Account Opening Disclosure Platinum A

The Account Opening Disclosure Platinum A filing from Magnolia Federal Credit Union sets out a 18% purchase APR and no annual fee. The purchase rate sits at roughly the 34th percentile of the 4,587 agreements indexed here.

What the document actually states

Magnolia Federal Credit Union filed this agreement for Account Opening Disclosure Platinum A with the Consumer Financial Protection Bureau. The filing runs two pages.

The filing is explicit about a purchase rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

Note that the purchase APR row in this table carries no explicit label in the filing, which introduces some ambiguity about what it covers.

The purchase rate in context

At 18%, the purchase APR falls at roughly the 34th percentile of the 2,280 filings indexed here, which sits below the middle of the distribution.

What a balance actually costs

Put $1,200 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $237.

A typical filing in this index would charge about $295 on that balance; this one is roughly $58 a year below it.

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

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.

The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.

Penalty pricing and late fees

On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.

The fee structure

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.

The foreign transaction fee is zero — a minority position in this corpus, where roughly 22% of disclosing filings waive it.

Against the rest of Magnolia Federal Credit Union's filings

This is one of 4 Magnolia Federal Credit Union agreements collected here.

What the filing does not tell you

This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.

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.

Go to the source

The original filing, 2 pages 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

At 18% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.