11 1 2022 Business Credit Card Rate Disclosure

Onpoint Community Credit Union's filed agreement for 11 1 2022 Business Credit Card Rate Disclosure discloses a purchase APR of 12%–22.5%. Against the 4,587 filings on this site, that rate lands around the 52nd percentile.

The disclosed terms

What follows is drawn entirely from Onpoint Community Credit Union's CFPB filing for 11 1 2022 Business Credit Card Rate Disclosure. The filing runs one page, and It is issued on the Visa network.

Terms captured from the document include a purchase rate, a cash advance rate, a balance transfer rate, a late payment maximum and a grace period. It is silent on a penalty rate, an annual fee line and a foreign transaction fee.

The purchase APR against the corpus

Purchases price between 12% and 22.5% under this filing. The 10.5-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

The floor of that band sits at about the 18th percentile of filed purchase rates; the ceiling sits at about the 52nd. 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.

Translating the rate into money

At the disclosed purchase APR, $1,500 revolving for a full year costs something like $378 in interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $369. The gap — roughly $10 a year on $1,500 — is the price of this particular filing over a typical one.

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.

Where the fees are

Cash advances carry 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 14% balance transfer rate without an accompanying fee figure.

The downside terms

$20 is the disclosed ceiling on a late payment fee, placing it near the 17th percentile of the set.

Grace period and minimum charge

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

How it sits in the issuer's own range

There are 27 filings from Onpoint Community Credit Union in this index. Their disclosed purchase rates run from 10% to 26.75%, and this one at 22.5% is more expensive than 14 of them.

What is outside the disclosure

The disclosure parsed here does not state an annual fee, 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.

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.

The document itself

The original filing, 1 page 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 — 22.5% on purchases is near enough to typical.