App Sol Disc

University of Kentucky Federal Credit Union's filed agreement for App Sol Disc 07052022 discloses a purchase APR of 8.74%–17.74%. Against the 4,587 filings on this site, that rate lands around the 23rd percentile.

What the document actually states

The document behind this page is University of Kentucky Federal Credit Union's filed agreement for App Sol Disc 07052022. The filing runs two pages, and It is issued on the Visa network.

Terms captured from the document include a purchase rate, a cash advance rate, a balance transfer rate, a late payment maximum and a foreign transaction fee. No figure appears for a penalty rate and an annual fee line.

Pricing the purchase rate

Purchases price between 8.74% and 17.74% under this filing. The 9-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

Those two numbers occupy very different places in the corpus: roughly the 5th percentile at the bottom and the 23rd at the top.

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.

What a balance actually costs

Put $1,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $194.

The corpus median purchase rate is 21.99%, which on the same $1,000 would cost about $246 a year. This filing saves roughly $52 annually against that benchmark.

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.

Default pricing

Late payments are capped at $29 under this filing, about the 47th percentile of late fee maximums in the corpus.

What the card costs before you borrow

Taking cash against the card means a cash advance APR of 17.74%.

The filing discloses a 8.74% balance transfer rate without an accompanying fee figure.

The filing sets a 1% foreign transaction fee, which adds roughly $10 to $1,000 spent outside the United States.

The no-interest path

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

Inside University of Kentucky Federal Credit Union's filed lineup

There are 20 filings from University of Kentucky Federal Credit Union in this index. Their disclosed purchase rates run from 11.49% to 18%, and this one at 17.74% is more expensive than 4 of them.

The limits of this document

Absent from the captured terms: an annual fee and penalty pricing. The original document is the place to look for any of these.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Go to the source

The filed PDF is linked from this page and runs two pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

At 17.74% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.