Credit Card

Cornerstone Community Federal Credit Union's filed agreement for Credit Card discloses a 7.9% purchase APR and a 14.9% penalty rate. That purchase rate ranks near the 3rd percentile across this corpus of 4,587 filings.

What the agreement puts on the record

What follows is drawn entirely from Cornerstone Community Federal Credit Union's CFPB filing for Credit Card. It is issued on the Visa network and the filing runs two pages.

Terms captured from the document include a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and a late payment maximum. An annual fee line is not stated.

How the purchase rate compares

7.9% puts the purchase APR near the 3rd percentile across 2,280 agreements, so it is lower than almost every other agreement here.

The cost of carrying a balance

At the disclosed purchase APR, $1,000 revolving for a full year costs something like $82 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 $164 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

For cash advances the filing discloses a cash advance APR of 8.9%. That is 1 points above the purchase rate.

The filing discloses a 8.9% balance transfer rate without an accompanying fee figure.

The filing sets a 1% foreign transaction fee, which adds roughly $15 to $1,500 spent outside the United States.

Default pricing

If the account defaults, the filing permits a rate of 14.9%. Among disclosing agreements here that ranks near the 4th percentile.

That is 7 points above the standard purchase rate. On a $1,000 balance, the shift from 7.9% to 14.9% adds something like $78 of interest over a year — the real cost of the default, quite apart from the fee itself.

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

Paying in full

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.

Inside Cornerstone Community Federal Credit Union's filed lineup

There are 14 filings from Cornerstone Community Federal Credit Union in this index. The issuer's own range is 7.9%–9.9%. At 7.9%, this agreement is dearer than 0 of its siblings.

The limits of this document

Absent from the captured terms: an annual fee. 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, 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

At 7.9% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost.