Before you read the numbers.
This agreement prices the card as the Prime Rate plus a margin rather than as a fixed APR. The figure shown is that margin in percentage points, not an APR. The rate actually charged moves whenever Prime moves, so the cost of carrying a balance changes without the issuer amending the agreement.
The annual fee is disclosed as waived for the first year. The recurring fee from year two is the number that matters over the life of the account.
Disclosed rates and fees
Every figure below was read from this issuer's filed agreement. Anything the filing does not state is left out of this table rather than shown as zero.
| Cash advance APR | 17.99% |
|---|---|
| Annual fee | $25 |
| Late payment fee | up to $25 |
| Cash advance fee | 1% of each transaction in U.S. dollars. |
| Balance transfer fee | Either $30.00 or 2% of each |
| Grace period | 25 days |
| Minimum interest charge | $0 |
Analysis
The Credit Card Addendum 07 13 2018 filing quotes margins over Prime instead of finished rates. What that leaves knowable — and what it does not — is the subject of this analysis.
What this filing discloses
What follows is drawn entirely from Southwest 66 Credit Union's CFPB filing for Credit Card Addendum 07 13 2018. The filing runs six pages.
The disclosure covers a cash advance rate, an annual fee line, a late payment maximum and a grace period. It is silent on a purchase rate, a balance transfer rate and a penalty rate.
These figures carry medium extraction confidence — they are reproduced as read from the filing, which remains the authority.
A margin over Prime, not a rate
What this agreement discloses is a set of margins added to the Prime Rate. Until Prime is supplied, none of these figures is an APR, and this page will not treat them as one.
The margins captured from the filing are 17.99 points for cash advances.
No cost illustration appears in this section for a reason: multiplying a margin by a balance produces a meaningless number. The real rate is Prime plus the margin, and Prime is not in this document.
The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.
Where the fees are
Holding the card costs $25 a year before any transaction takes place — about the 78th percentile among agreements in this index that state a fee.
The filing states the fee is waived for the first year, so the $25 is a second-year cost rather than an immediate one.
For cash advances the filing discloses a cash advance fee of 1%.
Transfers are charged $30 or 2% of the amount transferred, whichever is greater, though no distinct transfer APR appears in the document. Shifting $3,000 across attracts something like $60 in fees on day one.
Penalty pricing and late fees
On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.
The grace period
Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.
The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.
What the filing does not tell you
The disclosure parsed here does not state a purchase rate, a foreign transaction fee and 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.
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.
The document itself
This summary stands or falls on the linked PDF — six pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.
In short
The honest summary is that this filing discloses a structure rather than a price. The margins are real and comparable to each other; the cost of borrowing is whatever Prime makes it.
The source document
This page is a reading of one document: the cardholder agreement Southwest 66 Credit Union filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.
Applications are handled by Southwest 66 Credit Union, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Southwest 66 Credit Union
This is the only agreement from Southwest 66 Credit Union in the database with enough disclosed terms to publish. See the issuer's full filing list.
Where this card sits
Groups this agreement qualifies for, by its own disclosed terms:
Comparable cards from other issuers
Closest disclosed margin over Prime among cards in the same groups.