Secured Card Agreement

On the record for Secured Card Agreement: a 9.99% purchase APR and a $200 annual fee, filed by Applied Bank. Against the 4,587 filings on this site, that rate lands around the 5th percentile.

The disclosed terms

This page covers the agreement Applied Bank filed for Secured Card Agreement. The filing runs 18 pages.

The disclosure covers a purchase rate, an annual fee line, a late payment maximum and a foreign transaction fee. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.

Collateral and the deposit

The product name identifies this as a secured card, which means the account is backed by a deposit the cardholder provides. The filing indexed here discloses rates and fees; it is the agreement text that governs how the deposit is held, when it is applied and under what conditions it is returned.

For context, the 9.99% purchase rate lands around the 5th percentile of all the agreements on this site, which is the useful comparison regardless of the deposit.

Pricing the purchase rate

The purchase APR of 9.99% places this agreement around the 5th percentile of the set — it is comfortably below what most issuers filed.

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.

Translating the rate into money

Put $5,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $525.

Measured against the 21.99% corpus median, the same $5,000 costs approximately $704 less per year here.

Broken down to a single thirty-day cycle, the same balance accrues roughly $41.22.

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.

The fee structure

The annual fee is $200, charged whether or not the card is used. Against the filings here that disclose a fee, that sits at roughly the 97th percentile.

For scale, $200 is approximately what $2,002 of revolving balance would cost in interest over twelve months at this card's 9.99% rate.

Taking cash against the card means a cash advance fee of $5 or 5% of the advance, whichever is greater. Advances under roughly $100 are charged the flat $5; larger ones are charged 5%.

Foreign transactions attract 3%. On $3,000 of overseas spending that is $90, charged on top of whatever exchange rate applies.

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

Grace period and minimum charge

The $0.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

Default pricing

Late payments are capped at $38 under this filing, about the 60th percentile of late fee maximums in the corpus.

What you cannot learn from the filing

Absent from the captured terms: balance transfer terms, a grace period and penalty pricing. The original document is the place to look for any of these.

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.

Where the authority sits

The original filing, 18 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

9.99% places this filing at the inexpensive end of the set, which is the headline here. Against that sits the $200 annual fee, which is unavoidable once the account is open.