Consumer Summary of Credit Terms

The Consumer Summary of Credit Terms filing from Banner Bank sets out a 16.74% purchase APR, a $25 annual fee and a 7.24% introductory rate. The purchase rate sits at roughly the 19th percentile of the 4,587 agreements indexed here.

What this filing discloses

This page covers the agreement Banner Bank filed for Consumer Summary of Credit Terms. The filing runs three pages, and It is issued on the Mastercard network.

On the record here: a purchase rate, a cash advance rate, an annual fee line and a late payment maximum. No figure appears for a balance transfer rate, a penalty rate and a foreign transaction fee.

Introductory pricing

An introductory rate of 7.24% appears without a disclosed duration.

Among the 763 filings here that disclose an introductory rate, 7.24% sits at about the 90th percentile.

Once the introductory period ends the rate becomes 16.74%, which turns a lingering $5,000 balance into approximately $911 of annual interest.

The purchase APR against the corpus

Set beside the rest of the index, the purchase APR of 16.74% lands at the 19th percentile; it is comfortably below what most issuers filed.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

The arithmetic of revolving

At the disclosed purchase APR, $1,200 revolving for a full year costs something like $219 in interest.

A typical filing in this index would charge about $295 on that balance; this one is roughly $76 a year below it.

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

The annual fee is $25, charged whether or not the card is used. Against the filings here that disclose a fee, that sits at roughly the 78th percentile.

Expressed in the card's own terms, the $25 fee equals about a year's interest on a $149 balance at the disclosed 16.74% purchase rate.

The filing states the fee is waived for the first year, so the $25 is a second-year cost rather than an immediate one.

Taking cash against the card means a cash advance APR of 22.74%. That is 6 points above the purchase rate.

Penalty pricing and late fees

On the fee side, a late payment can cost up to $20, which is around the 17th percentile here.

The issuer's other agreements

Banner Bank has 3 agreements indexed on this site.

What you cannot learn from the filing

Absent from the captured terms: a foreign transaction fee, a grace period and penalty pricing. The original document is the place to look for any of these.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Reading the agreement yourself

Everything here is a reading of the filed agreement, three pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

At 16.74% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost. Against that sits the $25 annual fee, which is unavoidable once the account is open.