The Bank of LaFayette

The Bank of LaFayette

P.O. Box 1149

LaFayette, Georgia 30728



As used in this Agreement, the words, "you" and "your" mean each and every person signing, using or having a MasterCard account with the above named Bank or one of its authorized Agent Banks which Banks together shall be referred to as the "Bank" or "we" in this Agreement.

By using your MasterCard card, you agree to the terms set forth in this Agreement.



You may obtain merchandise, services and cash advances with your MasterCard card. By signing, using or permitting use of or negligently dealing with your MasterCard card, you agree that you will be responsible for and pay for all charges for merchandise, services and cash advances on your MasterCard card account, except as provided in Paragraph 6 below.



You will pay on or before the Payment Due Date as shown on each Monthly Periodic Statement at the address shown on the Monthly Periodic Statement, or at any of the Bank's branch offices, or any designated Agent Bank, either (1) the entire New Balance shown on each Monthly Periodic Statement or (2) not less than a minimum payment (shown as the Minimum Payment Due on your Monthly Periodic Statement) or 5% of the New Balance or $10.00, whichever is greater. (Full payment is due on New Balances of

$10.00 or less.)



(a) Periodic  Finance Charges: If you pay the New Balance in full on or before the Payment Due Date shown on your Monthly

Periodic Statement, no additional periodic Finance Charge will be imposed. If your payment is received by the Bank after the

Payment Due Date or if you pay less than the entire New Balance, you will also pay a periodic FINANCE CHARGE which is calculated by multiplying the monthly periodic rate of 11/2% by the Average Daily Balance of your account (including current transactions). The monthly periodic rate is equivalent to an ANNUAL PERCENTAGE RATE of 18%. We figure the interest charge on your account by applying the periodic rate to the "average daily balance" of your account. To get the "average daily balance" we take the beginning balance of your account each day, add any new (purchases/advances/fees), and subtract (any unpaid interest or other finance charges and) any payments or credits. This gives us the daily balance. Then, we add up 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."

(b) Cash Advance Finance Charges: If you obtain a cash advance, you will pay a cash advance transaction fee FINANCE  CHARGE (IMPOSED ONLY ONCE PER CASH ADVANCE) WHICH IS CALCULATED BY MULTIPLYING THE CASH ADVANCE RATE OF

5% BY THE AMOUNT OF EACH CASH ADVANCE. However, the minimum cash advance transaction  fee FINANCE CHARGE will be

$5.00 and the maximum cash advance transaction fee FINANCE CHARGE will be $25.00 for any one cash advance. For cash advances FINANCE CHARGES will start accruing on the date of the transaction. The New Balance on the first Monthly Periodic Statement following a cash advance will include the cash advance and the cash advance transaction fee Finance Charge. In the month in which a cash advance is first billed, the Annual Percentage Rate on your Monthly Periodic Statement will include the Annual Percentage Rate of the cash advance transaction fee Finance Charge.



(a) Late Payment Fee: If you do not pay the Minimum Payment Due (as shown on your Monthly Periodic Statement) on or before the 10th day after the Payment Due Date, you will pay a late payment fee of $1.00 or 5% of the portion of the Minimum Payment Due not paid, but not more than $5.00. You will not have to pay such late payment fee more than once on any late payment amount.

(b) Fees for Documentary Evidence: If you request a copy of a charge slip or other document in connection with a notice of billing error, the Bank may charge you the sum of $4.00 for each copy.

(c) Fees for ATM Usage: You may incur charges by the financial institution when using your card at the institution's ATM.



The Bank reserves the right to apply your payments and credits to the various components of your balance in any order allowed by law. Payments received at other than the address shown on the Monthly Periodic Statement may be subject to a delay in crediting of up to five (5) days after the date of receipt.



You may be liable for the unauthorized use of your MasterCard. If your MasterCard is lost or stolen, you must notify the Bank immediately either orally or in writing at the telephone number or address shown on your Monthly Periodic Statement, or you may notify Bankers Bank Cards Services as agent for The Bank of LaFayette, P. O. Box 1149, LaFayette, Georgia 30728 or at 1-800-556-5678. You will not be liable for unauthorized use of your MasterCard card which occurs after you notify the Bank or Bankers Bank Card Services. In any case, your liability for unauthorized use will not exceed $50.00.



If you do not pay a monthly minimum payment when due, or if you violate any terms of this Agreement, or if you exceed your line of credit established by the Bank for your use of your MasterCard card, of if you commence any bankruptcy proceeding or if the Bank reasonably deems itself to be insecure, the Bank may, without notice or demand, cancel your MasterCard card and/or declare immediately due and payable the unpaid portion of the New Balance plus current charges, together with all costs, disbursements and attorney's fees, if collected, of 15% of the amount due.



Every MasterCard card remains the property of the Bank, and you will surrender your MasterCard card to the Bank or anyone designated by it on demand. If any bankruptcy proceeding is commenced by or against you, your credit card will automatically be cancelled without notice.



Collateral securing your existing or future debts to the Bank, if any, may also secure your MasterCard card account, except that any mortgage on your principle dwelling will not secure your MasterCard account.



The Bank may assign, sell or transfer your MasterCard account to another financial institution.



The Bank may amend and change this Agreement by mailing to you at your latest address of record a written notice of the changes at least fifteen (15) days prior to the beginning date of the billing cycle in which any changes are to become effective.



If you effect a transaction at a merchant that settles in a currency other than U.S. dollars, MasterCard International Incorporated will convert the charge into a U.S. dollar amount. MasterCard International will use its currency conversion procedure, which is disclosed to institutions that issue MasterCard cards. Currently the currency conversion rate used to determine the transaction amount in U.S. dollars is generally either a government-mandated rate or the wholesale rate in effect the day before the transaction processing date. The currency conversion rate used on the processing date may differ from the rate that would have been used on the purchase date or cardholder statement posting date.



See reverse side of this Agreement for important information concerning your rights to dispute billing errors.




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:

The Bank of LaFayette
P.O. Box 1149
LaFayette, GA 30728

You may also contact us on the Web:

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 (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.


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.
  1. 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 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.)
  1. You must have used you 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.
  1. You must not yet have fully paid for the purchase.

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

The Bank of LaFayette
P.O. Box 1149
LaFayette, Georgia 30728

You may also contact us on the Web:


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.