B 16 75 VISA Cash Back ACCT Disclosures ELGACU

The B 16 75 VISA Cash Back ACCT Disclosures ELGACU 01 01 26 filing from Elga Credit Union sets out a 16.75% purchase APR and no annual fee. Against the 4,587 filings on this site, that rate lands around the 19th percentile.

What the document actually states

What follows is drawn entirely from Elga Credit Union's CFPB filing for B 16 75 VISA Cash Back ACCT Disclosures ELGACU 01 01 26. It is issued on the Visa network and the filing runs one page.

The filing is explicit about a purchase rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

The purchase rate in context

Set beside the rest of the index, the purchase APR of 16.75% lands at the 19th percentile; it is comfortably below what most issuers filed.

The cost of carrying a balance

A $2,000 balance left untouched for twelve months accrues about $365 in interest at this purchase rate.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $127 annually against that benchmark.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

Fees, and what triggers them

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.

The filing sets a 2% foreign transaction fee, which adds roughly $60 to $3,000 spent outside the United States.

Grace period and minimum charge

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

Default pricing

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

Inside Elga Credit Union's filed lineup

There are 30 filings from Elga Credit Union in this index. The issuer's own range is 11.75%–20.75%. At 16.75%, this agreement is dearer than 16 of its siblings.

What you cannot learn from the filing

The disclosure parsed here does not state 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.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Go to the source

The original filing, 1 page 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

16.75% places this filing at the inexpensive end of the set, which is the headline here. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.