Business World Elite Plus Terms and Fees

The Business World Elite Plus Terms and Fees 2021 filing from Card Assets sets out a 13.24% purchase APR, a $249 annual fee, a 2.99% introductory rate and a 23.99% penalty rate. The purchase rate sits at roughly the 11th percentile of the 4,587 agreements indexed here.

What the document actually states

Card Assets filed this agreement for Business World Elite Plus Terms and Fees 2021 with the Consumer Financial Protection Bureau. The filing runs two pages.

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

The row carrying the purchase rate is unlabelled in the original document; it is reported here as the most likely purchase figure rather than a certain one.

The promotional period

An introductory rate of 2.99% appears without a disclosed duration.

Among the 763 filings here that disclose an introductory rate, 2.99% sits at about the 79th percentile.

What matters more than the promotion is the rate waiting behind it: 13.24%. A $1,000 balance that survives the promotional window costs roughly $142 a year from that point on.

The purchase rate in context

At 13.24%, the purchase APR falls at roughly the 11th percentile of the 2,280 filings indexed here, which falls in the low band of the corpus.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

What the rate means in dollars

Put $1,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $212.

The corpus median purchase rate is 21.99%, which on the same $1,500 would cost about $369 a year. This filing saves roughly $156 annually against that benchmark.

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

Where the fees are

$249 a year is the disclosed annual fee, which ranks near the 97th percentile of the fees filed across this corpus.

Expressed in the card's own terms, the $249 fee equals about a year's interest on a $1,881 balance at the disclosed 13.24% purchase rate.

A balance transfer costs 9.99% of the amount transferred up front. The filing does not separately state the rate applied to transferred balances. On $5,000 that fee is about $500 before any interest is charged.

When a payment is late

If the account defaults, the filing permits a rate of 23.99%. Among disclosing agreements here that ranks near the 39th percentile.

Measured in money, moving from 13.24% to 23.99% costs an extra $388 or so annually on $3,000 — a far larger number than any single late fee.

$35 is the disclosed ceiling on a late payment fee, placing it near the 54th percentile of the set.

The grace period

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

The issuer's other agreements

Card Assets has 32 agreements indexed on this site. Their disclosed purchase rates run from 12.24% to 19.99%, and this one at 13.24% is more expensive than 2 of them.

Among the issuer's other filings that disclose a fee, 17 of 20 come in below this card's $249.

The limits of this document

This page cannot tell you anything about cash advances and a foreign transaction fee, 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.

Reading the agreement yourself

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

In short

13.24% places this filing at the inexpensive end of the set, which is the headline here. Against that sits the $249 annual fee, which is unavoidable once the account is open.