Milestone Mastercard Cardholder Agreement

On the record for Milestone Mastercard Cardholder Agreement 362: a 35.9% purchase APR, filed by Bank of Missouri, the. That purchase rate ranks near the 91st percentile across this corpus of 4,587 filings.

What the agreement puts on the record

Bank of Missouri, the filed this agreement for Milestone Mastercard Cardholder Agreement 362 with the Consumer Financial Protection Bureau. It is issued on the Mastercard network and the filing runs 13 pages.

Terms captured from the document include a purchase rate, a late payment maximum, a foreign transaction fee and a grace period. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

The purchase rate in context

Ranked against the corpus, this purchase APR — 35.9% — sits at approximately the 91st percentile and lands high in the distribution.

Translating the rate into money

The purchase rate turns a $5,000 revolving balance into roughly $2,158 of annual interest.

On a median-priced agreement from this index (21.99%) the same $5,000 would run about $1,229 a year, so this card costs in the region of $929 more annually for the identical balance.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

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

The downside terms

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

Where the fees are

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

Foreign transactions attract 1%. On $5,000 of overseas spending that is $50, charged on top of whatever exchange rate applies.

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

This is one of 120 Bank of Missouri, the agreements collected here. 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

Absent from the captured terms: balance transfer terms, an annual fee and penalty pricing. The original document is the place to look for any of these.

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 filed PDF is linked from this page and runs 13 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.