Visa and MasterCard Disclosures

On the record for Visa and MasterCard Disclosures: a 15.48% purchase APR and no annual fee, filed by Fowler State Bank. Against the 4,587 filings on this site, that rate lands around the 16th percentile.

What the agreement puts on the record

What follows is drawn entirely from Fowler State Bank's CFPB filing for Visa and MasterCard Disclosures. The filing runs two pages.

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.

Pricing the purchase rate

Ranked against the corpus, this purchase APR — 15.48% — sits at approximately the 16th percentile and sits well down in the cheaper fifth of the set.

This filing states a fixed purchase rate, which sets it apart from the variable pricing that dominates the rest of the index.

What a balance actually costs

Put $1,200 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $201.

A typical filing in this index would charge about $295 on that balance; this one is roughly $94 a year below it.

Broken down to a single thirty-day cycle, the same balance accrues roughly $15.36.

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.

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 fee of $10 or 2% of the advance, whichever is greater. The two halves of that fee cross at about $500: below it the flat $10 applies, above it the percentage does.

The filing sets a 1% foreign transaction fee, which adds roughly $50 to $5,000 spent outside the United States.

The downside terms

On the fee side, a late payment can cost up to $18, which is around the 14th percentile here.

Grace period and minimum charge

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.

The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.

What is outside the disclosure

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

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.

Go to the source

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

The purchase rate of 15.48% is one of the cheaper figures in this index — the central point in the agreement's favour. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.