Application and Solicitation Disclosure

Lbs Financial Credit Union's filed agreement for Application and Solicitation Disclosure 09292023 discloses a purchase APR of 14.9%–19.9% and no annual fee. Against the 4,587 filings on this site, that rate lands around the 42nd percentile.

What the document actually states

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 disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. It is silent on a penalty rate.

The purchase APR against the corpus

Purchases price between 14.9% and 19.9% under this filing. The 5-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

Those two numbers occupy very different places in the corpus: roughly the 32nd percentile at the bottom and the 42nd at the top.

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.

The arithmetic of revolving

Put $4,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $880.

Priced at the median of 21.99%, that balance would generate about $983 in a year — so this agreement comes in around $103 cheaper for the same debt.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

The no-interest path

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.

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

Penalty pricing and late fees

Late payments are capped at $8 under this filing, about the 4th percentile of late fee maximums in the corpus.

Fees, and what triggers them

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.

Taking cash against the card means a cash advance fee of $0 and a cash advance APR of 17.9%.

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

Foreign transactions attract 1%. On $1,500 of overseas spending that is $15, charged on top of whatever exchange rate applies.

The issuer's other agreements

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

The limits of this document

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

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

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

The pricing here is middling by the standards of the index — 19.9% on purchases is near enough to typical.