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.
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 | 18.24% (variable) |
|---|---|
| Introductory APR | 0% |
| Cash advance APR | 19.99% |
| Penalty APR | 21.99% |
| Annual fee | $0 |
| Late payment fee | up to $10 |
| Foreign transaction fee | 1% |
| Grace period | 21 days |
| Minimum interest charge | $0 |
| Network | Visa |
Analysis
Southland Credit Union's filed agreement for Visa Credit Card Disclosures discloses a 18.24% purchase APR, no annual fee, a 0% opening rate and a 21.99% penalty rate. Against the 4,587 filings on this site, that rate lands around the 38th percentile.
What the agreement puts on the record
Southland Credit Union submitted the terms for Visa Credit Card Disclosures to the CFPB's agreement database; this is what they contain. The filing runs one page, and It is issued on the Visa network.
On the record here: a purchase rate, a cash advance rate, a penalty rate, an annual fee line and a late payment maximum. It is silent on a balance transfer rate.
What the promotional rate is worth
A 0% promotional rate appears in the document without an accompanying term — the length of the window is not captured.
Zero-percent openings appear in roughly 458 of the filings on this site, which puts this agreement in a sizeable minority rather than a class of its own.
Behind the promotion sits a 18.24% purchase rate. On $3,000 that is in the region of $600 a year once the window closes.
Where the purchase APR sits
Measured against every other filing on the site, 18.24% is about the 38th percentile for purchase APR; it sits below the middle of the distribution.
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.
The rate discussed in this section is the go-to rate — the one that applies once the promotional period described below has ended, not the promotional rate itself.
The arithmetic of revolving
A $5,000 balance left untouched for twelve months accrues about $1,000 in interest at this purchase rate.
A typical filing in this index would charge about $1,229 on that balance; this one is roughly $229 a year below it.
Per statement cycle that is on the order of $75.50 on $5,000, which is the number that actually shows up on a bill.
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.
When a payment is late
A penalty APR of 21.99% 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 32nd percentile.
Measured in money, moving from 18.24% to 21.99% costs an extra $92 or so annually on $2,000 — a far larger number than any single late fee.
$10 is the disclosed ceiling on a late payment fee, placing it near the 6th percentile of the set.
What the card costs before you borrow
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 APR of 19.99%. Cash is therefore 1.75 points dearer than buying something with the card. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.
Spending abroad costs an extra 1% — about $50 on $5,000 of purchases, independent of interest.
Paying in full
21 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. The typical filing here allows 25 days, so this one is tighter than most.
No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.
The limits of this document
This page cannot tell you balance transfer terms, because the filing's disclosure table as read does not contain it.
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.
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
At 18.24% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.
The source document
This page is a reading of one document: the cardholder agreement Southland 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 Southland Credit Union, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Southland Credit Union
This is the only agreement from Southland 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.