Solicitation Notice

On the record for Solicitation Notice 4 1 2022: no annual fee, filed by Summit Credit Union.

On the face of the filing

This page covers the agreement Summit Credit Union filed for Solicitation Notice 4 1 2022. The filing runs three pages, and It is issued on the Visa network.

Terms captured from the document include an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. It is silent on a purchase rate, a cash advance rate and a balance transfer rate.

These figures carry medium extraction confidence — they are reproduced as read from the filing, which remains the authority.

Charges beyond interest

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.

Cash advances carry a cash advance fee of $3.

A balance transfer costs $10 or 3% of the amount transferred, whichever is greater up front. The filing does not separately state the rate applied to transferred balances. Transferring $2,000 would cost roughly $60 at the door.

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

The downside terms

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

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

The limits of this document

This page cannot tell you a purchase rate and penalty pricing, because the filing's disclosure table as read does not contain them.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

How it sits in the issuer's own range

There are 44 filings from Summit Credit Union in this index. Their disclosed purchase rates run from 12.4% to 20.9%, though this particular filing does not state one in comparable form.

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

All of this rests on figures read from the filing with less than full confidence, which is reason enough to check the document before relying on any of it.