Credit Sesame Secured MC 05

Credit Sesame Secured MC 05 2023, as filed by Community Federal Savings Bank, carries a 0% purchase APR and no annual fee. That purchase rate ranks near the 1st percentile across this corpus of 4,587 filings.

The disclosed terms

Community Federal Savings Bank submitted the terms for Credit Sesame Secured MC 05 2023 to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs 28 pages.

The disclosure covers a purchase rate, an annual fee line and a late payment maximum. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.

The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.

A secured agreement

The product name identifies this as a secured card, which means the account is backed by a deposit the cardholder provides. The filing indexed here discloses rates and fees; it is the agreement text that governs how the deposit is held, when it is applied and under what conditions it is returned.

Securing the line has not placed this agreement at the bottom of the market — 0% ranks near the 1st percentile across every filing indexed here.

How the purchase rate compares

Ranked against the corpus, this purchase APR — 0% — sits at approximately the 1st percentile and is lower than almost every other agreement here.

What a balance actually costs

A $3,000 balance left untouched for twelve months accrues about $0 in interest at this purchase rate.

Measured against the 21.99% corpus median, the same $3,000 costs approximately $738 less per year here.

Broken down to a single thirty-day cycle, the same balance accrues roughly $0.

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.

Charges beyond interest

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

What a missed payment costs

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

The no-interest path

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

Inside Community Federal Savings Bank's filed lineup

There are 4 filings from Community Federal Savings Bank in this index.

The limits of this document

Absent from the captured terms: anything about cash advances, balance transfer terms, a foreign transaction fee and a grace period. The original document is the place to look for any of these.

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.

Where the authority sits

Everything here is a reading of the filed agreement, 28 pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

0% places this filing at the inexpensive end of the set, which is the headline here. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.