Platinum AA 12

On the record for Platinum AA 12 15: a 12.15% purchase APR, no annual fee, a six-month 0% opening period and a 17.9% penalty rate, filed by Los Angeles Police Federal Credit Union. That purchase rate ranks near the 8th percentile across this corpus of 4,587 filings.

What the document actually states

Los Angeles Police Federal Credit Union filed this agreement for Platinum AA 12 15 with the Consumer Financial Protection Bureau. The filing runs one page.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line.

What the promotional rate is worth

This agreement opens at 0% for six months, the only period in the document where carrying a balance is free.

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.

Behind the promotion sits a 12.15% purchase rate. On $2,000 that is in the region of $258 a year once the window closes.

The promotional window is therefore worth something on the order of $129 on $2,000, measured against the same balance priced at the standard rate for the same period.

How the purchase rate compares

12.15% puts the purchase APR near the 8th percentile across 2,280 agreements, so 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.

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

A $2,000 balance left untouched for twelve months accrues about $258 in interest at this purchase rate.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $233 annually against that benchmark.

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

Fees, and what triggers them

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

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 12.15%. Advances under roughly $100 are charged the flat $2; larger ones are charged 2%.

The transfer fee is a flat $0; transferred balances then run at 12.15%.

The filing sets a 1% foreign transaction fee, which adds roughly $10 to $1,000 spent outside the United States.

When a payment is late

A penalty APR of 17.9% 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 8th percentile.

A default therefore reprices the debt by 5.75 points: about $134 a year more on $2,000, for as long as the penalty rate stands.

On the fee side, a late payment can cost up to $15, which is around the 11th percentile here.

Grace period and minimum charge

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

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

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

This is one of 11 Los Angeles Police Federal Credit Union agreements collected here. The issuer's own range is 13.15%–17.9%. At 12.15%, this agreement is dearer than 0 of its siblings.

What the filing does not tell you

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.

Where the authority sits

This summary stands or falls on the linked PDF — one page. 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 12.15% is one of the cheaper figures in this index — the central point in the agreement's favour.