MasterCard Credit Card Agreement and Disclosures

Alabama Credit Union's filed agreement for MasterCard Credit Card Agreement and Disclosures discloses a 12.9% purchase APR, no annual fee and a 8.9% penalty rate. The purchase rate sits at roughly the 10th percentile of the 4,587 agreements indexed here.

What the document actually states

What follows is drawn entirely from Alabama Credit Union's CFPB filing for MasterCard Credit Card Agreement and Disclosures. It is issued on the Mastercard network and the filing runs five pages.

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

How the purchase rate compares

Ranked against the corpus, this purchase APR — 12.9% — sits at approximately the 10th percentile and is comfortably below what most issuers filed.

The arithmetic of revolving

The purchase rate turns a $2,000 revolving balance into roughly $275 of annual interest.

A typical filing in this index would charge about $492 on that balance; this one is roughly $216 a year below it.

Broken down to a single thirty-day cycle, the same balance accrues roughly $21.31.

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

What a missed payment costs

A penalty APR of 8.9% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 2nd percentile.

Late payments are capped at $20 under this filing, about the 17th percentile of late fee maximums in the corpus.

The fee structure

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

For cash advances the filing discloses a cash advance APR of 12.9%.

The filing discloses a 12.9% balance transfer rate without an accompanying fee figure.

Grace period and minimum charge

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

How it sits in the issuer's own range

Alabama Credit Union has 3 agreements indexed on this site.

The limits of this document

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

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.

Go to the source

This summary stands or falls on the linked PDF — five pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

The purchase rate of 12.9% is one of the cheaper figures in this index — the central point in the agreement's favour. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.