Before you read the numbers.
The filing discloses a promotional rate alongside the ongoing rate. The figure shown here is the go-to rate that applies once the promotional period ends, because that is the rate that governs for the life of the account.
Disclosed rates and fees
Every figure below was read from this issuer's filed agreement. Anything the filing does not state is left out of this table rather than shown as zero.
| Purchase APR | 11.99%–17.99% |
|---|---|
| Introductory APR | 1.99% |
| Cash advance APR | 16.99% |
| Annual fee | $0 |
| Late payment fee | up to $35 |
| Foreign transaction fee | 2% |
| Grace period | 21 days |
| Network | Mastercard |
Analysis
The 2 Platinum Schumer Range of Rates 4 18 24 filing from Mission Federal Credit Union sets out a purchase APR of 11.99%–17.99%, no annual fee and a 1.99% introductory rate. That purchase rate ranks near the 28th percentile across this corpus of 4,587 filings.
What the document actually states
The document behind this page is Mission Federal Credit Union's filed agreement for 2 Platinum Schumer Range of Rates 4 18 24. It is issued on the Mastercard network and the filing runs one page.
The filing is explicit about a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a foreign transaction fee. No figure appears for a balance transfer rate and a penalty rate.
Introductory pricing
The filing discloses an introductory rate of 1.99% but no term for it.
Among the 763 filings here that disclose an introductory rate, 1.99% sits at about the 66th percentile.
Behind the promotion sits a 17.99% purchase rate. On $2,500 that is in the region of $493 a year once the window closes.
The purchase APR against the corpus
Purchases price between 11.99% and 17.99% under this filing. The 6-point gap between the two is material, and nothing in the agreement indicates where a given account would land.
Those two numbers occupy very different places in the corpus: roughly the 17th percentile at the bottom and the 28th at the top.
This figure is the post-promotional rate. The introductory pricing is handled separately further down.
What the rate means in dollars
Put $1,200 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $236.
Priced at the median of 21.99%, that balance would generate about $295 in a year — so this agreement comes in around $59 cheaper for the same debt.
Month to month it reads as about $17.87 per cycle on that balance.
That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.
Grace period and minimum charge
21 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. The typical filing here allows 25 days, so this one is tighter than most.
Default pricing
Late payments are capped at $35 under this filing, about the 54th percentile of late fee maximums in the corpus.
Fees, and what triggers them
No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.
Taking cash against the card means a cash advance APR of 16.99%.
Foreign transactions attract 2%. On $2,000 of overseas spending that is $40, charged on top of whatever exchange rate applies.
How it sits in the issuer's own range
Mission Federal Credit Union has 4 agreements indexed on this site.
What the filing does not tell you
This page cannot tell you balance transfer terms and penalty pricing, because the filing's disclosure table as read does not contain them.
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.
Where the authority sits
The filed PDF is linked from this page and runs one page. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.
In short
17.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.
The source document
This page is a reading of one document: the cardholder agreement Mission Federal Credit Union filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.
Applications are handled by Mission Federal Credit Union, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Mission Federal Credit Union
-
Platinum Card Agreement
Agreement filed with the CFPB
- Purchase APR
- 11.99%–17.99%
- Annual fee
- $0
- Intro APR
- 1.99%
- Foreign tx fee
- 2%
Where this card sits
Groups this agreement qualifies for, by its own disclosed terms:
Comparable cards from other issuers
Closest disclosed purchase APR among cards in the same groups.