Cacsd U24 2 Generic

Independent Savings Plan's filed agreement for Cacsd U24 2 Generic 020524 discloses a purchase APR of 7%–18% and a $25 annual fee. Against the 4,587 filings on this site, that rate lands around the 34th percentile.

What this filing discloses

Independent Savings Plan submitted the terms for Cacsd U24 2 Generic 020524 to the CFPB's agreement database; this is what they contain. The filing runs six pages.

The filing is explicit about 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.

Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.

Where the purchase APR sits

This is a tiered agreement: the filing discloses a purchase APR anywhere from 7% to 18%, a spread of 11 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

The floor of that band sits at about the 3rd percentile of filed purchase rates; the ceiling sits at about the 34th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

The arithmetic of revolving

The purchase rate turns a $2,500 revolving balance into roughly $493 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $2,500 would cost about $615 a year. This filing saves roughly $122 annually against that benchmark.

Month to month it reads as about $37.25 per cycle on that 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.

Fees, and what triggers them

$25 a year is the disclosed annual fee, which ranks near the 78th percentile of the fees filed across this corpus.

One way to size that fee: at the card's own purchase rate of 18%, $25 is roughly the interest a balance of about $139 would generate in a year. The fee is a fixed cost that behaves like perpetual interest on that much debt.

Default pricing

On the fee side, a late payment can cost up to $50, which is around the 100th percentile here.

Against the rest of Independent Savings Plan's filings

9 separate Independent Savings Plan filings appear in the corpus. Every one of the others that discloses a purchase rate discloses the same 18%, so the issuer's filings are near-identical on pricing and the differences between its cards lie outside the rate table.

Its $25 annual fee is higher than 0 of the 3 sibling filings that state one.

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.

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.

Where the authority sits

The filed PDF is linked from this page and runs six 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 — 18% on purchases is near enough to typical. Against that sits the $25 annual fee, which is unavoidable once the account is open. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.