MasterCard Credit Card Agreement and Disclosures

Liberty Federal Credit Union's filed agreement for MasterCard Credit Card Agreement and Disclosures discloses a 1.99% purchase APR, no annual fee, a 1.99% introductory rate and a 18% penalty rate. The purchase rate sits at roughly the 1st percentile of the 4,587 agreements indexed here.

What the document actually states

What follows is drawn entirely from Liberty Federal Credit Union's CFPB filing for MasterCard Credit Card Agreement and Disclosures. It is issued on the Mastercard network and the filing runs three pages.

The filing is explicit about a purchase rate, a penalty rate, an annual fee line, a late payment maximum and a foreign transaction fee. A cash advance rate and a balance transfer rate are not stated.

Introductory pricing

A promotional rate of 1.99% applies for six months under this agreement — lower than the standard rate, but not free.

Among the 763 filings here that disclose an introductory rate, 1.99% sits at about the 66th percentile.

The go-to rate is 1.99%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $40 a year on $2,000.

How the purchase rate compares

Ranked against the corpus, this purchase APR — 1.99% — sits at approximately the 1st percentile and is among the very cheapest figures in the whole set.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

The rate discussed in this section is the go-to rate — the one that applies once the promotional period described below has ended, not the promotional rate itself.

The arithmetic of revolving

The purchase rate turns a $2,000 revolving balance into roughly $40 of annual interest.

A typical filing in this index would charge about $492 on that balance; this one is roughly $452 a year below it.

Broken down to a single thirty-day cycle, the same balance accrues roughly $3.27.

Note the $1 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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

What a missed payment costs

A penalty APR of 18% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 19th percentile.

Measured in money, moving from 1.99% to 18% costs an extra $443 or so annually on $2,500 — a far larger number than any single late fee.

Late payments are capped at $27 under this filing, about the 45th percentile of late fee maximums in the corpus.

The fee structure

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

The filing sets a 1% foreign transaction fee, which adds roughly $20 to $2,000 spent outside the United States.

Grace period and minimum charge

Purchases carry a 21-day grace period: pay the statement in full inside it and the purchase rate never applies. That is shorter than the 25-day corpus median.

A minimum interest charge of $1 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

How it sits in the issuer's own range

Liberty Federal Credit Union has 4 agreements indexed on this site. Pricing across this issuer's filings is uniform at 1.99% — the rate table does not distinguish one of its cards from another.

The limits of this document

This page cannot tell you anything about cash advances and balance transfer terms, because the filing's disclosure table as read does not contain them.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Go to the source

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

In short

The purchase rate of 1.99% is one of the cheaper figures in this index — the central point in the agreement's favour. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.