Tower CC Agrmnt and Pricing Addndm eff

Tower Federal Credit Union's filed agreement for Tower CC Agrmnt and Pricing Addndm eff 4 1 25 discloses a purchase APR of 15.24%–17.99%, no annual fee and a 1.99% introductory rate. The purchase rate sits at roughly the 28th percentile of the 4,587 agreements indexed here.

What the document actually states

Tower Federal Credit Union submitted the terms for Tower CC Agrmnt and Pricing Addndm eff 4 1 25 to the CFPB's agreement database; this is what they contain. The filing runs seven 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 and a foreign transaction fee are not stated.

The filing bundles multiple products into one disclosure table. Any figure quoted here may describe a related card in the same filing, so the PDF should be read before treating these numbers as this card's own.

Introductory pricing

For the first 12 months the filing sets a reduced rate of 1.99%. Balances still cost something during that window.

Among the 763 filings here that disclose an introductory rate, 1.99% sits at about the 66th percentile.

Once the introductory period ends the rate becomes 17.99%, which turns a lingering $2,000 balance into approximately $394 of annual interest.

The purchase APR against the corpus

The purchase APR is quoted as a range of 15.24% to 17.99%. That 2.75-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 35th percentile at the bottom and the 28th at the top.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

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

What a balance actually costs

Put $2,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $394.

A typical filing in this index would charge about $492 on that balance; this one is roughly $98 a year below it.

Month to month it reads as about $29.78 per cycle on that balance.

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

What a missed payment costs

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

The fee structure

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.

Taking cash against the card means a cash advance fee of 2% and a cash advance APR of 15.24%.

The filing discloses a 15.24% balance transfer rate without an accompanying fee figure.

Paying in full

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

How it sits in the issuer's own range

Tower Federal Credit Union has 4 agreements indexed on this site. Every one of the others that discloses a purchase rate discloses the same 17.99%, so the issuer's filings are near-identical on pricing and the differences between its cards lie outside the rate table.

What you cannot learn from the filing

The disclosure parsed here does not state 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.

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.

Where the authority sits

The original filing, 7 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

The pricing here is middling by the standards of the index — 17.99% on purchases is near enough to typical. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing. And because the filing covers several products in one table, even the figures that are right may belong to a different card.