Visa Credit Card Agreement

On the record for Visa Credit Card Agreement: a 9.99% purchase APR and a $30 annual fee, filed by Merchants Bank. The purchase rate sits at roughly the 5th percentile of the 4,587 agreements indexed here.

What the document actually states

Merchants Bank submitted the terms for Visa Credit Card Agreement to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs two pages.

The disclosure covers a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a foreign transaction fee. A balance transfer rate, a penalty rate and a grace period are not stated.

The purchase APR against the corpus

Measured against every other filing on the site, 9.99% is about the 5th percentile for purchase APR; it sits well down in the cheaper fifth of the set.

What the rate means in dollars

The purchase rate turns a $1,000 revolving balance into roughly $105 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $1,000 would cost about $246 a year. This filing saves roughly $141 annually against that benchmark.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

The no-interest path

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

The downside terms

On the fee side, a late payment can cost up to $7.80, which is around the 4th percentile here.

What the card costs before you borrow

$30 a year is the disclosed annual fee, which ranks near the 80th percentile of the fees filed across this corpus.

For scale, $30 is approximately what $300 of revolving balance would cost in interest over twelve months at this card's 9.99% rate.

A first-year waiver applies according to the document — the $30 begins biting in year two.

Taking cash against the card means a cash advance fee of $3 and a cash advance APR of 14.99%. That is 5 points above the purchase rate.

Foreign transactions attract 1%. On $2,000 of overseas spending that is $20, charged on top of whatever exchange rate applies.

What you cannot learn from the filing

This page cannot tell you a grace period and penalty pricing, because the filing's disclosure table as read does not contain them.

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.

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

9.99% places this filing at the inexpensive end of the set, which is the headline here. Note that the $30 annual fee falls due whether the card is used or not.