Credit Card Disclosures 2Qtr

Founders Federal Credit Union's filed agreement for Credit Card Disclosures 2Qtr 2024 discloses a 14.25% purchase APR and no annual fee. That purchase rate ranks near the 13th percentile across this corpus of 4,587 filings.

The disclosed terms

This page covers the agreement Founders Federal Credit Union filed for Credit Card Disclosures 2Qtr 2024. The filing runs six pages.

The disclosure covers a purchase rate, a balance transfer rate, an annual fee line, a late payment maximum and a foreign transaction fee. It is silent on a cash advance rate and a penalty rate.

How the purchase rate compares

14.25% puts the purchase APR near the 13th percentile across 2,280 agreements, so it reads as inexpensive against the rest of the filings.

The arithmetic of revolving

Carry $1,500 on this card for a year without paying it down and the purchase rate alone generates roughly $230 in interest.

The corpus median purchase rate is 21.99%, which on the same $1,500 would cost about $369 a year. This filing saves roughly $139 annually against that benchmark.

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

What the card costs before you borrow

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.

The filing discloses a 6% balance transfer rate without an accompanying fee figure.

Spending abroad costs an extra 1% — about $15 on $1,500 of purchases, independent of interest.

What a missed payment costs

$0 is the disclosed ceiling on a late payment fee, placing it near the 2nd percentile of the set.

The grace period

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

The limits of this document

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

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.

Inside Founders Federal Credit Union's filed lineup

Founders Federal Credit Union has 17 agreements indexed on this site. The issuer's own range is 12.5%–14.75%. At 14.25%, this agreement is dearer than 3 of its siblings.

Go to the source

This summary stands or falls on the linked PDF — six pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

The purchase rate of 14.25% is one of the cheaper figures in this index — the central point in the agreement's favour.