Consumer Credit Rate Disclosure

030423 Consumer Credit Rate Disclosure, as filed by Onpoint Community Credit Union, carries a purchase APR of 14.5%–19%, no annual fee and a 2.99% introductory rate. That purchase rate ranks near the 40th percentile across this corpus of 4,587 filings.

What this filing discloses

What follows is drawn entirely from Onpoint Community Credit Union's CFPB filing for 030423 Consumer Credit Rate Disclosure. The filing runs two pages, and It is issued on the Visa network.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. A penalty rate and a foreign transaction fee are not stated.

The filing bundles multiple products into one disclosure table. Any figure quoted here may describe a related card in the same filing, so the PDF should be read before treating these numbers as this card's own.

Introductory pricing

A promotional rate of 2.99% applies for six months under this agreement — lower than the standard rate, but not free.

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

Once the introductory period ends the rate becomes 19%, which turns a lingering $2,500 balance into approximately $523 of annual interest.

Where the purchase APR sits

This is a tiered agreement: the filing discloses a purchase APR anywhere from 14.5% to 19%, a spread of 4.5 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

Those two numbers occupy very different places in the corpus: roughly the 30th percentile at the bottom and the 40th at the top.

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

Put $2,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $418.

Priced at the median of 21.99%, that balance would generate about $492 in a year — so this agreement comes in around $73 cheaper for the same debt.

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.

Fees, and what triggers them

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.

For cash advances the filing discloses a cash advance APR of 3%.

Transferred balances are priced at 16.5%; no separate transfer fee was captured from the filing.

The grace period

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

Penalty pricing and late fees

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

Against the rest of Onpoint Community Credit Union's filings

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.

What the filing does not tell you

Absent from the captured terms: a foreign transaction fee and penalty pricing. The original document is the place to look for any of these.

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.

Reading the agreement yourself

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

At 19% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. With no annual fee, the cost of the account is entirely a function of whether a balance is carried. And because the filing covers several products in one table, even the figures that are right may belong to a different card.