Visa Indie Disclosure

Americas First Federal Credit Union's filed agreement for Visa Indie Disclosure discloses a 14.8% purchase APR and no annual fee. The purchase rate sits at roughly the 14th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

Americas First Federal Credit Union filed this agreement for Visa Indie Disclosure with the Consumer Financial Protection Bureau. It is issued on the Visa network and the filing runs one page.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. A penalty rate and a foreign transaction fee are not stated.

The purchase rate in context

The purchase APR of 14.8% places this agreement around the 14th percentile of the set — it is comfortably below what most issuers filed.

What a balance actually costs

Put $3,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $478.

The corpus median purchase rate is 21.99%, which on the same $3,000 would cost about $738 a year. This filing saves roughly $259 annually against that benchmark.

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.

The fee structure

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.

For cash advances the filing discloses a cash advance APR of 14.8%.

Transferred balances are priced at 14.8%; no separate transfer fee was captured from the filing.

Default pricing

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

Paying in full

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. 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.

What the filing does not tell you

The disclosure parsed here does not state a foreign transaction fee 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.

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.

Against the rest of Americas First Federal Credit Union's filings

11 separate Americas First Federal Credit Union filings appear in the corpus. Across that lineup purchase rates span 7.8% to 14.8%; this filing's 14.8% sits above 4 of the comparable ones.

4 of the issuer's other 5 disclosing filings are likewise fee-free.

Where the authority sits

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

At 14.8% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost. The absence of an annual fee means the rate is the only thing that can make this card expensive.