OnPoint CCU Consumer Credit Card Rate Disclosure

OnPoint CCU Consumer Credit Card Rate Disclosure 12012021, as filed by Onpoint Community Credit Union, carries a 10% purchase APR, no annual fee and a 2.99% introductory rate. Against the 4,587 filings on this site, that rate lands around the 5th percentile.

On the face of the filing

What follows is drawn entirely from Onpoint Community Credit Union's CFPB filing for OnPoint CCU Consumer Credit Card Rate Disclosure 12012021. The filing runs two pages, and It is issued on the Visa network.

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, a foreign transaction fee and a grace period.

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.

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.

Once the introductory period ends the rate becomes 10%, which turns a lingering $3,000 balance into approximately $315 of annual interest.

The purchase rate in context

10% puts the purchase APR near the 5th percentile across 2,280 agreements, so it sits well down in the cheaper fifth of the set.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

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.

The cost of carrying a balance

Carry $1,500 on this card for a year without paying it down and the purchase rate alone generates roughly $158 in interest.

A typical filing in this index would charge about $369 on that balance; this one is roughly $211 a year below it.

Month to month it reads as about $12.38 per cycle on that balance.

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

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

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

The filing discloses a 12% balance transfer rate without an accompanying fee figure.

Penalty pricing and late fees

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

What you cannot learn from the filing

This page cannot tell you a foreign transaction fee, a grace period and penalty pricing, because the filing's disclosure table as read does not contain them.

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.

How it sits in the issuer's own range

27 separate Onpoint Community Credit Union filings appear in the corpus. Across that lineup purchase rates span 10.75% to 26.75%; this filing's 10% sits above 0 of the comparable ones.

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

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

The purchase rate of 10% is one of the cheaper figures in this index — the central point in the agreement's favour. And because the filing covers several products in one table, even the figures that are right may belong to a different card.