Common use of Entire Balance Due Clause in Contracts

Entire Balance Due. If any of the above events of default should occur, my entire outstanding balance shall immediately become due and payable, without Credit Union notifying me, with interest due on the balance at the applicable APR as provided herein per year until paid, and Credit Union’s obligations to honor my use of the card to get credit extensions from anyone or to make further advances to me shall, at Credit Union’s option, and without notice, immediately end. If I fail to pay the outstanding balance immediately, on Credit Union’s demand, I agree to pay all of Credit Union’s collection expenses, including Credit Union’s reasonable attorney’s fees. On all international purchases, credit vouchers, and cash disbursements (which would include credit purchases and cash advances), i.e. all transactions where a merchant country differs from the country of the card issuer (1) the foreign exchange rate which will be charged will be a rate selected by VISA from the range of rates available in wholesale currency markets for the applicable processing date (which may vary from the rate VISA itself receives) or the government mandated rate in effect for the applicable central processing date and (2) in addition, a one percent (1%) International Service Assessment (ISA) fee will be charged. A credit card may not be used for an illegal transaction. Certain transactions are prohibited from being processed through your account with the Credit Union under the Unlawful Internet Gambling Enforcement Act of 2006 (“the Act”) and related regulations issued by the Board of Governors of the Federal Reserve System and the United States Department of the Treasury (“Regulation GG”). The Credit Union is required by the Act and Regulation GG to inform you of this restriction. The transactions which are prohibited are the following transactions or transmittals involving any credit, funds, instrument, or proceeds that the Act prohibits any person engaged in the business of betting or wagering (except for the activities of a financial transaction provider, or any interactive computer service or telecommunications service) from knowingly accepting, in connection with the participation of another person in unlawful Internet gambling: ■ Credit, or the proceeds of credit, extended to or on behalf of such person (including credit extended through the use of a credit card); ■ An electronic fund transfer, or funds transmitted by or through a money transmitting business, or the proceeds of an electronic fund transfer or money transmitting service, from or on behalf of such other person; and ■ Any check, draft, or similar instrument that is drawn by or on behalf of such other person and is drawn on or payable at or through any financial institution. Internet gambling will generally be deemed to be unlawful unless it is expressly authorized by license issued by an appropriate State or Tribal authority. Since Credit Union has the sole right to approve my application and allow me to use the card(s) now and in the future, I authorize Credit Union at any time to make or have made whatever credit investigation Credit Union feels is proper to evaluate my credit, personal or financial standing and /or employment, and I authorize Credit Union to share my credit experience with credit bureaus. I also agree to furnish Credit Union current financial statements in such details as Credit Union may require on an annual basis and more frequently at Credit Union’s request. For the purpose of the following sections only, “You”/”Your” means all persons who have signed the application for Visa and used or permitted others to use the card; and “Us”/”We” means Tinker Federal Credit Union of PO Box 45750, Tinker Air Force Base, Oklahoma 73145.