Secured Visa Credit First Latitude Summary of Terms Agreement

Pinnacle Bank - Synovus Bank Branch's filed agreement for Secured Visa Credit First Latitude Summary of Terms Agreement discloses a 26.74% purchase APR. The purchase rate sits at roughly the 64th percentile of the 4,587 agreements indexed here.

On the face of the filing

This page covers the agreement Pinnacle Bank - Synovus Bank Branch filed for Secured Visa Credit First Latitude Summary of Terms Agreement. It is issued on the Visa network and the filing runs one page.

The disclosure covers a purchase rate, a cash advance rate, a late payment maximum, a foreign transaction fee and a grace period. No figure appears for a balance transfer rate, a penalty rate and an annual fee line.

Collateral and the deposit

Secured cards work against a deposit held by the issuer. The rate and fee figures summarised here say nothing about the size of that deposit or the terms attached to it, both of which are matters for the agreement text itself.

It is worth noting that collateral does not automatically mean a cheap rate: at 26.74%, this filing's purchase APR still sits at about the 64th percentile of the whole corpus, secured and unsecured filings alike.

The purchase APR against the corpus

26.74% puts the purchase APR near the 64th percentile across 2,280 agreements, so it sits in the more expensive half.

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

A $1,500 balance left untouched for twelve months accrues about $460 in interest at this purchase rate.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $369. The gap — roughly $91 a year on $1,500 — is the price of this particular filing over a typical one.

Small balances do not get a proportionally small bill — the agreement imposes a $1.50 minimum interest charge in any month where interest applies.

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

Charges beyond interest

For cash advances the filing discloses a cash advance fee of $10 or 3% of the advance, whichever is greater and a cash advance APR of 26.74%. $333 is the crossover point where the percentage overtakes the $10 minimum. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

Foreign transactions attract 3%. On $5,000 of overseas spending that is $150, charged on top of whatever exchange rate applies.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

What a missed payment costs

On the fee side, a late payment can cost up to $39, which is around the 63rd percentile here.

Grace period and minimum charge

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

The $1.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

The limits of this document

Absent from the captured terms: balance transfer terms, an annual 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.

Inside Pinnacle Bank - Synovus Bank Branch's filed lineup

This is one of 21 Pinnacle Bank - Synovus Bank Branch agreements collected here. The issuer's own range is 10.74%–26.99%. At 26.74%, this agreement is dearer than 7 of its siblings.

The document itself

Everything here is a reading of the filed agreement, one page of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

At 26.74% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.