Credit Card Statement Backer

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Credit Card Statement Backer

CREDIT CARD STATEMENT BACKER

A. If the New Balance shown on this statement is paid in full by the Payment Due Date shown on this statement, no INTEREST CHARGE will be imposed on Current Cycle Purchases (which are the purchases itemized on this statement).

B. The INTEREST CHARGE shown on this statement has been computed in the following manner. If payment in full of your Previous Balance was not received by the Payment Due Date Shown on your last statement, or if your Previous Balance includes any old purchases or Cash Advances, or if any Cash Advances are itemized on this statement, an INTEREST CHARGE on the average daily balance at the applicable monthly periodic rate or rates shown on this statement was imposed on the amounts listed under Interest Charge Calculation.

The Average Daily Balance of current cycle purchases is the sum of the purchases itemized on this statement on each day of the billing cycle divided by the number of days in such billing cycle; such balances are determined by adding purchases as of the dates they were posted to your account and deducting applicable payments and credits as of the dates they were credited to your account.
The Average Daily Balance of previous cycle purchases is the sum of the unpaid balances of the purchases itemized on your last statement on each day of the billing cycle covered by your last statement divided by the number of days in such billing cycle; such unpaid balances are determined by adding purchases as of the dates they were posted to your account and deducting applicable payments and credits as of the dates they were credited to your account. If you paid your Previous Balance in full by the Payment Due Date shown on your previous statement, then the amount shown in Previous Balance is zero.
The Average Daily Balance of old purchases is the sum of the unpaid balances of old purchases on each day of the current billing cycle (the billing cycle covered by this statement) divided by the number of days in the current billing cycle; such unpaid balances are determined by deducting applicable payments and credits (as of the dates they were credited to your account) from the unpaid purchases which were posted to your account prior to the current billing cycle. If you paid your Previous Balance in full by the Payment Due Date shown on your previous statement, then previous cycle purchases were excluded from old purchases for purposes of computing the Average Daily Balances of old purchases.
The Average Daily Balance of Cash Advances is the sum of unpaid Cash Advances on each day of the current billing cycle divided by the number of days in the current billing cycle; such unpaid balances are determined by adding new Cash Advances as of the dates they were posted to your account and deducting applicable payments and credits as of the dates they were credited to your account.

BILLING RIGHTS SUMMARY

What To Do If You Think You Find A Mistake On Your Statement

If you think there is an error on your statement, write to us at:

Midland Credit Union, 2891 106th St., Urbandale, IA 50322

In your letter, give us the following information:

Account information: Your name and account number.
Dollar amount: The dollar amount of the suspected error.
Description of Problem: If you think there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake.

You must contact us within 60 days after the error appeared on your statement.

You must notify us of any potential errors in writing [or electronically]. You may call us, but if you do we are not required to investigate any potential errors and you may have to pay the amount in question.

While we investigate whether or not there has been an error, the following are true:

We cannot try to collect the amount in question, or report you as delinquent on that amount.
The charge in question may remain on your statement, and we may continue to charge you interest on that amount. But, if we determine that we made a mistake, you will not have to pay the amount in question or any interest or other fees related to that amount.
While you do not have to pay the amount in question, you are responsible for the remainder of your balance.
We can apply any unpaid amount against your credit limit.

Your Rights If You Are Dissatisfied With Your Credit Card Purchases

If you are dissatisfied with the goods or services that you have purchased with your credit card, and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the purchase.

To use this right, all of the following must be true:

The purchase must have been made in your home state or within 100 miles of your current mailing address, and the purchase price must have been more than $50. (Note: Neither of these is necessary if your purchase was based on an advertisement we mailed you, or if we own the company that sold you the goods or services.)
You must have used your credit card for the purchase. Purchases made with cash advances from an ATM or with a check that accesses your credit card account do not qualify.
You must not yet have fully paid for the purchase.

If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing [or electronically] at:

Midland Credit Union, 2891 106th St., Urbandale, IA 50322

While we investigate, the same rules apply to the disputed amount as discussed above. After we finish our investigation, we will tell you our decision. At that point, if we think you owe an amount and you do not pay we may report you as delinquent.