01 2023 Rewards, Simple and Secured ASD

Lansing Automakers Federal Credit Union's filed agreement for 01 2023 Rewards, Simple and Secured ASD discloses no annual fee.

What the agreement puts on the record

01 2023 Rewards, Simple and Secured ASD is one of the agreements Lansing Automakers Federal Credit Union has on file with the CFPB. The filing runs two pages, and It is issued on the Visa network.

The filing is explicit about an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. No figure appears for a purchase rate, a cash advance rate and a balance transfer rate.

The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.

A secured agreement

This is a secured agreement — the credit line is collateralised by a deposit. The disclosure table captured on this page covers pricing only; the mechanics of the deposit live in the body of the document.

Default pricing

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

Charges beyond interest

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 sets a 1% foreign transaction fee, which adds roughly $50 to $5,000 spent outside the United States.

Paying in full

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

How it sits in the issuer's own range

Lansing Automakers Federal Credit Union has 17 agreements indexed on this site. Their disclosed purchase rates run from 19.74% to 22.74%, though this particular filing does not state one in comparable form.

What the filing does not tell you

This page cannot tell you a purchase rate, anything about cash advances, balance transfer terms 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 filed PDF is linked from this page and runs two pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

Given the parsing confidence on this filing, read the agreement itself before treating any of these figures as settled.