Platinum Card Agreement

On the record for Platinum Card Agreement: a purchase APR of 11.99%–17.99%, no annual fee and a 1.99% introductory rate, filed by Mission Federal Credit Union. Against the 4,587 filings on this site, that rate lands around the 28th percentile.

The disclosed terms

Mission Federal Credit Union submitted the terms for Platinum Card Agreement to the CFPB's agreement database; this is what they contain. The filing runs five pages, and It is issued on the Mastercard network.

The disclosure covers a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a foreign transaction fee. No figure appears for a balance transfer rate and a penalty rate.

What the promotional rate is worth

The filing discloses an introductory rate of 1.99% but no term for it.

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

Behind the promotion sits a 17.99% purchase rate. On $1,000 that is in the region of $197 a year once the window closes.

Where the purchase APR sits

Rather than a single purchase rate, the document gives a band — 11.99% at the bottom, 17.99% at the top, 6 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Read against the index, the low end ranks around the 17th percentile and the high end around the 28th — the band straddles a wide stretch of the market this corpus describes.

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

What the rate means in dollars

A $1,200 balance left untouched for twelve months accrues about $236 in interest at this purchase rate.

A typical filing in this index would charge about $295 on that balance; this one is roughly $59 a year below it.

Month to month it reads as about $17.87 per cycle on that balance.

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

The fee structure

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.

Taking cash against the card means a cash advance APR of 16.99%. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

The filing sets a 2% foreign transaction fee, which adds roughly $100 to $5,000 spent outside the United States.

Penalty pricing and late fees

Late payments are capped at $35 under this filing, about the 54th percentile of late fee maximums in the corpus.

The no-interest path

Anyone clearing the statement balance inside 21 days pays no purchase interest at all under this filing. That is shorter than the 25-day corpus median.

Inside Mission Federal Credit Union's filed lineup

Mission Federal Credit Union has 4 agreements indexed on this site.

The limits of this document

Absent from the captured terms: 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.

The document itself

The filed PDF is linked from this page and runs five 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 — 17.99% on purchases is near enough to typical. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.