Credit Card Account Opening Disclosure and Agreement

Red River Federal Credit Union's filed agreement for Credit Card Account Opening Disclosure and Agreement discloses a 14.75% purchase APR and no annual fee. Against the 4,587 filings on this site, that rate lands around the 14th percentile.

The disclosed terms

What follows is drawn entirely from Red River Federal Credit Union's CFPB filing for Credit Card Account Opening Disclosure and Agreement. The filing runs three pages, and It is issued on the Visa network.

The disclosure covers a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a foreign transaction fee. A balance transfer rate and a penalty rate are not stated.

The purchase rate was taken from a row the filing did not clearly label, so there is some risk it describes a different balance type.

Where the purchase APR sits

14.75% puts the purchase APR near the 14th percentile across 2,280 agreements, so it sits well down in the cheaper fifth of the set.

Translating the rate into money

The purchase rate turns a $5,000 revolving balance into roughly $794 of annual interest.

Priced at the median of 21.99%, that balance would generate about $1,229 in a year — so this agreement comes in around $435 cheaper for the same debt.

Month to month it reads as about $60.97 per cycle on that balance.

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.

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

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

Default pricing

$20 is the disclosed ceiling on a late payment fee, placing it near the 17th percentile of the set.

The fee structure

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.

Taking cash against the card means a cash advance fee of $5 or 1% of the advance, whichever is greater and a cash advance APR of 14.75%. The two halves of that fee cross at about $500: below it the flat $5 applies, above it the percentage does.

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

The limits of this document

Absent from the captured terms: balance transfer terms and 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.

Go to the source

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 purchase rate of 14.75% is one of the cheaper figures in this index — the central point in the agreement's favour. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.