Application and Solicitation Disclosure

1st United Credit Union's filed agreement for Application and Solicitation Disclosure discloses a 13.9% purchase APR and a 19.9% penalty rate. The purchase rate sits at roughly the 12th percentile of the 4,587 agreements indexed here.

What the document actually states

1st United Credit Union submitted the terms for Application and Solicitation Disclosure to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs two pages.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and a late payment maximum. No figure appears for an annual fee line.

The purchase APR against the corpus

13.9% puts the purchase APR near the 12th percentile across 2,280 agreements, so it reads as inexpensive against the rest of the filings.

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.

The arithmetic of revolving

The purchase rate turns a $3,000 revolving balance into roughly $447 of annual interest.

A typical filing in this index would charge about $738 on that balance; this one is roughly $290 a year below it.

Per statement cycle that is on the order of $34.46 on $3,000, which is the number that actually shows up on a bill.

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.

Charges beyond interest

For cash advances the filing discloses a cash advance fee of $5 or 2% of the advance, whichever is greater and a cash advance APR of 13.9%. $250 is the crossover point where the percentage overtakes the $5 minimum. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

Balance transfers cost $5 or 2% of the amount transferred, whichever is greater up front and then accrue at 13.9%. On $2,000 that fee is about $40 before any interest is charged.

Spending abroad costs an extra 2% — about $40 on $2,000 of purchases, independent of interest.

Penalty pricing and late fees

The agreement discloses penalty pricing of 19.9% — about the 26th percentile of the 794 penalty rates recorded across this index.

Measured in money, moving from 13.9% to 19.9% costs an extra $142 or so annually on $2,000 — a far larger number than any single late fee.

Late payments are capped at $10 under this filing, about the 6th percentile of late fee maximums in the corpus.

The grace period

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

What is outside the disclosure

The disclosure parsed here does not state an annual fee. 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.

Against the rest of 1st United Credit Union's filings

This is one of 37 1st United Credit Union agreements collected here. The issuer's own range is 9.4%–20.4%. At 13.9%, this agreement is dearer than 3 of its siblings.

The document itself

This summary stands or falls on the linked PDF — two pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

13.9% places this filing at the inexpensive end of the set, which is the headline here.