Application and Solicitation Disclosure

The Application and Solicitation Disclosure filing from 1st United Credit Union sets out a purchase APR of 12.9%–20.4% and a 16.4% penalty rate. That purchase rate ranks near the 43rd percentile across this corpus of 4,587 filings.

What the agreement puts on the record

1st United Credit Union filed this agreement for Application and Solicitation Disclosure with the Consumer Financial Protection Bureau. It is issued on the Visa network and the filing runs two pages.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and a late payment maximum. It is silent on an annual fee line.

This document discloses several products inside a single rate table. That means the numbers below are the ones the table contains, not necessarily the ones attached to this particular card — the filing itself is the only way to tell them apart.

Pricing the purchase rate

Rather than a single purchase rate, the document gives a band — 12.9% at the bottom, 20.4% at the top, 7.5 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Those two numbers occupy very different places in the corpus: roughly the 22nd percentile at the bottom and the 43rd 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.

What the rate means in dollars

At the disclosed purchase APR, $1,000 revolving for a full year costs something like $226 in interest.

The corpus median purchase rate is 21.99%, which on the same $1,000 would cost about $246 a year. This filing saves roughly $20 annually against that benchmark.

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

Cash advances carry a cash advance fee of $5 or 3% of the advance, whichever is greater and a cash advance APR of 10.4%. The two halves of that fee cross at about $167: below it the flat $5 applies, above it the percentage does.

Transferred balances are priced at 10.4%; no separate transfer fee was captured from the filing.

The filing sets a 2% foreign transaction fee, which adds roughly $20 to $1,000 spent outside the United States.

When a payment is late

A penalty APR of 16.4% 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 6th percentile.

$10 is the disclosed ceiling on a late payment fee, placing it near the 6th percentile of the set.

Paying in full

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

The issuer's other agreements

37 separate 1st United Credit Union filings appear in the corpus. The issuer's own range is 9.4%–20.4%. At 20.4%, this agreement is dearer than 5 of its siblings.

What the filing does not tell you

This page cannot tell you an annual fee, because the filing's disclosure table as read does not contain it.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Reading the agreement yourself

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

In short

20.4% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. The multi-product table is the larger caveat: these numbers are the table's, not necessarily this card's.