Before you read the numbers.
The filing discloses a promotional rate alongside the ongoing rate. The figure shown here is the go-to rate that applies once the promotional period ends, because that is the rate that governs for the life of the account.
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 | 7.9%–11.9% |
|---|---|
| Introductory APR | 1.99% |
| Late payment fee | up to $15 |
| Foreign transaction fee | 1% |
| Grace period | 25 days |
| Minimum interest charge | $20 |
| Network | Visa |
Analysis
Visa Summit & Visa Rewards Credit Card Rates, as filed by On Tap Credit Union, carries a purchase APR of 7.9%–11.9% and a 1.99% introductory rate. The purchase rate sits at roughly the 8th percentile of the 4,587 agreements indexed here.
What this filing discloses
This page covers the agreement On Tap Credit Union filed for Visa Summit & Visa Rewards Credit Card Rates. The filing runs four pages, and It is issued on the Visa network.
The disclosure covers a purchase rate, a late payment maximum, a foreign transaction fee and a grace period. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.
The filing bundles multiple products into one disclosure table. Any figure quoted here may describe a related card in the same filing, so the PDF should be read before treating these numbers as this card's own.
What the promotional rate is worth
An introductory rate of 1.99% appears without a disclosed duration.
Among the 763 filings here that disclose an introductory rate, 1.99% sits at about the 66th percentile.
Once the introductory period ends the rate becomes 11.9%, which turns a lingering $3,000 balance into approximately $379 of annual interest.
How the purchase rate compares
Purchases price between 7.9% and 11.9% under this filing. The 4-point gap between the two is material, and nothing in the agreement indicates where a given account would land.
The floor of that band sits at about the 4th percentile of filed purchase rates; the ceiling sits at about the 8th. In corpus terms the same card can be cheap or expensive depending on how it is priced.
To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.
Translating the rate into money
At the disclosed purchase APR, $5,000 revolving for a full year costs something like $632 in interest.
A typical filing in this index would charge about $1,229 on that balance; this one is roughly $598 a year below it.
Per statement cycle that is on the order of $49.14 on $5,000, 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.
Default pricing
$15 is the disclosed ceiling on a late payment fee, placing it near the 11th percentile of the set.
What the card costs before you borrow
Foreign transactions attract 1%. On $3,000 of overseas spending that is $30, charged on top of whatever exchange rate applies.
The no-interest path
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 $20 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.
The limits of this document
The disclosure parsed here does not state anything about cash advances, balance transfer terms, an annual fee and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.
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.
The document itself
This summary stands or falls on the linked PDF — four pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.
In short
11.9% places this filing at the inexpensive end of the set, which is the headline here. 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 On Tap 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 On Tap Credit Union, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from On Tap Credit Union
This is the only agreement from On Tap 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.