Application and Solicitation Disclosure

Application and Solicitation Disclosure 5 8 2024, as filed by Kirtland Federal Credit Union, carries a purchase APR of 11%–17.75% and a 12-month 0% opening period. The purchase rate sits at roughly the 23rd percentile of the 4,587 agreements indexed here.

What the document actually states

Kirtland Federal Credit Union filed this agreement for Application and Solicitation Disclosure 5 8 2024 with the Consumer Financial Protection Bureau. The filing runs three pages, and It is issued on the Visa network.

The disclosure covers 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.

One important caveat sits on top of everything else here: the rate table in this filing covers more than one product. Figures shown on this page may belong to a sibling card in the same table rather than to this one, and only the PDF can settle which row applies.

The interest-free window

The filing discloses a 0% introductory rate running 12 months. For that window, balances covered by the promotion accrue no interest at all.

Roughly 458 of the 4,587 filings indexed here disclose a zero-percent introductory rate, so this is a real feature of the document but not a rare one.

Once the introductory period ends the rate becomes 17.75%, which turns a lingering $2,500 balance into approximately $485 of annual interest.

Valued honestly, 12 months at zero on $2,500 avoids about $485 of interest compared with the go-to rate — the whole of what the promotion delivers.

Pricing the purchase rate

The purchase APR is quoted as a range of 11% to 17.75%. That 6.75-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Read against the index, the low end ranks around the 15th percentile and the high end around the 23rd — the band straddles a wide stretch of the market this corpus describes.

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.

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

The arithmetic of revolving

The purchase rate turns a $2,000 revolving balance into roughly $388 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $103 annually against that benchmark.

Note the $0.50 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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

When a payment is late

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.

The fee structure

Cash advances carry a cash advance fee of $3 or 1% of the advance, whichever is greater and a cash advance APR of 11%. 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.

Transferred balances are priced at 11%; 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.

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.

A minimum interest charge of $0.50 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

The issuer's other agreements

Kirtland Federal Credit Union has 13 agreements indexed on this site. Their disclosed purchase rates run from 12.75% to 17.75%, and this one at 17.75% is more expensive than 9 of them.

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.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Where the authority sits

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

In short

17.75% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. And because the filing covers several products in one table, even the figures that are right may belong to a different card.