Before you read the numbers.
The annual fee is disclosed as waived for the first year. The recurring fee from year two is the number that matters over the life of the account.
Disclosed rates and fees
Every figure below was read from this issuer's filed agreement. Anything the filing does not state is left out of this table rather than shown as zero.
| Cash advance APR | 18% |
|---|---|
| Penalty APR | 18% |
| Annual fee | $49 |
| Late payment fee | up to $20 |
| Foreign transaction fee | None |
| Cash advance fee | None |
| Balance transfer fee | None |
| Grace period | 25 days |
| Minimum interest charge | $0 |
Analysis
On the record for Navy Federal Credit Union Credit Card Pricing Terms: a $49 annual fee and a 18% penalty rate, filed by Navy Federal Credit Union.
The disclosed terms
Navy Federal Credit Union Credit Card Pricing Terms is one of the agreements Navy Federal Credit Union has on file with the CFPB. The filing runs three pages.
The disclosure covers a cash advance rate, a penalty rate, an annual fee line, a late payment maximum and a foreign transaction fee. No figure appears for a purchase rate and a balance transfer rate.
Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.
Default pricing
If the account defaults, the filing permits a rate of 18%. Among disclosing agreements here that ranks near the 19th percentile.
$20 is the disclosed ceiling on a late payment fee, placing it near the 17th percentile of the set.
Charges beyond interest
The annual fee is $49, charged whether or not the card is used. Against the filings here that disclose a fee, that sits at roughly the 87th percentile.
A first-year waiver applies according to the document — the $49 begins biting in year two.
Taking cash against the card means a cash advance APR of 18%. 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.
The foreign transaction fee is zero — a minority position in this corpus, where roughly 22% of disclosing filings waive it.
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.
The limits of this document
The disclosure parsed here does not state a purchase rate. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.
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.
The document itself
The filed PDF is linked from this page and runs three pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.
In short
The $49 annual fee is charged regardless of use, so it is a cost that applies even to an account that never revolves. All of this rests on figures read from the filing with less than full confidence, which is reason enough to check the document before relying on any of it.
The source document
This page is a reading of one document: the cardholder agreement Navy Federal Credit Union filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.
Applications are handled by Navy Federal Credit Union, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Navy Federal Credit Union
This is the only agreement from Navy Federal Credit Union in the database with enough disclosed terms to publish. See the issuer's full filing list.
Where this card sits
Groups this agreement qualifies for, by its own disclosed terms:
Comparable cards from other issuers
Closest disclosed purchase APR among cards in the same groups.