Classic Visa Agreement and Federal Truth In Lending Disclosure Tier 16

Los Angeles Police Federal Credit Union's filed agreement for Classic Visa Agreement and Federal Truth In Lending Disclosure Tier 16 99 discloses a 16.99% purchase APR, no annual fee and a six-month 0% opening period. The purchase rate sits at roughly the 21st percentile of the 4,587 agreements indexed here.

On the face of the filing

Classic Visa Agreement and Federal Truth In Lending Disclosure Tier 16 99 is one of the agreements Los Angeles Police Federal Credit Union has on file with the CFPB. It is issued on the Visa network and the filing runs two pages.

Terms captured from the document include 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.

What the promotional rate is worth

A six-month promotional period at 0% is on the record here — during it, qualifying balances cost nothing to carry.

Zero-percent openings appear in roughly 458 of the filings on this site, which puts this agreement in a sizeable minority rather than a class of its own.

Once the introductory period ends the rate becomes 16.99%, which turns a lingering $2,500 balance into approximately $463 of annual interest.

Put the other way round, the six-month zero rate is worth roughly $231 on a $2,500 balance relative to paying the go-to rate from day one — a real figure, but one that only materialises for someone who was going to carry that balance anyway.

Where the purchase APR sits

At 16.99%, the purchase APR falls at roughly the 21st percentile of the 2,280 filings indexed here, which sits below the middle of the distribution.

This figure is the post-promotional rate. The introductory pricing is handled separately further down.

What the rate means in dollars

Carry $2,500 on this card for a year without paying it down and the purchase rate alone generates roughly $463 in interest.

The corpus median purchase rate is 21.99%, which on the same $2,500 would cost about $615 a year. This filing saves roughly $152 annually against that benchmark.

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

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.

Taking cash against the card means a cash advance fee of $2 or 2% of the advance, whichever is greater and a cash advance APR of 16.99%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 16.99%; no separate transfer fee was captured from the filing.

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

Penalty pricing and late fees

Late payments are capped at $15 under this filing, about the 11th percentile of late fee maximums in the corpus.

Paying in full

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

The disclosure parsed here does not state 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.

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.

Against the rest of Los Angeles Police Federal Credit Union's filings

11 separate Los Angeles Police Federal Credit Union filings appear in the corpus. Their disclosed purchase rates run from 12.15% to 17.9%, and this one at 16.99% is more expensive than 5 of them.

The document itself

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

The pricing here is middling by the standards of the index — 16.99% 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.