Disclosed rates and fees
Every figure below was read from this issuer's filed agreement. Anything the filing does not state is left out of this table rather than shown as zero.
| Annual fee | $0 |
|---|---|
| Late payment fee | up to $25 |
| Foreign transaction fee | 1% |
| Cash advance fee | $3.00 |
| Balance transfer fee | $10.00 or 3.00% of the amount of each |
| Grace period | 25 days |
| Minimum interest charge | $0 |
| Network | Visa |
Analysis
Visa Credit Card Application and Solicitation Disclosure, as filed by Summit Credit Union, carries no annual fee.
On the face of the filing
Visa Credit Card Application and Solicitation Disclosure is one of the agreements Summit Credit Union has on file with the CFPB. The filing runs three pages, and It is issued on the Visa network.
The disclosure covers an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. A purchase rate, a cash advance rate and a balance transfer rate are not stated.
Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.
Fees, and what triggers them
No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.
For cash advances the filing discloses a cash advance fee of $3.
A balance transfer costs $10 or 3% of the amount transferred, whichever is greater up front. The filing does not separately state the rate applied to transferred balances. Transferring $7,500 would cost roughly $225 at the door.
Foreign transactions attract 1%. On $3,000 of overseas spending that is $30, charged on top of whatever exchange rate applies.
What a missed payment costs
$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.
The grace period
Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.
No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.
How it sits in the issuer's own range
44 separate Summit Credit Union filings appear in the corpus. Their disclosed purchase rates run from 12.4% to 20.9%, though this particular filing does not state one in comparable form.
What is outside the disclosure
This page cannot tell you a purchase rate and penalty pricing, because the filing's disclosure table as read does not contain them.
An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.
Go to the source
The filed PDF is linked from this page and runs three pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.
In short
Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.
The source document
This page is a reading of one document: the cardholder agreement Summit Credit Union filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.
Applications are handled by Summit Credit Union, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Summit Credit Union
-
Solicitation Notice
Agreement filed with the CFPB
- Annual fee
- $0
- Foreign tx fee
- 1%
-
Solicitation Notice
Agreement filed with the CFPB
- Annual fee
- $0
- Foreign tx fee
- 1%
-
Solicitation Notice
Agreement filed with the CFPB
- Annual fee
- $0
- Foreign tx fee
- 1%
-
Solicitation Notice
Agreement filed with the CFPB
- Annual fee
- $0
- Foreign tx fee
- 1%
Where this card sits
Groups this agreement qualifies for, by its own disclosed terms:
Comparable cards from other issuers
Closest disclosed purchase APR among cards in the same groups.