VISA Credit Card Agreement and Disclosure (112021)

VISA Credit Card Agreement and Disclosure (112021), as filed by Rhode Island Credit Union, carries a 9.9% purchase APR, no annual fee and a 2.99% introductory rate. That purchase rate ranks near the 5th percentile across this corpus of 4,587 filings.

The disclosed terms

This page covers the agreement Rhode Island Credit Union filed for VISA Credit Card Agreement and Disclosure (112021). It is issued on the Visa network and the filing runs two pages.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. It is silent on a penalty rate.

What the promotional rate is worth

For the first six months the filing sets a reduced rate of 2.99%. Balances still cost something during that window.

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 9.9%, which turns a lingering $3,000 balance into approximately $312 of annual interest.

Where the purchase APR sits

Set beside the rest of the index, the purchase APR of 9.9% lands at the 5th percentile; it is among the very cheapest figures in the whole set.

This figure is the post-promotional rate. The introductory pricing is handled separately further down.

What the rate means in dollars

A $1,500 balance left untouched for twelve months accrues about $156 in interest at this purchase rate.

Priced at the median of 21.99%, that balance would generate about $369 in a year — so this agreement comes in around $213 cheaper for the same debt.

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.

Fees, and what triggers them

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.

Taking cash against the card means a cash advance fee of 2.5% and a cash advance APR of 9.9%.

The filing discloses a 9.9% balance transfer rate without an accompanying fee figure.

Foreign transactions attract 1%. On $3,000 of overseas spending that is $30, charged on top of whatever exchange rate applies.

Penalty pricing and late fees

On the fee side, a late payment can cost up to $35, which is around the 54th percentile here.

The grace period

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

The limits of this document

This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Go to the source

Everything here is a reading of the filed agreement, two pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

The purchase rate of 9.9% is one of the cheaper figures in this index — the central point in the agreement's favour.