Earned Premium Visa Signature Rewards Account Opening Disclosure

Generations Federal Credit Union's filed agreement for Earned Premium Visa Signature Rewards Account Opening Disclosure discloses a 18% purchase APR and no annual fee. That purchase rate ranks near the 34th percentile across this corpus of 4,587 filings.

What the document actually states

Generations Federal Credit Union filed this agreement for Earned Premium Visa Signature Rewards Account Opening Disclosure with the Consumer Financial Protection Bureau. The filing runs three pages, and It is issued on the Visa network.

On the record here: 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 row carrying the purchase rate is unlabelled in the original document; it is reported here as the most likely purchase figure rather than a certain one.

The purchase APR against the corpus

The purchase APR of 18% places this agreement around the 34th percentile of the set — it comes in under the midpoint of the corpus.

The arithmetic of revolving

At the disclosed purchase APR, $1,000 revolving for a full year costs something like $197 in interest.

The corpus median purchase rate is 21.99%, which on the same $1,000 would cost about $246 a year. This filing saves roughly $49 annually against that benchmark.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

The grace period

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.

Penalty pricing and late fees

Late payments are capped at $20 under this filing, about the 17th percentile of late fee maximums in the corpus.

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.

A balance transfer costs $5 or 3% of the amount transferred, whichever is greater up front. The filing does not separately state the rate applied to transferred balances. On $7,500 that fee is about $225 before any interest is charged.

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

How it sits in the issuer's own range

This is one of 4 Generations Federal Credit Union agreements collected here. The others all file the same 18% purchase rate. Whatever separates these products, it is not the cost of borrowing.

What you cannot learn from the filing

This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.

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.

Where the authority sits

The filed PDF is linked from this page and runs three pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

The pricing here is middling by the standards of the index — 18% on purchases is near enough to typical.