Application and Solicitation Disclosure March2025

Southpoint Financial Credit Union's filed agreement for Application and Solicitation Disclosure March2025 discloses a purchase APR of 16.5%–18%, no annual fee, a six-month 0% opening period and a 18% penalty rate. Against the 4,587 filings on this site, that rate lands around the 34th percentile.

What the document actually states

Application and Solicitation Disclosure March2025 is one of the agreements Southpoint Financial Credit Union has on file with the CFPB. The filing runs three 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, a penalty rate and an annual fee line.

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.

Zero percent, and then what

This agreement opens at 0% for six months, the only period in the document where carrying a balance is free.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

Once the introductory period ends the rate becomes 18%, which turns a lingering $2,500 balance into approximately $493 of annual interest.

Valued honestly, six months at zero on $2,500 avoids about $246 of interest compared with the go-to rate — the whole of what the promotion delivers.

The purchase rate in context

The purchase APR is quoted as a range of 16.5% to 18%. That 1.5-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 41st percentile at the bottom and the 34th at the top.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

The cost of carrying a balance

The purchase rate turns a $4,000 revolving balance into roughly $789 of annual interest.

A typical filing in this index would charge about $983 on that balance; this one is roughly $195 a year below it.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

The downside terms

A penalty APR of 18% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 19th percentile.

The maximum late fee is $25 — roughly the 32nd percentile of the late fee ceilings disclosed across this index.

The fee structure

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

Taking cash against the card means a cash advance APR of 16.5%.

Transferred balances are priced at 16.5%; no separate transfer fee was captured from the filing.

Foreign transactions attract 1%. On $1,000 of overseas spending that is $10, charged on top of whatever exchange rate applies.

The no-interest path

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

The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.

What is outside the disclosure

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.

Go to the source

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

In short

At 18% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. The multi-product table is the larger caveat: these numbers are the table's, not necessarily this card's.