Credit Card Application

Credit Card Application, as filed by 1st Community Federal Credit Union, carries a purchase APR of 10.95%–17.95%, no annual fee and a 2.95% introductory rate. Against the 4,587 filings on this site, that rate lands around the 25th percentile.

On the face of the filing

What follows is drawn entirely from 1st Community Federal Credit Union's CFPB filing for Credit Card Application. The filing runs two pages.

The filing is explicit about a purchase rate, an annual fee line, a late payment maximum and a grace period. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.

What the promotional rate is worth

The introductory rate is 2.95%, held for 12 months. It is a discount rather than a holiday — interest still accrues, just more slowly than the go-to rate.

Among the 763 filings here that disclose an introductory rate, 2.95% sits at about the 75th percentile.

Behind the promotion sits a 17.95% purchase rate. On $5,000 that is in the region of $983 a year once the window closes.

The purchase APR against the corpus

Rather than a single purchase rate, the document gives a band — 10.95% at the bottom, 17.95% at the top, 7 points wide. The agreement discloses the range without disclosing how an account is placed within it.

The floor of that band sits at about the 14th percentile of filed purchase rates; the ceiling sits at about the 25th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

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

The arithmetic of revolving

The purchase rate turns a $5,000 revolving balance into roughly $983 of annual interest.

Priced at the median of 21.99%, that balance would generate about $1,229 in a year — so this agreement comes in around $247 cheaper for the same debt.

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

The fee structure

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.

What a missed payment costs

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.

The no-interest path

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

The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.

What the filing does not tell you

This page cannot tell you anything about cash advances, balance transfer terms, a foreign transaction fee and penalty pricing, because the filing's disclosure table as read does not contain them.

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

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 — 17.95% on purchases is near enough to typical.