Milestone Mastercard Cardholder Agreement

Bank of Missouri, the's filed agreement for Milestone Mastercard Cardholder Agreement 358 discloses a 35.9% purchase APR. That purchase rate ranks near the 91st percentile across this corpus of 4,587 filings.

On the face of the filing

What follows is drawn entirely from Bank of Missouri, the's CFPB filing for Milestone Mastercard Cardholder Agreement 358. The filing runs 14 pages, and It is issued on the Mastercard network.

The filing is explicit about a purchase rate, a late payment maximum, a foreign transaction fee and a grace period. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

Where the purchase APR sits

At 35.9%, the purchase APR falls at roughly the 91st percentile of the 2,280 filings indexed here, which lands high in the distribution.

The cost of carrying a balance

A $2,500 balance left untouched for twelve months accrues about $1,079 in interest at this purchase rate.

On a median-priced agreement from this index (21.99%) the same $2,500 would run about $615 a year, so this card costs in the region of $464 more annually for the identical balance.

There is also a floor: the filing sets a minimum interest charge of $1, so any cycle that accrues less than that is billed at $1 anyway.

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.

Default pricing

Late payments are capped at $41 under this filing, about the 89th percentile of late fee maximums in the corpus.

Fees, and what triggers them

Cash advances carry 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%.

The filing sets a 1% foreign transaction fee, which adds roughly $20 to $2,000 spent outside the United States.

The grace period

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

The $1 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

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

Bank of Missouri, the has 120 agreements indexed on this site. Across that lineup purchase rates span 24.9% to 36%; this filing's 35.9% sits above 19 of the comparable ones.

The limits of this document

The disclosure parsed here does not state 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.

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.

Where the authority sits

The filed PDF is linked from this page and runs 14 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

This is an expensive agreement by the standards of the corpus, driven by a 35.9% purchase rate that is inert for a transactor and punishing for a revolver.