Consumer Credit Rate Disclosure

Onpoint Community Credit Union's filed agreement for 030423 Consumer Credit Rate Disclosure discloses a purchase APR of 14.5%–19%, no annual fee and a 2.99% introductory rate. Against the 4,587 filings on this site, that rate lands around the 40th percentile.

The disclosed terms

Onpoint Community Credit Union submitted the terms for 030423 Consumer Credit Rate Disclosure to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs two pages.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. No figure appears for a penalty rate and a foreign transaction fee.

One important caveat sits on top of everything else here: the rate table in this filing covers more than one product. Figures shown on this page may belong to a sibling card in the same table rather than to this one, and only the PDF can settle which row applies.

The promotional period

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.

What matters more than the promotion is the rate waiting behind it: 19%. A $2,500 balance that survives the promotional window costs roughly $523 a year from that point on.

Pricing the purchase rate

The purchase APR is quoted as a range of 14.5% to 19%. That 4.5-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 30th percentile of filed purchase rates; the ceiling sits at about the 40th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

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.

The rate discussed in this section is the go-to rate — the one that applies once the promotional period described below has ended, not the promotional rate itself.

The cost of carrying a balance

Put $4,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $837.

Measured against the 21.99% corpus median, the same $4,000 costs approximately $147 less per year here.

Broken down to a single thirty-day cycle, the same balance accrues roughly $62.94.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

What the card costs before you borrow

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

Taking cash against the card means a cash advance APR of 3%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

The filing discloses a 16.5% balance transfer rate without an accompanying fee figure.

Paying in full

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

When a payment is late

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

How it sits in the issuer's own range

27 separate Onpoint Community Credit Union filings appear in the corpus. The issuer's own range is 10%–26.75%. At 19%, this agreement is dearer than 5 of its siblings.

14 of the issuer's other 16 disclosing filings are likewise fee-free.

What the filing does not tell you

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.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Go to the source

This summary stands or falls on the linked PDF — two pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

The pricing here is middling by the standards of the index — 19% on purchases is near enough to typical. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing. And because the filing covers several products in one table, even the figures that are right may belong to a different card.