Credit Card Disclosures

The Credit Card Disclosures filing from Grow Financial Federal Credit Union sets out a 1.99% purchase APR, a 17.99% introductory rate and a 18% penalty rate. The purchase rate sits at roughly the 1st percentile of the 4,587 agreements indexed here.

What the document actually states

What follows is drawn entirely from Grow Financial Federal Credit Union's CFPB filing for Credit Card Disclosures. The filing runs one page, and It is issued on the Visa network.

The filing is explicit about a purchase rate, a cash advance rate, a penalty rate, a late payment maximum and a foreign transaction fee. A balance transfer rate and an annual fee line are not stated.

The introductory rate

The filing discloses an introductory rate of 17.99% but no term for it.

Among the 763 filings here that disclose an introductory rate, 17.99% sits at about the 96th percentile.

The go-to rate is 1.99%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $50 a year on $2,500.

The purchase rate in context

At 1.99%, the purchase APR falls at roughly the 1st percentile of the 2,280 filings indexed here, which is lower than almost every other agreement here.

The arithmetic of revolving

A $3,000 balance left untouched for twelve months accrues about $60 in interest at this purchase rate.

A typical filing in this index would charge about $738 on that balance; this one is roughly $677 a year below it.

Broken down to a single thirty-day cycle, the same balance accrues roughly $4.91.

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

Fees, and what triggers them

Cash advances carry a cash advance APR of 18%. That is 16.01 points above the purchase rate.

Spending abroad costs an extra 1% — about $20 on $2,000 of purchases, independent of interest.

When a payment is late

A penalty APR of 18% 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 19th percentile.

The jump from 1.99% to 18% is 16.01 percentage points, worth roughly $531 extra per year on $3,000 of balance.

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

Paying in full

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

The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.

The limits of this document

This page cannot tell you balance transfer terms and an annual fee, because the filing's disclosure table as read does not contain them.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Where the authority sits

Everything here is a reading of the filed agreement, one page of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

At 1.99% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost.