Rewards Visa

On the record for Rewards Visa: a 13.49% purchase APR and no annual fee, filed by Dow Credit Union. Against the 4,587 filings on this site, that rate lands around the 11th percentile.

On the face of the filing

Dow Credit Union filed this agreement for Rewards Visa with the Consumer Financial Protection Bureau. It is issued on the Visa network and the filing runs seven pages.

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

Pricing the purchase rate

At 13.49%, the purchase APR falls at roughly the 11th percentile of the 2,280 filings indexed here, which sits well down in the cheaper fifth of the set.

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 the rate means in dollars

The purchase rate turns a $2,000 revolving balance into roughly $289 of annual interest.

Measured against the 21.99% corpus median, the same $2,000 costs approximately $203 less per year here.

Per statement cycle that is on the order of $22.29 on $2,000, 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.

Grace period and minimum charge

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.

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

Default pricing

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

The fee structure

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.

The issuer's other agreements

This is one of 3 Dow Credit Union agreements collected here. The issuer's own range is 10.49%–12.49%. At 13.49%, this agreement is dearer than 2 of its siblings.

The limits of this document

The disclosure parsed here does not state anything about cash advances, balance transfer terms, 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.

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.

Go to the source

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

In short

13.49% places this filing at the inexpensive end of the set, which is the headline here. The absence of an annual fee means the rate is the only thing that can make this card expensive.