Credit Card

On the record for Credit Card: a 9.9% purchase APR and a 14.9% penalty rate, filed by Cornerstone Community Federal Credit Union. Against the 4,587 filings on this site, that rate lands around the 5th percentile.

What this filing discloses

Cornerstone Community Federal Credit Union filed this agreement for Credit Card 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 penalty rate and a late payment maximum. It is silent on an annual fee line.

How the purchase rate compares

Measured against every other filing on the site, 9.9% is about the 5th percentile for purchase APR; it is lower than almost every other agreement here.

The arithmetic of revolving

At the disclosed purchase APR, $1,200 revolving for a full year costs something like $125 in interest.

The corpus median purchase rate is 21.99%, which on the same $1,200 would cost about $295 a year. This filing saves roughly $170 annually against that benchmark.

Month to month it reads as about $9.80 per cycle on that balance.

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

Default pricing

The agreement discloses penalty pricing of 14.9% — about the 4th percentile of the 794 penalty rates recorded across this index.

Measured in money, moving from 9.9% to 14.9% costs an extra $170 or so annually on $3,000 — a far larger number than any single late fee.

On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.

Where the fees are

For cash advances the filing discloses a cash advance APR of 10.9%. That is 1 points above the purchase rate. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

Transferred balances are priced at 10.9%; 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.

The no-interest path

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.

Inside Cornerstone Community Federal Credit Union's filed lineup

14 separate Cornerstone Community Federal Credit Union filings appear in the corpus. The issuer's own range is 7.9%–9.9%. At 9.9%, this agreement is dearer than 5 of its siblings.

What you cannot learn from the filing

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

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Where the authority sits

Everything here is a reading of the filed agreement, two pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

9.9% places this filing at the inexpensive end of the set, which is the headline here.