Visa with Rewards Rates, Fees, and Terms

Visa with Rewards Rates, Fees, and Terms, as filed by Provident Credit Union, carries a purchase APR of 9.9%–14.9%, a 14.9% introductory rate and a 18% penalty rate. That purchase rate ranks near the 14th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

The document behind this page is Provident Credit Union's filed agreement for Visa with Rewards Rates, Fees, and Terms. It is issued on the Visa network and the filing runs one page.

Terms captured from the document include a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and a grace period. No figure appears for an annual fee line, a late payment maximum and a foreign transaction fee.

The promotional period

The filing discloses an introductory rate of 14.9% but no term for it.

Among the 763 filings here that disclose an introductory rate, 14.9% sits at about the 94th percentile.

Behind the promotion sits a 14.9% purchase rate. On $2,500 that is in the region of $402 a year once the window closes.

The purchase rate in context

The purchase APR is quoted as a range of 9.9% to 14.9%. That 5-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Read against the index, the low end ranks around the 10th percentile and the high end around the 14th — the band straddles a wide stretch of the market this corpus describes.

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.

What a balance actually costs

Put $3,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $482.

Measured against the 21.99% corpus median, the same $3,000 costs approximately $256 less per year here.

Broken down to a single thirty-day cycle, the same balance accrues roughly $36.96.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

Charges beyond interest

Taking cash against the card means a cash advance APR of 13.9%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

The filing discloses a 11.9% balance transfer rate without an accompanying fee figure.

What a missed payment costs

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

The jump from 14.9% to 18% is 3.1 percentage points, worth roughly $110 extra per year on $3,000 of balance.

The no-interest path

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

How it sits in the issuer's own range

There are 9 filings from Provident Credit Union in this index. Their disclosed purchase rates run from 13.9% to 14.9%, and this one at 14.9% is more expensive than 1 of them.

What the filing does not tell you

This page cannot tell you an annual fee and a foreign transaction fee, because the filing's disclosure table as read does not contain them.

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.

Where the authority sits

Everything here is a reading of the filed agreement, one page of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

The purchase rate of 14.9% is one of the cheaper figures in this index — the central point in the agreement's favour.