Solicitation Notice

Solicitation Notice 9 1 2023, as filed by Summit Credit Union, carries no annual fee.

The disclosed terms

What follows is drawn entirely from Summit Credit Union's CFPB filing for Solicitation Notice 9 1 2023. The filing runs three pages, and It is issued on the Visa network.

On the record here: 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.

Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.

Default pricing

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

Fees, and what triggers them

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 fee of $3.

Transfers are charged $10 or 3% of the amount transferred, whichever is greater, though no distinct transfer APR appears in the document. Transferring $7,500 would cost roughly $225 at the door.

Spending abroad costs an extra 1% — about $15 on $1,500 of purchases, independent of interest.

Grace period and minimum charge

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.

Inside Summit Credit Union's filed lineup

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

The limits of this document

The disclosure parsed here does not state a purchase rate and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

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.

Go to the source

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

In short

Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.