Common use of Skip Payment Option Clause in Contracts

Skip Payment Option. At our option, we may offer you the opportunity to not make (“skip”) a minimum payment during certain designated billing cycles (“skip payment period”). If you do not make your minimum payments as provided in this Agreement during such designated billing cycles, you understand that we will continue to apply Interest 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 an application processing fee when disclosed for each skip payment period we may offer to cover our costs of investigating your qualifications for this extension including but not limited to the costs associated with researching your creditworthiness. Modifications to required minimum monthly payments: We may allow you, from time to time, to omit a monthly payment or make a reduced payment. We will notify you when these options are available. This will only occur on an isolated basis, such as when the Credit Union is working with borrowers affected by a state or federally declared disaster. If in response to such notification, you may omit a payment or make a reduced payment, while interest charges, applicable fees, and other regular transactions, if any, will accrue on your account balances in accordance with this Agreement. The reduced payment amount may be less than your interest charges. You must make the reduced payment on time to avoid a Late Fee. You must resume making your regular Total Minimum Payment Due each month following any modifications made to your required minimum monthly payment. Optional Purchase Rewards Program (CU Rewards): Participation in the travel/merchandise purchase point rewards program is automatic with this Visa credit card program. You understand and agree we are not obligated to continue or to offer such a program. We reserve the right to change the program and/or any third party program servicer with or without conversion of points, privileges, point accruals, redemption periods, etc. If benefits are withdrawn prior to any accrued use by you, we have no obligation to provide any benefit, enhancement, consideration or compensation to you or anyone. Program rules are provided by the program servicer and you agree to abide by those terms of use as amended from time to time. VISA Account Updater (VAU): VAU is 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 relevant card data (card numbers and expiration dates) to merchants who participate in an effort to facilitate uninterrupted processing of your recurring charges. Visa only sends updated card numbers and expiration dates. No other personal information is sent. If your name or address changes you will need to personally update merchants with those changes. The database is accessed by those qualified merchants seeking your account information after you requested they process a recurring payment or payments. This service is provided as a free benefit to you. Limitation of Lawsuits: You agree that any lawsuit based on a cause of action against us must be filed within one year from the date it arises or you shall be barred from filing any lawsuit. This limitation includes tort, contract and all other causes of action for which you and we may lawfully contract to limit. When Traveling: Because card fraud continues to increase at an alarming pace the Credit Union takes extensive measures to minimize and prevent fraud. There are precautionary measures you should take as well: • Notify the Credit Union of your extensive domestic or international travel plans • Inquire about potential blocking of transactions in certain countries or locales • Test your card and PIN before traveling • Verify your card will not expire during your travels • Carry alternative payment methods—travelers checks, additional credit or debit cards, etc. • Do not pack or carry all payment methods in one place—put one in your wallet and another in your suitcase, etc. • Remain alert to pickpockets • Photocopy all payment methods, front and back, and keep copies on hand and at home

Skip Payment Option. At our option, we may offer you the opportunity to not make (“skip”) a minimum payment during certain designated billing cycles (“skip payment period”). If you do not make your minimum payments as provided in this Agreement during such designated billing cycles, you understand that we will continue to apply Interest 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 an application processing fee when disclosed for each skip payment period we may offer to cover our costs of investigating your qualifications for this extension including but not limited to the costs associated with researching your creditworthiness. Modifications to required minimum monthly payments: We may allow you, from time to time, to omit a monthly payment or make a reduced payment. We will notify you when these options are available. This will only occur on an isolated basis, such as when the Credit Union is working with borrowers affected by a state or federally declared disaster. If in response to such notification, you may omit a payment or make a reduced payment, while interest charges, applicable fees, and other regular transactions, if any, will accrue on your account balances in accordance with this Agreement. The reduced payment amount may be less than your interest charges. You must make the reduced payment on time to avoid a Late Fee. You must resume making your regular Total Minimum Payment Due each month following any modifications made to your required minimum monthly payment. Optional Purchase Rewards Program (CU Rewards): Participation in the travel/merchandise purchase point rewards program is automatic with this Visa credit card program. You understand and agree we are not obligated to continue or to offer such a program. We reserve the right to change the program and/or any third party program servicer with or without conversion of points, privileges, point accruals, redemption periods, etc. If benefits are withdrawn prior to any accrued use by you, we have no obligation to provide any benefit, enhancement, consideration or compensation to you or anyone. Program rules are provided by the program servicer and you agree to abide by those terms of use as amended from time to time. VISA Account Updater (VAU): VAU is 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 relevant card data (card numbers and expiration dates) to merchants who participate in an effort to facilitate uninterrupted processing of your recurring charges. Visa only sends updated card numbers and expiration dates. No other personal information is sent. If your name or address changes you will need to personally update merchants with those changes. The database is accessed by those qualified merchants seeking your account information after you requested they process a recurring payment or payments. This service is provided as a free benefit to you. Limitation of Lawsuits: You agree that any lawsuit based on a cause of action against us must be filed within one year from the date it arises or you shall be barred from filing any lawsuit. This limitation includes tort, contract contract, and all other causes of action for which you and we may lawfully contract to limit. When Traveling: Because card fraud continues to increase at an alarming pace the Credit Union takes extensive measures to minimize and prevent fraud. There are precautionary measures you should take as well: • Notify the Credit Union of your extensive domestic or international travel plans • Inquire about potential blocking of transactions in certain countries or locales • Test your card and PIN before traveling • Verify your card will not expire during your travels • Carry alternative payment methods—travelers checks, additional credit or debit cards, etc. • Do not pack or carry all payment methods in one place—put one in your wallet and another in your suitcase, etc. • Remain alert to pickpockets • Photocopy all payment methods, front and back, and keep copies on hand and at home

