Important Credit Card Disclosures (11575)

Washington State Employees Credit Union's filed agreement for Important Credit Card Disclosures (11575) discloses a 29.99% purchase APR, no annual fee and a 0% opening rate. The purchase rate sits at roughly the 74th percentile of the 4,587 agreements indexed here.

The disclosed terms

Washington State Employees Credit Union submitted the terms for Important Credit Card Disclosures (11575) to the CFPB's agreement database; this is what they contain. The filing runs two pages.

The filing is explicit about a purchase rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.

The row carrying the purchase rate is unlabelled in the original document; it is reported here as the most likely purchase figure rather than a certain one.

Zero percent, and then what

A 0% promotional rate appears in the document without an accompanying term — the length of the window is not captured.

Roughly 458 of the 4,587 filings indexed here disclose a zero-percent introductory rate, so this is a real feature of the document but not a rare one.

The go-to rate is 29.99%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $1,049 a year on $3,000.

The purchase rate in context

At 29.99%, the purchase APR falls at roughly the 74th percentile of the 2,280 filings indexed here, which runs above the midpoint of the corpus.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

What the rate means in dollars

Put $5,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $1,748.

Against the corpus median of 21.99%, that is approximately $518 a year of extra interest on the same $5,000.

Broken down to a single thirty-day cycle, the same balance accrues roughly $124.73.

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.

Fees, and what triggers them

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.

Foreign transactions carry no fee. Only about 22% of the filings here that disclose a foreign transaction fee set it at zero, so this is a genuine point of difference.

The downside terms

$20 is the disclosed ceiling on a late payment fee, placing it near the 17th percentile of the set.

Grace period and minimum charge

Purchases carry a 21-day grace period: pay the statement in full inside it and the purchase rate never applies. With a corpus median of 25 days, this window is narrower than the norm.

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

What the filing does not tell you

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

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

The original filing, 2 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

The pricing here is middling by the standards of the index — 29.99% on purchases is near enough to typical. The absence of an annual fee means the rate is the only thing that can make this card expensive.