07 19 2023 Loan Liner Signature disclosure FINAL

On the record for 07 19 2023 Loan Liner Signature disclosure FINAL: a 19.74% purchase APR, no annual fee and a 2.99% introductory rate, filed by Lansing Automakers Federal Credit Union. The purchase rate sits at roughly the 41st percentile of the 4,587 agreements indexed here.

What the document actually states

Lansing Automakers Federal Credit Union submitted the terms for 07 19 2023 Loan Liner Signature disclosure FINAL to the CFPB's agreement database; this is what they contain. The filing runs two pages, and It is issued on the Visa network.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. No figure appears for a penalty rate.

What the promotional rate is worth

For the first 12 months the filing sets a reduced rate of 2.99%. Balances still cost something during that window.

Among the 763 filings here that disclose an introductory rate, 2.99% sits at about the 79th percentile.

The go-to rate is 19.74%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $218 a year on $1,000.

How the purchase rate compares

The purchase APR of 19.74% places this agreement around the 41st percentile of the set — it sits close to the middle of the corpus.

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

Translating the rate into money

A $1,200 balance left untouched for twelve months accrues about $262 in interest at this purchase rate.

Priced at the median of 21.99%, that balance would generate about $295 in a year — so this agreement comes in around $33 cheaper for the same debt.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

Fees, and what triggers them

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

Cash advances carry a cash advance APR of 19.74%. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

Transferred balances are priced at 19.74%; no separate transfer fee was captured from the filing.

The filing sets a 1% foreign transaction fee, which adds roughly $10 to $1,000 spent outside the United States.

The downside terms

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

Paying in full

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.

What is outside the disclosure

Absent from the captured terms: penalty pricing. The original document is the place to look for any of these.

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.

How it sits in the issuer's own range

17 separate Lansing Automakers Federal Credit Union filings appear in the corpus. Their disclosed purchase rates run from 19.74% to 22.74%, and this one at 19.74% is more expensive than 0 of them.

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

The pricing here is middling by the standards of the index — 19.74% on purchases is near enough to typical.