NEW App & Solicitation Disclosure

The NEW App & Solicitation Disclosure filing from Erie Federal Credit Union sets out a purchase APR of 8.9%–17.9% and a 2.99% introductory rate. That purchase rate ranks near the 24th percentile across this corpus of 4,587 filings.

What the document actually states

Erie Federal Credit Union filed this agreement for NEW App & Solicitation Disclosure with the Consumer Financial Protection Bureau. It is issued on the Mastercard network and the filing runs two pages.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, a late payment maximum and a foreign transaction fee. A penalty rate and an annual fee line are not stated.

Introductory pricing

For the first six months the filing sets a reduced rate of 2.99%. Balances still cost something during that window.

Among the 763 filings here that disclose an introductory rate, 2.99% sits at about the 79th percentile.

What matters more than the promotion is the rate waiting behind it: 17.9%. A $1,000 balance that survives the promotional window costs roughly $196 a year from that point on.

The purchase APR against the corpus

Purchases price between 8.9% and 17.9% under this filing. The 9-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

Read against the index, the low end ranks around the 6th percentile and the high end around the 24th — the band straddles a wide stretch of the market this corpus describes.

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

The arithmetic of revolving

Carry $2,500 on this card for a year without paying it down and the purchase rate alone generates roughly $490 in interest.

Priced at the median of 21.99%, that balance would generate about $615 in a year — so this agreement comes in around $125 cheaper for the same debt.

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.

The fee structure

For cash advances the filing discloses a cash advance APR of 8.9%. 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.

The filing discloses a 8.9% balance transfer rate without an accompanying fee figure.

The filing sets a 1% foreign transaction fee, which adds roughly $10 to $1,000 spent outside the United States.

Penalty pricing and late fees

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

The no-interest path

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That matches the 25-day median across the corpus almost exactly.

The limits of this document

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

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 Erie Federal Credit Union's filings

7 separate Erie Federal Credit Union filings appear in the corpus. The issuer's own range is 15.9%–17.9%. At 17.9%, this agreement is dearer than 3 of its siblings.

Where the authority sits

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

In short

At 17.9% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.