Consumer Credit Card Rate Disclosure

060422 Consumer Credit Card Rate Disclosure, as filed by Onpoint Community Credit Union, carries a 10.75% purchase APR, no annual fee and a 2.99% introductory rate. Against the 4,587 filings on this site, that rate lands around the 6th percentile.

What the document actually states

Onpoint Community Credit Union filed this agreement for 060422 Consumer Credit Card Rate Disclosure with the Consumer Financial Protection Bureau. It is issued on the Visa network and the filing runs two pages.

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

This document discloses several products inside a single rate table. That means the numbers below are the ones the table contains, not necessarily the ones attached to this particular card — the filing itself is the only way to tell them apart.

Introductory pricing

A promotional rate of 2.99% 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, 2.99% sits at about the 79th percentile.

Behind the promotion sits a 10.75% purchase rate. On $5,000 that is in the region of $567 a year once the window closes.

The purchase rate in context

Set beside the rest of the index, the purchase APR of 10.75% lands at the 6th percentile; it sits well down in the cheaper fifth of the set.

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.

The rate discussed in this section is the go-to rate — the one that applies once the promotional period described below has ended, not the promotional rate itself.

Translating the rate into money

At the disclosed purchase APR, $1,000 revolving for a full year costs something like $113 in interest.

Priced at the median of 21.99%, that balance would generate about $246 in a year — so this agreement comes in around $132 cheaper for the same debt.

Per statement cycle that is on the order of $8.87 on $1,000, which is the number that actually shows up on a bill.

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

Where the fees are

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

For cash advances the filing discloses a cash advance APR of 3%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

The filing discloses a 12.75% balance transfer rate without an accompanying fee figure.

Default pricing

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

Paying in full

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

Against the rest of Onpoint Community Credit Union's filings

Onpoint Community Credit Union has 27 agreements indexed on this site. The issuer's own range is 10%–26.75%. At 10.75%, this agreement is dearer than 1 of its siblings.

On fees, 14 of the 16 sibling filings that disclose an annual fee also set it at zero — this one is among them.

What the filing does not tell you

Absent from the captured terms: a foreign transaction fee 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.

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

10.75% places this filing at the inexpensive end of the set, which is the headline here. With no annual fee, the cost of the account is entirely a function of whether a balance is carried. The multi-product table is the larger caveat: these numbers are the table's, not necessarily this card's.