GO2bank Secured Card Agreement (Rev Feb 2022)

The GO2bank Secured Card Agreement (Rev Feb 2022) filing from Green Dot Bank sets out a 22.99% purchase APR and no annual fee. That purchase rate ranks near the 54th percentile across this corpus of 4,587 filings.

What the document actually states

Green Dot Bank submitted the terms for GO2bank Secured Card Agreement (Rev Feb 2022) to the CFPB's agreement database; this is what they contain. The filing runs 23 pages.

Terms captured from the document include a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a grace period. A balance transfer rate, a penalty rate and a foreign transaction fee are not stated.

What "secured" changes

This is a secured agreement — the credit line is collateralised by a deposit. The disclosure table captured on this page covers pricing only; the mechanics of the deposit live in the body of the document.

For context, the 22.99% purchase rate lands around the 54th percentile of all the agreements on this site, which is the useful comparison regardless of the deposit.

The purchase APR against the corpus

At 22.99%, the purchase APR falls at roughly the 54th percentile of the 2,280 filings indexed here, which lands near the median.

The cost of carrying a balance

Put $2,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $517.

Against the corpus median of 21.99%, that is approximately $25 a year of extra interest on the same $2,000.

Per statement cycle that is on the order of $38.14 on $2,000, which is the number that actually shows up on a bill.

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

When a payment is late

$39 is the disclosed ceiling on a late payment fee, placing it near the 63rd percentile of the set.

Where the fees are

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.

For cash advances the filing discloses a cash advance fee of $10 or 5% of the advance, whichever is greater and a cash advance APR of 26.99%. That is 4 points above the purchase rate. Advances under roughly $200 are charged the flat $10; larger ones are charged 5%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Paying in full

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

The limits of this document

This page cannot tell you balance transfer terms, a foreign transaction fee and penalty pricing, because the filing's disclosure table as read does not contain them.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Reading the agreement yourself

This summary stands or falls on the linked PDF — 23 pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

22.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.