Consumer Credit Rate Disclosure Balance Transfer

The 020423 Consumer Credit Rate Disclosure Balance Transfer filing from Onpoint Community Credit Union sets out a purchase APR of 14.25%–18.75%, no annual fee and a 2.99% introductory rate. The purchase rate sits at roughly the 39th percentile of the 4,587 agreements indexed here.

On the face of the filing

What follows is drawn entirely from Onpoint Community Credit Union's CFPB filing for 020423 Consumer Credit Rate Disclosure Balance Transfer. It is issued on the Visa network and the filing runs three pages.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. It is silent on a penalty rate and a foreign transaction fee.

This document discloses several products inside a single rate table. That means the numbers below are the ones the table contains, not necessarily the ones attached to this particular card — the filing itself is the only way to tell them apart.

What the promotional rate is worth

For the first six months the filing sets a reduced rate of 2.99%. Balances still cost something during that window.

Among the 763 filings here that disclose an introductory rate, 2.99% sits at about the 79th percentile.

Behind the promotion sits a 18.75% purchase rate. On $3,000 that is in the region of $619 a year once the window closes.

The purchase rate in context

Rather than a single purchase rate, the document gives a band — 14.25% at the bottom, 18.75% at the top, 4.5 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Read against the index, the low end ranks around the 29th percentile and the high end around the 39th — the band straddles a wide stretch of the market this corpus describes.

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.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

What a balance actually costs

The purchase rate turns a $4,000 revolving balance into roughly $825 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $4,000 would cost about $983 a year. This filing saves roughly $159 annually against that benchmark.

Broken down to a single thirty-day cycle, the same balance accrues roughly $62.11.

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.

What the card costs before you borrow

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 APR of 3%. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

The filing discloses a 16.25% balance transfer rate without an accompanying fee figure.

Default pricing

The maximum late fee is $25 — roughly the 32nd percentile of the late fee ceilings disclosed across this index.

Grace period and minimum charge

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.

What is outside the disclosure

The disclosure parsed here does not state a foreign transaction fee and penalty pricing. 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.

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.

Inside Onpoint Community Credit Union's filed lineup

There are 27 filings from Onpoint Community Credit Union in this index. The issuer's own range is 10%–26.75%. At 18.75%, this agreement is dearer than 3 of its siblings.

On fees, 14 of the 16 sibling filings that disclose an annual fee also set it at zero — this one is among them.

Where the authority sits

The original filing, 3 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

The pricing here is middling by the standards of the index — 18.75% on purchases is near enough to typical. The multi-product table is the larger caveat: these numbers are the table's, not necessarily this card's.