Jan 2023 CC Application and Solicitation Disclosure

The Jan 2023 CC Application and Solicitation Disclosure filing from University of Kentucky Federal Credit Union sets out a purchase APR of 10.99%–18%. Against the 4,587 filings on this site, that rate lands around the 34th percentile.

What the document actually states

University of Kentucky Federal Credit Union filed this agreement for Jan 2023 CC Application and Solicitation Disclosure with the Consumer Financial Protection Bureau. The filing runs two pages, and It is issued on the Visa network.

The disclosure covers 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

Purchases price between 10.99% and 18% under this filing. The 7.01-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

Those two numbers occupy very different places in the corpus: roughly the 14th percentile at the bottom and the 34th at the top.

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

The arithmetic of revolving

The purchase rate turns a $5,000 revolving balance into roughly $986 of annual interest.

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

Broken down to a single thirty-day cycle, the same balance accrues roughly $74.50.

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.

Fees, and what triggers them

For cash advances the filing discloses a cash advance APR of 18%.

Transferred balances are priced at 10.99%; no separate transfer fee was captured from the filing.

Foreign transactions attract 1%. On $3,000 of overseas spending that is $30, charged on top of whatever exchange rate applies.

Penalty pricing and late fees

$29 is the disclosed ceiling on a late payment fee, placing it near the 47th percentile of the set.

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.

How it sits in the issuer's own range

University of Kentucky Federal Credit Union has 20 agreements indexed on this site. The issuer's own range is 11.49%–18%. At 18%, this agreement is dearer than 6 of its siblings.

What the filing does not tell you

The disclosure parsed here does not state an annual 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.

The document itself

The filed PDF is linked from this page and runs two pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

18% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.