Cash Back Visa Credit Card Agreement and Disclosure 16 24%

Landmark Credit Union's filed agreement for Cash Back Visa Credit Card Agreement and Disclosure 16 24% discloses a 0% purchase APR, no annual fee, a 19.24% introductory rate and a 29.99% penalty rate. Against the 4,587 filings on this site, that rate lands around the 1st percentile.

What the agreement puts on the record

What follows is drawn entirely from Landmark Credit Union's CFPB filing for Cash Back Visa Credit Card Agreement and Disclosure 16 24%. 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 penalty rate, an annual fee line and a grace period. It is silent on a balance transfer rate, a late payment maximum and a foreign transaction fee.

Introductory pricing

The filing discloses an introductory rate of 19.24% but no term for it.

Among the 763 filings here that disclose an introductory rate, 19.24% sits at about the 98th percentile.

What matters more than the promotion is the rate waiting behind it: 0%. A $3,000 balance that survives the promotional window costs roughly $0 a year from that point on.

Where the purchase APR sits

Ranked against the corpus, this purchase APR — 0% — sits at approximately the 1st percentile and is among the very cheapest figures in the whole set.

The arithmetic of revolving

At the disclosed purchase APR, $2,000 revolving for a full year costs something like $0 in interest.

Priced at the median of 21.99%, that balance would generate about $492 in a year — so this agreement comes in around $492 cheaper for the same debt.

Per statement cycle that is on the order of $0 on $2,000, which is the number that actually shows up on a bill.

There is also a floor: the filing sets a minimum interest charge of $1, so any cycle that accrues less than that is billed at $1 anyway.

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.

What the card costs before you borrow

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.

Cash advances carry a cash advance APR of 19.24%. Cash is therefore 19.24 points dearer than buying something with the card. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

What a missed payment costs

A penalty APR of 29.99% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 61st percentile.

A default therefore reprices the debt by 29.99 points: about $699 a year more on $2,000, for as long as the penalty rate stands.

The no-interest path

Purchases carry a 27-day grace period: pay the statement in full inside it and the purchase rate never applies. Against a corpus median of 25 days, this is a wider window than usual.

Where interest applies at all, the filing bills at least $1. On a tiny balance that floor can dwarf the rate itself.

What you cannot learn from the filing

This page cannot tell you balance transfer terms and a foreign transaction fee, because the filing's disclosure table as read does not contain them.

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.

How it sits in the issuer's own range

This is one of 22 Landmark Credit Union agreements collected here. Their disclosed purchase rates run from 0% to 23.99%, and this one at 0% is more expensive than 0 of them.

8 of the issuer's other 10 disclosing filings are likewise fee-free.

Go to the source

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

The purchase rate of 0% is one of the cheaper figures in this index — the central point in the agreement's favour. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.