application solicitation disclosure (10 28 2022)

Kirtland Federal Credit Union's filed agreement for application solicitation disclosure (10 28 2022) discloses a purchase APR of 8.75%–15.5% and a six-month 0% opening period. That purchase rate ranks near the 16th percentile across this corpus of 4,587 filings.

What the document actually states

Kirtland Federal Credit Union filed this agreement for application solicitation disclosure (10 28 2022) with the Consumer Financial Protection Bureau. The filing runs four pages, and It is issued on the Visa network.

On the record here: 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.

This document discloses several products inside a single rate table. That means the numbers below are the ones the table contains, not necessarily the ones attached to this particular card — the filing itself is the only way to tell them apart.

Zero percent, and then what

A six-month promotional period at 0% is on the record here — during it, qualifying balances cost nothing to carry.

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: 15.5%. A $2,500 balance that survives the promotional window costs roughly $419 a year from that point on.

The promotional window is therefore worth something on the order of $210 on $2,500, measured against the same balance priced at the standard rate for the same period.

The purchase rate in context

Purchases price between 8.75% and 15.5% under this filing. The 6.75-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

Those two numbers occupy very different places in the corpus: roughly the 5th percentile at the bottom and the 16th at the top.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

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

Translating the rate into money

The purchase rate turns a $5,000 revolving balance into roughly $838 of annual interest.

Priced at the median of 21.99%, that balance would generate about $1,229 in a year — so this agreement comes in around $391 cheaper for the same debt.

Broken down to a single thirty-day cycle, the same balance accrues roughly $64.09.

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

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

What the card costs before you borrow

Taking cash against the card means a cash advance fee of $3 or 1% of the advance, whichever is greater and a cash advance APR of 8.75%. $300 is the crossover point where the percentage overtakes the $3 minimum.

Transferred balances are priced at 8.75%; no separate transfer fee was captured from the filing.

No foreign transaction fee is charged, which puts this filing in the roughly 22% of disclosing agreements here that do not take a cut of overseas spending.

Paying in full

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.

Where interest applies at all, the filing bills at least $0.50. On a tiny balance that floor can dwarf the rate itself.

What a missed payment costs

On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.

How it sits in the issuer's own range

There are 13 filings from Kirtland Federal Credit Union in this index. The issuer's own range is 12.75%–17.75%. At 15.5%, this agreement is dearer than 2 of its siblings.

What the filing does not tell you

This page cannot tell you an annual fee and penalty pricing, because the filing's disclosure table as read does not contain them.

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.

Go to the source

The original filing, 4 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

15.5% places this filing at the inexpensive end of the set, which is the headline here. And because the filing covers several products in one table, even the figures that are right may belong to a different card.