07 19 2023 Loan Liner Signature disclosure FINAL

The 07 19 2023 Loan Liner Signature disclosure FINAL filing from Lansing Automakers Federal Credit Union sets out a 19.74% purchase APR, no annual fee and a 2.99% introductory rate. Against the 4,587 filings on this site, that rate lands around the 41st percentile.

On the face of the filing

The document behind this page is Lansing Automakers Federal Credit Union's filed agreement for 07 19 2023 Loan Liner Signature disclosure FINAL. The filing runs two pages, and It is issued on the Visa network.

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

Introductory pricing

A promotional rate of 2.99% applies for 12 months under this agreement — lower than the standard rate, but not free.

Among the 763 filings here that disclose an introductory rate, 2.99% sits at about the 79th percentile.

The go-to rate is 19.74%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $436 a year on $2,000.

Where the purchase APR sits

19.74% puts the purchase APR near the 41st percentile across 2,280 agreements, so it lands near the median.

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.

What the rate means in dollars

The purchase rate turns a $1,000 revolving balance into roughly $218 of annual interest.

Measured against the 21.99% corpus median, the same $1,000 costs approximately $28 less per year here.

Per statement cycle that is on the order of $16.35 on $1,000, which is the number that actually shows up on a bill.

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.

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.

Taking cash against the card means a cash advance APR of 19.74%.

Transferred balances are priced at 19.74%; no separate transfer fee was captured from the filing.

Spending abroad costs an extra 1% — about $10 on $1,000 of purchases, independent of interest.

When a payment is late

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

The grace period

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

What you cannot learn from the filing

Absent from the captured terms: penalty pricing. The original document is the place to look for any of these.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Inside Lansing Automakers Federal Credit Union's filed lineup

Lansing Automakers Federal Credit Union has 17 agreements indexed on this site. The issuer's own range is 19.74%–22.74%. At 19.74%, this agreement is dearer than 0 of its siblings.

Go to the source

This summary stands or falls on the linked PDF — two pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

The pricing here is middling by the standards of the index — 19.74% on purchases is near enough to typical. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.