Full credit card agreement 10

On the record for Full credit card agreement 10 2023: a purchase APR of 8.99%–16.99%, no annual fee and a 17.99% penalty rate, filed by Tropical Financial Credit Union. The purchase rate sits at roughly the 21st percentile of the 4,587 agreements indexed here.

The disclosed terms

What follows is drawn entirely from Tropical Financial Credit Union's CFPB filing for Full credit card agreement 10 2023. The filing runs eight pages, and It is issued on the Mastercard network.

On the record here: a purchase rate, a penalty rate, an annual fee line, a late payment maximum and a foreign transaction fee. It is silent on a cash advance rate and a balance transfer rate.

How the purchase rate compares

Rather than a single purchase rate, the document gives a band — 8.99% at the bottom, 16.99% at the top, 8 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Those two numbers occupy very different places in the corpus: roughly the 7th percentile at the bottom and the 21st at the top.

The cost of carrying a balance

Put $4,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $741.

Measured against the 21.99% corpus median, the same $4,000 costs approximately $243 less per year here.

Month to month it reads as about $56.24 per cycle on that balance.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

Penalty pricing and late fees

A penalty APR of 17.99% 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 12th percentile.

On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.

What the card costs before you borrow

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

Foreign transactions attract 1%. On $2,000 of overseas spending that is $20, charged on top of whatever exchange rate applies.

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.

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

Tropical Financial Credit Union has 11 agreements indexed on this site. The issuer's own range is 16.99%–17.99%. At 16.99%, this agreement is dearer than 0 of its siblings.

The limits of this document

The disclosure parsed here does not state anything about cash advances and balance transfer terms. 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.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Where the authority sits

The original filing, 8 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 — 16.99% 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.