Application and Solicitation Disclosure (All Visas)

The Application and Solicitation Disclosure (All Visas) filing from Coastal Federal Credit Union sets out a purchase APR of 7.5%–13.75%, a 40% introductory rate and a 18% penalty rate. Against the 4,587 filings on this site, that rate lands around the 11th percentile.

What the agreement puts on the record

Coastal Federal Credit Union submitted the terms for Application and Solicitation Disclosure (All Visas) to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs three pages.

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

The introductory rate

For the first 48 months the filing sets a reduced rate of 40%. Balances still cost something during that window.

Among the 763 filings here that disclose an introductory rate, 40% sits at about the 100th percentile.

What matters more than the promotion is the rate waiting behind it: 13.75%. A $5,000 balance that survives the promotional window costs roughly $737 a year from that point on.

How the purchase rate compares

This is a tiered agreement: the filing discloses a purchase APR anywhere from 7.5% to 13.75%, a spread of 6.25 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

Those two numbers occupy very different places in the corpus: roughly the 4th percentile at the bottom and the 11th at the top.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

The arithmetic of revolving

At the disclosed purchase APR, $2,500 revolving for a full year costs something like $368 in interest.

A typical filing in this index would charge about $615 on that balance; this one is roughly $246 a year below it.

Month to month it reads as about $28.41 per cycle on that balance.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

What the card costs before you borrow

Transferred balances are priced at 7.5%; no separate transfer fee was captured from the filing.

Default pricing

A penalty APR of 18% 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 19th percentile.

Measured in money, moving from 13.75% to 18% costs an extra $100 or so annually on $2,000 — a far larger number than any single late fee.

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

The grace period

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

Inside Coastal Federal Credit Union's filed lineup

Coastal Federal Credit Union has 7 agreements indexed on this site.

The limits of this document

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

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Go to the source

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

In short

The purchase rate of 13.75% is one of the cheaper figures in this index — the central point in the agreement's favour.