Platinum Rate Promo Agreement

Platinum Rate Promo Agreement, as filed by Florida Credit Union, carries no annual fee and a 12-month 0% opening period.

What the document actually states

Florida Credit Union submitted the terms for Platinum Rate Promo Agreement to the CFPB's agreement database; this is what they contain. The filing runs eight pages, and It is issued on the Visa network.

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

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

What the promotional rate is worth

This agreement opens at 0% for 12 months, the only period in the document where carrying a balance is free.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

Where the fees are

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.

Cash advances carry a cash advance APR of 17.9%. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

The filing discloses a 11.9% balance transfer rate without an accompanying fee figure.

What a missed payment costs

On the fee side, a late payment can cost up to $35, which is around the 54th percentile here.

Paying in full

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.

The issuer's other agreements

There are 16 filings from Florida Credit Union in this index. Their disclosed purchase rates run from 17.9% to 17.9%, though this particular filing does not state one in comparable form.

4 of the issuer's other 10 disclosing filings are likewise fee-free.

The limits of this document

The disclosure parsed here does not state a purchase rate, a foreign transaction fee and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Go to the source

The original filing, 8 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

Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.