SMART Card Disclosure

On the record for SMART Card Disclosure 12 1 23: a purchase APR of 17.24%–20.99%, no annual fee and a 1.99% introductory rate, filed by Community Choice Credit Union. That purchase rate ranks near the 45th percentile across this corpus of 4,587 filings.

What this filing discloses

Community Choice Credit Union submitted the terms for SMART Card Disclosure 12 1 23 to the CFPB's agreement database; this is what they contain. The filing runs ten pages.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. A penalty rate is not stated.

This document discloses several products inside a single rate table. That means the numbers below are the ones the table contains, not necessarily the ones attached to this particular card — the filing itself is the only way to tell them apart.

Introductory pricing

The introductory rate is 1.99%, 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, 1.99% sits at about the 66th percentile.

What matters more than the promotion is the rate waiting behind it: 20.99%. A $2,500 balance that survives the promotional window costs roughly $584 a year from that point on.

Where the purchase APR sits

Rather than a single purchase rate, the document gives a band — 17.24% at the bottom, 20.99% at the top, 3.75 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Read against the index, the low end ranks around the 46th percentile and the high end around the 45th — 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.

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

What a balance actually costs

Put $4,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $934.

Priced at the median of 21.99%, that balance would generate about $983 in a year — so this agreement comes in around $50 cheaper for the same debt.

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.

Charges beyond interest

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.

Cash advances carry a cash advance fee of $5 or 3% of the advance, whichever is greater and a cash advance APR of 17.24%. Advances under roughly $167 are charged the flat $5; larger ones are charged 3%.

Balance transfers cost 2% of the amount transferred up front and then accrue at 17.24%. Shifting $3,000 across attracts something like $60 in fees on day one.

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

When a payment is late

The maximum late fee is $29 — roughly the 47th percentile of the late fee ceilings disclosed across this index.

The grace period

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

What you cannot learn from the filing

This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.

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.

Inside Community Choice Credit Union's filed lineup

This is one of 12 Community Choice Credit Union agreements collected here. Their disclosed purchase rates run from 8.74% to 20.99%, and this one at 20.99% is more expensive than 1 of them.

Where the authority sits

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

In short

At 20.99% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. And because the filing covers several products in one table, even the figures that are right may belong to a different card.