RR 1 11 75 VISA Business ACCT Disclosures ELGACU

RR 1 11 75 VISA Business ACCT Disclosures ELGACU 01 01 26, as filed by Elga Credit Union, carries a 11.75% purchase APR and no annual fee. That purchase rate ranks near the 7th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

Elga Credit Union submitted the terms for RR 1 11 75 VISA Business ACCT Disclosures ELGACU 01 01 26 to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs one page.

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

The purchase rate in context

The purchase APR of 11.75% places this agreement around the 7th percentile of the set — it falls in the low band of the corpus.

The cost of carrying a balance

Put $3,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $374.

Measured against the 21.99% corpus median, the same $3,000 costs approximately $364 less per year here.

Broken down to a single thirty-day cycle, the same balance accrues roughly $29.11.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

The grace period

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

When a payment is late

The maximum late fee is $25 — roughly the 32nd percentile of the late fee ceilings disclosed across this index.

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.

Spending abroad costs an extra 2% — about $30 on $1,500 of purchases, independent of interest.

The issuer's other agreements

30 separate Elga Credit Union filings appear in the corpus. Across that lineup purchase rates span 11.75% to 20.75%; this filing's 11.75% sits above 0 of the comparable ones.

What is outside the disclosure

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

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.

The document itself

The filed PDF is linked from this page and runs one page. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

11.75% 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.