Consumer CC Agreement

The Consumer CC Agreement 10 30 23 filing from Robins Financial Credit Union sets out a purchase APR of 14.2%–18% and a 18% penalty rate. That purchase rate ranks near the 34th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

What follows is drawn entirely from Robins Financial Credit Union's CFPB filing for Consumer CC Agreement 10 30 23. The filing runs nine pages, and It is issued on the Visa network.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and a late payment maximum. An annual fee line is not stated.

The purchase APR against the corpus

Purchases price between 14.2% and 18% under this filing. The 3.8-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 28th percentile at the bottom and the 34th at the top.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

Translating the rate into money

The purchase rate turns a $2,000 revolving balance into roughly $394 of annual interest.

Priced at the median of 21.99%, that balance would generate about $492 in a year — so this agreement comes in around $97 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.

What a missed payment costs

If the account defaults, the filing permits a rate of 18%. Among disclosing agreements here that ranks near the 19th percentile.

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.

The fee structure

For cash advances the filing discloses a cash advance fee of $5 or 1% of the advance, whichever is greater and a cash advance APR of 16.2%. Advances under roughly $500 are charged the flat $5; larger ones are charged 1%.

The filing discloses a 14.2% balance transfer rate without an accompanying fee figure.

The filing sets a 1% foreign transaction fee, which adds roughly $30 to $3,000 spent outside the United States.

Paying in full

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

Against the rest of Robins Financial Credit Union's filings

There are 11 filings from Robins Financial Credit Union in this index. The issuer's own range is 12.95%–18%. At 18%, this agreement is dearer than 1 of its siblings.

The limits of this document

Absent from the captured terms: an annual fee. The original document is the place to look for any of these.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

The document itself

The original filing, 9 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

The pricing here is middling by the standards of the index — 18% on purchases is near enough to typical.