Platinum Truth in Lending Visa

On the record for Platinum Truth in Lending Visa 02012021: a 17.9% purchase APR, filed by Los Angeles Police Federal Credit Union. Against the 4,587 filings on this site, that rate lands around the 24th percentile.

What this filing discloses

This page covers the agreement Los Angeles Police Federal Credit Union filed for Platinum Truth in Lending Visa 02012021. It is issued on the Visa network and the filing runs 16 pages.

Terms captured from the document include a purchase rate and a foreign transaction fee. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

The purchase rate was taken from a row the filing did not clearly label, so there is some risk it describes a different balance type.

How the purchase rate compares

At 17.9%, the purchase APR falls at roughly the 24th percentile of the 2,280 filings indexed here, which is on the cheaper side of the median.

What a balance actually costs

Put $5,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $980.

Measured against the 21.99% corpus median, the same $5,000 costs approximately $250 less per year here.

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.

Charges beyond interest

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

Grace period and minimum charge

Where interest applies at all, the filing bills at least $0.50. On a tiny balance that floor can dwarf the rate itself.

What you cannot learn from the filing

This page cannot tell you anything about cash advances, balance transfer terms, an annual fee and a grace period, because the filing's disclosure table as read does not contain them.

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.

Against the rest of Los Angeles Police Federal Credit Union's filings

11 separate Los Angeles Police Federal Credit Union filings appear in the corpus. Their disclosed purchase rates run from 12.15% to 17.9%, and this one at 17.9% is more expensive than 6 of them.

Where the authority sits

The original filing, 16 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 pricing here is middling by the standards of the index — 17.9% on purchases is near enough to typical. Given the parsing confidence on this filing, read the agreement itself before treating any of these figures as settled.