Visa Application Revised

On the record for Visa Application Revised: a 13.9% purchase APR and a 2.99% introductory rate, filed by Peopleschoice Credit Union. The purchase rate sits at roughly the 12th percentile of the 4,587 agreements indexed here.

On the face of the filing

Visa Application Revised is one of the agreements Peopleschoice Credit Union has on file with the CFPB. The filing runs two pages, and It is issued on the Visa network.

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

The introductory rate

The introductory rate is 2.99%, held for six months. It is a discount rather than a holiday — interest still accrues, just more slowly than the go-to rate.

Among the 763 filings here that disclose an introductory rate, 2.99% sits at about the 79th percentile.

Once the introductory period ends the rate becomes 13.9%, which turns a lingering $3,000 balance into approximately $447 of annual interest.

The purchase rate in context

At 13.9%, the purchase APR falls at roughly the 12th percentile of the 2,280 filings indexed here, which sits well down in the cheaper fifth of the set.

The rate discussed in this section is the go-to rate — the one that applies once the promotional period described below has ended, not the promotional rate itself.

Translating the rate into money

At the disclosed purchase APR, $4,000 revolving for a full year costs something like $596 in interest.

Measured against the 21.99% corpus median, the same $4,000 costs approximately $387 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.

What the card costs before you borrow

For cash advances the filing discloses a cash advance APR of 2.99%. 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.

The filing discloses a 13.9% balance transfer rate without an accompanying fee figure.

The issuer's other agreements

8 separate Peopleschoice Credit Union filings appear in the corpus. The others all file the same 13.9% purchase rate. Whatever separates these products, it is not the cost of borrowing.

The limits of this document

This page cannot tell you an annual fee, a foreign transaction fee, a grace period and penalty pricing, because the filing's disclosure table as read does not contain them.

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.

Go to the source

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

13.9% places this filing at the inexpensive end of the set, which is the headline here.