Application and Solicitation Disclosure

On the record for Application and Solicitation Disclosure: a purchase APR of 17.99%–23.99% and a $99 annual fee, filed by San Diego County Credit Union. The purchase rate sits at roughly the 57th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

San Diego County Credit Union filed this agreement for Application and Solicitation Disclosure with the Consumer Financial Protection Bureau. The filing runs two pages, and It is issued on the Visa network.

On the record here: 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.

One important caveat sits on top of everything else here: the rate table in this filing covers more than one product. Figures shown on this page may belong to a sibling card in the same table rather than to this one, and only the PDF can settle which row applies.

The purchase rate in context

The purchase APR is quoted as a range of 17.99% to 23.99%. 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 51st percentile at the bottom and the 57th 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.

What a balance actually costs

A $2,000 balance left untouched for twelve months accrues about $542 in interest at this purchase rate.

Against the corpus median of 21.99%, that is approximately $50 a year of extra interest on the same $2,000.

Per statement cycle that is on the order of $39.81 on $2,000, which is the number that actually shows up on a bill.

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 fee structure

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

The filing states the fee is waived for the first year, so the $99 is a second-year cost rather than an immediate one.

For cash advances the filing discloses a cash advance fee of $1 or 2% of the advance, whichever is greater and a cash advance APR of 21.99%. 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 transfer fee is $1 or 2% of the amount transferred, whichever is greater; transferred balances then run at 21.99%. Shifting $1,000 across attracts something like $20 in fees on day one.

The foreign transaction fee is zero — a minority position in this corpus, where roughly 22% of disclosing filings waive it.

Grace period and minimum charge

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

What a missed payment costs

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

Against the rest of San Diego County Credit Union's filings

This is one of 7 San Diego County Credit Union agreements collected here. Pricing across this issuer's filings is uniform at 22.24% — the rate table does not distinguish one of its cards from another.

Among the issuer's other filings that disclose a fee, 0 of 4 come in below this card's $99.

What is outside the disclosure

The disclosure parsed here does not state 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.

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.

Reading the agreement yourself

Everything here is a reading of the filed agreement, two pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

23.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. Note that the $99 annual fee falls due whether the card is used or not. And because the filing covers several products in one table, even the figures that are right may belong to a different card.