Platinum/Platinum Rewards

The Platinum/platinum Rewards filing from Omni Community Credit Union sets out a purchase APR of 10.74%–19.74% and a 21.99% penalty rate. Against the 4,587 filings on this site, that rate lands around the 41st percentile.

The disclosed terms

Omni Community Credit Union submitted the terms for Platinum/platinum Rewards to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs two pages.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and a late payment maximum. An annual fee line is not stated.

Pricing the purchase rate

The purchase APR is quoted as a range of 10.74% to 19.74%. That 9-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

The floor of that band sits at about the 13th percentile of filed purchase rates; the ceiling sits at about the 41st. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

The cost of carrying a balance

Put $2,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $545.

The corpus median purchase rate is 21.99%, which on the same $2,500 would cost about $615 a year. This filing saves roughly $69 annually against that benchmark.

Broken down to a single thirty-day cycle, the same balance accrues roughly $40.88.

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.

Charges beyond interest

Taking cash against the card means a cash advance APR of 10.74%.

Transferred balances are priced at 10.74%; no separate transfer fee was captured from the filing.

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

Default pricing

The agreement discloses penalty pricing of 21.99% — about the 32nd percentile of the 794 penalty rates recorded across this index.

The jump from 19.74% to 21.99% is 2.25 percentage points, worth roughly $55 extra per year on $2,000 of balance.

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.

Paying in full

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

The issuer's other agreements

Omni Community Credit Union has 3 agreements indexed on this site.

What is outside the disclosure

The disclosure parsed here does not state an annual fee. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

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.

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

19.74% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.