Rewards Visa Credit Card Agreement and Disclosure 9 99 %

Rewards Visa Credit Card Agreement and Disclosure 9 99 %, as filed by Landmark Credit Union, carries a 0% purchase APR, no annual fee, a 9.99% introductory rate and a 29.99% penalty rate. That purchase rate ranks near the 1st percentile across this corpus of 4,587 filings.

On the face of the filing

The document behind this page is Landmark Credit Union's filed agreement for Rewards Visa Credit Card Agreement and Disclosure 9 99 %. It is issued on the Visa network and the filing runs two pages.

The disclosure covers a purchase rate, a cash advance rate, a penalty rate, an annual fee line and a grace period. No figure appears for a balance transfer rate, a late payment maximum and a foreign transaction fee.

What the promotional rate is worth

The filing discloses an introductory rate of 9.99% but no term for it.

Among the 763 filings here that disclose an introductory rate, 9.99% sits at about the 92nd percentile.

Once the introductory period ends the rate becomes 0%, which turns a lingering $2,500 balance into approximately $0 of annual interest.

Where the purchase APR sits

Ranked against the corpus, this purchase APR — 0% — sits at approximately the 1st percentile and is lower than almost every other agreement here.

Translating the rate into money

At the disclosed purchase APR, $1,500 revolving for a full year costs something like $0 in interest.

Priced at the median of 21.99%, that balance would generate about $369 in a year — so this agreement comes in around $369 cheaper for the same debt.

Small balances do not get a proportionally small bill — the agreement imposes a $1 minimum interest charge in any month where interest applies.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

The grace period

27 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. Against a corpus median of 25 days, this is a wider window than usual.

A minimum interest charge of $1 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

Penalty pricing and late fees

The agreement discloses penalty pricing of 29.99% — about the 61st percentile of the 794 penalty rates recorded across this index.

The jump from 0% to 29.99% is 29.99 percentage points, worth roughly $1,049 extra per year on $3,000 of balance.

What the card costs before you borrow

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

For cash advances the filing discloses a cash advance APR of 12.99%. Cash is therefore 12.99 points dearer than buying something with the card.

Against the rest of Landmark Credit Union's filings

22 separate Landmark Credit Union filings appear in the corpus. Their disclosed purchase rates run from 0% to 23.99%, and this one at 0% is more expensive than 0 of them.

8 of the issuer's other 10 disclosing filings are likewise fee-free.

What the filing does not tell you

Absent from the captured terms: balance transfer terms 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 filed PDF is linked from this page and runs two pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

At 0% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.