Credit Card

The Credit Card filing from Cornerstone Community Federal Credit Union sets out a 8.9% purchase APR and a 14.9% penalty rate. Against the 4,587 filings on this site, that rate lands around the 3rd percentile.

What the document actually states

What follows is drawn entirely from Cornerstone Community Federal Credit Union's CFPB filing for Credit Card. 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. An annual fee line is not stated.

Where the purchase APR sits

8.9% puts the purchase APR near the 3rd percentile across 2,280 agreements, so it is among the very cheapest figures in the whole set.

The arithmetic of revolving

At the disclosed purchase APR, $2,000 revolving for a full year costs something like $186 in interest.

Priced at the median of 21.99%, that balance would generate about $492 in a year — so this agreement comes in around $306 cheaper for the same debt.

Per statement cycle that is on the order of $14.68 on $2,000, which is the number that actually shows up on a bill.

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

Where the fees are

Cash advances carry a cash advance APR of 9.9%. 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 9.9%; no separate transfer fee was captured from the filing.

Spending abroad costs an extra 1% — about $15 on $1,500 of purchases, independent of interest.

When a payment is late

A penalty APR of 14.9% 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 4th percentile.

The jump from 8.9% to 14.9% is 6 percentage points, worth roughly $135 extra per year on $2,000 of balance.

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

Grace period and minimum charge

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

The limits of this document

Absent from the captured terms: an annual fee. The original document is the place to look for any of these.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Against the rest of Cornerstone Community Federal Credit Union's filings

There are 14 filings from Cornerstone Community Federal Credit Union in this index. Across that lineup purchase rates span 7.9% to 9.9%; this filing's 8.9% sits above 3 of the comparable ones.

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

The purchase rate of 8.9% is one of the cheaper figures in this index — the central point in the agreement's favour.