application solicitation disclosure

application solicitation disclosure, as filed by 1st United Credit Union, carries a 9.4% purchase APR and a 15.4% penalty rate. That purchase rate ranks near the 4th percentile across this corpus of 4,587 filings.

On the face of the filing

1st United Credit Union filed this agreement for application solicitation disclosure with the Consumer Financial Protection Bureau. 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. It is silent on an annual fee line.

The purchase APR against the corpus

Ranked against the corpus, this purchase APR — 9.4% — sits at approximately the 4th percentile and is among the very cheapest figures in the whole set.

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

The purchase rate turns a $1,000 revolving balance into roughly $99 of annual interest.

Priced at the median of 21.99%, that balance would generate about $246 in a year — so this agreement comes in around $147 cheaper for the same debt.

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

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 9.4%. $250 is the crossover point where the percentage overtakes the $5 minimum.

Moving a balance onto this card carries an up-front charge of $5 or 2% of the amount transferred, whichever is greater, with the transferred balance priced at 9.4%. Shifting $2,000 across attracts something like $40 in fees on day one.

Spending abroad costs an extra 2% — about $100 on $5,000 of purchases, independent of interest.

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

Penalty pricing and late fees

The agreement discloses penalty pricing of 15.4% — about the 5th percentile of the 794 penalty rates recorded across this index.

Measured in money, moving from 9.4% to 15.4% costs an extra $136 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.

The issuer's other agreements

1st United Credit Union has 37 agreements indexed on this site. The issuer's own range is 9.4%–20.4%. At 9.4%, this agreement is dearer than 0 of its siblings.

The limits of this document

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.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

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

The purchase rate of 9.4% is one of the cheaper figures in this index — the central point in the agreement's favour.