Platinum B 15 24%

Platinum B 15 24%, as filed by Los Angeles Police Federal Credit Union, carries a 15.24% purchase APR, no annual fee, a six-month 0% opening period and a 17.9% penalty rate. Against the 4,587 filings on this site, that rate lands around the 15th percentile.

What the agreement puts on the record

What follows is drawn entirely from Los Angeles Police Federal Credit Union's CFPB filing for Platinum B 15 24%. 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.

The promotional period

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

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

The go-to rate is 15.24%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $823 a year on $5,000.

The promotional window is therefore worth something on the order of $411 on $5,000, measured against the same balance priced at the standard rate for the same period.

Where the purchase APR sits

Measured against every other filing on the site, 15.24% is about the 15th percentile for purchase APR; it is comfortably below what most issuers filed.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

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

The arithmetic of revolving

A $1,200 balance left untouched for twelve months accrues about $198 in interest at this purchase rate.

Priced at the median of 21.99%, that balance would generate about $295 in a year — so this agreement comes in around $98 cheaper for the same debt.

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

Fees, and what triggers them

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 15.24%.

Balance transfers cost a flat $0 up front and then accrue at 15.24%.

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

Penalty pricing and late fees

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

That is 2.66 points above the standard purchase rate. On a $2,000 balance, the shift from 15.24% to 17.9% adds something like $63 of interest over a year — the real cost of the default, quite apart from the fee itself.

$15 is the disclosed ceiling on a late payment fee, placing it near the 11th percentile of the set.

The no-interest path

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. 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.

How it sits in the issuer's own range

There are 11 filings from Los Angeles Police Federal Credit Union in this index. Their disclosed purchase rates run from 12.15% to 17.9%, and this one at 15.24% is more expensive than 3 of them.

What the filing does not tell you

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Reading the agreement yourself

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 15.24% 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.