Credit Card

Lake Trust Credit Union's filed agreement for Credit Card discloses a 23.99% purchase APR and no annual fee. That purchase rate ranks near the 57th percentile across this corpus of 4,587 filings.

What the document actually states

Credit Card is one of the agreements Lake Trust Credit Union has on file with the CFPB. The filing runs two pages.

The filing is explicit about 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 row carrying the purchase rate is unlabelled in the original document; it is reported here as the most likely purchase figure rather than a certain one.

The purchase rate in context

Ranked against the corpus, this purchase APR — 23.99% — sits at approximately the 57th percentile and is about typical for the filings collected here.

What the rate means in dollars

Carry $1,000 on this card for a year without paying it down and the purchase rate alone generates roughly $271 in interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $246. The gap — roughly $25 a year on $1,000 — is the price of this particular filing over a typical one.

Broken down to a single thirty-day cycle, the same balance accrues roughly $19.91.

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

Where the fees are

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.

Spending abroad costs an extra 1% — about $10 on $1,000 of purchases, independent of interest.

The downside terms

$35 is the disclosed ceiling on a late payment fee, placing it near the 54th percentile of the set.

Grace period and minimum charge

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.

What you cannot learn from the filing

Absent from the captured terms: anything about cash advances, balance transfer terms 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.

Inside Lake Trust Credit Union's filed lineup

There are 15 filings from Lake Trust Credit Union in this index. The others all file the same 23.99% purchase rate. Whatever separates these products, it is not the cost of borrowing.

Where the authority sits

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

The pricing here is middling by the standards of the index — 23.99% on purchases is near enough to typical.