Full credit card agreement 04

On the record for Full credit card agreement 04 2022: a purchase APR of 8.99%–16.99%, no annual fee and a 17.99% penalty rate, filed by Tropical Financial Credit Union. Against the 4,587 filings on this site, that rate lands around the 21st percentile.

What this filing discloses

Tropical Financial Credit Union submitted the terms for Full credit card agreement 04 2022 to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs eight pages.

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

The purchase APR against the corpus

The purchase APR is quoted as a range of 8.99% to 16.99%. That 8-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

The floor of that band sits at about the 7th percentile of filed purchase rates; the ceiling sits at about the 21st. In corpus terms the same card can be cheap or expensive depending on how it is priced.

Translating the rate into money

The purchase rate turns a $1,500 revolving balance into roughly $278 of annual interest.

Priced at the median of 21.99%, that balance would generate about $369 in a year — so this agreement comes in around $91 cheaper for the same debt.

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.

What the card costs before you borrow

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.

The filing sets a 1% foreign transaction fee, which adds roughly $15 to $1,500 spent outside the United States.

When a payment is late

If the account defaults, the filing permits a rate of 17.99%. Among disclosing agreements here that ranks near the 12th percentile.

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.

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

Absent from the captured terms: anything about cash advances and balance transfer terms. 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.

Against the rest of Tropical Financial Credit Union's filings

This is one of 11 Tropical Financial Credit Union agreements collected here. Their disclosed purchase rates run from 16.99% to 17.99%, and this one at 16.99% is more expensive than 0 of them.

The document itself

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

In short

16.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.