VISA Member Select Share Secured Rewards Credit Card Agreement Kansas

The VISA Member Select Share Secured Rewards Credit Card Agreement Kansas filing from Meritrust Credit Union sets out a purchase APR of 9.75%–18%, no annual fee and a 18% penalty rate. The purchase rate sits at roughly the 34th percentile of the 4,587 agreements indexed here.

On the face of the filing

VISA Member Select Share Secured Rewards Credit Card Agreement Kansas is one of the agreements Meritrust Credit Union has on file with the CFPB. It is issued on the Visa network and the filing runs seven pages.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line.

A secured agreement

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.

It is worth noting that collateral does not automatically mean a cheap rate: at 18%, this filing's purchase APR still sits at about the 34th percentile of the whole corpus, secured and unsecured filings alike.

Where the purchase APR sits

Rather than a single purchase rate, the document gives a band — 9.75% at the bottom, 18% at the top, 8.25 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Those two numbers occupy very different places in the corpus: roughly the 9th percentile at the bottom and the 34th at the top.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

What a balance actually costs

The purchase rate turns a $2,000 revolving balance into roughly $394 of annual interest.

Priced at the median of 21.99%, that balance would generate about $492 in a year — so this agreement comes in around $97 cheaper for the same debt.

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.

Grace period and minimum charge

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That matches the 25-day median across the corpus almost exactly.

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

The downside terms

The agreement discloses penalty pricing of 18% — about the 19th percentile of the 794 penalty rates recorded across this index.

The maximum late fee is $25 — roughly the 32nd percentile of the late fee ceilings disclosed across this index.

Charges beyond interest

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

Cash advances carry a cash advance fee of $8 or 3% of the advance, whichever is greater and a cash advance APR of 9.75%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 9.75%; no separate transfer fee was captured from the filing.

The foreign transaction fee is zero — a minority position in this corpus, where roughly 22% of disclosing filings waive it.

What you cannot learn from the filing

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

The original filing, 7 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

The pricing here is middling by the standards of the index — 18% on purchases is near enough to typical.