Visa Credit Card Agreement

On the record for Visa Credit Card Agreement: a purchase APR of 0%–2.99%, no annual fee and a 2.99% introductory rate, filed by United Federal Credit Union. The purchase rate sits at roughly the 2nd percentile of the 4,587 agreements indexed here.

What the document actually states

United Federal Credit Union submitted the terms for Visa Credit Card Agreement to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs five pages.

The disclosure covers a purchase rate, a balance transfer rate, an annual fee line, a late payment maximum and a foreign transaction fee. A cash advance rate and a penalty rate are not stated.

Introductory pricing

A promotional rate of 2.99% applies for six months under this agreement — lower than the standard rate, but not free.

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

The go-to rate is 2.99%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $76 a year on $2,500.

The purchase APR against the corpus

The purchase APR is quoted as a range of 0% to 2.99%. That 2.99-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

The floor of that band sits at about the 1st percentile of filed purchase rates; the ceiling sits at about the 2nd. In corpus terms the same card can be cheap or expensive depending on how it is priced.

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 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

The purchase rate turns a $1,000 revolving balance into roughly $30 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $1,000 would cost about $246 a year. This filing saves roughly $216 annually against that benchmark.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

The no-interest path

Purchases carry a 21-day grace period: pay the statement in full inside it and the purchase rate never applies. The typical filing here allows 25 days, so this one is tighter than most.

The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.

The downside terms

On the fee side, a late payment can cost up to $39, which is around the 63rd percentile here.

What the card costs before you borrow

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.

The filing discloses a 7.74% balance transfer rate without an accompanying fee figure.

No foreign transaction fee is charged, which puts this filing in the roughly 22% of disclosing agreements here that do not take a cut of overseas spending.

What you cannot learn from the filing

This page cannot tell you anything about cash advances and penalty pricing, because the filing's disclosure table as read does not contain them.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Go to the source

This summary stands or falls on the linked PDF — five pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

2.99% places this filing at the inexpensive end of the set, which is the headline here. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.