Visa Agreement and Truth in Lending Disclosure

Educational Community Credit Union's filed agreement for Visa Agreement and Truth in Lending Disclosure discloses a 12.96% purchase APR. Against the 4,587 filings on this site, that rate lands around the 10th percentile.

What the document actually states

Educational Community Credit Union submitted the terms for Visa Agreement and Truth in Lending Disclosure to the CFPB's agreement database; this is what they contain. The filing runs two pages, and It is issued on the Visa network.

Terms captured from the document include a purchase rate, a cash advance rate, a balance transfer rate, a late payment maximum and a grace period. A penalty rate, an annual fee line and a foreign transaction fee are not stated.

The purchase APR against the corpus

12.96% puts the purchase APR near the 10th percentile across 2,280 agreements, so it falls in the low band of the corpus.

The arithmetic of revolving

Carry $1,200 on this card for a year without paying it down and the purchase rate alone generates roughly $166 in interest.

The corpus median purchase rate is 21.99%, which on the same $1,200 would cost about $295 a year. This filing saves roughly $129 annually against that benchmark.

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.

Charges beyond interest

Taking cash against the card means a cash advance APR of 12.96%. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

The filing discloses a 12.96% balance transfer rate without an accompanying fee figure.

The grace period

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.

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

The downside terms

The maximum late fee is $25 — roughly the 32nd percentile of the late fee ceilings disclosed across this index.

What you cannot learn from the filing

The disclosure parsed here does not state an annual fee, 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.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Go to the source

The original filing, 2 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

At 12.96% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost.