Rewards Visa Signature for the Private Bank Summary of Credit Terms

Rewards Visa Signature for the Private Bank Summary of Credit Terms, as filed by Union Bank, carries a purchase APR of 13.99%–23.99% and a $199 annual fee. Against the 4,587 filings on this site, that rate lands around the 57th percentile.

What the agreement puts on the record

The document behind this page is Union Bank's filed agreement for Rewards Visa Signature for the Private Bank Summary of Credit Terms. It is issued on the Visa network and the filing runs five pages.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. A penalty rate, a foreign transaction fee and a grace period are not stated.

The purchase rate in context

This is a tiered agreement: the filing discloses a purchase APR anywhere from 13.99% to 23.99%, a spread of 10 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

Read against the index, the low end ranks around the 27th percentile and the high end around the 57th — the band straddles a wide stretch of the market this corpus describes.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

The cost of carrying a balance

The purchase rate turns a $1,000 revolving balance into roughly $271 of annual interest.

On a median-priced agreement from this index (21.99%) the same $1,000 would run about $246 a year, so this card costs in the region of $25 more annually for the identical balance.

There is also a floor: the filing sets a minimum interest charge of $1.75, so any cycle that accrues less than that is billed at $1.75 anyway.

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.

Charges beyond interest

The annual fee is $199, charged whether or not the card is used. Against the filings here that disclose a fee, that sits at roughly the 97th percentile.

One way to size that fee: at the card's own purchase rate of 23.99%, $199 is roughly the interest a balance of about $830 would generate in a year. The fee is a fixed cost that behaves like perpetual interest on that much debt.

For cash advances the filing discloses a cash advance fee of $15 or 5% of the advance, whichever is greater and a cash advance APR of 25.25%. That is 1.26 points above the purchase rate. Advances under roughly $300 are charged the flat $15; larger ones are charged 5%.

Transferred balances are priced at 13.99%; no separate transfer fee was captured from the filing.

The downside terms

No penalty APR appears in this filing by design — the document says there is none, which removes the single largest cost of a missed payment in most agreements here.

Late payments are capped at $0 under this filing, about the 2nd percentile of late fee maximums in the corpus.

The no-interest path

The $1.75 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

The issuer's other agreements

7 separate Union Bank filings appear in the corpus. The issuer's own range is 18.99%–23.99%. At 23.99%, this agreement is dearer than 2 of its siblings.

Among the issuer's other filings that disclose a fee, 5 of 5 come in below this card's $199.

What is outside the disclosure

This page cannot tell you a foreign transaction fee and a grace period, 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.

Reading the agreement yourself

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

In short

23.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. The $199 annual fee is charged regardless of use, so it is a cost that applies even to an account that never revolves.