Share Secured solicitation

The Share Secured solicitation filing from Alero Financial Credit Union sets out a 9.9% purchase APR. That purchase rate ranks near the 5th percentile across this corpus of 4,587 filings.

What the document actually states

The document behind this page is Alero Financial Credit Union's filed agreement for Share Secured solicitation. The filing runs two pages, and It is issued on the Visa network.

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

Collateral and the deposit

The product name identifies this as a secured card, which means the account is backed by a deposit the cardholder provides. The filing indexed here discloses rates and fees; it is the agreement text that governs how the deposit is held, when it is applied and under what conditions it is returned.

It is worth noting that collateral does not automatically mean a cheap rate: at 9.9%, this filing's purchase APR still sits at about the 5th percentile of the whole corpus, secured and unsecured filings alike.

The purchase rate in context

Measured against every other filing on the site, 9.9% is about the 5th percentile for purchase APR; it lands at the extreme low end of the filings.

What the rate means in dollars

Put $5,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $520.

A typical filing in this index would charge about $1,229 on that balance; this one is roughly $709 a year below it.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

Default pricing

$39 is the disclosed ceiling on a late payment fee, placing it near the 63rd percentile of the set.

What the card costs before you borrow

The filing discloses a 9.9% balance transfer rate without an accompanying fee figure.

Paying in full

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

Inside Alero Financial Credit Union's filed lineup

Alero Financial Credit Union has 13 agreements indexed on this site.

What the filing does not tell you

This page cannot tell you anything about cash advances, an annual fee, a foreign transaction fee and penalty pricing, because the filing's disclosure table as read does not contain them.

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.

The document itself

The filed PDF is linked from this page and runs two pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

9.9% places this filing at the inexpensive end of the set, which is the headline here.