Before you read the numbers.
This agreement prices the card as the Prime Rate plus a margin rather than as a fixed APR. The figure shown is that margin in percentage points, not an APR. The rate actually charged moves whenever Prime moves, so the cost of carrying a balance changes without the issuer amending the agreement.
Disclosed rates and fees
Every figure below was read from this issuer's filed agreement. Anything the filing does not state is left out of this table rather than shown as zero.
| Annual fee | $0 |
|---|---|
| Late payment fee | up to $25 |
| Foreign transaction fee | 1% |
| Grace period | 21 days |
| Minimum interest charge | $0 |
| Network | Visa |
Analysis
The 16599 Schumer Sheet filing quotes margins over Prime instead of finished rates. What that leaves knowable — and what it does not — is the subject of this analysis.
The disclosed terms
This page covers the agreement Communityamerica Federal Credit Union filed for 16599 Schumer Sheet. The filing runs one page, and It is issued on the Visa network.
The disclosure covers an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. A purchase rate, a cash advance rate and a balance transfer rate are not stated.
Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.
Priced off the Prime Rate
The rate figures in this agreement are expressed as margins over the Prime Rate rather than as absolute APRs. A margin is not a rate: the rate is the margin plus whatever Prime happens to be.
No cost illustration appears in this section for a reason: multiplying a margin by a balance produces a meaningless number. The real rate is Prime plus the margin, and Prime is not in this document.
Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.
The fee structure
No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.
Foreign transactions attract 1%. On $5,000 of overseas spending that is $50, charged on top of whatever exchange rate applies.
The downside terms
Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.
Grace period and minimum charge
The filing gives 21 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That is shorter than the 25-day corpus median.
No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.
What the filing does not tell you
This page cannot tell you a purchase rate, anything about cash advances, balance transfer terms and penalty pricing, 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
The original filing, 1 page long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.
In short
Margins over Prime make this agreement legible but not priceable from the document alone. Treat the figures above as structure, and look up the current Prime Rate before drawing conclusions.
The source document
This page is a reading of one document: the cardholder agreement Communityamerica Federal Credit Union filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.
Applications are handled by Communityamerica Federal Credit Union, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Communityamerica Federal Credit Union
This is the only agreement from Communityamerica Federal Credit Union in the database with enough disclosed terms to publish. See the issuer's full filing list.
Where this card sits
Groups this agreement qualifies for, by its own disclosed terms:
Comparable cards from other issuers
Closest disclosed margin over Prime among cards in the same groups.