CFPB Asd

Skyla Federal Credit Union's filed agreement for Cfpb Asd discloses a purchase APR of 7.9%–17.95%, no annual fee, a 0% opening rate and a 17.95% penalty rate. That purchase rate ranks near the 25th percentile across this corpus of 4,587 filings.

What this filing discloses

Skyla Federal Credit Union filed this agreement for Cfpb Asd 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 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.

What the promotional rate is worth

A 0% promotional rate appears in the document without an accompanying term — the length of the window is not captured.

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.

Behind the promotion sits a 17.95% purchase rate. On $1,000 that is in the region of $197 a year once the window closes.

The purchase rate in context

Rather than a single purchase rate, the document gives a band — 7.9% at the bottom, 17.95% at the top, 10.05 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Those two numbers occupy very different places in the corpus: roughly the 4th percentile at the bottom and the 25th 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.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

The cost of carrying a balance

A $2,500 balance left untouched for twelve months accrues about $491 in interest at this purchase rate.

The corpus median purchase rate is 21.99%, which on the same $2,500 would cost about $615 a year. This filing saves roughly $123 annually against that benchmark.

Broken down to a single thirty-day cycle, the same balance accrues roughly $37.15.

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

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

Taking cash against the card means a cash advance APR of 15.2%.

Transferred balances are priced at 7.9%; no separate transfer fee was captured from the filing.

Spending abroad costs an extra 1% — about $50 on $5,000 of purchases, independent of interest.

What a missed payment costs

If the account defaults, the filing permits a rate of 17.95%. Among disclosing agreements here that ranks near the 9th percentile.

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

Paying in full

The filing gives 28 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. The median across this index is 25 days, so this filing is more generous than most.

What you cannot learn from the filing

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.

The issuer's other agreements

9 separate Skyla Federal Credit Union filings appear in the corpus. Every one of the others that discloses a purchase rate discloses the same 17.95%, so the issuer's filings are near-identical on pricing and the differences between its cards lie outside the rate table.

Go to the source

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

The pricing here is middling by the standards of the index — 17.95% on purchases is near enough to typical. The multi-product table is the larger caveat: these numbers are the table's, not necessarily this card's.