibility to make your payments until recurring payments can be resumed. This service is provided as a free benefit to you. The Credit Union has no responsibility for the accuracy or timeliness of the account updating service or its database. If at any time you wish to opt-out of the account updating service or if you have any questions, please call us at 000-000-0000. Personal Identification Number (PIN). We may issue a Personal Identification Number (PIN) for use with your Card. This PIN is confidential and should not be disclosed to anyone. You may use your PIN and Card to access your Account, and all sums advanced will be added to your Account balance. In the event a use of your PIN constitutes an Electronic Funds Transfer, the terms and conditions of your Electronic Funds Transfer Agreement Agreement, as provided in the most current version of the Membership Agreement, may affect your rights. Promise To Pay. You promise to pay us in U.S. dollars for (a) all purchases, cash advances, and balance transfers made by you or anyone whom you authorize to use the Card; (b) all Interest Charges (defined hereinafter) and all other charges or fees; (c) collection costs and attorney's fees as permitted by applicable law, and any costs incurred in the recovery of the Card; and (d) credit in excess of your credit limit that we may extend to you. Credit Limit. Your maximum credit limit will be disclosed at the time of loan disbursal and on your monthly billing statement. At our discretion, we may change your credit limit at any time, and may provide separate limits for purchases and for cash advances. We will notify you if we do, either by mail or through your monthly billing statement. For a credit limit increase, your continued use of the Card will show your agreement to any such increase. If you object to an increase in your credit limit, you must notify us in writing. Upon receipt of such notice, your credit limit will be reduced toto its prior limit; however, you will be responsible to pay promptly any amounts by which you have exceeded the reduced limit. You agree to pay any amounts you owe that exceed your maximum credit limit upon demand.