Solicitation Notice 12 1 2025 non fillable

The Solicitation Notice 12 1 2025 non fillable filing from Summit Credit Union sets out a 12.4% purchase APR, no annual fee and a 12-month 0% opening period. The purchase rate sits at roughly the 9th percentile of the 4,587 agreements indexed here.

What this filing discloses

Summit Credit Union submitted the terms for Solicitation Notice 12 1 2025 non fillable to the CFPB's agreement database; this is what they contain. The filing runs three pages, and It is issued on the Visa network.

The filing is explicit about 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.

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.

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

Behind the promotion sits a 12.4% purchase rate. On $5,000 that is in the region of $660 a year once the window closes.

The promotional window is therefore worth something on the order of $660 on $5,000, measured against the same balance priced at the standard rate for the same period.

Where the purchase APR sits

Ranked against the corpus, this purchase APR — 12.4% — sits at approximately the 9th percentile and reads as inexpensive against the rest of the filings.

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

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.

What the rate means in dollars

Put $2,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $330.

The corpus median purchase rate is 21.99%, which on the same $2,500 would cost about $615 a year. This filing saves roughly $285 annually against that benchmark.

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.

Fees, and what triggers them

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

For cash advances the filing discloses a cash advance fee of $3 and a cash advance APR of 12.4%.

Moving a balance onto this card carries an up-front charge of $10 or 3% of the amount transferred, whichever is greater, with the transferred balance priced at 12.4%. Transferring $1,000 would cost roughly $30 at the door.

Foreign transactions attract 1%. On $2,000 of overseas spending that is $20, charged on top of whatever exchange rate applies.

Default pricing

The maximum late fee is $25 — roughly the 32nd percentile of the late fee ceilings disclosed across this index.

The grace period

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

Against the rest of Summit Credit Union's filings

There are 44 filings from Summit Credit Union in this index. Across that lineup purchase rates span 12.4% to 20.9%; this filing's 12.4% sits above 0 of the comparable ones.

What is outside the disclosure

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

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.

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 purchase rate of 12.4% is one of the cheaper figures in this index — the central point in the agreement's favour. With no annual fee, the cost of the account is entirely a function of whether a balance is carried. And because the filing covers several products in one table, even the figures that are right may belong to a different card.