FAQ- VISA CREDIT
• Do I need to notify the credit union if I plan to use my credit/debit card when I am traveling out of the area?MPECU
Yes, it is helpful to have our members contact us when they are traveling with their credit/debit cards. When our members use the cards from outside their normal home range, it raises flags with VISA and our member will appear on a report. Your card could possibly be blocked if we are not able to contact you.
30 W. Superior St.
Duluth, MN 55802
Toll Free: 1-866-724-3993
• How can I pay my MPECU VISA Credit Card?
We have many ways to pay your MPECU Visa credit card:
1. In person
2. By mail
4. Online in Homebanking
5. Auto pay (set this up with the loan dept.)
6. Pay by Phone 1-800-808-7230
7. Call MPECU and have a member service representative transfer funds from your MPECU savings or checking to your MPECU visa.
• What is eZcardinfo?
eZCardInfo is an Online Service website that allows you to access your credit card account information 24/7 including the ability to view past & current statements, download data to financial software, pay your bill online and receive e-mail alerts of conditions or events affecting your account.
• What is the Truth in Lending Act?
The Truth In Lending Act (TILA) is part of the Consumer Credit Protection Act, enacted in 1968. Its purpose is to protect consumers from misleading terms and advertising that might be used by lenders for a variety of loan products, including mortgages, installment loans, & credit cards. The law has been amended many times over the years.
The Truth in Lending Act is the basis for many regulations that establish requirements for lenders to provide consumers with specific kinds of information before and after signing a credit agreement. It is designed to help consumers make informed choices between credit products. The law also establishes ways for consumers to cancel a loan, challenge unfair billing, and avoid liability for unauthorized credit card transactions.
• Is there any age limit to obtaining a credit card?
Yes, a member must at least 21 years of age to obtain a credit card.
Members age 18 - 20 may apply for a credit card with a qualified co-signer.
• Vishing—What is it and how do I avoid risking this type of identity theft?
Related to "phishing", another type of fraud called “vishing” has emerged that uses Voice Over Internet Protocol (VoIP). Instead of being directed by e-mail to a Web site, a fraudulent e-mail message (spam) asks the user to make a telephone call. The unsuspecting caller dials into a voice response system that asks for the user's credit card number. The system is disguised to appear like a legitimate financial institution or credit card company.
In addition to email, the initial "bait" can come in the form of a telephone call with a recording that instructs the user to call an 800 number. In either case, be wary of anyone asking for you to enter credit card numbers over the phone.
Vishing is a slang IT term that combines "voice" and "phishing". Voice over IP (VoIP) is used for vishing because caller IDs can be spoofed, and the entire operation can be brought up and taken down in a short time, compared to a real telephone line.
• What are the annual fees and interest rates of the credit cards offered my MPECU?
The VISA Classic interest rate ranges from 9.9% - 15.9%, depending on your credit score. The card has no annual fees. Fees do apply for cash advances and late payments. Check the MPECU website for current fee information.
• What should I do if I have a dispute with a merchant regarding a purchase made using my credit card?
If you have a problem with the quality of property 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.
Merchant disputes may be filed if the amount of the purchase was more than $50, made in your home state or within 100 miles of your current mailing address.
You must make your dispute in writing and mail or fax to MPECU or on-line through the EZCard site if your credit card is registered.
• What does authorized user mean on our credit cards?
Authorized User means that you will receive a card in your own name under the main person's account number. You can make purchases and do cash advances on the account, but you are not responsible for the debt & you do not have to make payments.
• What is Verified by Visa?
Verified by VISA is a unique service that uses personal passwords to help protect VISA credit card numbers against unauthorized use on the internet. Once you activate your credit card, no one else can use your VISA credit card number at any participating online stores without your personal password.
• Can I use my Verified by Visa password for all my Visa cards?
Yes, when each card is registered for Verified by VISA, a password will be selected for each card and will be associated with it. It's up to you to choose the password for each different account.
• When I make a payment on my MPECU Visa Credit Card why does it show those funds in a “S70” account?
Whenever you make a payment on your Visa Credit Card, the payment has to be deposited into a "sweep account/ S70 account." You will notice your payment applied to your Visa credit card balance after 9:00 am the following business day.
• What should I do if my card is misplaced or stolen and how much am I liable for?
You should report your card lost or stolen right away. As a cardholder, there is zero liability to you.
• Are there any fees on foreign transactions?
A fee of 1 percent of the amount of the transaction, calculated in U.S. dollars, will be imposed on all multiple currency foreign transactions, including purchases, cash withdrawals and credits to your account. A fee of 0.8 percent of the amount of the transaction, calculated in U.S. dollars, will be imposed on all single currency foreign transaction, including purchases, cash withdrawals, and credits to your account. A foreign transaction is any transaction that you complete or a merchant completes on your card outside of the United States with the exception of U.S. military bases, U.S. territories, U.S. embassies or U.S. consulates.
• Why are the finance charges for cash advances I get with my credit card figured differently from purchases that I make with my credit card?
Cash advances with your credit card are charged interest from the date of posting. Credit card purchases have a grace period of 25 days before interest is charged.
• When I use my Visa credit card does it have vehicle rental insurance?
Yes, MPECU's VISA credit card does cover you for vehicle rental insurance ONLY if you call ahead first and get the coverage authorized. You need to contact Customer Service with VISA at 800-847-2911.
• Is there a minimum income requirements for VISA credit cards?
Yes, the member must have a minimum income of $10,000.00 a year.
• Do you have a special credit card for college students?
No, not at this time.
• Are you able to have an MPECU Visa Credit card if you close your membership?
No, If you close your membership, all loans and visa cards will need to be paid in full.