Platinum Card Terms and Conditions

On the record for Platinum Card Terms and Conditions: a 18% purchase APR, no annual fee and a 18% introductory rate, filed by General Electric Credit Union. Against the 4,587 filings on this site, that rate lands around the 34th percentile.

The disclosed terms

General Electric Credit Union submitted the terms for Platinum Card Terms and Conditions to the CFPB's agreement database; this is what they contain. The filing runs three pages.

The disclosure covers a purchase rate, an annual fee line, a late payment maximum and a grace period. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

What the promotional rate is worth

A promotional rate of 18% applies for 12 months under this agreement — lower than the standard rate, but not free.

Among the 763 filings here that disclose an introductory rate, 18% sits at about the 96th percentile.

Behind the promotion sits a 18% purchase rate. On $1,000 that is in the region of $197 a year once the window closes.

Where the purchase APR sits

At 18%, the purchase APR falls at roughly the 34th percentile of the 2,280 filings indexed here, which is on the cheaper side of the median.

What the rate means in dollars

A $1,200 balance left untouched for twelve months accrues about $237 in interest at this purchase rate.

A typical filing in this index would charge about $295 on that balance; this one is roughly $58 a year below it.

Month to month it reads as about $17.88 per cycle on that balance.

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

The fee structure

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.

Penalty pricing and late fees

Late payments are capped at $32 under this filing, about the 50th 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.

Inside General Electric Credit Union's filed lineup

General Electric Credit Union has 6 agreements indexed on this site. Every one of the others that discloses a purchase rate discloses the same 18%, so the issuer's filings are near-identical on pricing and the differences between its cards lie outside the rate table.

The limits of this document

Absent from the captured terms: anything about cash advances, balance transfer terms, a foreign transaction fee and penalty pricing. The original document is the place to look for any of these.

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.

The document itself

The filed PDF is linked from this page and runs three pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

The pricing here is middling by the standards of the index — 18% on purchases is near enough to typical. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.