Before you read the numbers.
This document covers more than one card product in a single disclosure table. Figures shown may belong to a sibling product rather than to this one. Check the filing before relying on any individual number.
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.
| Purchase APR | 9.75%–18% (variable) |
|---|---|
| Balance transfer APR | 9.75% |
| Cash advance APR | 9.75% |
| Penalty APR | 18% |
| Annual fee | $0 |
| Late payment fee | up to $28 |
| Foreign transaction fee | None |
| Cash advance fee | $8.00 or 3.00% of the amount of each |
| Balance transfer fee | None |
| Grace period | 25 days |
| Minimum interest charge | $0 |
| Network | Visa |
Analysis
The Meritrust VISA Application Disclosure and Agreement 10 21 2022 filing from Meritrust Federal Credit Union sets out a purchase APR of 9.75%–18%, no annual fee and a 18% penalty rate. Against the 4,587 filings on this site, that rate lands around the 34th percentile.
The disclosed terms
Meritrust VISA Application Disclosure and Agreement 10 21 2022 is one of the agreements Meritrust Federal Credit Union has on file with the CFPB. It is issued on the Visa network and the filing runs eight pages.
The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line.
This document discloses several products inside a single rate table. That means the numbers below are the ones the table contains, not necessarily the ones attached to this particular card — the filing itself is the only way to tell them apart.
Where the purchase APR sits
The purchase APR is quoted as a range of 9.75% to 18%. That 8.25-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.
The floor of that band sits at about the 9th percentile of filed purchase rates; the ceiling sits at about the 34th. In corpus terms the same card can be cheap or expensive depending on how it is priced.
Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.
The cost of carrying a balance
At the disclosed purchase APR, $5,000 revolving for a full year costs something like $986 in interest.
A typical filing in this index would charge about $1,229 on that balance; this one is roughly $244 a year below it.
Per statement cycle that is on the order of $74.50 on $5,000, which is the number that actually shows up on a bill.
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.
No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.
What a missed payment costs
A penalty APR of 18% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 19th percentile.
The maximum late fee is $28 — roughly the 46th percentile of the late fee ceilings disclosed across this index.
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.
For cash advances the filing discloses a cash advance fee of $8 or 3% of the advance, whichever is greater and a cash advance APR of 9.75%. The two halves of that fee cross at about $267: below it the flat $8 applies, above it the percentage does.
Transferred balances are priced at 9.75%; no separate transfer fee was captured from the filing.
No foreign transaction fee is charged, which puts this filing in the roughly 22% of disclosing agreements here that do not take a cut of overseas spending.
What you cannot learn from the filing
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.
Where the authority sits
This summary stands or falls on the linked PDF — eight pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.
In short
18% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing. And because the filing covers several products in one table, even the figures that are right may belong to a different card.
The source document
This page is a reading of one document: the cardholder agreement Meritrust Federal 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 Meritrust Federal Credit Union, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Meritrust Federal Credit Union
This is the only agreement from Meritrust Federal Credit Union in the database with enough disclosed terms to publish. See the issuer's full filing list.
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.