Dual Rate Disclosure

Dual Rate Disclosure 083019, as filed by Illinois Educators Credit Union, carries a 14.9% purchase APR and no annual fee. That purchase rate ranks near the 14th percentile across this corpus of 4,587 filings.

What this filing discloses

Illinois Educators Credit Union filed this agreement for Dual Rate Disclosure 083019 with the Consumer Financial Protection Bureau. It is issued on the Visa network and the filing runs two pages.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. A penalty rate is not stated.

The purchase rate in context

Set beside the rest of the index, the purchase APR of 14.9% lands at the 14th percentile; it falls in the low band of the corpus.

The cost of carrying a balance

Carry $5,000 on this card for a year without paying it down and the purchase rate alone generates roughly $803 in interest.

A typical filing in this index would charge about $1,229 on that balance; this one is roughly $426 a year below it.

Broken down to a single thirty-day cycle, the same balance accrues roughly $61.60.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

Charges beyond interest

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.

Cash advances carry a cash advance APR of 14.9%.

The filing discloses a 14.9% balance transfer rate without an accompanying fee figure.

Spending abroad costs an extra 1% — about $50 on $5,000 of purchases, independent of interest.

What a missed payment costs

Late payments are capped at $28 under this filing, about the 46th percentile of late fee maximums in the corpus.

Grace period and minimum charge

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

This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.

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.

Where the authority sits

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

In short

14.9% places this filing at the inexpensive end of the set, which is the headline here. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.