Disclosed rates and fees
Every figure below was read from this issuer's filed agreement. Anything the filing does not state is left out of this table rather than shown as zero.
| Purchase APR | 7% (variable) |
|---|---|
| Late payment fee | up to $33 |
| Grace period | 27 days |
| Network | Visa |
Analysis
The Visa Credit Card Agreement and TIL Disclosure filing from Fedchoice Federal Credit Union sets out a 7% purchase APR. That purchase rate ranks near the 3rd percentile across this corpus of 4,587 filings.
The disclosed terms
The document behind this page is Fedchoice Federal Credit Union's filed agreement for Visa Credit Card Agreement and TIL Disclosure. It is issued on the Visa network and the filing runs six pages.
The filing is explicit about a purchase rate, a late payment maximum and a grace period. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.
Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.
The purchase APR against the corpus
The purchase APR of 7% places this agreement around the 3rd percentile of the set — it lands at the extreme low end of the filings.
Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.
What a balance actually costs
At the disclosed purchase APR, $3,000 revolving for a full year costs something like $218 in interest.
Priced at the median of 21.99%, that balance would generate about $738 in a year — so this agreement comes in around $520 cheaper for the same debt.
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
Purchases carry a 27-day grace period: pay the statement in full inside it and the purchase rate never applies. That is longer than the corpus median of 25 days.
The downside terms
On the fee side, a late payment can cost up to $33, which is around the 50th percentile here.
The limits of this document
Absent from the captured terms: anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee. The original document is the place to look for any of these.
An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.
Reading the agreement yourself
The original filing, 6 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
The purchase rate of 7% is one of the cheaper figures in this index — the central point in the agreement's favour. All of this rests on figures read from the filing with less than full confidence, which is reason enough to check the document before relying on any of it.
The source document
This page is a reading of one document: the cardholder agreement Fedchoice Federal Credit Union filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.
Applications are handled by Fedchoice Federal Credit Union, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Fedchoice Federal Credit Union
This is the only agreement from Fedchoice Federal Credit Union in the database with enough disclosed terms to publish. See the issuer's full filing list.
Where this card sits
Groups this agreement qualifies for, by its own disclosed terms:
Comparable cards from other issuers
Closest disclosed purchase APR among cards in the same groups.