VISA Credit Card Disclosure Jan 1

On the record for VISA Credit Card Disclosure Jan 1 2026: a purchase APR of 12.75%–20.5% and no annual fee, filed by Michigan Schools and Government Credit Union. The purchase rate sits at roughly the 44th percentile of the 4,587 agreements indexed here.

What this filing discloses

What follows is drawn entirely from Michigan Schools and Government Credit Union's CFPB filing for VISA Credit Card Disclosure Jan 1 2026. 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, an annual fee line and a late payment maximum. No figure appears for a penalty rate.

The purchase APR against the corpus

Rather than a single purchase rate, the document gives a band — 12.75% at the bottom, 20.5% at the top, 7.75 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Read against the index, the low end ranks around the 22nd percentile and the high end around the 44th — the band straddles a wide stretch of the market this corpus describes.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

Translating the rate into money

The purchase rate turns a $3,000 revolving balance into roughly $682 of annual interest.

Measured against the 21.99% corpus median, the same $3,000 costs approximately $55 less per year here.

Per statement cycle that is on the order of $50.96 on $3,000, which is the number that actually shows up on a bill.

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

The downside terms

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

Charges beyond interest

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

Taking cash against the card means a cash advance APR of 9.75%. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

The filing discloses a 9.75% balance transfer rate without an accompanying fee figure.

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

The grace period

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.

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

The issuer's other agreements

This is one of 4 Michigan Schools and Government Credit Union agreements collected here. The issuer's own range is 21.25%–22.25%. At 20.5%, this agreement is dearer than 0 of its siblings.

What the filing does not tell you

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

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.

The document itself

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 — 20.5% on purchases is near enough to typical. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.