1. Why is the Credit union changing their card program?
Moving our credit card program to Fiserv will provide the following benefits to our members and employees:
- Improved visibility and access to credit card information. Members will now see all credit card activity on our core system and digital banking platform without the need to access a third-party application (EZ Card Info).
- All credit card payment and transactional activity will now be “real-time,” and members will see the impact of payments on account balances and available credit limit immediately (with cash and electronic payments) vs. next day as in the past.
- Employees will now have only one operational environment to support members with questions, card maintenance, and fraudulent transaction disputes.
2. What’s new or different?
- Card Programs: We will continue to have two options for cards, based on preference upon applying for the card:
- We will offer our fixed rate, no annual fee Basics card
- We will offer our variable rate, no annual fee, Local Rewards card, which replaces our Perks 321 Rewards card (same great features, new name!)
- New Look and enhanced Security:
- Card plastics will have a new card design and be equipped with contactless EMV chips for enhanced security and privacy.
- New Card Number:
- All cards will be re-issued with new unique card numbers for each card holder. Previously all individuals that were on a credit card together as joints or authorized users, all shared the same card number. Now, all individuals will have separate card numbers to enhance convenience and security. You will continue to receive only one bill.
- Integrated Online Card Access:
- eZCardinfo.com will be replaced by Midcoast Digital Banking. Online account access to your Midcoast credit card will now be fully integrated into Midcoast’s digital banking service.
- Enhanced Rewards:
- Scorecard Rewards will be upgraded to uChoose Rewards with great new redemption options for merchandise, travel, and statement credits and cash back options.
- Disclosures / Terms and Conditions :
- Due to some minor program changes, a new Credit Card Terms and Conditions Disclosure will be sent to all cardholders at least forty-five (45) days in advance to the conversion date of November 13th, 2023
3. What will remain the same?
- Employee Response & Member Response:
- Minimum monthly payments and payment due dates of the 6th of the month will remain unchanged
- Interest rates and related change parameters (Local Rewards only) will follow the original terms and conditions
- Cardholders currently receiving a promotional rate or benefit will continue to receive the promotional value on their new credit card until the benefit expires per the terms and conditions of the promotion.
- Monthly statements will be created on the 11th of each month (with a minimum of a 21-day statement cycle)
- Accumulated reward points (Local Rewards only) and related expiration dates, point values and calculation methods will remain unchanged.
4. When will I be receiving a new card?
New cards will be mailed out to all cardholders in late October and must be activated on or before November 13th for uninterrupted card usage.
5. What if I didn’t receive a new card?
There could be a few reasons you didn’t receive one, such as it being blocked due to fraud at the time of reissue, arriving late in the mail, etc. If you haven’t received a card by 11.09.2023, please contact us and we can check for you. As an FYI: Due to members having Lost / Damaged / Fraud occurrences over the past month, there will be a large number of cards being ordered and rushed on 11.13.2023, with an anticipated 2-day arrival.
6. Will my current card continue to work after the conversion?
No, existing cards will no longer work after November 13th, 2023.
7. Will all credit cards on my account be given the same new card number??
No, joint and authorized user card holders will each be given a unique card number to aid security. All transactions, for primary, joint cardholder, or authorized user on the card account will still be consolidated on one bill, with all the transactions on it.
8. What is a “contactless” card?
Contactless cards have special computer chips in them. This enables you to “tap” your card at any ATM / Point of Sale (Store) terminal with the contactless symbol. Contactless cards help prevent fraud caused by skimming devices placed on ATMS and other terminals, as well as providing more efficient usage.
9. Will contactless transactions require the use of a personal identification number [PIN] or will it process as a normal credit transaction?
For point-of-sale (store) or online purchases, contactless transactions will process as a normal credit transaction. If the card is being used to request a cash advance at an ATM, a PIN will be required.
10. How do I obtain a PIN for my credit card?
When activating your new credit card, you will be prompted to establish a PIN. If you would like to change or add a PIN to your credit card after activation, the activation phone number can be utilized at any time. The credit union can provide the number at a later date.
11. Will I need to re-enroll my card in my digital wallet (i.e. Apple Pay, Samsung Pay)?
Effective on November 13, digital wallet transactions initiated on Midcoast FCU CREDIT cards will be declined. Due to the account number change, all credit cards will need to re-enrolled for use in mobile wallets, however this service will be a Phase II feature of the conversion and may not be available until early 2024. Midcoast FCU DEBIT cards are not affected by the conversion and will continue to function properly in mobile wallets. Click FMI on mobile wallets.
12. What happens if my credit card is lost/stolen/damaged during this “Conversion”?
If your card is lost, stolen, damaged or has suspicious activities prior to October 20th, 2023, we will get you a new card as quickly as we can. If your card is lost or stolen between October 20th, 2023 and November 13th, 2023, you still need to notify the credit union of this, however, we will not be able to provide a new card to you until after November 13th, 2023. If we received notification from you during this time period, we will be ordering a replacement card on November 13th, 2023 and will be having it rushed to you.
Reward Points (For Perks/Local Rewards Cardholders only)
13. Will my current reward points transfer over?
Yes! Your current reward point totals will carry over to the new uChoose program with their existing expiration dates. Existing reward points may not appear on your first few credit card statements post-conversion, however you can contact the Credit Union for current balances and other details.
14. Will reward points accrue in the same way?
Yes, point accruals will continue without change.
15. Will the redemption value of my points change?
Rewards redemption options are similar to those under the current ScoreCard Rewards and will be of comparable value.
