Visa Platinum and Secured Pricing Disclosure

The Visa Platinum and Secured Pricing Disclosure filing from We Florida Financial sets out a purchase APR of 8.9%–16.9% and a $50 annual fee. That purchase rate ranks near the 20th percentile across this corpus of 4,587 filings.

The disclosed terms

Visa Platinum and Secured Pricing Disclosure is one of the agreements We Florida Financial has on file with the CFPB. It is issued on the Visa network and the filing runs one page.

On the record here: a purchase rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

A secured agreement

Secured cards work against a deposit held by the issuer. The rate and fee figures summarised here say nothing about the size of that deposit or the terms attached to it, both of which are matters for the agreement text itself.

Securing the line has not placed this agreement at the bottom of the market — 16.9% ranks near the 20th percentile across every filing indexed here.

The purchase APR against the corpus

The purchase APR is quoted as a range of 8.9% to 16.9%. That 8-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Read against the index, the low end ranks around the 6th percentile and the high end around the 20th — the band straddles a wide stretch of the market this corpus describes.

The cost of carrying a balance

At the disclosed purchase APR, $2,500 revolving for a full year costs something like $460 in interest.

Measured against the 21.99% corpus median, the same $2,500 costs approximately $154 less per year here.

Per statement cycle that is on the order of $34.96 on $2,500, which is the number that actually shows up on a bill.

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.

The grace period

Purchases carry a 21-day grace period: pay the statement in full inside it and the purchase rate never applies. That is shorter than the 25-day corpus median.

The $1.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

The downside terms

The maximum late fee is $25 — roughly the 32nd percentile of the late fee ceilings disclosed across this index.

Charges beyond interest

$50 a year is the disclosed annual fee, which ranks near the 88th percentile of the fees filed across this corpus.

A first-year waiver applies according to the document — the $50 begins biting in year two.

The filing sets a 3% foreign transaction fee, which adds roughly $45 to $1,500 spent outside the United States.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

How it sits in the issuer's own range

5 separate We Florida Financial filings appear in the corpus.

The limits of this document

The disclosure parsed here does not state anything about cash advances, balance transfer terms and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

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.

Reading the agreement yourself

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

In short

At 16.9% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost. Note that the $50 annual fee falls due whether the card is used or not.