Visa Cash Rewards

The Visa Cash Rewards filing from Westmark Credit Union sets out a purchase APR of 16.5%–20.5%, no annual fee and a 18% penalty rate. Against the 4,587 filings on this site, that rate lands around the 44th percentile.

The disclosed terms

Westmark Credit Union filed this agreement for Visa Cash Rewards with the Consumer Financial Protection Bureau. The filing runs four pages, and It is issued on the Visa network.

On the record here: a purchase rate, a penalty rate, an annual fee line, a late payment maximum and a foreign transaction fee. A cash advance rate and a balance transfer rate are not stated.

Where the purchase APR sits

This is a tiered agreement: the filing discloses a purchase APR anywhere from 16.5% to 20.5%, a spread of 4 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

The floor of that band sits at about the 41st percentile of filed purchase rates; the ceiling sits at about the 44th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

What the rate means in dollars

A $1,500 balance left untouched for twelve months accrues about $341 in interest at this purchase rate.

A typical filing in this index would charge about $369 on that balance; this one is roughly $28 a year below it.

Month to month it reads as about $25.48 per cycle on that balance.

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.

Where the fees are

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

The filing sets a 1% foreign transaction fee, which adds roughly $30 to $3,000 spent outside the United States.

Penalty pricing and late fees

If the account defaults, the filing permits a rate of 18%. Among disclosing agreements here that ranks near the 19th percentile.

The maximum late fee is $15 — roughly the 11th percentile of the late fee ceilings disclosed across this index.

The grace period

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.

The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.

What is outside the disclosure

The disclosure parsed here does not state balance transfer terms. 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.

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.

Reading the agreement yourself

The original filing, 4 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

The pricing here is middling by the standards of the index — 20.5% on purchases is near enough to typical. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.