2023 03 28 Credit Card Disclosure

2023 03 28 Credit Card Disclosure, as filed by University of Kentucky Federal Credit Union, carries a purchase APR of 11.99%–18%. That purchase rate ranks near the 34th percentile across this corpus of 4,587 filings.

On the face of the filing

What follows is drawn entirely from University of Kentucky Federal Credit Union's CFPB filing for 2023 03 28 Credit Card Disclosure. The filing runs two pages, and It is issued on the Visa network.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, a late payment maximum and a foreign transaction fee. A penalty rate and an annual fee line are not stated.

The purchase APR against the corpus

The purchase APR is quoted as a range of 11.99% to 18%. That 6.01-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Read against the index, the low end ranks around the 17th percentile and the high end around the 34th — the band straddles a wide stretch of the market this corpus describes.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

What a balance actually costs

Carry $5,000 on this card for a year without paying it down and the purchase rate alone generates roughly $986 in interest.

A typical filing in this index would charge about $1,229 on that balance; this one is roughly $244 a year below it.

Per statement cycle that is on the order of $74.50 on $5,000, which is the number that actually shows up on a bill.

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

Where the fees are

Cash advances carry a cash advance APR of 18%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 11.99%; no separate transfer fee was captured from the filing.

The filing sets a 1% foreign transaction fee, which adds roughly $15 to $1,500 spent outside the United States.

What a missed payment costs

On the fee side, a late payment can cost up to $29, which is around the 47th percentile here.

The grace period

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 University of Kentucky Federal Credit Union's filings

This is one of 20 University of Kentucky Federal Credit Union agreements collected here. Across that lineup purchase rates span 11.49% to 18%; this filing's 18% sits above 6 of the comparable ones.

What you cannot learn from the filing

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

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Go to the source

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

In short

The pricing here is middling by the standards of the index — 18% on purchases is near enough to typical.