MasterCard Credit Card Agreement and Disclosures

MasterCard Credit Card Agreement and Disclosures, as filed by Liberty Federal Credit Union, carries a 1.99% purchase APR, no annual fee, a 1.99% introductory rate and a 18% penalty rate. The purchase rate sits at roughly the 1st percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

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

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

Introductory pricing

A promotional rate of 1.99% applies for six months under this agreement — lower than the standard rate, but not free.

Among the 763 filings here that disclose an introductory rate, 1.99% sits at about the 66th percentile.

What matters more than the promotion is the rate waiting behind it: 1.99%. A $2,500 balance that survives the promotional window costs roughly $50 a year from that point on.

Pricing the purchase rate

Set beside the rest of the index, the purchase APR of 1.99% lands at the 1st percentile; it sits in the bottom few percent of everything filed.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

This figure is the post-promotional rate. The introductory pricing is handled separately further down.

What the rate means in dollars

A $1,500 balance left untouched for twelve months accrues about $30 in interest at this purchase rate.

The corpus median purchase rate is 21.99%, which on the same $1,500 would cost about $369 a year. This filing saves roughly $339 annually against that benchmark.

Note the $1 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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.

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.

The filing sets a 1% foreign transaction fee, which adds roughly $20 to $2,000 spent outside the United States.

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.

The jump from 1.99% to 18% is 16.01 percentage points, worth roughly $354 extra per year on $2,000 of balance.

Late payments are capped at $27 under this filing, about the 45th percentile of late fee maximums in the corpus.

Paying in full

The filing gives 21 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. The typical filing here allows 25 days, so this one is tighter than most.

Where interest applies at all, the filing bills at least $1. On a tiny balance that floor can dwarf the rate itself.

Inside Liberty Federal Credit Union's filed lineup

There are 4 filings from Liberty Federal Credit Union in this index. Pricing across this issuer's filings is uniform at 1.99% — the rate table does not distinguish one of its cards from another.

What is outside the disclosure

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.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

The document itself

The original filing, 3 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 1.99% is one of the cheaper figures in this index — the central point in the agreement's favour. The absence of an annual fee means the rate is the only thing that can make this card expensive.