Application and Solicitation Disclosure

Application and Solicitation Disclosure 09292023, as filed by Lbs Financial Credit Union, carries a purchase APR of 14.9%–19.9% and no annual fee. The purchase rate sits at roughly the 42nd percentile of the 4,587 agreements indexed here.

On the face of the filing

Application and Solicitation Disclosure 09292023 is one of the agreements Lbs Financial Credit Union has on file with the CFPB. The filing runs two pages.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. A penalty rate is not stated.

The purchase rate in context

Rather than a single purchase rate, the document gives a band — 14.9% at the bottom, 19.9% at the top, 5 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Read against the index, the low end ranks around the 32nd percentile and the high end around the 42nd — the band straddles a wide stretch of the market this corpus describes.

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.

What the rate means in dollars

Put $2,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $550.

A typical filing in this index would charge about $615 on that balance; this one is roughly $64 a year below it.

Broken down to a single thirty-day cycle, the same balance accrues roughly $41.22.

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

What the card costs before you borrow

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

Taking cash against the card means a cash advance fee of $0 and a cash advance APR of 17.9%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Balance transfers cost a flat $0 up front and then accrue at 17.9%.

Spending abroad costs an extra 1% — about $20 on $2,000 of purchases, independent of interest.

Penalty pricing and late fees

$8 is the disclosed ceiling on a late payment fee, placing it near the 4th percentile of the set.

The no-interest path

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.

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

What the filing does not tell you

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.

Inside Lbs Financial Credit Union's filed lineup

This is one of 4 Lbs Financial Credit Union agreements collected here.

The document itself

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

19.9% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.