Credit Card

Advancial Federal Credit Union's filed agreement for Credit Card discloses a purchase APR of 9.9%–16.9%, no annual fee and a 12-month 0% opening period. That purchase rate ranks near the 20th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

What follows is drawn entirely from Advancial Federal Credit Union's CFPB filing for Credit Card. It is issued on the Visa network and the filing runs one page.

Terms captured from the document include a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a foreign transaction fee. A balance transfer rate and a penalty rate are not stated.

Zero percent, and then what

The filing discloses a 0% introductory rate running 12 months. For that window, balances covered by the promotion accrue no interest at all.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

Behind the promotion sits a 16.9% purchase rate. On $2,500 that is in the region of $460 a year once the window closes.

Valued honestly, 12 months at zero on $2,500 avoids about $460 of interest compared with the go-to rate — the whole of what the promotion delivers.

How the purchase rate compares

The purchase APR is quoted as a range of 9.9% to 16.9%. That 7-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Read against the index, the low end ranks around the 10th percentile and the high end around the 20th — the band straddles a wide stretch of the market this corpus describes.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

The cost of carrying a balance

At the disclosed purchase APR, $1,000 revolving for a full year costs something like $184 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 $62 annually against that benchmark.

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.

Fees, and what triggers them

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.

For cash advances the filing discloses a cash advance fee of 3% and a cash advance APR of 9.9%.

Foreign transactions carry no fee. Only about 22% of the filings here that disclose a foreign transaction fee set it at zero, so this is a genuine point of difference.

Default pricing

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

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.

Inside Advancial Federal Credit Union's filed lineup

There are 7 filings from Advancial Federal Credit Union in this index. The issuer's own range is 14.9%–16.9%. At 16.9%, this agreement is dearer than 1 of its siblings.

The limits of this document

Absent from the captured terms: balance transfer terms and penalty pricing. The original document is the place to look for any of these.

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.

Where the authority sits

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

In short

At 16.9% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.