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. That purchase rate ranks near the 9th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

Summit Credit Union filed this agreement for Solicitation Notice 2 1 2025 Non fillable doc with the Consumer Financial Protection Bureau. The filing runs three pages, and It is issued on the Visa network.

Terms captured from the document include a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. It is silent on a penalty rate.

This document discloses several products inside a single rate table. That means the numbers below are the ones the table contains, not necessarily the ones attached to this particular card — the filing itself is the only way to tell them apart.

The promotional period

The filing discloses a 0% introductory rate running 12 months. For that window, balances covered by the promotion accrue no interest at all.

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 $5,000 that is in the region of $660 a year once the window closes.

The promotional window is therefore worth something on the order of $660 on $5,000, measured against the same balance priced at the standard rate for the same period.

Pricing the purchase rate

Measured against every other filing on the site, 12.4% is about the 9th percentile for purchase APR; it falls in the low band of the corpus.

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.

This figure is the post-promotional rate. The introductory pricing is handled separately further down.

What a balance actually costs

A $1,500 balance left untouched for twelve months accrues about $198 in interest at this purchase rate.

A typical filing in this index would charge about $369 on that balance; this one is roughly $171 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

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

What the card costs before you borrow

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

For cash advances the filing discloses a cash advance fee of $3 and a cash advance APR of 12.4%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Moving a balance onto this card carries an up-front charge of $10 or 3% of the amount transferred, whichever is greater, with the transferred balance priced at 12.4%. On $1,000 that fee is about $30 before any interest is charged.

Spending abroad costs an extra 1% — about $10 on $1,000 of purchases, independent of interest.

Paying in full

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.

Against the rest of Summit Credit Union's filings

Summit Credit Union has 44 agreements indexed on this site. Across that lineup purchase rates span 12.4% to 20.9%; this filing's 12.4% sits above 0 of the comparable ones.

What is outside the disclosure

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

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.

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 12.4% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing. The multi-product table is the larger caveat: these numbers are the table's, not necessarily this card's.