Solicitation Notice 2 1 2025 Non fillable doc

The Solicitation Notice 2 1 2025 Non fillable doc filing from Summit Credit Union sets out a 12.4% purchase APR, no annual fee and a 12-month 0% opening period. The purchase rate sits at roughly the 9th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

What follows is drawn entirely from Summit Credit Union's CFPB filing for Solicitation Notice 2 1 2025 Non fillable doc. It is issued on the Visa network and the filing runs three pages.

The disclosure covers 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.

Zero percent, and then what

A 12-month promotional period at 0% is on the record here — during it, qualifying balances cost nothing to carry.

Roughly 458 of the 4,587 filings indexed here disclose a zero-percent introductory rate, so this is a real feature of the document but not a rare one.

Behind the promotion sits a 12.4% purchase rate. On $2,000 that is in the region of $264 a year once the window closes.

Valued honestly, 12 months at zero on $2,000 avoids about $264 of interest compared with the go-to rate — the whole of what the promotion delivers.

Where the purchase APR sits

At 12.4%, the purchase APR falls at roughly the 9th percentile of the 2,280 filings indexed here, which sits well down in the cheaper fifth of the set.

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.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

The arithmetic of revolving

A $1,200 balance left untouched for twelve months accrues about $158 in interest at this purchase rate.

Priced at the median of 21.99%, that balance would generate about $295 in a year — so this agreement comes in around $137 cheaper for the same debt.

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

Penalty pricing and late fees

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 fee of $3 and a cash advance APR of 12.4%. 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 $10 or 3% of the amount transferred, whichever is greater; transferred balances then run at 12.4%. On $3,000 that fee is about $90 before any interest is charged.

Foreign transactions attract 1%. On $5,000 of overseas spending that is $50, charged on top of whatever exchange rate applies.

The no-interest path

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

Inside Summit Credit Union's filed lineup

This is one of 44 Summit Credit Union agreements collected here. The issuer's own range is 12.4%–20.9%. At 12.4%, this agreement is dearer than 0 of its siblings.

The limits of this document

This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Go to the source

The filed PDF is linked from this page and runs three pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

At 12.4% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost. The absence of an annual fee means the rate is the only thing that can make this card expensive. The multi-product table is the larger caveat: these numbers are the table's, not necessarily this card's.