Agreements as filed with the CFPB. Not an offer of credit. How we read them
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Meritrust Credit Union

Credit Line Account Agreement and Federal Disclosure Statement Colorado

What this agreement does and does not disclose, and why that gap matters when you are comparing what a card costs.

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.

Terms as disclosed in the filed agreement for Credit Line Account Agreement and Federal Disclosure Statement Colorado
Penalty APR21%
Late payment feeup to $25
Foreign transaction fee1%
Cash advance fee2.50% of the amount of each transfer or $5.00, whichever is greater 
Balance transfer fee2.50% of the amount of each transfer or $5.00, whichever is greater 
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Analysis

Credit Line Account Agreement and Federal Disclosure Statement Colorado, as filed by Meritrust Credit Union, carries a 21% penalty rate.

What this filing discloses

This page covers the agreement Meritrust Credit Union filed for Credit Line Account Agreement and Federal Disclosure Statement Colorado. It is issued on the Visa network and the filing runs five pages.

The filing is explicit about a penalty rate, a late payment maximum and a foreign transaction fee. A purchase rate, a cash advance rate and a balance transfer rate are not stated.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

Charges beyond interest

For cash advances the filing discloses a cash advance fee of $5 or 2.5% of the advance, whichever is greater.

A balance transfer costs $5 or 2.5% of the amount transferred, whichever is greater up front. The filing does not separately state the rate applied to transferred balances. On $3,000 that fee is about $75 before any interest is charged.

Spending abroad costs an extra 1% — about $30 on $3,000 of purchases, independent of interest.

When a payment is late

If the account defaults, the filing permits a rate of 21%. Among disclosing agreements here that ranks near the 29th percentile.

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.

What you cannot learn from the filing

Absent from the captured terms: a purchase rate, an annual fee and a grace period. The original document is the place to look for any of these.

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.

Go to the source

Everything here is a reading of the filed agreement, five pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

Given the parsing confidence on this filing, read the agreement itself before treating any of these figures as settled.

The source document

This page is a reading of one document: the cardholder agreement Meritrust Credit Union filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.

Open the filed agreement (PDF)

Applications are handled by Meritrust Credit Union, not by us. We do not take applications and cannot say whether you would be approved.

Go to Meritrust Credit Union

Other cards from Meritrust Credit Union

All 2 agreements from Meritrust Credit Union

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.