- Personal Banking
- Business Banking
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- Trust Services*
AMALGAMATED BANK CREDIT PROTECTOR DISCLOSURE TERMS
Amalgamated Bank Credit Protector is an optional program offered by Amalgamated Bank of Chicago ("Bank") to eligible cardmembers. Whether or not you purchases Amalgamated Bank Credit Protector will not affect your application for credit or the terms of any existing credit agreement you have with the Bank.
In the case of hospitalization, involuntary unemployment, union sanctioned strike or disability where you are unable to work, benefits include cancellation of the minimum payment for up to 12 months per occurrence in an amount equal to 2.5% of your outstanding balance up to a maximum of $500 per month. In the case of your death, benefits include cancellation of the outstanding debt amount as of the date of death. Benefits are limited to your Amalgamated Bank Credit Card account ("Account") balance as of your date of involuntary unemployment, union sanctioned strike, disability, hospitalization or death up to a maximum of $10,000 per occurrence. You must be enrolled in Amalgamated Bank Credit Protector before your loss occurs. While receiving benefits, you will be unable to make any new charges or cash advances on your Account.
Upon enrollment, we will give you additional information, including an Addendum to your Amalgamated Bank Credit Card Cardmember Agreement that fully describes the program's features and benefits. Please read the Addendum carefully for a full explanation of terms, including eligibility requirements, conditions, and exclusions that could prevent you from receiving benefits and cancellation rights.
You may cancel your protection at any time. If you cancel within the first thirty days, any fees charged will be refunded. The Bank may cancel the Amalgamated Bank Credit Protector program at any time. The monthly fee for Amalgamated Bank Credit Protector is $.89 per $100 of outstanding balance. Amalgamated Bank Credit Protector fees will be automatically charged to your Account each month that you have an outstanding balance.
This product is not available in MA or MT.
|CONSUMER PROTECTION IN SALE OF INSURANCE
Section 343.40(b) of FDIC regulation requires that the bank may not
condition an extension of credit on either:
(1) The consumer's purchase of an insurance product or annuity from
the bank or any of its affiliates; or
(2) The consumer's agreement not to obtain, or a prohibition on the
consumer from obtaining, an insurance product or annuity from an
You can apply online or call Amalgamated Card Services at 800-365-6464 to have a Bank Card application mailed to your home.
For more information on these, or any other Amalgamated Bank Card product, please contact us online or call 1-800-365-6464.