Visa Credit Card Account Opening Disclosure

On the record for Visa Credit Card Account Opening Disclosure: a purchase APR of 5.74%–22.24%, filed by Financial Center Credit Union. Against the 4,587 filings on this site, that rate lands around the 51st percentile.

On the face of the filing

The document behind this page is Financial Center Credit Union's filed agreement for Visa Credit Card Account Opening Disclosure. The filing runs four pages, and It is issued on the Visa network.

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

Where the purchase APR sits

Purchases price between 5.74% and 22.24% under this filing. The 16.5-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

The floor of that band sits at about the 2nd percentile of filed purchase rates; the ceiling sits at about the 51st. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

Translating the rate into money

The purchase rate turns a $1,200 revolving balance into roughly $299 of annual interest.

A card priced at the corpus median of 21.99% would charge roughly $295 on that balance. This one charges about $4 more per year.

Broken down to a single thirty-day cycle, the same balance accrues roughly $22.13.

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 no-interest path

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

Default pricing

Late payments are capped at $10 under this filing, about the 6th percentile of late fee maximums in the corpus.

Fees, and what triggers them

Cash advances carry a cash advance APR of 5.74%. 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.

Transferred balances are priced at 5.74%; no separate transfer fee was captured from the filing.

Spending abroad costs an extra 1% — about $15 on $1,500 of purchases, independent of interest.

What is outside the disclosure

The disclosure parsed here does not state an annual 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, 4 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

22.24% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.