Visa Platinum

Westmark Credit Union's filed agreement for Visa Platinum discloses a purchase APR of 12.5%–16.5%, no annual fee and a 18% penalty rate. Against the 4,587 filings on this site, that rate lands around the 18th percentile.

What the agreement puts on the record

The document behind this page is Westmark Credit Union's filed agreement for Visa Platinum. The filing runs four pages, and It is issued on the Visa network.

Terms captured from the document include a purchase rate, a penalty rate, an annual fee line, a late payment maximum and a foreign transaction fee. It is silent on a cash advance rate and a balance transfer rate.

The purchase rate in context

Purchases price between 12.5% and 16.5% under this filing. The 4-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

The floor of that band sits at about the 20th percentile of filed purchase rates; the ceiling sits at about the 18th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

What a balance actually costs

Put $1,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $269.

The corpus median purchase rate is 21.99%, which on the same $1,500 would cost about $369 a year. This filing saves roughly $100 annually against that benchmark.

Month to month it reads as about $20.48 per cycle on that balance.

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.

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.

Foreign transactions attract 1%. On $3,000 of overseas spending that is $30, charged on top of whatever exchange rate applies.

Penalty pricing and late fees

A penalty APR of 18% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 19th percentile.

The jump from 16.5% to 18% is 1.5 percentage points, worth roughly $36 extra per year on $2,000 of balance.

Late payments are capped at $15 under this filing, about the 11th percentile of late fee maximums in the corpus.

The no-interest path

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

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

The limits of this document

This page cannot tell you balance transfer terms, because the filing's disclosure table as read does not contain it.

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.

Reading the agreement yourself

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

In short

At 16.5% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost.