Fortiva Home Improver Cardholder Agreement Rev May

Bank of Missouri, the's filed agreement for Fortiva Home Improver Cardholder Agreement Rev May 2024 discloses a 35.99% purchase APR, a $54 annual fee and a 35.99% penalty rate. The purchase rate sits at roughly the 97th percentile of the 4,587 agreements indexed here.

On the face of the filing

What follows is drawn entirely from Bank of Missouri, the's CFPB filing for Fortiva Home Improver Cardholder Agreement Rev May 2024. The filing runs 11 pages.

The disclosure covers a purchase rate, a penalty rate and an annual fee line. A cash advance rate, a balance transfer rate and a late payment maximum are not stated.

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

Where the purchase APR sits

35.99% puts the purchase APR near the 97th percentile across 2,280 agreements, so it is about as high as anything filed here.

The arithmetic of revolving

Put $1,200 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $520.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $295. The gap — roughly $224 a year on $1,200 — is the price of this particular filing over a typical one.

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.

What the card costs before you borrow

Holding the card costs $54 a year before any transaction takes place — about the 89th percentile among agreements in this index that state a fee.

For scale, $54 is approximately what $150 of revolving balance would cost in interest over twelve months at this card's 35.99% rate.

The downside terms

If the account defaults, the filing permits a rate of 35.99%. Among disclosing agreements here that ranks near the 70th percentile.

What is outside the disclosure

This page cannot tell you anything about cash advances, balance transfer terms, a foreign transaction fee and a grace period, because the filing's disclosure table as read does not contain them.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Against the rest of Bank of Missouri, the's filings

Bank of Missouri, the has 120 agreements indexed on this site. The issuer's own range is 24.9%–36%. At 35.99%, this agreement is dearer than 99 of its siblings.

Where the authority sits

The filed PDF is linked from this page and runs 11 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

The defining fact about this filing is the purchase rate: at 35.99% it is in the expensive band of this corpus, and that cost only materialises for someone who revolves a balance. The $54 annual fee is charged regardless of use, so it is a cost that applies even to an account that never revolves. All of this rests on figures read from the filing with less than full confidence, which is reason enough to check the document before relying on any of it.