Visa Cards
Visa Platinum Reward Card
FAIR AND REASONABLE: Tri-Town Teachers Federal Credit Union is pleased to announce that interest rates on our very successful Visa Platinum Rewards Card have always been consistently low and we have been in compliance with the provisions of the "Credit Card Bill of Rights" since before it was conceived. This is because we are for our members, not for profit. Our rates are based on the Wall Street Journal Prime Rate with a "floor" rate of 5%. This means that all Tri-Town members in good standing, that maintain an "A" credit rating (over 700 FICO score) get an introductory rate of 7.95% for the first year then 9.25% there-after. Scroll down to the Grading Table with current rates in effect for all credit score categories.
To see what a respected financial publication is saying about the benefits of Credit Union Credit Cards: Click Here.
INTRODUCTORY BONUS AND DOUBLE POINTS: As a special bonus for all members-- YOU GET 1000 BONUS POINTS WHEN YOU SIGN UP FOR OUR CREDIT CARD AND MAKE YOUR FIRST PURCHASE. In addition, for five (5) months each year (traditionally June, July August, November & December) we run our DOUBLE POINTS PROMOTION for purchases on your card. We also provide balance transfers at no additional fees to our members. Call our office to discuss how much you can transfer on balances from other higher interest rate cards.
Activating your new Visa Platinum Rewards Credit Card On line (24/7)
To activate your new credit card on line please click on the button below and follow instructions provided to you at our secure web site:
If you have any problems activating your card please call us at (203) 227-8511 and leave us a message with a telephone number where we can contact you during business hours.
Reporting Lost or Stolen Credit Cards On Line (24/7)
It is extremely important that you report your card lost/stolen as soon as you are aware if it. This blocks your card from making transactions and limits any liability. Please report lost or stolen Visa Platinum Rewards Credit Cards on line by clicking the button below and following the instructions provided on our secure web site:
You should also call us at (203) 227-8511 during business hours to report a lost or stolen card or outside of business hours call VISA anytime at 800-VISA-911 to have your card blocked immediately. If after hours-please call to notify us as well and leave a message on our answering machine that you have reported your card lost/stolen with a telephone number where we can reach you during our next business hours.
Extra Awards Program--Travel, gifts or cash back
With our rewards program you receive one point earned for each dollar spent on purchases, (DOUBLE POINTS for purchases during November and December and June-August too, each year). That means that five(5) months each year members enjoy double points for purchases on our card. Extra Awards points may be redeemed for travel, merchandise, gift certificates or cash back.
- Visit the Extra Awards web site for information on travel, cash or gift certificate redemption and to sign up; or call toll free from US or Canada 877-909-1450 to book travel awards or request merchandise awards.
- Card holders can sign up for their Awards account and may review their Extra Awards account summary on-line-click below .
Verified by Visa
Online purchases made with your Visa Credit Card can be protected by Verified by Visa, so you can be sure your electronic purchases are safe and secure. For more information or to register for Verified by Visa, click here
Other Important Benefits of your Visa Platinum Rewards Card
- No hidden fees, and no annual fee if you accept email notification of statements. Review statements and pay bills on-line using on-line account access.
- Transfer balances up to the maximum amount of your credit limit at your current "purchases" interest rate. Call our office @ 227-8511 for details.
- Zero liability for lost or stolen cards, or unauthorized purchases.
- Year End Statement of all purchases, listed by categories.
- Auto Rental Collision Damage Waiver Coverage.
- When you use our card to rent a car- decline the collision damage waiver (CDW). You are automatically covered for damage due to collision or theft up to the actual cash value of most rental vehicles. Call 1-800-VISA-911 for details. This means that VISA covers the collision deductible for you.
Interest Rates
Our interest rates are based on your credit score. You will be rewarded for having a good credit rating-something we should all strive for. But in no case will our interest rate be more than 17.50%. Check what you are paying on your credit cards today and you will find our rates are better in most cases.
Monthly Payments
The billing cycle for our VISA Credit Card generally runs from the 21st of the month to the 20th of the following month. Payments are due on the 15th of the month for the previous month's bill. You can make payments by transferring funds from a Tri-Town checking or savings account to the credit card, or by sending us a check..
Your credit card account is listed on our secure web-site and you can check balances and activity through the internet - 24/7. Your monthly statement will be on the web-site each month and you can pay us by simply making a transfer-via our On-Line Account Access system. In addition, with payroll deduction, you can set up an automatic transfer to pay your credit card each month. Cut down your bill paying time by charging bills to this credit card (cell phone, utilities, etc.). If you would like to pay off existing credit cards balances, bring those statements with you so we can facilitate the transfer of those balance to our Visa Card.
