V2 34 25 Classic Cardholder Agreement

The V2 34 25 Classic Cardholder Agreement filing from Continental Bank sets out a purchase APR of 19.24%–34.25%, no annual fee and a 36% penalty rate. The purchase rate sits at roughly the 80th percentile of the 4,587 agreements indexed here.

The disclosed terms

Continental Bank submitted the terms for V2 34 25 Classic Cardholder Agreement to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs 23 pages.

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

The purchase rate in context

The purchase APR is quoted as a range of 19.24% to 34.25%. That 15.01-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

The floor of that band sits at about the 58th percentile of filed purchase rates; the ceiling sits at about the 80th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

What the rate means in dollars

Put $2,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $1,021.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $615. The gap — roughly $406 a year on $2,500 — is the price of this particular filing over a typical one.

Broken down to a single thirty-day cycle, the same balance accrues roughly $71.34.

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

Default pricing

If the account defaults, the filing permits a rate of 36%. Among disclosing agreements here that ranks near the 71st percentile.

Measured in money, moving from 34.25% to 36% costs an extra $62 or so annually on $2,500 — a far larger number than any single late fee.

Late payments are capped at $40 under this filing, about the 72nd percentile of late fee maximums in the corpus.

The fee structure

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.

Transferred balances are priced at 1%; no separate transfer fee was captured from the filing.

The grace period

The filing gives 21 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. With a corpus median of 25 days, this window is narrower than the norm.

The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.

The issuer's other agreements

Continental Bank has 10 agreements indexed on this site. The issuer's own range is 34.25%–35.99%. At 34.25%, this agreement is dearer than 0 of its siblings.

On fees, 4 of the 9 sibling filings that disclose an annual fee also set it at zero — this one is among them.

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.

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, 23 pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

34.25% on purchases is the number that dominates this agreement. Paid in full each cycle it never applies; carried, it is among the dearer prices in this index.