application solicitation disclosure (1 31 2023)

Kirtland Federal Credit Union's filed agreement for application solicitation disclosure (1 31 2023) discloses a purchase APR of 10%–16.75%. The purchase rate sits at roughly the 19th percentile of the 4,587 agreements indexed here.

The disclosed terms

Kirtland Federal Credit Union filed this agreement for application solicitation disclosure (1 31 2023) with the Consumer Financial Protection Bureau. It is issued on the Visa network and the filing runs two pages.

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. 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.

How the purchase rate compares

Purchases price between 10% and 16.75% 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.

Read against the index, the low end ranks around the 11th percentile and the high end around the 19th — the band straddles a wide stretch of the market this corpus describes.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

What the rate means in dollars

A $2,500 balance left untouched for twelve months accrues about $456 in interest at this purchase rate.

Priced at the median of 21.99%, that balance would generate about $615 in a year — so this agreement comes in around $159 cheaper for the same debt.

Per statement cycle that is on the order of $34.65 on $2,500, which is the number that actually shows up on a bill.

There is also a floor: the filing sets a minimum interest charge of $0.50, so any cycle that accrues less than that is billed at $0.50 anyway.

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

The fee structure

For cash advances the filing discloses a cash advance fee of $3 or 1% of the advance, whichever is greater and a cash advance APR of 10%. The two halves of that fee cross at about $300: below it the flat $3 applies, above it the percentage does. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

The filing discloses a 10% balance transfer rate without an accompanying fee figure.

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.

Penalty pricing and late fees

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

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.

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

How it sits in the issuer's own range

Kirtland Federal Credit Union has 13 agreements indexed on this site. Across that lineup purchase rates span 12.75% to 17.75%; this filing's 16.75% sits above 4 of the comparable ones.

What is outside the disclosure

This page cannot tell you an annual fee 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.

Where the authority sits

The original filing, 2 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 purchase rate of 16.75% is one of the cheaper figures in this index — the central point in the agreement's favour. And because the filing covers several products in one table, even the figures that are right may belong to a different card.