Credit Agmt Disclosure

On the record for Combined4020 Credit Agmt Disclosure 20230308: a purchase APR of 15.4%–17.4%, no annual fee and a six-month 0% opening period, filed by Hawaii State Federal Credit Union. That purchase rate ranks near the 22nd percentile across this corpus of 4,587 filings.

What the document actually states

What follows is drawn entirely from Hawaii State Federal Credit Union's CFPB filing for Combined4020 Credit Agmt Disclosure 20230308. The filing runs 14 pages, and It is issued on the Visa network.

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

Zero percent, and then what

This agreement opens at 0% for six months, the only period in the document where carrying a balance is free.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

What matters more than the promotion is the rate waiting behind it: 17.4%. A $2,500 balance that survives the promotional window costs roughly $475 a year from that point on.

Put the other way round, the six-month zero rate is worth roughly $238 on a $2,500 balance relative to paying the go-to rate from day one — a real figure, but one that only materialises for someone who was going to carry that balance anyway.

The purchase APR against the corpus

The purchase APR is quoted as a range of 15.4% to 17.4%. That 2-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

The floor of that band sits at about the 36th percentile of filed purchase rates; the ceiling sits at about the 22nd. In corpus terms the same card can be cheap or expensive depending on how it is priced.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

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

What the rate means in dollars

Put $4,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $760.

Measured against the 21.99% corpus median, the same $4,000 costs approximately $223 less per year here.

Month to month it reads as about $57.60 per cycle on that balance.

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

The grace period

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.

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

When a payment is late

$28 is the disclosed ceiling on a late payment fee, placing it near the 46th percentile of the set.

Where the fees are

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

Transferred balances are priced at 15.4%; no separate transfer fee was captured from the filing.

The issuer's other agreements

5 separate Hawaii State Federal Credit Union filings appear in the corpus. Their disclosed purchase rates run from 14.9% to 18%, and this one at 17.4% is more expensive than 1 of them.

The limits of this document

The disclosure parsed here does not state a foreign transaction fee and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

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

Everything here is a reading of the filed agreement, 14 pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

At 17.4% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. The absence of an annual fee means the rate is the only thing that can make this card expensive.