Secured App & Solicitation Disclosure

The Secured App & Solicitation Disclosure filing from Erie Federal Credit Union sets out a 15.9% purchase APR. That purchase rate ranks near the 17th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

This page covers the agreement Erie Federal Credit Union filed for Secured App & Solicitation Disclosure. It is issued on the Mastercard network and the filing runs two pages.

Terms captured from the document include a purchase rate, a cash advance rate, a balance transfer rate, a late payment maximum and a foreign transaction fee. No figure appears for a penalty rate and an annual fee line.

What "secured" changes

Secured cards work against a deposit held by the issuer. The rate and fee figures summarised here say nothing about the size of that deposit or the terms attached to it, both of which are matters for the agreement text itself.

Securing the line has not placed this agreement at the bottom of the market — 15.9% ranks near the 17th percentile across every filing indexed here.

How the purchase rate compares

Ranked against the corpus, this purchase APR — 15.9% — sits at approximately the 17th percentile and sits well down in the cheaper fifth of the set.

Translating the rate into money

Put $1,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $258.

The corpus median purchase rate is 21.99%, which on the same $1,500 would cost about $369 a year. This filing saves roughly $110 annually against that benchmark.

Broken down to a single thirty-day cycle, the same balance accrues roughly $19.73.

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

Fees, and what triggers them

Cash advances carry a cash advance APR of 15.9%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

The filing discloses a 15.9% balance transfer rate without an accompanying fee figure.

Spending abroad costs an extra 1% — about $20 on $2,000 of purchases, independent of interest.

Default pricing

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

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

What you cannot learn from the filing

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

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.

Against the rest of Erie Federal Credit Union's filings

Erie Federal Credit Union has 7 agreements indexed on this site. Across that lineup purchase rates span 15.9% to 17.9%; this filing's 15.9% sits above 0 of the comparable ones.

The document itself

This summary stands or falls on the linked PDF — two pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

15.9% places this filing at the inexpensive end of the set, which is the headline here.