Disclosed rates and fees
Every figure below was read from this issuer's filed agreement. Anything the filing does not state is left out of this table rather than shown as zero.
| Purchase APR | 9.9% |
|---|---|
| Balance transfer APR | 9.9% |
| Cash advance APR | 9.9% |
| Late payment fee | up to $25 |
| Grace period | 25 days |
| Minimum interest charge | $0 |
| Network | Visa |
Analysis
Educational Community Credit Union's filed agreement for Platinum Visa Agreement and Truth in Lending Disclosure discloses a 9.9% purchase APR. Against the 4,587 filings on this site, that rate lands around the 5th percentile.
What the document actually states
Educational Community Credit Union submitted the terms for Platinum Visa Agreement and Truth in Lending Disclosure to the CFPB's agreement database; this is what they contain. 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 grace period. It is silent on a penalty rate, an annual fee line and a foreign transaction fee.
How the purchase rate compares
The purchase APR of 9.9% places this agreement around the 5th percentile of the set — it is lower than almost every other agreement here.
The cost of carrying a balance
A $2,000 balance left untouched for twelve months accrues about $208 in interest at this purchase rate.
A typical filing in this index would charge about $492 on that balance; this one is roughly $284 a year below it.
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 a missed payment costs
On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.
Where the fees are
Cash advances carry a cash advance APR of 9.9%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.
Transferred balances are priced at 9.9%; no separate transfer fee was captured from the filing.
The grace period
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.
What is outside the disclosure
This page cannot tell you an annual fee, a foreign transaction fee and penalty pricing, because the filing's disclosure table as read does not contain them.
An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.
Reading the agreement yourself
The original filing, 2 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 purchase rate of 9.9% is one of the cheaper figures in this index — the central point in the agreement's favour.
The source document
This page is a reading of one document: the cardholder agreement Educational Community Credit Union filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.
Applications are handled by Educational Community Credit Union, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Educational Community Credit Union
-
Visa Agreement and Truth in Lending Disclosure
Agreement filed with the CFPB
- Purchase APR
- 12.96%
Where this card sits
Groups this agreement qualifies for, by its own disclosed terms:
Comparable cards from other issuers
Closest disclosed purchase APR among cards in the same groups.