Visa Application and Solicitation Disclosure

Visa Application and Solicitation Disclosure, as filed by Operating Engineers Local Union #3 Federal Credit Union, carries a purchase APR of 8.98%–17.98%, a six-month 0% opening period and a 17.99% penalty rate. Against the 4,587 filings on this site, that rate lands around the 25th percentile.

On the face of the filing

Visa Application and Solicitation Disclosure is one of the agreements Operating Engineers Local Union #3 Federal Credit Union has on file with the CFPB. The filing runs four pages, and It is issued on the Visa network.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and a late payment maximum. An annual fee line is not stated.

One important caveat sits on top of everything else here: the rate table in this filing covers more than one product. Figures shown on this page may belong to a sibling card in the same table rather than to this one, and only the PDF can settle which row applies.

The interest-free window

A six-month promotional period at 0% is on the record here — during it, qualifying balances cost nothing to carry.

Roughly 458 of the 4,587 filings indexed here disclose a zero-percent introductory rate, so this is a real feature of the document but not a rare one.

The go-to rate is 17.98%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $394 a year on $2,000.

The promotional window is therefore worth something on the order of $197 on $2,000, measured against the same balance priced at the standard rate for the same period.

How the purchase rate compares

Purchases price between 8.98% and 17.98% under this filing. The 9-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

Read against the index, the low end ranks around the 7th percentile and the high end around the 25th — the band straddles a wide stretch of the market this corpus describes.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

This figure is the post-promotional rate. The introductory pricing is handled separately further down.

What the rate means in dollars

A $2,500 balance left untouched for twelve months accrues about $492 in interest at this purchase rate.

Priced at the median of 21.99%, that balance would generate about $615 in a year — so this agreement comes in around $122 cheaper for the same debt.

Note the $0.01 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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.

Fees, and what triggers them

For cash advances the filing discloses a cash advance APR of 8.98%.

Transferred balances are priced at 8.98%; no separate transfer fee was captured from the filing.

Foreign transactions attract 1%. On $3,000 of overseas spending that is $30, charged on top of whatever exchange rate applies.

What a missed payment costs

The agreement discloses penalty pricing of 17.99% — about the 12th percentile of the 794 penalty rates recorded across this index.

$20 is the disclosed ceiling on a late payment fee, placing it near the 17th percentile of the set.

The grace period

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

The $0.01 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

What is outside the disclosure

This page cannot tell you an annual fee, because the filing's disclosure table as read does not contain it.

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.

Go to the source

The filed PDF is linked from this page and runs four pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

At 17.98% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. And because the filing covers several products in one table, even the figures that are right may belong to a different card.