Before you read the numbers.
The filing discloses a promotional rate alongside the ongoing rate. The figure shown here is the go-to rate that applies once the promotional period ends, because that is the rate that governs for the life of the account.
Disclosed rates and fees
Every figure below was read from this issuer's filed agreement. Anything the filing does not state is left out of this table rather than shown as zero.
| Purchase APR | 1.9%–5.9% (variable) |
|---|---|
| Introductory APR | 5.9% for 12 months |
| Balance transfer APR | 1.9% |
| Cash advance APR | 1.9% |
| Annual fee | $0 |
| Late payment fee | up to $25 |
| Foreign transaction fee | 1% |
| Cash advance fee | $10.00 or 3.00% of the amount of each |
| Balance transfer fee | None |
| Grace period | 25 days |
| Minimum interest charge | $1 |
| Network | Visa |
Analysis
On the record for 2023 03 01 Visa Application and Solicitation Disclosure: a purchase APR of 1.9%–5.9%, no annual fee and a 5.9% introductory rate, filed by Firstlight Federal Credit Union. That purchase rate ranks near the 2nd percentile across this corpus of 4,587 filings.
The disclosed terms
What follows is drawn entirely from Firstlight Federal Credit Union's CFPB filing for 2023 03 01 Visa Application and Solicitation Disclosure. It is issued on the Visa network and the filing runs three pages.
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. It is silent on a penalty rate.
The promotional period
The introductory rate is 5.9%, held for 12 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, 5.9% sits at about the 88th percentile.
What matters more than the promotion is the rate waiting behind it: 5.9%. A $5,000 balance that survives the promotional window costs roughly $304 a year from that point on.
Pricing the purchase rate
Purchases price between 1.9% and 5.9% under this filing. The 4-point gap between the two is material, and nothing in the agreement indicates where a given account would land.
Read against the index, the low end ranks around the 1st percentile and the high end around the 2nd — the band straddles a wide stretch of the market this corpus describes.
The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.
This figure is the post-promotional rate. The introductory pricing is handled separately further down.
Translating the rate into money
Put $2,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $122.
Measured against the 21.99% corpus median, the same $2,000 costs approximately $370 less per year here.
Month to month it reads as about $9.72 per cycle on that balance.
Note the $1 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls 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.
Charges beyond interest
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.
Taking cash against the card means a cash advance fee of $10 or 3% of the advance, whichever is greater and a cash advance APR of 1.9%. Advances under roughly $333 are charged the flat $10; larger ones are charged 3%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.
The filing discloses a 1.9% 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.
When a payment is late
On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.
Grace period and minimum charge
The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.
Where interest applies at all, the filing bills at least $1. On a tiny balance that floor can dwarf the rate itself.
What is outside the disclosure
This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.
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.
The issuer's other agreements
There are 3 filings from Firstlight Federal Credit Union in this index.
The document itself
The original filing, 3 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.
In short
At 5.9% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost.
The source document
This page is a reading of one document: the cardholder agreement Firstlight Federal Credit Union filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.
Applications are handled by Firstlight Federal Credit Union, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Firstlight Federal Credit Union
This is the only agreement from Firstlight Federal Credit Union in the database with enough disclosed terms to publish. See the issuer's full filing list.
Where this card sits
Groups this agreement qualifies for, by its own disclosed terms:
Comparable cards from other issuers
Closest disclosed purchase APR among cards in the same groups.