Low Rate Visa Credit Card Agreement and Disclosure

F & a Federal Credit Union's filed agreement for Low Rate Visa Credit Card Agreement and Disclosure discloses a 6.9% purchase APR and no annual fee. Against the 4,587 filings on this site, that rate lands around the 2nd percentile.

The disclosed terms

F & a Federal Credit Union submitted the terms for Low Rate Visa Credit Card Agreement and Disclosure to the CFPB's agreement database; this is what they contain. The filing runs 15 pages, and It is issued on the Visa network.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. No figure appears for a penalty rate.

Where the purchase APR sits

6.9% puts the purchase APR near the 2nd percentile across 2,280 agreements, so it sits in the bottom few percent of everything filed.

The cost of carrying a balance

At the disclosed purchase APR, $1,000 revolving for a full year costs something like $71 in interest.

A typical filing in this index would charge about $246 on that balance; this one is roughly $174 a year below it.

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

21 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. With a corpus median of 25 days, this window is narrower than the norm.

Penalty pricing and late fees

On the fee side, a late payment can cost up to $20, which is around the 17th percentile here.

Where the fees are

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

Taking cash against the card means a cash advance APR of 6.9%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

The filing discloses a 6.9% balance transfer rate without an accompanying fee figure.

Foreign transactions attract 1%. On $1,000 of overseas spending that is $10, charged on top of whatever exchange rate applies.

Against the rest of F & a Federal Credit Union's filings

There are 3 filings from F & a Federal Credit Union in this index. Their disclosed purchase rates run from 8.9% to 9.9%, and this one at 6.9% is more expensive than 0 of them.

What you cannot learn from the filing

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.

Where the authority sits

Everything here is a reading of the filed agreement, 15 pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

6.9% places this filing at the inexpensive end of the set, which is the headline here. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.