S.C. State Federal Credit Union
2 cardholder agreements · 495 KB
- Starting score100
- Forced arbitration (opt-out available)-12
- Class-action waiver-12
- Jury-trial waiver-8
- Penalty APR-6
- Fair Terms score62 · grade C
See the exact wording behind each below.
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You can opt out of this issuer's forced arbitration
S.C. State Federal Credit Union's agreement lets you reject arbitration and keep your right to sue — usually within a short window after opening the account. You have to send it in writing. Here's the language from the filed agreement:
“…action, joinder, or consolidation is found to be illegal or unenforceable, the entire Arbitration Agreement will be unenforceable. Right to Opt-Out: You may opt-out of this Arbitration Provision by calling us toll free at: 1-800-868-8740, or by sending us a written notice to PO Box 726, Columbia, SC 29202-0726, which includes your name(s), account number(s), and a statement that you (both or all of you, if more than one) do not wish to be governed by the Arbitration Provision in your Account Agreement (the Opt-Out Notice ). To be effective, your written Opt-Out Notice must be: (1) sent to us by first class mail or certified mail, return receipt requested, at: Address for Opt-Out, and (2) signed by you (or all of you, if more than one party to any relationship) including the information set forth above. We must receive your telephone call or written notice within forty-five (45) days afte…”
Read the exact mailing address in the clause above, then use our opt-out letter template and full guide →
Contract X-Ray — what's buried in the fine print
4 red flags · 2 filed docsDetected in the CFPB-filed cardholder agreements from S.C. State Federal Credit Union. Verbatim quotes below — CardSleuth flags the language; this isn't legal advice.
You give up your right to sue in court — disputes are pushed into private arbitration.
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“…ed in this section. Definition: Arbitration means an impartial third party will hear the dispute between Credit Union and you and provide a decision. Binding arbitration means the decision of the arbitrator is final and enforceable. A dispute is any unresolved disagreement between Credit Union and you. A dispute may a…”
You can't band together with other cardholders in a class action.
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“…ublic, or to act as a private attorney general. If any provision related to a class action, class arbitration, private attorney general action, other representative action, joinder, or consolidation is found to be illegal or unenforceable, the entire Arbitration Agreement will be unenforceable. Right to Opt-Out: You may…”
You waive your right to have a dispute heard by a jury.
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“…A dispute may also include a disagreement about this Arbitration Agreement s meaning, application, or enforcement. Credit Union and you each agree to waive the right to a jury trial or a trial in front of a judge in a public court. Arbitration is beneficial because it provides a legally binding decision in a more streamline…”
Slip up and your rate can jump to a much higher penalty APR.
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“…Cash Advances Platinum: 10.9% Gold: 15.9% Classic & Secured: 17.9% Your rate is based on individual creditworthiness and our underwriting standards. Penalty APR and When It None Applies How to Avoid Paying Your due date is at least 25 days after the close of each billing cycle. We will Interest on Purchases n…”
The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.
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“…sentative action, joinder, or consolidation is found to be illegal or unenforceable, the entire Arbitration Agreement will be unenforceable. Right to Opt-Out: You may opt-out of this Arbitration Provision by calling us toll free at: 1-800-868-8740, or by sending us a written notice to PO Box 726, Columbia, SC 29202-0726, which includes you…”
Checked & clear: Deferred interest · Change-anytime clause
Cardholder agreements
Filed with the CFPB in the 2026 Q1 bulk submission. Opens the original PDF.