VisaŽ Secured Card Terms and Conditions
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT: To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask you for your name, address, date of birth and other information that will allow us to identify you. We may ask to see your driver’s license or other identifying documents.

We may change APRs, fees, and other Account terms in the future based on your experience with Elan Financial Services and its affiliates as provided under the Cardmember Agreement and applicable law.

We apply your minimum payment to balances with lower APRs first. Amounts paid over the minimum payment will be applied in the order of highest to lowest APR balances.

Disclosure of Credit Card Terms
Interest Rates and Interest Charges VisaŽ Secured Card
Annual Percentage Rate (APR) for Purchases Secured: 20.99%
This APR will vary with the market based on the Prime Rate.
APR for Balance Transfers Secured: 20.99%
This APR will vary with the market based on the Prime Rate.
APR for Cash Advances Secured: 23.99%
This APR will vary with the market based on the Prime Rate.
Penalty APR and When it Applies Not applicable
How to Avoid Paying Interest on Purchases Your due date is 24 - 30 days after the close of each billing cycle. We will not charge you interest on purchases if you pay your entire balance by the due date each month.
Minimum Interest Charge If you are charged interest, the charge will be no less than $2.
For Credit Card Tips from the Consumer Financial Protection Bureau To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore
Fees VisaŽ Secured Card
Annual Fee
Annual Membership Fee
$35
Transaction Fees
Balance Transfer
Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
Convenience Check Cash Advance1
Either 3% of the amount of each advance or $5 minimum, whichever is greater.
Cash Advance ATM
Either 4% of the amount of each advance or $10 minimum, whichever is greater.
Cash Advance
Either 4% of the amount of each advance or $10 minimum, whichever is greater.
Cash Equivalent Advance
Either 4% of the amount of each advance or $20 minimum, whichever is greater.
Overdraft Protection2
$10
Foreign Transaction
2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars
3% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency
Penalty Fees
Late Payment
Up to $38
Returned Payment
Up to $35
Overlimit
None
How We Will Calculate Your Balance: We use a method called 'average daily balance (including new purchases).'

Billing Rights:  Information on your rights to dispute transactions and how to exercise those rights is provided in your Cardmember Agreement.

This information is accurate as of 08/2015 and is subject to change after this date. For current information, please contact Elan Financial Services at P.O. Box 6354, Fargo, ND 58125-6354 or call us at 1-866-486-1015 (TDD 1-888-352-6455) for any changes
1Not all products receive Convenience Checks.
2Overdraft Protection:
Overdraft Protection protects the Comerica Bank checking account designated below from overdrafts by having cash automatically advanced to that checking account from your Comerica Credit Card Account, provided by Elan Financial Services. To obtain Overdraft Protection, the information must be completed and submitted with this application.

