Account Opening Disclosure Platinum A+

Account Opening Disclosure Platinum A+, as filed by Magnolia Federal Credit Union, carries a 18% purchase APR and no annual fee. Against the 4,587 filings on this site, that rate lands around the 34th percentile.

What the agreement puts on the record

Account Opening Disclosure Platinum A+ is one of the agreements Magnolia Federal 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. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

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.

Pricing the purchase rate

Ranked against the corpus, this purchase APR — 18% — sits at approximately the 34th percentile and comes in under the midpoint of the corpus.

What a balance actually costs

Carry $2,500 on this card for a year without paying it down and the purchase rate alone generates roughly $493 in interest.

Measured against the 21.99% corpus median, the same $2,500 costs approximately $122 less per year here.

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

The downside terms

On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.

Charges beyond interest

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

No foreign transaction fee is charged, which puts this filing in the roughly 22% of disclosing agreements here that do not take a cut of overseas spending.

Paying in full

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.

Inside Magnolia Federal Credit Union's filed lineup

4 separate Magnolia Federal Credit Union filings appear in the corpus.

What the filing does not tell you

Absent from the captured terms: penalty pricing. The original document is the place to look for any of these.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Go to the source

This summary stands or falls on the linked PDF — two pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

18% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.