Platinum Rewards Promo Agreement

The Platinum Rewards Promo Agreement filing from Florida Credit Union sets out a purchase APR of 14.9%–17.9%, no annual fee and a 12-month 0% opening period. That purchase rate ranks near the 24th percentile across this corpus of 4,587 filings.

On the face of the filing

Florida Credit Union submitted the terms for Platinum Rewards 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 purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. A penalty rate and a foreign transaction fee are not stated.

Zero percent, and then what

The filing discloses a 0% introductory rate running 12 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.

Once the introductory period ends the rate becomes 17.9%, which turns a lingering $5,000 balance into approximately $980 of annual interest.

The promotional window is therefore worth something on the order of $980 on $5,000, measured against the same balance priced at the standard rate for the same period.

The purchase rate in context

The purchase APR is quoted as a range of 14.9% to 17.9%. That 3-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

The floor of that band sits at about the 32nd percentile of filed purchase rates; the ceiling sits at about the 24th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

What the rate means in dollars

The purchase rate turns a $4,000 revolving balance into roughly $784 of annual interest.

Measured against the 21.99% corpus median, the same $4,000 costs approximately $200 less per year here.

Broken down to a single thirty-day cycle, the same balance accrues roughly $59.27.

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

What the card costs before you borrow

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.

Taking cash against the card means 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.

Transferred balances are priced at 14.9%; no separate transfer fee was captured from the filing.

Penalty pricing and late fees

The maximum late fee is $35 — roughly the 54th percentile of the late fee ceilings disclosed across this index.

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

Inside Florida Credit Union's filed lineup

Florida Credit Union has 16 agreements indexed on this site. Pricing across this issuer's filings is uniform at 17.9% — the rate table does not distinguish one of its cards from another.

On fees, 4 of the 10 sibling filings that disclose an annual fee also set it at zero — this one is among them.

The limits of this document

The disclosure parsed here does not state 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.

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.

The document itself

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

The pricing here is middling by the standards of the index — 17.9% 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.