09 04 23 Consumer Credit Rate Disclosure

On the record for 09 04 23 Consumer Credit Rate Disclosure: a purchase APR of 15.25%–19.75%, no annual fee and a 2.99% introductory rate, filed by Onpoint Community Credit Union. Against the 4,587 filings on this site, that rate lands around the 42nd percentile.

What the document actually states

What follows is drawn entirely from Onpoint Community Credit Union's CFPB filing for 09 04 23 Consumer Credit Rate Disclosure. The filing runs two pages, and It is issued on the Visa network.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. A penalty rate and a foreign transaction fee are not stated.

One important caveat sits on top of everything else here: the rate table in this filing covers more than one product. Figures shown on this page may belong to a sibling card in the same table rather than to this one, and only the PDF can settle which row applies.

The promotional period

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 19.75% purchase rate. On $2,500 that is in the region of $546 a year once the window closes.

The purchase APR against the corpus

Rather than a single purchase rate, the document gives a band — 15.25% at the bottom, 19.75% at the top, 4.5 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Those two numbers occupy very different places in the corpus: roughly the 36th percentile at the bottom and the 42nd at the top.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

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

A $2,000 balance left untouched for twelve months accrues about $437 in interest at this purchase rate.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $55 annually against that benchmark.

Month to month it reads as about $32.72 per cycle on that balance.

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.

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.

Cash advances carry a cash advance APR of 3%. 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 discloses a 17.25% balance transfer rate without an accompanying fee figure.

Default pricing

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.

Paying in full

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

Against the rest of Onpoint Community Credit Union's filings

Onpoint Community Credit Union has 27 agreements indexed on this site. Across that lineup purchase rates span 10% to 26.75%; this filing's 19.75% sits above 10 of the comparable ones.

The limits of this document

This page cannot tell you a foreign transaction fee and penalty pricing, because the filing's disclosure table as read does not contain them.

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

Everything here is a reading of the filed agreement, two pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

The pricing here is middling by the standards of the index — 19.75% on purchases is near enough to typical. And because the filing covers several products in one table, even the figures that are right may belong to a different card.