2022 07 01 Application and Solicitation Disclosure

2022 07 01 Application and Solicitation Disclosure, as filed by Bayport Federal Credit Union, carries a purchase APR of 9.49%–18.99%, no annual fee and a 3.99% introductory rate. That purchase rate ranks near the 40th percentile across this corpus of 4,587 filings.

What this filing discloses

The document behind this page is Bayport Federal Credit Union's filed agreement for 2022 07 01 Application and Solicitation Disclosure. The filing runs two pages, and It is issued on the Mastercard network.

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

One important caveat sits on top of everything else here: the rate table in this filing covers more than one product. Figures shown on this page may belong to a sibling card in the same table rather than to this one, and only the PDF can settle which row applies.

The introductory rate

The introductory rate is 3.99%, held for 12 months. It is a discount rather than a holiday — interest still accrues, just more slowly than the go-to rate.

Among the 763 filings here that disclose an introductory rate, 3.99% sits at about the 85th percentile.

The go-to rate is 18.99%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $523 a year on $2,500.

Pricing the purchase rate

The purchase APR is quoted as a range of 9.49% to 18.99%. That 9.5-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

The floor of that band sits at about the 8th percentile of filed purchase rates; the ceiling sits at about the 40th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

Translating the rate into money

Carry $3,000 on this card for a year without paying it down and the purchase rate alone generates roughly $627 in interest.

Measured against the 21.99% corpus median, the same $3,000 costs approximately $110 less per year here.

Per statement cycle that is on the order of $47.18 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.

The grace period

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

Default pricing

Late payments are capped at $20 under this filing, about the 17th percentile of late fee maximums in the corpus.

The fee structure

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.

Taking cash against the card means a cash advance APR of 9.49%.

Transferred balances are priced at 9.49%; no separate transfer fee was captured from the filing.

Foreign transactions attract 1.1%. On $2,000 of overseas spending that is $22, charged on top of whatever exchange rate applies.

How it sits in the issuer's own range

Bayport Federal Credit Union has 6 agreements indexed on this site. Across that lineup purchase rates span 18% to 20.49%; this filing's 18.99% sits above 1 of the comparable ones.

What is outside the disclosure

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

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.

Reading the agreement yourself

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

The pricing here is middling by the standards of the index — 18.99% on purchases is near enough to typical. The multi-product table is the larger caveat: these numbers are the table's, not necessarily this card's.