Points terms conditions

The Points terms conditions filing from Patelco Credit Union sets out a purchase APR of 8.4%–16.9% and no annual fee. Against the 4,587 filings on this site, that rate lands around the 20th percentile.

What the agreement puts on the record

What follows is drawn entirely from Patelco Credit Union's CFPB filing for Points terms conditions. The filing runs one page, and It is issued on the Mastercard 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. No figure appears for a penalty rate and a foreign transaction fee.

Where the purchase APR sits

This is a tiered agreement: the filing discloses a purchase APR anywhere from 8.4% to 16.9%, a spread of 8.5 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 5th percentile at the bottom and the 20th 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.

Translating the rate into money

The purchase rate turns a $5,000 revolving balance into roughly $920 of annual interest.

A typical filing in this index would charge about $1,229 on that balance; this one is roughly $309 a year below it.

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.

Default pricing

The maximum late fee is $15 — roughly the 11th percentile of the late fee ceilings disclosed across this index.

The fee structure

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 11.4%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

The filing discloses a 8.4% balance transfer rate without an accompanying fee figure.

Paying in full

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

The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.

How it sits in the issuer's own range

There are 15 filings from Patelco Credit Union in this index. The issuer's own range is 10.7%–21.9%. At 16.9%, this agreement is dearer than 1 of its siblings.

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.

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

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

At 16.9% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost.