Ultimate Cash Back 681 Credit Card Agreement and Pricing Addendum

On the record for Ultimate Cash Back 681 Credit Card Agreement and Pricing Addendum: a purchase APR of 19%–28.13%, no annual fee and a 12-month 0% opening period, filed by Santander Bank. That purchase rate ranks near the 67th percentile across this corpus of 4,587 filings.

What the document actually states

What follows is drawn entirely from Santander Bank's CFPB filing for Ultimate Cash Back 681 Credit Card Agreement and Pricing Addendum. The filing runs 11 pages.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. It is silent on a penalty rate, a foreign transaction fee and a grace period.

The purchase rate was taken from a row the filing did not clearly label, so there is some risk it describes a different balance type.

The interest-free window

The filing discloses a 0% introductory rate running 12 months. For that window, balances covered by the promotion accrue no interest at all.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

Behind the promotion sits a 28.13% purchase rate. On $5,000 that is in the region of $1,624 a year once the window closes.

The promotional window is therefore worth something on the order of $1,624 on $5,000, measured against the same balance priced at the standard rate for the same period.

How the purchase rate compares

The purchase APR is quoted as a range of 19% to 28.13%. That 9.13-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

The floor of that band sits at about the 58th percentile of filed purchase rates; the ceiling sits at about the 67th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The rate discussed in this section is the go-to rate — the one that applies once the promotional period described below has ended, not the promotional rate itself.

What a balance actually costs

The purchase rate turns a $3,000 revolving balance into roughly $974 of annual interest.

Against the corpus median of 21.99%, that is approximately $237 a year of extra interest on the same $3,000.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

What a missed payment costs

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

Where the fees are

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

Cash advances carry a cash advance fee of $10 or 5% of the advance, whichever is greater and a cash advance APR of 29.65%. The premium over purchases is 1.52 percentage points.

Moving a balance onto this card carries an up-front charge of $10 or 5% of the amount transferred, whichever is greater, with the transferred balance priced at 19%. Shifting $5,000 across attracts something like $250 in fees on day one.

The limits of this document

Absent from the captured terms: a foreign transaction fee, a grace period and penalty pricing. The original document is the place to look for any of these.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Where the authority sits

This summary stands or falls on the linked PDF — 11 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 — 28.13% on purchases is near enough to typical. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.