Starter Visa Credit Card Agreement and Disclosure

On the record for Starter Visa Credit Card Agreement and Disclosure: a 16.74% purchase APR, a $30 annual fee and a 29.99% penalty rate, filed by Landmark Credit Union. Against the 4,587 filings on this site, that rate lands around the 19th percentile.

On the face of the filing

Landmark Credit Union filed this agreement for Starter Visa Credit Card Agreement and Disclosure with the Consumer Financial Protection Bureau. The filing runs two pages, and It is issued on the Visa network.

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.

The purchase rate in context

Measured against every other filing on the site, 16.74% is about the 19th percentile for purchase APR; it sits well down in the cheaper fifth of the set.

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

Carry $2,000 on this card for a year without paying it down and the purchase rate alone generates roughly $364 in interest.

A typical filing in this index would charge about $492 on that balance; this one is roughly $127 a year below it.

Note the $1 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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 no-interest path

Anyone clearing the statement balance inside 27 days pays no purchase interest at all under this filing. The median across this index is 25 days, so this filing is more generous than most.

The $1 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

When a payment is late

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

The jump from 16.74% to 29.99% is 13.25 percentage points, worth roughly $335 extra per year on $2,000 of balance.

Charges beyond interest

$30 a year is the disclosed annual fee, which ranks near the 80th percentile of the fees filed across this corpus.

Expressed in the card's own terms, the $30 fee equals about a year's interest on a $179 balance at the disclosed 16.74% purchase rate.

Cash advances carry a cash advance APR of 23.99%. That is 7.25 points above the purchase rate. 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.

Inside Landmark Credit Union's filed lineup

22 separate Landmark Credit Union filings appear in the corpus. The issuer's own range is 0%–23.99%. At 16.74%, this agreement is dearer than 8 of its siblings.

Among the issuer's other filings that disclose a fee, 10 of 10 come in below this card's $30.

What you cannot learn from the filing

This page cannot tell you a foreign transaction fee, 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.

The document itself

This summary stands or falls on the linked PDF — two pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

The purchase rate of 16.74% is one of the cheaper figures in this index — the central point in the agreement's favour. Against that sits the $30 annual fee, which is unavoidable once the account is open.