Visa Platinum Agreement and Pricing Addendum

Visa Platinum Agreement and Pricing Addendum, as filed by Farmers Insurance Federal Credit Union, carries a purchase APR of 10.99%–18% and no annual fee. That purchase rate ranks near the 34th percentile across this corpus of 4,587 filings.

The disclosed terms

What follows is drawn entirely from Farmers Insurance Federal Credit Union's CFPB filing for Visa Platinum Agreement and Pricing Addendum. 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, an annual fee line and a late payment maximum. No figure appears for a penalty rate.

Where the purchase APR sits

The purchase APR is quoted as a range of 10.99% to 18%. That 7.01-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Read against the index, the low end ranks around the 14th percentile and the high end around the 34th — the band straddles a wide stretch of the market this corpus describes.

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.

What a balance actually costs

The purchase rate turns a $2,000 revolving balance into roughly $394 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $97 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.

Where the fees are

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.

For cash advances the filing discloses a cash advance APR of 10.99%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 10.99%; no separate transfer fee was captured from the filing.

The filing sets a 1% foreign transaction fee, which adds roughly $15 to $1,500 spent outside the United States.

When a payment is late

$30 is the disclosed ceiling on a late payment fee, placing it near the 49th percentile of the set.

Grace period and minimum charge

The filing gives 21 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. The typical filing here allows 25 days, so this one is tighter than most.

What the filing does not tell you

This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Against the rest of Farmers Insurance Federal Credit Union's filings

4 separate Farmers Insurance Federal Credit Union filings appear in the corpus. Pricing across this issuer's filings is uniform at 18% — the rate table does not distinguish one of its cards from another.

1 of the issuer's other 2 disclosing filings are likewise fee-free.

The document itself

This summary stands or falls on the linked PDF — two pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

At 18% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.