How to Read your Visa Credit Card Statement!

Have you noticed the new look to your Visa Credit Card Statement? Click here for helpful tips on reading and understanding the new information provided on your statement.

Parsons Federal Credit Union is pleased to announce our partnership with BALANCE. BALANCE offers free, personal and confidential financial counseling and planning services to members of PFCU. Whether you are looking to get out of debt, improve your credit or, plan for your future, BALANCE can help! Call 888-456-2227, or click the BALANCE icon below.

IMPORTANT TRAVEL INFORMATION FROM VISA

Please be advised that many countries in Europe have recently introduced a chip and pin payment system that utilized cards embedded with a chip and protected through the use of a personal identification number. Some merchants in Europe have mistakenly refused to accept Visa cards issued by U.S. financial institutions because the cards do not have an embedded chip that can be read at the point of sale.

The good news in that U.S. cardholders visiting Europe can continue to use their magnetic stripe Visa card in countries with this system. The merchants' terminals are designed to recognize and prompt appropriately, and you should still be able to sign a transaction receipt.

Click here for more information and what Visa is doing to address this problem.

For after hours assistance with your Visa Credit or Debit Card please call:

From within the United States: 888-526-0404

Outside the United States: 206-352-4954 (you may call collect)

Parsons Federal Credit Union urges all credit and debit card holders to activate and sign the back of their cards upon receipt. Technically, merchants are not authorized to accept credit or debit cards that are not signed by the cardholder or have used the signature panel on the back of the card for something other than a signature such as "Ask for ID".

Merchants are required to follow the following procedure when asked to accept an unsigned credit or debit card:

• Obtain authorization from the card issuer (PFCU)
• Ask cardholder for identification
• Require the cardholder to sign the card before acceptance

By signing the card, you provide a means for the merchant to verify your identity. Merchants must compare the signature on the back of the card with the signature on the receipt before completing the transaction. If an unsigned card is lost or stolen, a fraudster can sign the card with a signature that matches the name on the front of the card. The fraudster's signature on the receipt will then match the signature on the card.

Your Billing Rights: Keep this Document for Future Use

This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.

What To Do If You Find a Mistake on Your Statement

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

Parsons Federal Credit Union, P.O. Box 90667, Pasadena, CA  91109-0667

You may also contact us on the Web at mbrserv@parsonsfcu.com

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.
• At least 3 business days before an automated payment is scheduled, if you want to stop payment on the amount you think is wrong.

You must notify us of any potential errors in writing. 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.

What Will Happen After We Receive Your Letter

When we receive your letter, we must do two things:

1. Within 30 days of receiving your letter, we must tell you that we received your letter. We will also tell you if we have already corrected the error.
2. Within 90 days of receiving your letter, we must either correct the error or explain to you why we believe the bill is correct.

While we investigate whether or not there has been an error:

• 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.
• 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.

After we finish our investigation, one of two things will happen:

• If we made a mistake: You will not have to pay the amount in question or any interest or other fees related to that amount.
• If we do not believe there was a mistake: You will have to pay the amount in question, along with applicable interest and fees. We will send you a statement of the amount you owe and the date payment is due. We may then report you as delinquent if you do not pay the amount we think you owe.

If you receive our explanation but still believe your bill is wrong, you must write to us within 10 days telling us that you still refuse to pay. If you do so, we cannot report you as delinquent without also reporting that you are questioning your bill. We must tell you the name of anyone to whom we reported you as delinquent, and we must let those organizations know when the matter has been settled between us.

If we do not follow all of the rules above, you do not have to pay the first $50 of the amount you question even if your bill is correct.

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:

1. 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 are necessary if your purchase was based on an advertisement we mailed to you, or if we own the company that sold you the goods or services.)
2. 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.
3. 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 at:

Parsons Federal Credit Union, P.O. Box 90667, Pasadena, CA  91109-0667, email: cardserv@parsonsfcu.com

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.

For a printable version of your Billing Rights, click here.

THE STATEMENTS BELOW PERTAIN TO OPEN-END LOAN ACCOUNTS ONLY
CREDIT INSURANCE NOTICE

Credit Life and Credit Disability Insurance Certificate holders, under the Open-End Credit Accounts reported on this statement, are required by California law to be advised of the following: THIS INSURANCE MAY NOT COVER AN ADVANCE OR CHARGE UNDER YOUR CREDIT LINE IF YOUR DISABLILITY OR DEATH RESULTS FROM A CONDITION FOR WHICH YOU HAVE SEEN A DOCTOR OR CHIROPRACTOR IN THE SIX MONTHS BEFORE THE ADVANCE OR CHARGE.

FINANCE CHARGE CALCULATION

The FINANCE CHARGE for an Open-End loan is computed by applying the periodic rate to each unpaid balance for the exact number of days each balance was outstanding. The balance used to compute the FINANCE CHARGE is that balance each day after credit are subtracted and new advances or other charges are added.