Platinum Card Disclosure 03

American Eagle Financial Credit Union's filed agreement for Platinum Card Disclosure 03 2024 discloses a purchase APR of 15.15%–18%, no annual fee and a 18% penalty rate. The purchase rate sits at roughly the 34th percentile of the 4,587 agreements indexed here.

What this filing discloses

Platinum Card Disclosure 03 2024 is one of the agreements American Eagle Financial Credit Union has on file with the CFPB. It is issued on the Visa network and the filing runs one page.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line. It is silent on a foreign transaction fee.

The purchase rate was taken from a row the filing did not clearly label, so there is some risk it describes a different balance type.

Where the purchase APR sits

This is a tiered agreement: the filing discloses a purchase APR anywhere from 15.15% to 18%, a spread of 2.85 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

Those two numbers occupy very different places in the corpus: roughly the 34th percentile at the bottom and the 34th at the top.

The cost of carrying a balance

The purchase rate turns a $2,000 revolving balance into roughly $394 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $97 annually against that benchmark.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

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.

For cash advances the filing discloses a cash advance fee of $10 or 3% of the advance, whichever is greater and a cash advance APR of 15.15%. The two halves of that fee cross at about $333: below it the flat $10 applies, above it the percentage does. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

The transfer fee is $10 or 3% of the amount transferred, whichever is greater; transferred balances then run at 15.15%. Transferring $5,000 would cost roughly $150 at the door.

When a payment is late

The agreement discloses penalty pricing of 18% — about the 19th percentile of the 794 penalty rates recorded across this index.

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

The grace period

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.

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

The disclosure parsed here does not state a foreign transaction fee. 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.

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.

Against the rest of American Eagle Financial Credit Union's filings

American Eagle Financial Credit Union has 8 agreements indexed on this site.

Where the authority sits

The original filing, 1 page 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

At 18% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.