Milestone Mastercard Cardholder Agreement

The Milestone Mastercard Cardholder Agreement 360 filing from Bank of Missouri, the sets out a 35.9% purchase APR. The purchase rate sits at roughly the 91st percentile of the 4,587 agreements indexed here.

What this filing discloses

Bank of Missouri, the submitted the terms for Milestone Mastercard Cardholder Agreement 360 to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs 14 pages.

The disclosure covers 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.

The purchase APR against the corpus

The purchase APR of 35.9% places this agreement around the 91st percentile of the set — it sits in the expensive end of the corpus.

What a balance actually costs

At the disclosed purchase APR, $2,000 revolving for a full year costs something like $863 in interest.

On a median-priced agreement from this index (21.99%) the same $2,000 would run about $492 a year, so this card costs in the region of $372 more annually for the identical balance.

Per statement cycle that is on the order of $59.86 on $2,000, which is the number that actually shows up on a bill.

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.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

Fees, and what triggers them

Taking cash against the card means a cash advance fee of $5 or 5% of the advance, whichever is greater.

The filing sets a 1% foreign transaction fee, which adds roughly $30 to $3,000 spent outside the United States.

Paying in full

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.

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

Penalty pricing and late fees

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

How it sits in the issuer's own range

There are 120 filings from Bank of Missouri, the in this index. The issuer's own range is 24.9%–36%. At 35.9%, this agreement is dearer than 19 of its siblings.

What the filing does not tell you

This page cannot tell you balance transfer terms, an annual fee and penalty pricing, because the filing's disclosure table as read does not contain them.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

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

35.9% on purchases is the number that dominates this agreement. Paid in full each cycle it never applies; carried, it is among the dearer prices in this index.