Credit Card Agreement

Credit Card Agreement 0424, as filed by Cedar Hill National Bank, carries a 22.9% purchase APR and no annual fee. Against the 4,587 filings on this site, that rate lands around the 53rd percentile.

The disclosed terms

Cedar Hill National Bank submitted the terms for Credit Card Agreement 0424 to the CFPB's agreement database; this is what they contain. The filing runs four pages.

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

How the purchase rate compares

Ranked against the corpus, this purchase APR — 22.9% — sits at approximately the 53rd percentile and sits close to the middle of the corpus.

The arithmetic of revolving

At the disclosed purchase APR, $2,000 revolving for a full year costs something like $515 in interest.

Against the corpus median of 21.99%, that is approximately $23 a year of extra interest on the same $2,000.

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 $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

Paying in full

28 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That is longer than the corpus median of 25 days.

A minimum interest charge of $1 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

What a missed payment costs

Late payments are capped at $20 under this filing, about the 17th percentile of late fee maximums in the corpus.

Against the rest of Cedar Hill National Bank's filings

55 separate Cedar Hill National Bank filings appear in the corpus. Every one of the others that discloses a purchase rate discloses the same 22.9%, so the issuer's filings are near-identical on pricing and the differences between its cards lie outside the rate table.

The limits of this document

The disclosure parsed here does not state anything about cash advances, balance transfer terms, a foreign transaction fee and penalty pricing. 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.

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.

Go to the source

The original filing, 4 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

22.9% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. The absence of an annual fee means the rate is the only thing that can make this card expensive.