Platinum Credit Card Agreement and Disclosure

On the record for Platinum Credit Card Agreement and Disclosure: a purchase APR of 13.74%–17.99%, no annual fee and a six-month 0% opening period, filed by South Carolina Federal Credit Union. That purchase rate ranks near the 28th percentile across this corpus of 4,587 filings.

On the face of the filing

Platinum Credit Card Agreement and Disclosure is one of the agreements South Carolina Federal Credit Union has on file with the CFPB. It is issued on the Mastercard network and the filing runs nine pages.

The filing is explicit about a purchase rate, an annual fee line and a grace period. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

Zero percent, and then what

The filing discloses a 0% introductory rate running six months. For that window, balances covered by the promotion accrue no interest at all.

Zero-percent openings appear in roughly 458 of the filings on this site, which puts this agreement in a sizeable minority rather than a class of its own.

The go-to rate is 17.99%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $197 a year on $1,000.

The promotional window is therefore worth something on the order of $99 on $1,000, measured against the same balance priced at the standard rate for the same period.

Where the purchase APR sits

This is a tiered agreement: the filing discloses a purchase APR anywhere from 13.74% to 17.99%, a spread of 4.25 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

Read against the index, the low end ranks around the 26th percentile and the high end around the 28th — the band straddles a wide stretch of the market this corpus describes.

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.

What a balance actually costs

A $3,000 balance left untouched for twelve months accrues about $591 in interest at this purchase rate.

A typical filing in this index would charge about $738 on that balance; this one is roughly $146 a year below it.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

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.

The no-interest path

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That matches the 25-day median across the corpus almost exactly.

Against the rest of South Carolina Federal Credit Union's filings

12 separate South Carolina Federal Credit Union filings appear in the corpus. The others all file the same 17.99% purchase rate. Whatever separates these products, it is not the cost of borrowing.

What the filing does not tell you

This page cannot tell you anything about cash advances, balance transfer terms, a foreign transaction fee and penalty pricing, because the filing's disclosure table as read does not contain them.

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.

Where the authority sits

The filed PDF is linked from this page and runs nine pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

17.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.