LCCU Consumer Credit Pricing addendum secured

LCCU Consumer Credit Pricing addendum secured, as filed by Latino Community Credit Union, carries a 11% purchase APR. Against the 4,587 filings on this site, that rate lands around the 7th percentile.

The disclosed terms

What follows is drawn entirely from Latino Community Credit Union's CFPB filing for LCCU Consumer Credit Pricing addendum secured. The filing runs two pages, and It is issued on the Visa network.

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

Collateral and the deposit

Secured cards work against a deposit held by the issuer. The rate and fee figures summarised here say nothing about the size of that deposit or the terms attached to it, both of which are matters for the agreement text itself.

It is worth noting that collateral does not automatically mean a cheap rate: at 11%, this filing's purchase APR still sits at about the 7th percentile of the whole corpus, secured and unsecured filings alike.

How the purchase rate compares

At 11%, the purchase APR falls at roughly the 7th percentile of the 2,280 filings indexed here, which falls in the low band of the corpus.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

The cost of carrying a balance

At the disclosed purchase APR, $3,000 revolving for a full year costs something like $349 in interest.

Measured against the 21.99% corpus median, the same $3,000 costs approximately $389 less per year here.

Broken down to a single thirty-day cycle, the same balance accrues roughly $27.24.

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.

When a payment is late

$10 is the disclosed ceiling on a late payment fee, placing it near the 6th percentile of the set.

Charges beyond interest

Taking cash against the card means a cash advance fee of $0 and a cash advance APR of 11%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 11%; no separate transfer fee was captured from the filing.

The grace period

The filing gives 23 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. With a corpus median of 25 days, this window is narrower than the norm.

The issuer's other agreements

This is one of 4 Latino Community Credit Union agreements collected here.

What you cannot learn from the filing

The disclosure parsed here does not state an annual fee, 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

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

11% places this filing at the inexpensive end of the set, which is the headline here.