Solicitation Notice 2 1 2025 Non fillable doc

The Solicitation Notice 2 1 2025 Non fillable doc 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.

The disclosed terms

Summit Credit Union submitted the terms for Solicitation Notice 2 1 2025 Non fillable doc to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs three pages.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. It is silent on a penalty rate.

The filing bundles multiple products into one disclosure table. Any figure quoted here may describe a related card in the same filing, so the PDF should be read before treating these numbers as this card's own.

The promotional period

A 12-month promotional period at 0% is on the record here — during it, qualifying balances cost nothing to carry.

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 12.4% purchase rate. On $3,000 that is in the region of $396 a year once the window closes.

The promotional window is therefore worth something on the order of $396 on $3,000, measured against the same balance priced at the standard rate for the same period.

The purchase APR against the corpus

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.

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.

Translating the rate into money

The purchase rate turns a $1,200 revolving balance into roughly $158 of annual interest.

Measured against the 21.99% corpus median, the same $1,200 costs approximately $137 less per year here.

Month to month it reads as about $12.29 per cycle on that balance.

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

Fees, and what triggers them

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 fee of $3 and a cash advance APR of 12.4%.

Balance transfers cost $10 or 3% of the amount transferred, whichever is greater up front and then accrue at 12.4%. Transferring $5,000 would cost roughly $150 at the door.

The filing sets a 1% foreign transaction fee, which adds roughly $30 to $3,000 spent outside the United States.

When a payment is late

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

The grace period

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

The limits of this document

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.

The issuer's other agreements

There are 44 filings from Summit Credit Union in this index. Their disclosed purchase rates run from 12.4% to 20.9%, and this one at 12.4% is more expensive than 0 of them.

Where the authority sits

The original filing, 3 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

12.4% places this filing at the inexpensive end of the set, which is the headline here. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing. And because the filing covers several products in one table, even the figures that are right may belong to a different card.