4Q Credit Card Disclsoures

On the record for 4Q Credit Card Disclsoures: a 14.75% purchase APR, no annual fee and a 17.9% penalty rate, filed by Founders Federal Credit Union. That purchase rate ranks near the 14th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

What follows is drawn entirely from Founders Federal Credit Union's CFPB filing for 4Q Credit Card Disclsoures. The filing runs seven pages.

Terms captured from the document include a purchase rate, a balance transfer rate, a penalty rate, an annual fee line and a late payment maximum. It is silent on a cash advance rate.

Pricing the purchase rate

At 14.75%, the purchase APR falls at roughly the 14th percentile of the 2,280 filings indexed here, which is comfortably below what most issuers filed.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

What the rate means in dollars

Carry $1,500 on this card for a year without paying it down and the purchase rate alone generates roughly $238 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 $130 annually against that benchmark.

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.

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 2.99% balance transfer rate without an accompanying fee figure.

The foreign transaction fee is zero — a minority position in this corpus, where roughly 22% of disclosing filings waive it.

Default pricing

A penalty APR of 17.9% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 8th percentile.

That is 3.15 points above the standard purchase rate. On a $2,000 balance, the shift from 14.75% to 17.9% adds something like $74 of interest over a year — the real cost of the default, quite apart from the fee itself.

The maximum late fee is $0 — roughly the 2nd percentile of the late fee ceilings disclosed across this index.

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.

What you cannot learn from the filing

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

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

The issuer's other agreements

This is one of 17 Founders Federal Credit Union agreements collected here. Their disclosed purchase rates run from 12.5% to 14.25%, and this one at 14.75% is more expensive than 4 of them.

The document itself

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

In short

14.75% places this filing at the inexpensive end of the set, which is the headline here. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.