BankAmericard Secured English

Pricing in Bank of America's BankAmericard Secured English agreement is expressed relative to the Prime Rate. This review treats those figures as margins, which is what they are, and compares the fee terms that can be compared.

On the face of the filing

This page covers the agreement Bank of America filed for BankAmericard Secured English. The filing runs 12 pages.

Terms captured from the document include 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.

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

Pricing here is disclosed in the form "Prime plus a margin". The numbers in this document are therefore the margin component only, and cannot be read as the cost of borrowing on their own.

The practical consequence is that this card has no single disclosed price. The cost of carrying a balance moves whenever the Prime Rate moves, in lockstep and without notice, and no arithmetic on this page can tell you what it costs today.

These figures carry medium extraction confidence — they are reproduced as read from the filing, which remains the authority.

Where the fees are

Cash advances carry a cash advance fee of 5%.

Spending abroad costs an extra 5% — about $100 on $2,000 of purchases, independent of interest.

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

The grace period

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

What a missed payment costs

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

Inside Bank of America's filed lineup

32 separate Bank of America filings appear in the corpus.

What the filing does not tell you

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

Reading the agreement yourself

The filed PDF is linked from this page and runs 12 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

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.