Credit Card Application and Solicitation Disclosure

On the record for Credit Card Application and Solicitation Disclosure: a purchase APR of 8.75%–14.75% and no annual fee, filed by Red River Federal Credit Union. Against the 4,587 filings on this site, that rate lands around the 14th percentile.

What this filing discloses

What follows is drawn entirely from Red River Federal Credit Union's CFPB filing for Credit Card Application and Solicitation Disclosure. The filing runs two pages.

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

Where the purchase APR sits

The purchase APR is quoted as a range of 8.75% to 14.75%. That 6-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Those two numbers occupy very different places in the corpus: roughly the 5th percentile at the bottom and the 14th at the top.

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 a balance actually costs

At the disclosed purchase APR, $3,000 revolving for a full year costs something like $477 in interest.

A typical filing in this index would charge about $738 on that balance; this one is roughly $261 a year below it.

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

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

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

When a payment is late

On the fee side, a late payment can cost up to $20, which is around the 17th percentile here.

The fee structure

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.

For cash advances the filing discloses a cash advance fee of $5 or 1% of the advance, whichever is greater. $500 is the crossover point where the percentage overtakes the $5 minimum.

Foreign transactions attract 1%. On $3,000 of overseas spending that is $30, charged on top of whatever exchange rate applies.

What is outside the disclosure

The disclosure parsed here does not state balance transfer terms and penalty pricing. 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.

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.

Where the authority sits

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

14.75% places this filing at the inexpensive end of the set, which is the headline here.