Credit Card Disclosures 4Qtr

Founders Federal Credit Union's filed agreement for Credit Card Disclosures 4Qtr 2024 discloses a 13.5% purchase APR, no annual fee and a 17.9% penalty rate. That purchase rate ranks near the 11th percentile across this corpus of 4,587 filings.

What this filing discloses

Founders Federal Credit Union filed this agreement for Credit Card Disclosures 4Qtr 2024 with the Consumer Financial Protection Bureau. The filing runs six pages.

On the record here: a purchase rate, a balance transfer rate, a penalty rate, an annual fee line and a late payment maximum. It is silent on a cash advance rate.

Where the purchase APR sits

At 13.5%, the purchase APR falls at roughly the 11th percentile of the 2,280 filings indexed here, which sits well down in the cheaper fifth of the set.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

The cost of carrying a balance

At the disclosed purchase APR, $3,000 revolving for a full year costs something like $434 in interest.

Measured against the 21.99% corpus median, the same $3,000 costs approximately $304 less per year here.

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.

Where the fees are

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.

Transferred balances are priced at 6%; no separate transfer fee was captured from the filing.

The foreign transaction fee is zero — a minority position in this corpus, where roughly 22% of disclosing filings waive it.

What a missed payment costs

The agreement discloses penalty pricing of 17.9% — about the 8th percentile of the 794 penalty rates recorded across this index.

Measured in money, moving from 13.5% to 17.9% costs an extra $51 or so annually on $1,000 — a far larger number than any single late fee.

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

Grace period and minimum charge

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

Inside Founders Federal Credit Union's filed lineup

Founders Federal Credit Union has 17 agreements indexed on this site. Their disclosed purchase rates run from 12.5% to 14.75%, and this one at 13.5% is more expensive than 1 of them.

The limits of this document

This page cannot tell you anything about cash advances, 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.

Reading the agreement yourself

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

In short

At 13.5% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.