Horizon Hobby Visa® Credit Card

First Electronic Bank's filed agreement for Horizon Hobby Visa┬« Credit Card discloses a purchase APR of 19.74%–34.99% and no annual fee. The purchase rate sits at roughly the 84th percentile of the 4,587 agreements indexed here.

On the face of the filing

This page covers the agreement First Electronic Bank filed for Horizon Hobby Visa® Credit Card. It is issued on the Visa network and the filing runs 18 pages.

The disclosure covers a purchase rate, an annual fee line, a late payment maximum and a grace period. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

Pricing the purchase rate

Rather than a single purchase rate, the document gives a band — 19.74% at the bottom, 34.99% at the top, 15.25 points wide. The agreement discloses the range without disclosing how an account is placed within it.

The floor of that band sits at about the 60th percentile of filed purchase rates; the ceiling sits at about the 84th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

The arithmetic of revolving

Carry $2,500 on this card for a year without paying it down and the purchase rate alone generates roughly $1,047 in interest.

On a median-priced agreement from this index (21.99%) the same $2,500 would run about $615 a year, so this card costs in the region of $432 more annually for the identical balance.

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.

Penalty pricing and late fees

On the fee side, a late payment can cost up to $35, which is around the 54th percentile here.

Charges beyond interest

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

Grace period and minimum charge

Purchases carry a 21-day grace period: pay the statement in full inside it and the purchase rate never applies. The typical filing here allows 25 days, so this one is tighter than most.

The issuer's other agreements

This is one of 23 First Electronic Bank agreements collected here. The issuer's own range is 29.49%–35.99%. At 34.99%, this agreement is dearer than 13 of its siblings.

12 of the issuer's other 18 disclosing filings are likewise fee-free.

What is outside the disclosure

This page cannot tell you anything about cash advances, balance transfer terms, a foreign transaction fee and penalty pricing, because the filing's disclosure table as read does not contain them.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Where the authority sits

The original filing, 18 pages 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

The defining fact about this filing is the purchase rate: at 34.99% it is in the expensive band of this corpus, and that cost only materialises for someone who revolves a balance.