Visa Disclosure

Alliant Credit Union's filed agreement for Visa Disclosure discloses a purchase APR of 15.49%–27.49%, a $5 annual fee, a 5.99% introductory rate and a 9.99% penalty rate. Against the 4,587 filings on this site, that rate lands around the 66th percentile.

What the agreement puts on the record

Alliant Credit Union submitted the terms for Visa Disclosure to the CFPB's agreement database; this is what they contain. The filing runs two pages, and It is issued on the Visa network.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line. It is silent on a foreign transaction fee and a grace period.

The filing bundles multiple products into one disclosure table. Any figure quoted here may describe a related card in the same filing, so the PDF should be read before treating these numbers as this card's own.

What the promotional rate is worth

A promotional rate of 5.99% applies for 12 months under this agreement — lower than the standard rate, but not free.

Among the 763 filings here that disclose an introductory rate, 5.99% sits at about the 89th percentile.

Behind the promotion sits a 27.49% purchase rate. On $3,000 that is in the region of $949 a year once the window closes.

Where the purchase APR sits

The purchase APR is quoted as a range of 15.49% to 27.49%. That 12-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 36th percentile of filed purchase rates; the ceiling sits at about the 66th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

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.

The arithmetic of revolving

A $5,000 balance left untouched for twelve months accrues about $1,581 in interest at this purchase rate.

A card priced at the corpus median of 21.99% would charge roughly $1,229 on that balance. This one charges about $352 more per year.

Per statement cycle that is on the order of $114.22 on $5,000, 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.

When a payment is late

A penalty APR of 9.99% 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 2nd percentile.

$27 is the disclosed ceiling on a late payment fee, placing it near the 45th percentile of the set.

What the card costs before you borrow

The annual fee is $5, charged whether or not the card is used. Against the filings here that disclose a fee, that sits at roughly the 76th percentile.

One way to size that fee: at the card's own purchase rate of 27.49%, $5 is roughly the interest a balance of about $18 would generate in a year. The fee is a fixed cost that behaves like perpetual interest on that much debt.

A first-year waiver applies according to the document — the $5 begins biting in year two.

For cash advances the filing discloses a cash advance fee of 2% and a cash advance APR of 30.49%. Cash is therefore 3 points dearer than buying something with the card. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

The transfer fee is $10 or 3% of the amount transferred, whichever is greater; transferred balances then run at 15.49%. Transferring $7,500 would cost roughly $225 at the door.

Paying in full

A minimum interest charge of $1 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

How it sits in the issuer's own range

This is one of 10 Alliant Credit Union agreements collected here. The issuer's own range is 26.24%–27.49%. At 27.49%, this agreement is dearer than 2 of its siblings.

Its $5 annual fee is higher than 2 of the 3 sibling filings that state one.

The limits of this document

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.

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.

Where the authority sits

Everything here is a reading of the filed agreement, two 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 27.49% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. The $5 annual fee is charged regardless of use, so it is a cost that applies even to an account that never revolves. The multi-product table is the larger caveat: these numbers are the table's, not necessarily this card's.