Overdraft Protection Terms and Conditions:
1) When items and transactions presented for payment would overdraw the Comerica Bank Checking Account designated below, Comerica Bank will automatically obtain an Overdraft Protection Advance from the designated Comerica Credit Card Account under the following conditions:
Comerica Bank will pay items and transactions from your designated checking account in any order convenient to the bank. 
2) When Comerica Bank determines the total overdraft amount for a particular business day, Comerica Bank will automatically request an Overdraft Protection Advance to pay all items creating the overdraft from credit available with the Comerica Credit Card Account.  Any transfer will post as an Overdraft Protection Advance and be treated as a Cash Advance drawn on your Comerica Credit Card Account, and each advance will accrue periodic rate interest charges and fees according to the terms of the Cardmember Agreement then in effect for your Comerica Credit Card Account.  See Terms and Conditions in the Cardmember Agreement for complete information about periodic rate interest charges and fees for Cash Advances made from the Comerica Credit Card Account.  Comerica Bank overdraft protection transfer fees may also apply. 
3) Regardless of the actual overdraft amount for a particular business day, the minimum amount of each automatic transfer Comerica Bank requests for Overdraft Protection will be in increments of $100.00.  The actual amount of the automatic transfer requested by Comerica Bank will be in the nearest $100.00 increment above the total overdraft amount for a particular business day. 
4) Comerica Bank will not be obligated to pay an item or transaction that would overdraw the Comerica Bank Checking Account by more than the funds and credit available in your Comerica Credit Card Account.  The availability of funds advanced for Overdraft Protection from your Comerica Credit Card Account will remain subject to the terms and conditions of the Cardmember Agreement, as amended from time to time.
5) You understand and agree that your overdraft protection will be terminated automatically, without notice to you, if either of the designated accounts is closed for any reason by any party.
6) Advances for Overdraft Protection may be referred to as either “Overdraft Protection Advances” or “Financial Institution Cash Advances” in the Cardmember Agreement, account disclosures, and periodic statements.
7) An Interest Charge of $10 will apply to each Comerica Bank request for an automatic transfer of funds from your credit card account to your Deposit Account for Overdraft Protection. Comerica Bank fees may also apply.
Notice to New York Residents: You may contact the New York State Department of Financial Services by telephone at (800)342-3736 or visit its website at www.dfs.ny.gov for free information on comparative credit card rates, fees and interest-free periods.
 Notice to California Residents: An applicant, if married, may apply for a separate account.
Notice to Married Wisconsin Residents: No provision of any marital property agreement, unilateral statement under section 766.59 of the Wisconsin statutes or court decree under section 766.70, adversely affects our interest unless we, prior to the time the credit is granted or an open-end credit plan is entered into, are furnished a copy of the agreement, decree or court order, or have actual knowledge of the adverse provision. IF YOU ARE A MARRIED WISCONSIN RESIDENT, CREDIT EXTENDED UNDER THIS ACCOUNT WILL BE INCURRED IN THE INTEREST OF YOUR MARRIAGE OR FAMILY.
Notice to Ohio Residents: The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.
Collateral Account Application: As Primary Applicant, you have opened a Collateral Account (the “CA"†) with Comerica Bank in the amount indicated above.  The CA will be used to secure your obligations in a Secured Card Account that may be opened by Elan Financial Services (“Elan” or “we”) pursuant to the Application you have provided. You understand that no certificate of deposit, note, or other instrument will be issued to you to evidence the CA at account opening and that the CA will be subject to the rules which will be provided to you by Comerica Bank. The CA will be established with Comerica Bank prior to submission of this Application, and, as Primary Applicant, you agree that Comerica Bank may deposit your funds and hold the funds as depository institution for you as Primary Applicant without interest until the credit decision is made.  If this Application is not approved, Comerica Bank will return the full amount of the funds to the Primary Applicant at the address shown on this Application after at least six (6) days have passed from CA opening.  No withdrawals will be allowed from the CA without Elan’s consent until after the Secured Card Account has been closed and repaid in full or until the security interest in the CA has been released.  However, in the event you, as Primary Applicant, have been approved for either an increase or decrease in your Secured Credit Card Account, you will be required to close and reopen your CA (Your Collateral Account number will not change.)

† FDIC Insured

Important Terms and Application Agreement
By signing this Comerica Visa Secured Credit Card application (“Application”), you understand and agree that Elan Financial Services (“Elan”, “we,” “us” or “our”), as the creditor and issuer of your Comerica Visa Secured Credit Card account (“Secured Credit Card Account”), will rely on the information provided here in making this credit decision, and you certify that such information is accurate and complete to the best of your knowledge. For clarification, use of “you” or “your” in this Application (including the Security Agreement below) refers to both Primary Applicant and Secondary Applicant, unless “you” or “your” is used as a direct reference to Primary Applicant only, in which case “you” or “your” will refer only to the Primary Applicant as set forth below.  If we open a Secured Credit Card Account based on this Application, Applicant will be individually liable (or, for Secured Credit Card Accounts with a Primary Applicant and a Secondary Applicant, individually and jointly liable) for all authorized charges and for all fees referred to in the most recent Cardmember Agreement, which may be amended from time to time. We may request consumer credit reports about you for evaluating this Application and in the future for reviewing Secured Credit Card Account credit limits, for Secured Credit Card Account renewal, for servicing and collection purposes and for other legitimate purposes associated with your Secured Credit Card Account. Upon your request, we will inform you if a consumer report was requested and, if it was, provide you with the name and address of the consumer reporting agency that furnished the report.  By providing us with a telephone number for a cellular phone or other wireless device, including a number that you later convert to a cellular number, you are expressly consenting to receiving communications—including but not limited to prerecorded or artificial voice message calls, text messages, and calls made by an automatic telephone dialing system—from us and our affiliates and agents at that number. This express consent applies to each such telephone number that you provide to us now or in the future and permits such calls for non-marketing purposes. Calls and messages may incur access fees from your cellular provider.  By signing the Application, you also agree that we may verify your employment, income, address and all other information provided with other creditors, credit reporting agencies, employers, third parties and through records maintained by federal and state agencies (including any state motor vehicle departments) and waive any rights of confidentiality you may have in that information under applicable law. You agree that, in order to open and administer the Secured Credit Card Account that may be established as a result of this Application, we and the correspondent financial institution that solicited this Application may share certain information about you and your ongoing Secured Credit Card Account activity.  By signing this Application, you certify that you have read and understood the disclosures here and you agree to the terms of this Application.
We may be unable to approve your application if your credit bureau reflects a bankruptcy, you are less than 18 years of age, or if your Security Deposit is less than $300.