Visa App Solicitation

Visa App Solicitation, as filed by First Florida Credit Union, carries a purchase APR of 13.25%–16.75%, no annual fee and a 1.9% introductory rate. The purchase rate sits at roughly the 19th percentile of the 4,587 agreements indexed here.

What this filing discloses

First Florida Credit Union submitted the terms for Visa App Solicitation to the CFPB's agreement database; this is what they contain. The filing runs two pages, and It is issued on the Visa network.

The filing is explicit about 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.

What the promotional rate is worth

The introductory rate is 1.9%, held for six months. It is a discount rather than a holiday — interest still accrues, just more slowly than the go-to rate.

Among the 763 filings here that disclose an introductory rate, 1.9% sits at about the 62nd percentile.

The go-to rate is 16.75%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $365 a year on $2,000.

Pricing the purchase rate

This is a tiered agreement: the filing discloses a purchase APR anywhere from 13.25% to 16.75%, a spread of 3.5 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

The floor of that band sits at about the 24th percentile of filed purchase rates; the ceiling sits at about the 19th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

Translating the rate into money

At the disclosed purchase APR, $1,000 revolving for a full year costs something like $182 in interest.

Priced at the median of 21.99%, that balance would generate about $246 in a year — so this agreement comes in around $64 cheaper for the same debt.

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

What a missed payment costs

Late payments are capped at $10 under this filing, about the 6th percentile of late fee maximums in the corpus.

Charges beyond interest

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 fee of $2 and a cash advance APR of 13.25%.

The filing discloses a 13.25% balance transfer rate without an accompanying fee figure.

Foreign transactions attract 1%. On $3,000 of overseas spending that is $30, charged on top of whatever exchange rate applies.

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

What is outside the disclosure

The disclosure parsed here does not state 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.

Where the authority sits

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

In short

16.75% 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.