GEMC Credit Union Student Secured Visa Application

* Required Fields

Agreement:

I agree

What is your desired credit line?

Last Name:

First:

Middle:

Date of Birth:

/ /

SSN:

Driver's License No.:

State:

Member No.:

Email::

Where did you attend school?

Present Address:

City:

State:

Zip Code:

How Long There:

Telephone No.:

Cell Phone No.:

Previous Address:

City:

State:

Zip Code:

How Long There:

No. of Dependents:

Marital Status:

Married

Single

Divorced

Employers Name:

Employers Address:

Employers Phone No.:

Position/Occupation:

Pay Frequency::

Weekly

Bi-Weekly

Semi-Mo.

Monthly

Years Employed:

Gross Income:

Previous Employer:

Other Income:

Other Income Source:

Last Name:

First:

Middle:

Address:

City:

State:

Zip:

Telephone No.:

Relationship:

Are You A U.S. Citizen or Permanent Alien?

Yes

No

DO YOU CURRENTLY HAVE ANY OUTSTANDING JUDGEMENTS OR HAVE YOU EVER FILED FOR BANKRUPTCY, HAD A DEBT ADJUSTMENT PLAN CONFIRMED UNDER CHAPTER 13, HAD PROPERTY FORE CLOSED UPON OR REPOSSESSED IN THE LAST 7 YEARS, OR BEEN A PARTY IN A LAWSUIT?

Yes

No

If Yes, please explain::

Are you a U.S. Citizen or Permanent Alien?

Yes

No

DO YOU CURRENTLY HAVE ANY OUTSTANDING JUDGEMENTS OR HAVE YOU EVER FILED FOR BANKRUPTCY, HAD A DEBT ADJUSTMENT PLAN CONFIRMED UNDER CHAPTER 13, HAD PROPERTY FORE CLOSED UPON OR REPOSSESSED IN THE LAST 7 YEARS, OR BEEN A PARTY IN A LAWSUIT?

Yes

No

If Yes, please explain::

Savings Pledge:

By check this box, I pledge the balance on deposit in my savings account type 05 at GEMC Credit Union as security for my VISA Credit Card account. I understand this deposit in savings account type 05 will not be available to me for use until the VISA Credit Card is satisfactorily closed. I authorized GEMC Credit Union to apply this account balance to my credit card balance if I am in default.

Signature:

By submitting this application to the Credit Union, I/we promise that everything is correct to the best of my/our. I/we authorize the Credit Union to obtain credit reports in connection with this application for credit and for any update, renewal or extension of the credit received. I/we understand that the Credit Union will rely on both the representations I/we make in this application and the contents of any credit report it obtains when deciding whether to grant the credit requested. I/we agree to immediately notify you of changes to any of the information provided in this application. I/we agree that my/our account will be subject to the terms and conditions of all applicable agreements and disclosures that will accompany my cards when issued; and that a photocopy or facsimile of this application shall be as binding as the original.

By submitting this application electronically, I/we agree to the same terms that apply to a signed application. If there is a co-applicant on this loan, that co-applicant has authorized the submission of this application. This electronic submission qualifies as my/our signature.

I understand that I must have a GEMC CU savings account that will be used as collateral for the VISA secured credit card. I understand I will not be able to make any withdrawals from the GEMC CU savings account while it secures this credit card. The balance required for the GEMC CU savings account will be 125% of the VISA credit limit.

Signature::

Date::

/ /

VISA Updater OPT OUT:

Whenever you receive a new, or renewed, VISA card, your old card's information (i.e., card number and expiration date) will automatically update to the new card's number and expiration date - for participating merchants with whom you maintain your card on file for recurring payments. YOU MAY OPT OUT: By checking the box, I wish to opt out of VISA Account Updater (VAU) for my GEMC CU Credit Card. I understand it will be my responsibility to notify merchants, who maintain my card on file information for recurring payments with any updated information regarding my GEMC CU Credit Card.

Security Code:

	Student Secured Visa Credit Card
Annual Percentage Rate (APR) for Purchases	11.90% Rate is based on creditworthiness.
APR for Balance Transfers	11.90%
APR for Cash Advances	11.90%
Penalty APR and when it Applies	11.90%
How to Avoid Paying Interest on Purchases	11.90%
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 interest on purchases if you pay your entire balance by the due date each month.
Paying Interest (Cash Advances)	We will begin to charge interest on Cash Advances from the date of 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.
Minimum Interest Charge	There are no minimum finance charges.
For Credit Card Tips from the CFPB	To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau (CFPB) at http://www.consumerfinance.gov/learnmore/

FEES
Annual Fee	None
Transaction Fees
Balance Transfer Cash Advances Foreign Transaction Visa International Assessment Fee	None None A fee of 1% of the amount of the transaction made in foreign countries and 0.8% of the amount of the transaction made in U.S. dollars in foreign countries will be imposed on all foreign transactions. Including purchases, cash advances and credits to your account. For more information on the Visa International Assessment Fee, please refer to Section 15 (Foreign Transactions) of the Visa Credit Card Agreement.
Penalty Fees
Late Payment Returned Payment	$20.00 $20.00
Other Fees	None
How We Will Calculate Your Balance	We use a method called "Average Daily Balance (including new purchases)"
A finance charge will be imposed on Credit Purchases only if you elect not to pay the entire New Balance shown on your monthly statement for the previous billing cycle within 25 days from the closing date of that statement. If you elect to pay the entire New Balance shown on your previous monthly statement within that 25-day period, a Finance Charge will be imposed on the unpaid average daily balance of such Credit Purchases from the previous statement closing date and on new Credit Purchases from the date of posting to your account during the current billing cycle, and will continue to accrue until the closing date of the billing cycle preceding the date on which the entire New Balance is paid in full or until the date of payment if more than 25 days from the closing date. The Finance Charge for a billing cycle is computed by applying the monthly Periodic Rate to the average daily balance of Credit Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. Each daily balance of Credit Purchases is determined by adding the outstanding unpaid balance of Credit Purchases at the beginning of the billing cycle to any new Credit Purchases posted to your account, and subtracting any payments as received and credits as posted to your account, but excluding any unpaid Finance Charges. A finance charge will be assessed on cash advances from the date of the cash advance, or the first day of the billing cycle in which the cash advance is posted, whichever is later, and will continue to accrue until payment in full is made. Cash Advances will be calculated in the same manner as explained for Credit Purchases

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Student Secured Visa Application

Interest Rates and Interest Charges

FEES

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