Credit Card

Lake Trust Credit Union's filed agreement for Credit Card discloses a 23.99% purchase APR and no annual fee. The purchase rate sits at roughly the 57th percentile of the 4,587 agreements indexed here.

The disclosed terms

What follows is drawn entirely from Lake Trust Credit Union's CFPB filing for Credit Card. The filing runs two pages.

The filing is explicit about a purchase rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

The row carrying the purchase rate is unlabelled in the original document; it is reported here as the most likely purchase figure rather than a certain one.

Where the purchase APR sits

Set beside the rest of the index, the purchase APR of 23.99% lands at the 57th percentile; it lands near the median.

What the rate means in dollars

The purchase rate turns a $1,200 revolving balance into roughly $325 of annual interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $295. The gap — roughly $30 a year on $1,200 — is the price of this particular filing over a typical one.

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.

Where the fees are

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.

Spending abroad costs an extra 1% — about $15 on $1,500 of purchases, independent of interest.

When a payment is late

Late payments are capped at $35 under this filing, about the 54th 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.

Against the rest of Lake Trust Credit Union's filings

This is one of 15 Lake Trust Credit Union agreements collected here. Pricing across this issuer's filings is uniform at 23.99% — the rate table does not distinguish one of its cards from another.

What is outside the disclosure

Absent from the captured terms: anything about cash advances, balance transfer terms 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.

Where the authority sits

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

The pricing here is middling by the standards of the index — 23.99% 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.