M 901004 Business World Elite

M 901004 Business World Elite, as filed by Card Assets, carries a $29 annual fee, a 0% opening rate and a 24.24% penalty rate.

What the agreement puts on the record

M 901004 Business World Elite is one of the agreements Card Assets has on file with the CFPB. The filing runs two pages.

The filing is explicit about a penalty rate, an annual fee line, a late payment maximum and a grace period. It is silent on a purchase rate, a cash advance rate and a balance transfer rate.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

Note that the purchase APR row in this table carries no explicit label in the filing, which introduces some ambiguity about what it covers.

The interest-free window

The filing discloses a 0% introductory rate, though it does not state how long the promotional period runs.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

Only the introductory figure parsed cleanly here. Since the rate after the promotion is the one that governs the account for most of its life, this page cannot describe the real cost of the card.

Where the fees are

The annual fee is $29, charged whether or not the card is used. Against the filings here that disclose a fee, that sits at roughly the 80th percentile.

Cash advances carry a cash advance fee of $10 or 5% of the advance, whichever is greater. $200 is the crossover point where the percentage overtakes the $10 minimum.

A balance transfer costs 13.49% of the amount transferred up front. The filing does not separately state the rate applied to transferred balances. On $2,000 that fee is about $270 before any interest is charged.

Penalty pricing and late fees

If the account defaults, the filing permits a rate of 24.24%. Among disclosing agreements here that ranks near the 46th percentile.

Late payments are capped at $0 under this filing, about the 2nd percentile of late fee maximums in the corpus.

The grace period

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

What is outside the disclosure

The disclosure parsed here does not state a purchase rate and a foreign transaction fee. 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.

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.

Inside Card Assets's filed lineup

Card Assets has 32 agreements indexed on this site. Their disclosed purchase rates run from 12.24% to 19.99%, though this particular filing does not state one in comparable form.

Where the authority sits

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

In short

The $29 annual fee is charged regardless of use, so it is a cost that applies even to an account that never revolves. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.