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 | 14.4%–23.4% (variable) |
|---|---|
| Balance transfer APR | 14.4% |
| Cash advance APR | 14.4% |
| Annual fee | $0 |
| Late payment fee | up to $25 |
| Foreign transaction fee | 1% |
| Grace period | 21 days |
| Minimum interest charge | $0 |
| Network | Mastercard |
Analysis
The 1001666 Credit Card Application TIL Disclosure filing from Verve a Credit Union sets out a purchase APR of 14.4%–23.4% and no annual fee. Against the 4,587 filings on this site, that rate lands around the 55th percentile.
What this filing discloses
Verve a Credit Union submitted the terms for 1001666 Credit Card Application TIL Disclosure to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs two pages.
Terms captured from the document include a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. A penalty rate is not stated.
Pricing the purchase rate
Purchases price between 14.4% and 23.4% under this filing. The 9-point gap between the two is material, and nothing in the agreement indicates where a given account would land.
Those two numbers occupy very different places in the corpus: roughly the 29th percentile at the bottom and the 55th at the top.
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.
The arithmetic of revolving
Put $2,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $527.
A card priced at the corpus median of 21.99% would charge roughly $492 on that balance. This one charges about $35 more per year.
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.
The fee structure
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 14.4%.
Transferred balances are priced at 14.4%; no separate transfer fee was captured from the filing.
Foreign transactions attract 1%. On $2,000 of overseas spending that is $20, charged on top of whatever exchange rate applies.
When a payment is late
On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.
Paying in full
21 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. With a corpus median of 25 days, this window is narrower than the norm.
The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.
The issuer's other agreements
Verve a Credit Union has 3 agreements indexed on this site.
What you cannot learn from the filing
This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.
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.
Go to the source
The filed PDF is linked from this page and runs two pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.
In short
At 23.4% 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 Verve a 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 Verve a Credit Union, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Verve a Credit Union
This is the only agreement from Verve a 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.