Visa Platinum Shared Secured Credit Card Disclosure

Visa Platinum Shared Secured Credit Card Disclosure, as filed by Members First Credit Union Dba Members First Investment Services, carries a 7.75% purchase APR. The purchase rate sits at roughly the 3rd percentile of the 4,587 agreements indexed here.

What this filing discloses

This page covers the agreement Members First Credit Union Dba Members First Investment Services filed for Visa Platinum Shared Secured Credit Card Disclosure. It is issued on the Visa network and the filing runs two pages.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, a late payment maximum and a foreign transaction fee. No figure appears for a penalty rate and an annual fee line.

What "secured" changes

This is a secured agreement — the credit line is collateralised by a deposit. The disclosure table captured on this page covers pricing only; the mechanics of the deposit live in the body of the document.

For context, the 7.75% purchase rate lands around the 3rd percentile of all the agreements on this site, which is the useful comparison regardless of the deposit.

Pricing the purchase rate

The purchase APR of 7.75% places this agreement around the 3rd percentile of the set — it is lower than almost every other agreement here.

The arithmetic of revolving

Put $2,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $161.

Measured against the 21.99% corpus median, the same $2,000 costs approximately $331 less per year here.

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.

Charges beyond interest

Cash advances carry a cash advance APR of 7.75%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 7.75%; no separate transfer fee was captured from the filing.

Spending abroad costs an extra 1% — about $15 on $1,500 of purchases, independent of interest.

When a payment is late

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

Grace period and minimum charge

21 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That is shorter than the 25-day corpus median.

Against the rest of Members First Credit Union Dba Members First Investment Services's filings

Members First Credit Union Dba Members First Investment Services has 6 agreements indexed on this site. Across that lineup purchase rates span 9.59% to 10.9%; this filing's 7.75% sits above 0 of the comparable ones.

What you cannot learn from the filing

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

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.

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 7.75% is one of the cheaper figures in this index — the central point in the agreement's favour.