NEW Secured App & Solicitation Disclosure

Erie Federal Credit Union's filed agreement for NEW Secured App & Solicitation Disclosure discloses a 15.9% purchase APR. Against the 4,587 filings on this site, that rate lands around the 17th percentile.

What the document actually states

NEW Secured App & Solicitation Disclosure is one of the agreements Erie Federal Credit Union has on file with the CFPB. The filing runs two pages, and It is issued on the Mastercard network.

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

A secured agreement

Secured cards work against a deposit held by the issuer. The rate and fee figures summarised here say nothing about the size of that deposit or the terms attached to it, both of which are matters for the agreement text itself.

For context, the 15.9% purchase rate lands around the 17th percentile of all the agreements on this site, which is the useful comparison regardless of the deposit.

How the purchase rate compares

Measured against every other filing on the site, 15.9% is about the 17th percentile for purchase APR; it reads as inexpensive against the rest of the filings.

What the rate means in dollars

The purchase rate turns a $2,500 revolving balance into roughly $431 of annual interest.

Measured against the 21.99% corpus median, the same $2,500 costs approximately $184 less per year here.

Per statement cycle that is on the order of $32.88 on $2,500, which is the number that actually shows up on a bill.

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.

Default pricing

On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.

Where the fees are

Taking cash against the card means a cash advance APR of 15.9%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 15.9%; no separate transfer fee was captured from the filing.

Spending abroad costs an extra 1% — about $30 on $3,000 of purchases, independent of interest.

The grace period

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

Against the rest of Erie Federal Credit Union's filings

7 separate Erie Federal Credit Union filings appear in the corpus. The issuer's own range is 15.9%–17.9%. At 15.9%, this agreement is dearer than 0 of its siblings.

What you cannot learn from the filing

The disclosure parsed here does not state an annual fee and penalty pricing. 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.

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

15.9% places this filing at the inexpensive end of the set, which is the headline here.