Application and Solicitation Disclosure (8 2 2024)

Kirtland Federal Credit Union's filed agreement for Application and Solicitation Disclosure (8 2 2024) discloses a purchase APR of 11%–17.75% and a 12-month 0% opening period. Against the 4,587 filings on this site, that rate lands around the 23rd percentile.

On the face of the filing

Kirtland Federal Credit Union submitted the terms for Application and Solicitation Disclosure (8 2 2024) to the CFPB's agreement database; this is what they contain. The filing runs three pages, and It is issued on the Visa network.

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

One important caveat sits on top of everything else here: the rate table in this filing covers more than one product. Figures shown on this page may belong to a sibling card in the same table rather than to this one, and only the PDF can settle which row applies.

Zero percent, and then what

This agreement opens at 0% for 12 months, the only period in the document where carrying a balance is free.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

What matters more than the promotion is the rate waiting behind it: 17.75%. A $2,500 balance that survives the promotional window costs roughly $485 a year from that point on.

Valued honestly, 12 months at zero on $2,500 avoids about $485 of interest compared with the go-to rate — the whole of what the promotion delivers.

Pricing the purchase rate

Purchases price between 11% and 17.75% under this filing. The 6.75-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

The floor of that band sits at about the 15th percentile of filed purchase rates; the ceiling sits at about the 23rd. In corpus terms the same card can be cheap or expensive depending on how it is priced.

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.

This figure is the post-promotional rate. The introductory pricing is handled separately further down.

The arithmetic of revolving

Carry $4,000 on this card for a year without paying it down and the purchase rate alone generates roughly $777 in interest.

The corpus median purchase rate is 21.99%, which on the same $4,000 would cost about $983 a year. This filing saves roughly $207 annually against that benchmark.

Note the $0.50 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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

The maximum late fee is $25 — roughly the 32nd percentile of the late fee ceilings disclosed across this index.

Fees, and what triggers them

Cash advances carry a cash advance fee of $3 or 1% of the advance, whichever is greater and a cash advance APR of 11%.

Transferred balances are priced at 11%; no separate transfer fee was captured from the filing.

No foreign transaction fee is charged, which puts this filing in the roughly 22% of disclosing agreements here that do not take a cut of overseas spending.

Grace period and minimum charge

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

A minimum interest charge of $0.50 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

The issuer's other agreements

Kirtland Federal Credit Union has 13 agreements indexed on this site. Their disclosed purchase rates run from 12.75% to 17.75%, and this one at 17.75% is more expensive than 9 of them.

What the filing does not tell you

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.

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.

Go to the source

The original filing, 3 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

The pricing here is middling by the standards of the index — 17.75% on purchases is near enough to typical. And because the filing covers several products in one table, even the figures that are right may belong to a different card.