Low Rate Visa

Dow Credit Union's filed agreement for Low Rate Visa discloses a 10.49% purchase APR, no annual fee and a 15-month 0% opening period. Against the 4,587 filings on this site, that rate lands around the 6th percentile.

On the face of the filing

Dow Credit Union submitted the terms for Low Rate Visa to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs seven pages.

Terms captured from the document include a purchase rate, an annual fee line, a late payment maximum and a grace period. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.

The promotional period

The filing discloses a 0% introductory rate running 15 months. For that window, balances covered by the promotion accrue no interest at all.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

What matters more than the promotion is the rate waiting behind it: 10.49%. A $2,500 balance that survives the promotional window costs roughly $276 a year from that point on.

Put the other way round, the 15-month zero rate is worth roughly $346 on a $2,500 balance relative to paying the go-to rate from day one — a real figure, but one that only materialises for someone who was going to carry that balance anyway.

The purchase APR against the corpus

Set beside the rest of the index, the purchase APR of 10.49% lands at the 6th percentile; it is comfortably below what most issuers filed.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

The cost of carrying a balance

Carry $4,000 on this card for a year without paying it down and the purchase rate alone generates roughly $442 in interest.

The corpus median purchase rate is 21.99%, which on the same $4,000 would cost about $983 a year. This filing saves roughly $541 annually against that benchmark.

Month to month it reads as about $34.63 per cycle on that balance.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

The grace period

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

What a missed payment costs

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

The fee structure

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

Against the rest of Dow Credit Union's filings

Dow Credit Union has 3 agreements indexed on this site. The issuer's own range is 12.49%–13.49%. At 10.49%, this agreement is dearer than 0 of its siblings.

What you cannot learn from the filing

The disclosure parsed here does not state anything about cash advances, balance transfer terms, a foreign transaction fee and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Go to the source

The filed PDF is linked from this page and runs seven pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

10.49% places this filing at the inexpensive end of the set, which is the headline here. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.