Application and Solicitation Disclosure

On the record for Application and Solicitation Disclosure: a purchase APR of 16.24%–22.24% and a $99 annual fee, filed by San Diego County Credit Union. The purchase rate sits at roughly the 51st percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

San Diego County Credit Union submitted the terms for Application and Solicitation Disclosure to the CFPB's agreement database; this is what they contain. The filing runs two pages, and It is issued on the Visa network.

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

The filing bundles multiple products into one disclosure table. Any figure quoted here may describe a related card in the same filing, so the PDF should be read before treating these numbers as this card's own.

The purchase APR against the corpus

Rather than a single purchase rate, the document gives a band — 16.24% at the bottom, 22.24% at the top, 6 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Read against the index, the low end ranks around the 40th percentile and the high end around the 51st — the band straddles a wide stretch of the market this corpus describes.

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.

The arithmetic of revolving

Put $2,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $622.

On a median-priced agreement from this index (21.99%) the same $2,500 would run about $615 a year, so this card costs in the region of $8 more annually for the identical balance.

Month to month it reads as about $46.10 per cycle on that balance.

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.

Paying in full

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

What a missed payment costs

The maximum late fee is $10 — roughly the 6th percentile of the late fee ceilings disclosed across this index.

Where the fees are

$99 a year is the disclosed annual fee, which ranks near the 93rd percentile of the fees filed across this corpus.

For scale, $99 is approximately what $445 of revolving balance would cost in interest over twelve months at this card's 22.24% rate.

Taking cash against the card means a cash advance fee of $1 or 2% of the advance, whichever is greater and a cash advance APR of 20.24%. The two halves of that fee cross at about $50: below it the flat $1 applies, above it the percentage does.

Moving a balance onto this card carries an up-front charge of $1 or 2% of the amount transferred, whichever is greater, with the transferred balance priced at 20.24%. Transferring $5,000 would cost roughly $100 at the door.

No foreign transaction fee is charged, which puts this filing in the roughly 22% of disclosing agreements here that do not take a cut of overseas spending.

Inside San Diego County Credit Union's filed lineup

San Diego County Credit Union has 7 agreements indexed on this site. The issuer's own range is 22.24%–23.99%. At 22.24%, this agreement is dearer than 0 of its siblings.

Its $99 annual fee is higher than 0 of the 4 sibling filings that state one.

What you cannot learn from the filing

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

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.

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

At 22.24% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. The $99 annual fee is charged regardless of use, so it is a cost that applies even to an account that never revolves. And because the filing covers several products in one table, even the figures that are right may belong to a different card.