VISA Signature Disclosure (Consumer)

Iq Credit Union's filed agreement for VISA Signature Disclosure (Consumer) discloses a purchase APR of 10.24%–16.24% and a $49 annual fee. The purchase rate sits at roughly the 17th percentile of the 4,587 agreements indexed here.

What the document actually states

Iq Credit Union filed this agreement for VISA Signature Disclosure (Consumer) with the Consumer Financial Protection Bureau. It is issued on the Visa network and the filing runs one page.

Terms captured from the document include a purchase rate, a balance transfer rate, an annual fee line, a late payment maximum and a grace period. No figure appears for a cash advance rate, a penalty rate and a foreign transaction fee.

The purchase APR against the corpus

The purchase APR is quoted as a range of 10.24% to 16.24%. That 6-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 12th percentile at the bottom and the 17th at the top.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

Translating the rate into money

Carry $3,000 on this card for a year without paying it down and the purchase rate alone generates roughly $529 in interest.

Measured against the 21.99% corpus median, the same $3,000 costs approximately $209 less per year here.

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.

Charges beyond interest

The annual fee is $49, charged whether or not the card is used. Against the filings here that disclose a fee, that sits at roughly the 87th percentile.

For scale, $49 is approximately what $302 of revolving balance would cost in interest over twelve months at this card's 16.24% rate.

The filing discloses a 10.24% balance transfer rate without an accompanying fee figure.

Default pricing

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

The grace period

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

Inside Iq Credit Union's filed lineup

Iq Credit Union has 6 agreements indexed on this site. Every one of the others that discloses a purchase rate discloses the same 17.24%, so the issuer's filings are near-identical on pricing and the differences between its cards lie outside the rate table.

Its $49 annual fee is higher than 2 of the 2 sibling filings that state one.

What the filing does not tell you

Absent from the captured terms: a foreign transaction fee and penalty pricing. The original document is the place to look for any of these.

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.

Reading the agreement yourself

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

In short

16.24% places this filing at the inexpensive end of the set, which is the headline here. Against that sits the $49 annual fee, which is unavoidable once the account is open.