AFCU Visa Disclosure 8

AFCU Visa Disclosure 8 2023, as filed by Affinity Federal Credit Union, carries a purchase APR of 13.85%–17.25% and no annual fee. That purchase rate ranks near the 22nd percentile across this corpus of 4,587 filings.

On the face of the filing

The document behind this page is Affinity Federal Credit Union's filed agreement for AFCU Visa Disclosure 8 2023. The filing runs one page, and It is issued on the Visa network.

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

The purchase APR against the corpus

The purchase APR is quoted as a range of 13.85% to 17.25%. That 3.4-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 26th percentile and the high end around the 22nd — the band straddles a wide stretch of the market this corpus describes.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

Translating the rate into money

At the disclosed purchase APR, $5,000 revolving for a full year costs something like $941 in interest.

A typical filing in this index would charge about $1,229 on that balance; this one is roughly $288 a year below it.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

Fees, and what triggers them

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

Cash advances carry a cash advance APR of 18%. That is 0.75 points above the purchase rate. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Spending abroad costs an extra 2% — about $40 on $2,000 of purchases, independent of interest.

Penalty pricing and late fees

Late payments are capped at $27 under this filing, about the 45th percentile of late fee maximums in the corpus.

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

Inside Affinity Federal Credit Union's filed lineup

Affinity Federal Credit Union has 7 agreements indexed on this site.

The limits of this document

Absent from the captured terms: balance transfer terms and penalty pricing. The original document is the place to look for any of these.

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.

The document itself

The original filing, 1 page long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

17.25% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.