Platinum Visa Card Summary of Credit Terms

Union Bank's filed agreement for Platinum Visa Card Summary of Credit Terms discloses a purchase APR of 8.49%–19.99%, no annual fee and a 15-month 0% opening period. That purchase rate ranks near the 42nd percentile across this corpus of 4,587 filings.

On the face of the filing

Platinum Visa Card Summary of Credit Terms is one of the agreements Union Bank has on file with the CFPB. It is issued on the Visa network and the filing runs three pages.

The filing is explicit about 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 and a grace period.

The promotional period

The filing discloses a 0% introductory rate running 15 months. For that window, balances covered by the promotion accrue no interest at all.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

What matters more than the promotion is the rate waiting behind it: 19.99%. A $2,000 balance that survives the promotional window costs roughly $442 a year from that point on.

The promotional window is therefore worth something on the order of $553 on $2,000, measured against the same balance priced at the standard rate for the same period.

The purchase rate in context

Rather than a single purchase rate, the document gives a band — 8.49% at the bottom, 19.99% at the top, 11.5 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Read against the index, the low end ranks around the 5th percentile and the high end around the 42nd — the band straddles a wide stretch of the market this corpus describes.

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.

What a balance actually costs

A $1,200 balance left untouched for twelve months accrues about $265 in interest at this purchase rate.

Priced at the median of 21.99%, that balance would generate about $295 in a year — so this agreement comes in around $30 cheaper for the same debt.

Per statement cycle that is on the order of $19.87 on $1,200, which is the number that actually shows up on a bill.

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.

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.

Taking cash against the card means a cash advance fee of $15 or 5% of the advance, whichever is greater and a cash advance APR of 25.25%. The premium over purchases is 5.26 percentage points. $300 is the crossover point where the percentage overtakes the $15 minimum.

Transferred balances are priced at 8.49%; no separate transfer fee was captured from the filing.

Spending abroad costs an extra 3% — about $45 on $1,500 of purchases, independent of interest.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

When a payment is late

The filing explicitly states that no penalty APR applies. That is worth noting: a default on this account does not, by the terms of this document, reprice the whole balance upward.

The maximum late fee is $37 — roughly the 59th percentile of the late fee ceilings disclosed across this index.

Paying in full

The $1.75 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

The issuer's other agreements

There are 7 filings from Union Bank in this index. Their disclosed purchase rates run from 18.99% to 23.99%, and this one at 19.99% is more expensive than 1 of them.

What the filing does not tell you

This page cannot tell you a grace period, because the filing's disclosure table as read does not contain it.

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

Everything here is a reading of the filed agreement, three pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

The pricing here is middling by the standards of the index — 19.99% on purchases is near enough to typical.