AOT TC for cfpb web 2024 1118 clean

The AOT TC for cfpb web 2024 1118 clean filing from Dsrm National Bank sets out a 29.49% purchase APR and no annual fee. The purchase rate sits at roughly the 70th percentile of the 4,587 agreements indexed here.

On the face of the filing

What follows is drawn entirely from Dsrm National Bank's CFPB filing for AOT TC for cfpb web 2024 1118 clean. The filing runs eight pages.

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

The purchase rate in context

Ranked against the corpus, this purchase APR — 29.49% — sits at approximately the 70th percentile and is dearer than the typical filing.

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 a balance actually costs

Put $1,200 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $411.

On a median-priced agreement from this index (21.99%) the same $1,200 would run about $295 a year, so this card costs in the region of $116 more annually for the identical balance.

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.

Paying in full

21 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. The typical filing here allows 25 days, so this one is tighter than most.

The $2 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

The fee structure

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

Against the rest of Dsrm National Bank's filings

There are 8 filings from Dsrm National Bank in this index. Across that lineup purchase rates span 27.24% to 29.99%; this filing's 29.49% sits above 4 of the comparable ones.

What is outside the disclosure

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

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.

Reading the agreement yourself

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

In short

The pricing here is middling by the standards of the index — 29.49% on purchases is near enough to typical.