Allways Rewards Visa English

Bank of America prices Allways Rewards Visa English as a margin over the Prime Rate rather than as a fixed APR, so the filing discloses the spread but not the cost. This page explains what that means and sets the other disclosed terms against the corpus.

What this filing discloses

This page covers the agreement Bank of America filed for Allways Rewards Visa English. The filing runs 11 pages, and It is issued on the Visa network.

On the record here: a penalty rate, a late payment maximum and a grace period. No figure appears for a purchase rate, a cash advance rate and a balance transfer rate.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

Margins, not APRs

This filing does not quote finished APRs. It states margins — numbers that are added to the Prime Rate to produce the rate actually charged. Everything below should be read that way.

The margins captured from the filing are 29.99 points for penalty pricing.

Because the filing prices off an index, the dollar cost of a balance cannot be computed from the document alone. It is the current Prime Rate that completes the sum, and that changes.

Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.

Grace period and minimum charge

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

The downside terms

On the fee side, a late payment can cost up to $41, which is around the 89th percentile here.

What the card costs before you borrow

Cash advances carry a cash advance fee of 5%.

Inside Bank of America's filed lineup

Bank of America has 32 agreements indexed on this site.

What the filing does not tell you

Absent from the captured terms: a purchase rate, balance transfer terms, an annual fee and a foreign transaction fee. 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.

Reading the agreement yourself

The original filing, 11 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

Margins over Prime make this agreement legible but not priceable from the document alone. Treat the figures above as structure, and look up the current Prime Rate before drawing conclusions.