application solicitation disclosure (5 2 2022)

application solicitation disclosure (5 2 2022), as filed by Kirtland Federal Credit Union, carries a purchase APR of 6%–12.75%. Against the 4,587 filings on this site, that rate lands around the 9th percentile.

What this filing discloses

The document behind this page is Kirtland Federal Credit Union's filed agreement for application solicitation disclosure (5 2 2022). It is issued on the Visa network and the filing runs two pages.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, a late payment maximum and a foreign transaction fee. No figure appears for 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.

Where the purchase APR sits

This is a tiered agreement: the filing discloses a purchase APR anywhere from 6% to 12.75%, a spread of 6.75 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

The floor of that band sits at about the 3rd percentile of filed purchase rates; the ceiling sits at about the 9th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

What a balance actually costs

A $2,000 balance left untouched for twelve months accrues about $272 in interest at this purchase rate.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $220 annually against that benchmark.

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

Where the fees are

Cash advances carry a cash advance fee of $3 or 1% of the advance, whichever is greater and a cash advance APR of 6%. $300 is the crossover point where the percentage overtakes the $3 minimum. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 6%; no separate transfer fee was captured from the filing.

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

When a payment is late

The maximum late fee is $25 — roughly the 32nd 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.

Where interest applies at all, the filing bills at least $0.50. On a tiny balance that floor can dwarf the rate itself.

The issuer's other agreements

This is one of 13 Kirtland Federal Credit Union agreements collected here. The issuer's own range is 14%–17.75%. At 12.75%, this agreement is dearer than 0 of its siblings.

What you cannot learn from the filing

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

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Reading the agreement yourself

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

In short

12.75% places this filing at the inexpensive end of the set, which is the headline here. The multi-product table is the larger caveat: these numbers are the table's, not necessarily this card's.