CC Disclosure Platinum Visa

On the record for CC Disclosure Platinum Visa 3 1 2023: a 14.95% purchase APR, no annual fee and a 17.75% penalty rate, filed by Education Credit Union. Against the 4,587 filings on this site, that rate lands around the 15th percentile.

What this filing discloses

Education Credit Union submitted the terms for CC Disclosure Platinum Visa 3 1 2023 to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs two 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. No figure appears for a cash advance rate and a balance transfer rate.

Pricing the purchase rate

14.95% puts the purchase APR near the 15th percentile across 2,280 agreements, so it is comfortably below what most issuers filed.

The cost of carrying a balance

Put $4,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $645.

The corpus median purchase rate is 21.99%, which on the same $4,000 would cost about $983 a year. This filing saves roughly $339 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

If the account defaults, the filing permits a rate of 17.75%. Among disclosing agreements here that ranks near the 7th percentile.

Measured in money, moving from 14.95% to 17.75% costs an extra $66 or so annually on $2,000 — a far larger number than any single late fee.

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

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.

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.

The issuer's other agreements

This is one of 3 Education Credit Union agreements collected here.

What you cannot learn from the filing

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.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

The document itself

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

In short

The purchase rate of 14.95% is one of the cheaper figures in this index — the central point in the agreement's favour. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.