16. Will there be a blackout period for reward point activity during the conversion?
Rewards point accruals and redemptions will be unavailable between October 16th and November 13th. As a courtesy to our members for this inconvenience, all Local Rewards cardholders will receive a 500 Point Bonus credited post-conversion.
Credit Card Payment
17. Will my payment due day change?
- On your November Statement, your due date will show to be December 4th,2023. However, on our system, your Credit Card will not actually be due until December 6th. We understand this may be confusing, but No Late Fees will be all credit card payments during this time.
- On your December Statement and all Statements forward, your payment due date will be on the 6th of the month.
- New statements are generated on the 11th of each month, ensuring that we maintain a minimum of 21 days grace period between the statement date and payment due date.
18. Will my minimum monthly payment amount change?
Minimum monthly payments will continue to be calculated exactly the same. They are calculated to be either 3% of the outstanding balance as of the cycle close date or $30.00, whichever is greater.
19. I have automatic payments to pay my credit card bill each month, will I need to reset my automatic payments to my credit card?
- If you have established automatic payments from a Midcoast deposit account, the automated transfer will continue without any required action.
- If you set up automatic payment yourself, from a non-Midcoast deposit account, you will need to re-establish that transfer to update the card number as applicable. If we receive payments after November 13th, 2023 with an old card number, we will not be able to match it up to your new one, resulting in it being rejected.
20. Will I be able to make individual payments online?
Yes, cardholders will be able to make direct transfer payment from Midcoast Digital Banking.
21. Will payments be posted immediately now that cards will be under a loan number?
Yes! Payments and related changes to available credit limits will be reflected immediately upon posting, if the source is cash, electronic payment, or by approved check. Checks requiring a hold will be deposited into the member’s account and applied to the card for immediate credit once the hold has expired.
22. How will the process change for members that want to pay their credit card from a non-Midcoast account?
- You will be able to pay your credit card from an external account by using the “Make a Payment” option on the Credit union’s website or by using the “Pay by Swivel” option in digital banking.
- You can also log into your non-Midcoast account and send funds directly to your card at Midcoast, if your other online provider allows for payments to be sent.
23. What if a payment is delayed or otherwise impacted by the conversion?
The Credit union will not be assessing late payment fees for the first two payment cycles (approximately 60 days) post conversion.
24. Will we still be able to offer members the annual credit card Skip-A-Pay?
Yes! We have received confirmation we’re able to continue this. For 2024, you will have this information provided to you on your December Statement, for your January Payment. Your payment amount reflecting to be due for January 6th, 2024 will be $0. You can choose to make a payment toward your balance, but will not be required do. Your regularly scheduled payments will resume as of February.
25. I have automated/recurring charges and subscriptions (Netflix, CMP, Comcast, Insurance Companies, etc.) being charged to my Midcoast credit card, will I need to inform those companies of the new card number?
Yes. If the originating company uses “VISA Account updater”, no action by the cardholder will be required since the payment record will be transferred to the new card number. Otherwise, you will need to update the originator of the charge. Our suggestion is for you to review your statement charges and update these companies directly. We also strongly suggest to review future monthly statements to monitor those charges to ensure they transfer successfully.
Membership Account Related FAQs
26. Where will I see credit card account records?
Credit card accounts will appear on your account summary, just as they would for an auto loan or mortgage loan. In Online Digital Banking, it will appear in your Credit Card section of your accounts.
27. What if I have multiple membership accounts with the Credit union? How will I know with which account it will be associated?
Your Credit Card will continue to be associated with the account that it currently is.
28. Where credit cards will now be loan records, will the account need to remain open with just a share and the card?
Yes, at minimum you must maintain a share account with the $5.00 ownership share balance as long as you maintain an open credit card.
29. Will I now be able to make Credit Card payments through Shared Branching?
Yes, payments will now be able to be processed through Shared Branching.
30. I have two cards that are the same, how do I know which new card corresponds to the old card?
If you’re looking to get this information before November 13th, you can call us at 1-877-964-3262. Otherwise, after November 13th you’ll be able to see this right in your Digital Banking.
Statement and Alerts
31. Will I continue to receive a separate credit card statement, or will it be integrated into my deposit account statement?
You will continue to receive a separate “new look” credit card statement. Your Credit Card statement will be generated on the 11th of each month.
32. My credit card statement is set up for electronic delivery (eStatements), will that continue?
Possibly. As part of the conversion, we do wish we could maintain all of your delivery preferences exactly as it is currently, but we cannot. So, what we are doing is basing your Credit Card delivery options on your existing account statement preferences. This means:
- If your current deposit account is set up for eStatements, your credit card will be signed up for eStatements.
- If your current deposit account is set up for mailed paper statements, your credit card will automatically be set to mailed statements.
If you’d prefer different delivery options, you can change it! after November 13th, 2023, you will have the option to manage your delivery preferences within Online Digital Banking.
33. Where will I find my Credit Card eStatement?
Credit card eStatements will be located within our digital banking platform under eDocs.
Credit card statements that will be mailed, will be generated on the 11th and then mailed to the mailing address on file.
34. Will the alerts I had set up in EZCard Info need to be re-enrolled?
Yes, alert preferences will need to be re-established in digital banking after the conversion.
35. Will past statements be available for view in eDocs??
All cardholders will have six (6) months of statement history available to them in eDocs, post-conversion. If you need a statement beyond the six months, you can contact us directly and we can provide that to you. Note: Gathering an older statement can take some time, so providing us with a call or digital message ahead of time is recommended.
36. Will any transaction history be transferred at conversion?
Cycle to date transaction history will be converted. This means all transactions that posted since the last statement cutoff date, which will be November 9th, 2023, will appear. To view transactions prior to that, you’ll need to refer to previous statements.