Crystal Visa June 2021 Agreement

The Crystal Visa June 2021 Agreement filing from Farmers Insurance Federal Credit Union sets out a purchase APR of 12.99%–18%, a $99 annual fee and a 2% introductory rate. That purchase rate ranks near the 34th percentile across this corpus of 4,587 filings.

On the face of the filing

Crystal Visa June 2021 Agreement is one of the agreements Farmers Insurance Federal Credit Union has on file with the CFPB. It is issued on the Visa network and the filing runs two pages.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. It is silent on a penalty rate and a foreign transaction fee.

What the promotional rate is worth

An introductory rate of 2% appears without a disclosed duration.

Among the 763 filings here that disclose an introductory rate, 2% sits at about the 70th percentile.

Once the introductory period ends the rate becomes 18%, which turns a lingering $2,000 balance into approximately $394 of annual interest.

Pricing the purchase rate

The purchase APR is quoted as a range of 12.99% to 18%. That 5.01-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Those two numbers occupy very different places in the corpus: roughly the 23rd percentile at the bottom and the 34th at the top.

What the rate means in dollars

At the disclosed purchase APR, $1,500 revolving for a full year costs something like $296 in interest.

Measured against the 21.99% corpus median, the same $1,500 costs approximately $73 less per year here.

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

$99 a year is the disclosed annual fee, which ranks near the 93rd percentile of the fees filed across this corpus.

Cash advances carry a cash advance APR of 12.99%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 12.99%; no separate transfer fee was captured from the filing.

The grace period

Anyone clearing the statement balance inside 21 days pays no purchase interest at all under this filing. The typical filing here allows 25 days, so this one is tighter than most.

Default pricing

Late payments are capped at $30 under this filing, about the 49th percentile of late fee maximums in the corpus.

The issuer's other agreements

4 separate Farmers Insurance Federal Credit Union filings appear in the corpus. Every one of the others that discloses a purchase rate discloses the same 18%, so the issuer's filings are near-identical on pricing and the differences between its cards lie outside the rate table.

What is outside the disclosure

This page cannot tell you a foreign transaction fee and penalty pricing, because the filing's disclosure table as read does not contain them.

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.

Where the authority sits

Everything here is a reading of the filed agreement, two pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

The pricing here is middling by the standards of the index — 18% on purchases is near enough to typical. The $99 annual fee is charged regardless of use, so it is a cost that applies even to an account that never revolves.