Full credit card agreement and disclosures

On the record for Full credit card agreement and disclosures: no annual fee and a 17.99% penalty rate, filed by Tropical Financial Credit Union.

The disclosed terms

Tropical Financial Credit Union submitted the terms for Full credit card agreement and disclosures to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs eight pages.

The disclosure covers a penalty rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. A purchase rate, a cash advance rate and a balance transfer rate are not stated.

Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.

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.

Spending abroad costs an extra 1% — about $50 on $5,000 of purchases, independent of interest.

The downside terms

The agreement discloses penalty pricing of 17.99% — about the 12th percentile of the 794 penalty rates recorded across this index.

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

Grace period and minimum charge

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. 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.

The issuer's other agreements

Tropical Financial Credit Union has 11 agreements indexed on this site. Their disclosed purchase rates run from 16.99% to 17.99%, though this particular filing does not state one in comparable form.

The limits of this document

The disclosure parsed here does not state a purchase rate, 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.

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.

The document itself

This summary stands or falls on the linked PDF — eight pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

All of this rests on figures read from the filing with less than full confidence, which is reason enough to check the document before relying on any of it.