Visa Platinum Points Rewards Disclosure Members 1st FCU

Members 1st Federal Credit Union's filed agreement for Visa Platinum Points Rewards Disclosure Members 1st FCU discloses a purchase APR of 15.5%–18% and no annual fee. The purchase rate sits at roughly the 34th percentile of the 4,587 agreements indexed here.

On the face of the filing

What follows is drawn entirely from Members 1st Federal Credit Union's CFPB filing for Visa Platinum Points Rewards Disclosure Members 1st FCU. The filing runs two pages, and It is issued on the Visa network.

On the record here: a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a foreign transaction fee. No figure appears for a balance transfer rate, a penalty rate and a grace period.

Pricing the purchase rate

The purchase APR is quoted as a range of 15.5% to 18%. That 2.5-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

The floor of that band sits at about the 37th percentile of filed purchase rates; the ceiling sits at about the 34th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

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

The purchase rate turns a $2,500 revolving balance into roughly $493 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $2,500 would cost about $615 a year. This filing saves roughly $122 annually against that benchmark.

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.

What a missed payment costs

On the fee side, a late payment can cost up to $15, which is around the 11th percentile here.

Charges beyond interest

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

For cash advances the filing discloses a cash advance APR of 15.5%.

No foreign transaction fee is charged, which puts this filing in the roughly 22% of disclosing agreements here that do not take a cut of overseas spending.

Inside Members 1st Federal Credit Union's filed lineup

Members 1st Federal Credit Union has 6 agreements indexed on this site.

The limits of this document

Absent from the captured terms: a grace period 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

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

18% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.