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.
| Annual fee | $0 |
|---|---|
| Late payment fee | up to $25 |
| Foreign transaction fee | 2% |
| Cash advance fee | $10.00 or 2.00% of the amount of each |
| Balance transfer fee | None |
| Grace period | 25 days |
| Network | Visa |
Analysis
The Credit Card Opening Disclosure Visa CashRewards filing from Magnifi Financial Credit Union sets out no annual fee.
On the face of the filing
The document behind this page is Magnifi Financial Credit Union's filed agreement for Credit Card Opening Disclosure Visa CashRewards. It is issued on the Visa network and the filing runs two pages.
Terms captured from the document include an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. It is silent on a purchase rate, a cash advance rate and a balance transfer rate.
Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.
The fee structure
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 2% of the advance, whichever is greater. Advances under roughly $500 are charged the flat $10; larger ones are charged 2%.
Foreign transactions attract 2%. On $1,500 of overseas spending that is $30, charged on top of whatever exchange rate applies.
The downside terms
On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.
Grace period and minimum charge
Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.
What the filing does not tell you
This page cannot tell you a purchase rate and penalty pricing, because the filing's disclosure table as read does not contain them.
An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.
The issuer's other agreements
This is one of 3 Magnifi Financial Credit Union agreements collected here.
Go to the source
The original filing, 2 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
Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.
The source document
This page is a reading of one document: the cardholder agreement Magnifi Financial 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 Magnifi Financial Credit Union, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Magnifi Financial Credit Union
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Credit Card Account Opening Disclosure Platinum
Agreement filed with the CFPB
- Annual fee
- $0
- Foreign tx fee
- 2%
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.