Credit Score/Grade and Interest Rates
Our VISA Platinum Rewards Credit Card interest rates are indexed to the Prime Rate listed in the Money Section of the Wall Street Journal on the first business day of October each year and stay in effect for one year. Your rate will be based on your credit score and your credit grade according to the rates listed in the table below:
Credit Score Grading Table with Rates effective 10/1/2008--9/30/2009 :
| As of October 1, 2009 the Wall Street Journal Prime Rate Listing was 3.25% -*Losest prime (floor rate) allowed is 5%. | |||||
|---|---|---|---|---|---|
| Fair Isaac Credit Score | Grade | Credit Limit $ | Introductory Interest Rate for First Year for Purchases or balance transfers | Interest Rate after First Year for Purchases or balance transfers | Interest Rate for Cash Advances from Day One, No Grace Period |
| 700 or higher | A | 10,000 | 7.95 % | WSJ prime rate* plus 4.25 % | WSJ prime rate* plus 6.25 % |
| 640-699 | B | 5,000 | 8.95 % | WSJ prime rate* plus 6.25 % | WSJ prime rate* plus 8.25 % |
| 600-639 | C | 2,500 | 10.95 % | WSJ prime rate* plus 8.25 % | WSJ prime rate* plus 10.25 % |
| 550-599 | D | 1,000 | 14.95 % | 17.50 % | Not allowed |
| The maximum interest rate we can charge by NCUA regulations is 18%. Our Maximum interest rate is 17.50% *Please note: The minimum prime rate allowed (for our interest calculaton purposes) will be 5%-our "floor prime rate". | |||||
Applications
Applications are available on-line. If you already have Tri-Town On-Line Access, click here. If not, call us at 203 227-8511 or visit our office to set-up an on-line account.
Billing Rights Summary/Billing Disputes
Notify us in case of errors or questions about your account!
If you think your account statement is wrong, or if you need more information about a transaction that is shown, write us as soon as possible at:
Tri-Town Teachers Federal Credit Union
61 Jesup Road
Westport, CT 06880
We must hear from you no later than 60 days after we sent you the first statement on which the error or problem appeared.You can telephone us, but doing so will not preserve your rights.
In your letter, give us the following information:
- Your name and account number.
- The dollar amount of the suspected error, and
- Describe the error and explain, if you can, why you believe there is an error. If you need more information, describe the item you are unsure about.
You do not have to pay the questioned amount while we are investigating, but you are still obligated to pay all the parts of your account that are not in question. While we investigate your question, we cannot report you as delinquent or take any action to collect the amount you question, provided that you pay the undisputed amounts.
Special rule for credit card purchases
If you have a problem with the quality of the property or services that you have purchased with a credit card, and you have tried in good faith to correct the problem with the merchant, you have the right to withhold payment of the amount still due for property or service if:
- The purchase was made in your home state or within 100 miles of your current mailing address: and
- The purchase price was more than $50.00.
If we own or operate the merchant, or if we mailed you the advertisement for the property or services, the limitations on the amount or location of purchase do not apply.
How We Compute Periodic Finance Charges
The periodic finance charge, if any, is computed by multiplying the balance subject to finance charge by the monthly periodic rate as shown on the bottom of your billing statement.
The periodic finance charge on an account without a 25 day grace period on the advance balance:
For the advance balance, which consists of transactions related to cash and loan advances;
A periodic finance charge will be imposed on advance transactions from the date they are posted to your account.
For the purchase balance, which consists of transactions related to purchases of property and services:
A periodic finance charge will not be imposed on purchase transactions if the previous balance shown on the monthly statement is zero or if a payment or credit for the full amount of the previous balance was received within 25 days of the prior billing cycle closing date.
To compute the periodic finance charge, we take the beginning balance of your account each day during the billing cycle, add any new cash and loan advances and any new purchases and subtract payments, credits and previously accrued finance charges. This gives us the daily balance. We then add all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the average daily balance.
By Law we hereby notify you that if you fail to fulfill the terms of your credit obligations we may submit negative credit reports reflecting on your credit to credit reporting agencies.
Credit Card Disclosure Statement
Annual Percentage Rate (APR) for Purchases | Introductory APR: 7.95% - 14.95% for purchases and balances transfers for first twelve (12) months, Thereafter 9.25% - 17.50%* |
Other APR's | Cash Advances.................................11.25% - 17.50%* Balance Transfer..............................9.25% - 17.50%* Penalty................................................................17.50%** |
Variable Rate and payment Information |
Your APR may vary based on your credit score (see credit score grading table listed above). The rate is determined by adding 4.25% to 8.25% to the Prime Rate* as published in the Wall Street Journal "Money Rates" Table on the first business day of October each year. New rates take effect with the next billing cycle, generally on the 20th day of October and remain in effect for one year. Credit Card payments are due by the 15th of each month. |
Grace Period Information | 25 days for purchases (No Grace Period for cash advances or balance transfers) |
Method of computing balances | Average daily balance (excluding new purchases) |
Annual Fees |
$50 None, if you are "A" credit or if you agree to use on-line statements |
Minimum monthly payment |
$20 or 4% of the outstanding balance, whichever is higher |
Transaction Fee for Purchases | None |
Minimum Finance Charge | None |
Foreign Transaction Fee..........1%
of the transaction amount Balance Transfer Fee...........................................................None Late Payment Fee...............................................................$20.00 Over-the-Credit Limit Fee..................................................$25.00 | |
| * The Annual Percentage Rate is based on certain credit-worthiness criteria. The Prime Rate is used to determine your APR is the rate published in the "Money Rates" table of the Wall Street Journal on the first business day of October each year and remains in effect for one year, starting with the October billing cycle, after October 20th each year. ** If your payments are late by sixty (60) days. |
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| The information about the costs of the card described in this disclosure statement are accurate as of October 2008. This information may have changed after that date. To determine what may have changed contact the Credit Union. | |
Visa Check Card
The Tri-Town Teachers FCU offers a Visa Check Card which is a debit card that is tied to the member's share draft (checking) account and functions much like a personal check. When this card is used, the member's share draft account is debited by the amount of the transaction (within 24 hours). This card may be used wherever Visa Cards are accepted. To apply for a Visa Check Card simply stop by our office.
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