Interest Rates, Interest Charges, and Fees

On the record for Interest Rates, Interest Charges, and Fees: a 15.84% purchase APR and a $10 annual fee, filed by Pepco Federal Credit Union. Against the 4,587 filings on this site, that rate lands around the 16th percentile.

The disclosed terms

What follows is drawn entirely from Pepco Federal Credit Union's CFPB filing for Interest Rates, Interest Charges, and Fees. The filing runs one page.

Terms captured from the document include a purchase rate, a balance transfer rate, an annual fee line, a late payment maximum and a grace period. No figure appears for a cash advance rate, a penalty rate and a foreign transaction fee.

The purchase rate in context

Set beside the rest of the index, the purchase APR of 15.84% lands at the 16th percentile; it reads as inexpensive against the rest of the filings.

The document describes this rate as fixed. That is the minority case in this collection; most filings here quote variable rates tied to an index.

What the rate means in dollars

A $2,000 balance left untouched for twelve months accrues about $343 in interest at this purchase rate.

Priced at the median of 21.99%, that balance would generate about $492 in a year — so this agreement comes in around $149 cheaper for the same debt.

Per statement cycle that is on the order of $26.20 on $2,000, which is the number that actually shows up on a bill.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

Where the fees are

Holding the card costs $10 a year before any transaction takes place — about the 76th percentile among agreements in this index that state a fee.

Expressed in the card's own terms, the $10 fee equals about a year's interest on a $63 balance at the disclosed 15.84% purchase rate.

Transferred balances are priced at 15.84%; no separate transfer fee was captured from the filing.

Paying in full

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That matches the 25-day median across the corpus almost exactly.

What a missed payment costs

$35 is the disclosed ceiling on a late payment fee, placing it near the 54th percentile of the set.

What you cannot learn from the filing

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

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.

Go to the source

The filed PDF is linked from this page and runs one page. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

At 15.84% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost. Note that the $10 annual fee falls due whether the card is used or not.