Consumer Pricing Addendum

Consumer Pricing Addendum, as filed by Erie Federal Credit Union, carries a purchase APR of 8.9%–17.9% and a 2.99% introductory rate. The purchase rate sits at roughly the 24th percentile of the 4,587 agreements indexed here.

The disclosed terms

Erie Federal Credit Union filed this agreement for Consumer Pricing Addendum with the Consumer Financial Protection Bureau. It is issued on the Mastercard network and the filing runs two pages.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, a late payment maximum and a foreign transaction fee. It is silent on a penalty rate and an annual fee line.

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.

What matters more than the promotion is the rate waiting behind it: 17.9%. A $3,000 balance that survives the promotional window costs roughly $588 a year from that point on.

Pricing the purchase rate

The purchase APR is quoted as a range of 8.9% to 17.9%. That 9-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Those two numbers occupy very different places in the corpus: roughly the 6th percentile at the bottom and the 24th at the top.

This figure is the post-promotional rate. The introductory pricing is handled separately further down.

The arithmetic of revolving

At the disclosed purchase APR, $5,000 revolving for a full year costs something like $980 in interest.

Priced at the median of 21.99%, that balance would generate about $1,229 in a year — so this agreement comes in around $250 cheaper for the same debt.

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.

What the card costs before you borrow

Taking cash against the card means a cash advance APR of 8.9%.

The filing discloses a 8.9% balance transfer rate without an accompanying fee figure.

Foreign transactions attract 1%. On $3,000 of overseas spending that is $30, charged on top of whatever exchange rate applies.

Default pricing

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

The no-interest path

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

What is outside the disclosure

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

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

How it sits in the issuer's own range

Erie Federal Credit Union has 7 agreements indexed on this site. Their disclosed purchase rates run from 15.9% to 17.9%, and this one at 17.9% is more expensive than 3 of them.

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

At 17.9% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.