MasterCard Credit Card Agreement

MasterCard Credit Card Agreement, as filed by Equitable Federal Credit Union, carries a 9.78% purchase APR and no annual fee. The purchase rate sits at roughly the 4th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

What follows is drawn entirely from Equitable Federal Credit Union's CFPB filing for MasterCard Credit Card Agreement. It is issued on the Mastercard network and the filing runs two pages.

Terms captured from the document include a purchase rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.

The purchase APR against the corpus

Ranked against the corpus, this purchase APR — 9.78% — sits at approximately the 4th percentile and is among the very cheapest figures in the whole set.

What the rate means in dollars

The purchase rate turns a $1,000 revolving balance into roughly $103 of annual interest.

Priced at the median of 21.99%, that balance would generate about $246 in a year — so this agreement comes in around $143 cheaper for the same debt.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

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.

Taking cash against the card means a cash advance fee of $25.

Transfers are charged 4% of the amount transferred, though no distinct transfer APR appears in the document. On $3,000 that fee is about $120 before any interest is charged.

The filing sets a 1% foreign transaction fee, which adds roughly $50 to $5,000 spent outside the United States.

The downside terms

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.

Paying in full

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.

What is outside the disclosure

This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.

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

9.78% places this filing at the inexpensive end of the set, which is the headline here. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.