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Credit Card Disclosures

Married persons may apply for credit as individuals. If this is an application for an individual account and you are relying on your own income or assets (in community property states, separate income or assets) and not the income or assets of another person (or community property) for repayment of the credit requested, questions relative to marital status and to income resources and assets of the spouse need not be answered. Only the applicant's resources will be evaluated in determining credit worthiness.

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Interest Rates and Interest Charges


How We Will Calculate Your Balance: We use a method called “average daily balance (including current transactions).” This balance is figured for Purchases, for Balance Transfers, and for Cash Advances, separately, by adding the outstanding balance (including current transactions and deducting payments, credits, unpaid interest charges, and unpaid fees) for each day in the billing cycle, and then dividing by the number of days in the billing cycle.

Loss of Introductory APR: We may end your introductory APRs and apply the Penalty APR if you make a late payment.

1The term “account opening” means the date that the account is entered on our processor’s system which is typically one to two days after we receive your signed application.

2The APR is determined by adding "The Margin" to the "Prime Rate." The Margin differs for Purchases and Cash Advances as follows:

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3The "Prime Rate" is the prime rate published in the "Money Rates" column of The Wall Street Journal on the computation dates. The computation dates will be December 1, March 1, June 1, and September 1 (or if such dates do not fall upon a business day, the first publication day thereafter). The APRs are based on the 8.50% Prime Rate on 12/1/2023. The maximum APR and penalty APR for Purchases and Cash Advances is the greater of 29.99% or the maximum rate permitted by law.

4The penalty APR is determined by adding the "Margin" to the "Prime Rate." The "Margin" differs for Purchases and Cash Advances as follows:

The Annual Percentage Rates above were in effect within the past (thirty) 30 days and apply to a new credit card account opened by , . An “account opened” means the date the account is entered on our credit card system which typically is one to two business days after you submit your application.

Important Information — Please Read

A) No applicant may be denied a credit card on account of race, color, religion, national origin, ancestry, age (between 40 and 70), sex, marital status, physical or mental handicap unrelated to the ability to pay or unfavorable discharge from military service. B) The applicant may request the reason for rejection of his or her application for a credit card. C) No person need reapply for a credit card solely because of a change in marital status unless the change in marital status has caused deterioration in the person’s financial position. D) A person may hold a credit card in any name permitted by law that he or she regularly uses and is generally known by, so long as no fraud is intended thereby. FOR ALL APPLICANTS: You must be at least 18 years old to qualify. If approved, you will receive a Cardholder Agreement with your card(s). By using the account or any credit card, or by authorizing their use, you agree to be bound by the terms of the Cardholder Agreement. “You” and “your” mean the primary cardholder, any other cardholder(s) and any person who has been authorized by you to receive and use the card.

Terms & Conditions

  1. You authorize us to obtain credit bureau reports that we will use when considering your Credit Card Application. You also authorize us to use the credit bureau reports for marketing purposes, including but not limited to, loan pre-approvals, and in considering whether to offer other credit and services to you.
  2. If you give us your cell phone number in your Credit Card Application, you give us your permission to contact you at that number about all your CEFCU accounts. Your consent allows us to use text messaging, artificial or prerecorded voice messages and automatic dialing technology for informational and account service calls, but not for telemarketing or sales calls. It may include contact from companies working on our behalf to service your accounts. Message and data rates may apply. You may contact us anytime to change these preferences.
  3. If your application is approved we will open an account for you and mail you a CEFCU Credit Mastercard, CEFCU Cash Back Credit Mastercard, CEFCU Rewards Credit Mastercard, and CEFCU World Mastercard Cardholder Agreement (“Cardholder Agreement”) and Account-Opening Disclosure Statement (“Account-Opening Disclosure”) and our processor will mail you your credit card.  If you use the account or card or authorize the use of the account or card you agree to the terms of the Cardholder Agreement.  You may view the Cardholder Agreement at Rates, fees, and terms may change: We have the right to change the account terms (including the APRs) in accordance with your Cardholder Agreement.
  4. Balance transfer requests will not be  approved and sent to your designated payee(s) until at least 10 days after we mail you your Cardholder Agreement and Account-Opening Disclosure. If you want to cancel or modify your balance transfer request within this 10 day period and have received your credit card, please call the number on the back of your card. Otherwise, please call 309.633.7000.  Minimum Transfer amount: $250.  Transfers of balances will reduce your available credit limit just like any other transaction.  A Balance Transfer will be processed by payment drawn on the account and made by us directly to the other credit card issuer(s) or other lender(s).  You may not transfer balances from other accounts with us.  If a portion of a requested Balance Transfer will exceed your available credit limit, we may process a partial Balance Transfer up to your available credit limit or may decline to process any full or partial balance transfer.  Please continue to make payments to your other account(s) until you know the balance has been paid.