Bank of America Unlimited Cash Rewards English

Bank of America prices Bank of America Unlimited Cash Rewards 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

What follows is drawn entirely from Bank of America's CFPB filing for Bank of America Unlimited Cash Rewards English. The filing runs 11 pages.

On the record here: a penalty rate, a late payment maximum, a foreign transaction fee and a grace period. A purchase rate, a cash advance rate and a balance transfer rate are not stated.

The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.

A margin over Prime, not a rate

The rate figures in this agreement are expressed as margins over the Prime Rate rather than as absolute APRs. A margin is not a rate: the rate is the margin plus whatever Prime happens to be.

As read from the document: 29.99 points for penalty pricing.

This structure makes the card impossible to price from the filing in isolation — and deliberately so. The rate is whatever Prime is when the statement closes, plus the margin above.

The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.

Where the fees are

For cash advances the filing discloses a cash advance fee of 5%.

Foreign transactions attract 5%. On $2,000 of overseas spending that is $100, charged on top of whatever exchange rate applies.

That is at the high end of this corpus — around the 99th percentile of disclosed foreign transaction fees.

The grace period

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.

The downside terms

$41 is the disclosed ceiling on a late payment fee, placing it near the 89th percentile of the set.

Against the rest of Bank of America's filings

Bank of America has 32 agreements indexed on this site.

What you cannot learn from the filing

The disclosure parsed here does not state a purchase rate, balance transfer terms and an annual fee. 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.

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.

Go to the source

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

What can be said is how this card is priced, not what it costs. That distinction is the whole of the analysis here, and the agreement is the place to confirm the index it uses.