Platinum A 13 15%

The Platinum A 13 15% filing from Los Angeles Police Federal Credit Union sets out a 13.15% purchase APR, no annual fee, a six-month 0% opening period and a 17.9% penalty rate. That purchase rate ranks near the 10th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

This page covers the agreement Los Angeles Police Federal Credit Union filed for Platinum A 13 15%. The filing runs one page.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line.

The interest-free window

The filing discloses a 0% introductory rate running six months. For that window, balances covered by the promotion accrue no interest at all.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

The go-to rate is 13.15%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $422 a year on $3,000.

Put the other way round, the six-month zero rate is worth roughly $211 on a $3,000 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.

How the purchase rate compares

Set beside the rest of the index, the purchase APR of 13.15% lands at the 10th percentile; it sits well down in the cheaper fifth of the set.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

Translating the rate into money

Put $1,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $141.

A typical filing in this index would charge about $246 on that balance; this one is roughly $105 a year below it.

Broken down to a single thirty-day cycle, the same balance accrues roughly $10.86.

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.

What the card costs before you borrow

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 13.15%. Advances under roughly $100 are charged the flat $2; larger ones are charged 2%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

The transfer fee is a flat $0; transferred balances then run at 13.15%.

Foreign transactions attract 1%. On $2,000 of overseas spending that is $20, charged on top of whatever exchange rate applies.

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.

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

What a missed payment costs

The agreement discloses penalty pricing of 17.9% — about the 8th percentile of the 794 penalty rates recorded across this index.

That is 4.75 points above the standard purchase rate. On a $3,000 balance, the shift from 13.15% to 17.9% adds something like $166 of interest over a year — the real cost of the default, quite apart from the fee itself.

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

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. Across that lineup purchase rates span 12.15% to 17.9%; this filing's 13.15% sits above 1 of the comparable ones.

What is outside the disclosure

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.

The document itself

The original filing, 1 page long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

The purchase rate of 13.15% is one of the cheaper figures in this index — the central point in the agreement's favour. The absence of an annual fee means the rate is the only thing that can make this card expensive.