B 16 75 VISA Rewards ACCT Disclosures ELGACU

On the record for B 16 75 VISA Rewards ACCT Disclosures ELGACU 01 01 26: a 16.75% purchase APR and no annual fee, filed by Elga Credit Union. That purchase rate ranks near the 19th percentile across this corpus of 4,587 filings.

What the document actually states

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

On the record here: a purchase rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

The purchase APR against the corpus

The purchase APR of 16.75% places this agreement around the 19th percentile of the set — it reads as inexpensive against the rest of the filings.

The cost of carrying a balance

Carry $2,000 on this card for a year without paying it down and the purchase rate alone generates roughly $365 in interest.

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.

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.

Fees, and what triggers them

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

Spending abroad costs an extra 2% — about $40 on $2,000 of purchases, independent of interest.

What a missed payment costs

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

The limits of this document

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.

The issuer's other agreements

30 separate Elga Credit Union filings appear in the corpus. Their disclosed purchase rates run from 11.75% to 20.75%, and this one at 16.75% is more expensive than 16 of them.

Where the authority sits

This summary stands or falls on the linked PDF — one page. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

The purchase rate of 16.75% is one of the cheaper figures in this index — the central point in the agreement's favour.