Full credit card agreement 04

Tropical Financial Credit Union's filed agreement for Full credit card agreement 04 2023 discloses a purchase APR of 8.99%–16.99%, no annual fee and a 17.99% penalty rate. That purchase rate ranks near the 21st percentile across this corpus of 4,587 filings.

What this filing discloses

The document behind this page is Tropical Financial Credit Union's filed agreement for Full credit card agreement 04 2023. It is issued on the Mastercard network and the filing runs eight pages.

Terms captured from the document include 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.

Where the purchase APR sits

Rather than a single purchase rate, the document gives a band — 8.99% at the bottom, 16.99% at the top, 8 points wide. The agreement discloses the range without disclosing how an account is placed within it.

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.

The arithmetic of revolving

Put $1,200 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $222.

The corpus median purchase rate is 21.99%, which on the same $1,200 would cost about $295 a year. This filing saves roughly $73 annually against that benchmark.

Month to month it reads as about $16.87 per cycle on that balance.

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.

Where the fees are

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.

Paying in full

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

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

When a payment is late

The agreement discloses penalty pricing of 17.99% — about the 12th percentile of the 794 penalty rates recorded across this index.

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

The issuer's other agreements

There are 11 filings from Tropical Financial Credit Union in this index. Their disclosed purchase rates run from 16.99% to 17.99%, and this one at 16.99% is more expensive than 0 of them.

What the filing does not tell you

The disclosure parsed here does not state anything about cash advances and balance transfer terms. 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.

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.

Where the authority sits

The original filing, 8 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

The pricing here is middling by the standards of the index — 16.99% on purchases is near enough to typical. The absence of an annual fee means the rate is the only thing that can make this card expensive.