10 01 2023 Business Credit Card Rate Disclosure

10 01 2023 Business Credit Card Rate Disclosure, as filed by Onpoint Community Credit Union, carries a purchase APR of 14.25%–24.75%. That purchase rate ranks near the 60th percentile across this corpus of 4,587 filings.

On the face of the filing

The document behind this page is Onpoint Community Credit Union's filed agreement for 10 01 2023 Business Credit Card Rate Disclosure. The filing runs one page, and It is issued on the Visa network.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, a foreign transaction fee and a grace period. No figure appears for a penalty rate, an annual fee line and a late payment maximum.

Where the purchase APR sits

Rather than a single purchase rate, the document gives a band — 14.25% at the bottom, 24.75% at the top, 10.5 points wide. The agreement discloses the range without disclosing how an account is placed within it.

The floor of that band sits at about the 29th percentile of filed purchase rates; the ceiling sits at about the 60th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

The cost of carrying a balance

At the disclosed purchase APR, $2,500 revolving for a full year costs something like $702 in interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $615. The gap — roughly $87 a year on $2,500 — is the price of this particular filing over a typical one.

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

Fees, and what triggers them

Cash advances carry a cash advance APR of 16.25%.

The filing discloses a 16.25% balance transfer rate without an accompanying fee figure.

The filing sets a 2% foreign transaction fee, which adds roughly $60 to $3,000 spent outside the United States.

Paying in full

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

What the filing does not tell you

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

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.

The issuer's other agreements

There are 27 filings from Onpoint Community Credit Union in this index. The issuer's own range is 10%–26.75%. At 24.75%, this agreement is dearer than 19 of its siblings.

Go to the source

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

In short

24.75% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.