Visa Platinum Rewards Credit Card Disclosure

00030 Visa Platinum Rewards Credit Card Disclosure, as filed by SAFE Federal Credit Union, carries a purchase APR of 14.24%–18%, no annual fee, a 12-month 0% opening period and a 18% penalty rate. Against the 4,587 filings on this site, that rate lands around the 34th percentile.

On the face of the filing

SAFE Federal Credit Union submitted the terms for 00030 Visa Platinum Rewards Credit Card Disclosure to the CFPB's agreement database; this is what they contain. The filing runs 12 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 late payment maximum. It is silent on a balance transfer rate.

The promotional period

A 12-month promotional period at 0% is on the record here — during it, qualifying balances cost nothing to carry.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

The go-to rate is 18%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $197 a year on $1,000.

The promotional window is therefore worth something on the order of $197 on $1,000, measured against the same balance priced at the standard rate for the same period.

Pricing the purchase rate

Rather than a single purchase rate, the document gives a band — 14.24% at the bottom, 18% at the top, 3.76 points wide. The agreement discloses the range without disclosing how an account is placed within it.

The floor of that band sits at about the 28th 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.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

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.

What the rate means in dollars

A $2,000 balance left untouched for twelve months accrues about $394 in interest at this purchase rate.

A typical filing in this index would charge about $492 on that balance; this one is roughly $97 a year below it.

Broken down to a single thirty-day cycle, the same balance accrues roughly $29.80.

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.

Penalty pricing and late fees

The agreement discloses penalty pricing of 18% — about the 19th percentile of the 794 penalty rates recorded across this index.

Late payments are capped at $38 under this filing, about the 60th percentile of late fee maximums in the corpus.

Charges beyond interest

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 14.24%.

Foreign transactions attract 1%. On $2,000 of overseas spending that is $20, charged on top of whatever exchange rate applies.

The no-interest path

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

Against the rest of SAFE Federal Credit Union's filings

4 separate SAFE Federal Credit Union filings appear in the corpus. Every one of the others that discloses a purchase rate discloses the same 18%, so the issuer's filings are near-identical on pricing and the differences between its cards lie outside the rate table.

What you cannot learn from the filing

Absent from the captured terms: balance transfer terms. The original document is the place to look for any of these.

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.

Where the authority sits

The filed PDF is linked from this page and runs 12 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

The pricing here is middling by the standards of the index — 18% on purchases is near enough to typical.