MB CH Agreement Secured and Pricing Mar

Merrick Bank's filed agreement for 110830072 MB CH Agreement Secured and Pricing Mar discloses a 21.95% purchase APR and no annual fee. That purchase rate ranks near the 48th percentile across this corpus of 4,587 filings.

On the face of the filing

The document behind this page is Merrick Bank's filed agreement for 110830072 MB CH Agreement Secured and Pricing Mar. The filing runs nine pages.

Terms captured from the document include a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a foreign transaction fee. It is silent on a balance transfer rate and a penalty rate.

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.

It is worth noting that collateral does not automatically mean a cheap rate: at 21.95%, this filing's purchase APR still sits at about the 48th percentile of the whole corpus, secured and unsecured filings alike.

Pricing the purchase rate

At 21.95%, the purchase APR falls at roughly the 48th percentile of the 2,280 filings indexed here, which sits close to the middle of the corpus.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

What a balance actually costs

A $5,000 balance left untouched for twelve months accrues about $1,227 in interest at this purchase rate.

That is almost exactly what a median-priced filing in this index would charge on the same balance, since the corpus median sits at 21.99%.

Month to month it reads as about $91 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

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.

For cash advances the filing discloses a cash advance fee of $10 or 4% of the advance, whichever is greater and a cash advance APR of 26.95%. That is 5 points above the purchase rate. The two halves of that fee cross at about $250: below it the flat $10 applies, above it the percentage does.

The filing sets a 2% foreign transaction fee, which adds roughly $40 to $2,000 spent outside the United States.

When a payment is late

On the fee side, a late payment can cost up to $40, which is around the 72nd percentile here.

Grace period and minimum charge

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

Where interest applies at all, the filing bills at least $1. On a tiny balance that floor can dwarf the rate itself.

What the filing does not tell you

Absent from the captured terms: balance transfer terms 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.

The issuer's other agreements

Merrick Bank has 3 agreements indexed on this site.

Go to the source

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

In short

The pricing here is middling by the standards of the index — 21.95% on purchases is near enough to typical.