Platinum Mastercard Application 10

Platinum Mastercard Application 10 2024, as filed by Texas Dow Employees Credit Union, carries a purchase APR of 13.49%–17.99%, no annual fee, a 0% opening rate and a 17.99% penalty rate. That purchase rate ranks near the 28th percentile across this corpus of 4,587 filings.

The disclosed terms

What follows is drawn entirely from Texas Dow Employees Credit Union's CFPB filing for Platinum Mastercard Application 10 2024. The filing runs 15 pages, and It is issued on the Mastercard network.

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

Zero percent, and then what

The filing discloses a 0% introductory rate, though it does not state how long the promotional period runs.

Zero-percent openings appear in roughly 458 of the filings on this site, which puts this agreement in a sizeable minority rather than a class of its own.

The go-to rate is 17.99%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $394 a year on $2,000.

The purchase rate in context

The purchase APR is quoted as a range of 13.49% to 17.99%. That 4.5-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

The floor of that band sits at about the 25th percentile of filed purchase rates; the ceiling sits at about the 28th. 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, $1,000 revolving for a full year costs something like $197 in interest.

Measured against the 21.99% corpus median, the same $1,000 costs approximately $49 less per year here.

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

The fee structure

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

For cash advances the filing discloses a cash advance APR of 13.49%. 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.

Penalty pricing and late fees

A penalty APR of 17.99% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 12th percentile.

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

Against the rest of Texas Dow Employees Credit Union's filings

14 separate Texas Dow Employees Credit Union filings appear in the corpus. Every one of the others that discloses a purchase rate discloses the same 17.99%, so the issuer's filings are near-identical on pricing and the differences between its cards lie outside the rate table.

The limits of this document

The disclosure parsed here does not state balance transfer terms, a foreign transaction fee and a grace period. 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.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Go to the source

This summary stands or falls on the linked PDF — 15 pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

17.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.