Skip Payment Option. At our option, we may offer you the opportunity to not make (“skip”) a minimum payment during certain designated billing cycles (“skip payment period”). If you do not make your minimum payments as provided in this Agreement during such designated billing cycles, you understand that we will continue to apply Interest 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 an application processing fee when disclosed for each skip payment period we may offer to cover our costs of investigating your qualifications for this extension including but not limited to the costs associated with researching your creditworthiness. Modifications to required minimum monthly payments: We may allow you, from time to time, to omit a monthly payment or make a reduced payment. We will notify you when these options are available. This will only occur on an isolated basis, such as when the Credit Union is working with borrowers affected by a state or federally declared disaster. If in response to such notification, you may omit a payment or make a reduced payment, while interest charges, applicable fees, and other regular transactions, if any, will accrue on your account balances in accordance with this Agreement. The reduced payment amount may be less than your interest charges. You must make the reduced payment on time to avoid a Late Fee. You must resume making your regular Total Minimum Payment Due each month following any modifications made to your required minimum monthly payment. Optional Purchase Rewards Program (CU Rewards): Participation in the travel/merchandise purchase point rewards program is automatic with this Visa credit card program. You understand and agree we are not obligated to continue or to offer such a program. We reserve the right to change the program and/or any third party program servicer with or without conversion of points, privileges, point accruals, redemption periods, etc. If benefits are withdrawn prior to any accrued use by you, we have no obligation to provide any benefit, enhancement, consideration or compensation to you or anyone. Program rules are provided by the program servicer and you agree to abide by those terms of use as amended from time to time. VISA Visa Account Updater (VAU): VAU is 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 relevant card data (card numbers and expiration dates) to merchants who participate in an effort to facilitate uninterrupted processing of your recurring charges. Visa only sends updated card numbers and expiration dates. No other personal information personalinformation is sent. If your name or address changes you will need to personally update merchants with those changes. The database is accessed by those qualified merchants seeking your account information after you requested they process a recurring payment or payments. This service is provided as a free benefit to you. Limitation of Lawsuits: You agree that any lawsuit based on a cause of action against us must be filed within one year from the date it arises or you shall be barred from filing any lawsuit. This limitation includes tort, contract and all other causes of action for which you and we may lawfully contract to limit. When Traveling: Because card fraud continues to increase at an alarming pace the Credit Union takes extensive measures to minimize and prevent fraud. There are precautionary measures you should take as well: • Notify the Credit Union of your extensive domestic or international travel plans • Inquire about potential blocking of transactions in certain countries or locales • Test your card and PIN before traveling • Verify your card will not expire during your travels • Carry alternative payment methods—travelers checks, additional credit or debit cards, etc. • Do not pack or carry all payment methods in one place—put one in your wallet and another in your suitcase, etc. • Remain alert to pickpockets • Photocopy all payment methods, front and back, and keep copies on hand and at home

Skip Payment Option. At our option, we may offer you the opportunity to not make (“skip”) a minimum payment during certain designated billing cycles (“skip payment period”). If you do not make your minimum payments as provided in this Agreement during such designated billing cycles, you understand that we will continue to apply Interest 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 an application processing fee when disclosed for each skip payment period we may offer to cover our costs of investigating your qualifications for this extension including but not limited to the costs associated with researching your creditworthiness. Modifications to required minimum monthly payments: We may allow you, from time to time, to omit a monthly payment or make a reduced payment. We will notify you when these options are available. This will only occur on an isolated basis, such as when the Credit Union is working with borrowers affected by a state or federally declared disaster. If in response to such notification, you may omit a payment or make a reduced payment, while interest charges, applicable fees, and other regular transactions, if any, will accrue on your account balances in accordance with this Agreement. The reduced payment amount may be less than your interest charges. You must make the reduced payment on time to avoid a Late Fee. You must resume making your regular Total Minimum Payment Due each month following any modifications made to your required minimum monthly payment. Optional Purchase Rewards Program (CU Rewards): Participation in the travel/merchandise purchase point rewards program is automatic with this Visa credit card program. You understand and agree we are not obligated to continue or to offer such a program. We reserve the right to change the program and/or any third party program servicer with or without conversion of points, privileges, point accruals, redemption periods, etc. If benefits are withdrawn prior to any accrued use by you, we have no obligation to provide any benefit, enhancement, consideration or compensation to you or anyone. Program rules are provided by the program servicer and you agree to abide by those terms of use as amended from time to time. VISA Visa Account Updater (VAU): VAU is 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 relevant card data (card numbers and expiration dates) to merchants who participate in an effort to facilitate uninterrupted processing of your recurring charges. Visa only sends updated card numbers and expiration dates. No other personal information is sent. If your name or address changes you will need to personally update merchants with those changes. The database is accessed by those qualified merchants seeking your account information after you requested they process a recurring payment or payments. This service is provided as a free benefit to you. Limitation of Lawsuits: You agree that any lawsuit based on a cause of action against us must be filed within one year from the date it arises or you shall be barred from filing any lawsuit. This limitation includes tort, contract and all other causes of action for which you and we may lawfully contract to limit. When Traveling: Because card fraud continues to increase at an alarming pace the Credit Union takes extensive measures to minimize and prevent fraud. There are precautionary measures you should take as well: • Notify the Credit Union of your extensive domestic or international travel plans • Inquire about potential blocking of transactions in certain countries or locales • Test your card and PIN before traveling • Verify your card will not expire during your travels • Carry alternative payment methods—travelers checks, additional credit or debit cards, etc. • Do not pack or carry all payment methods in one place—put one in your wallet and another in your suitcase, etc. • Remain alert to pickpockets • Photocopy all payment methods, front and back, and keep copies on hand and at home