Target Mastercard Agreement

The Target Mastercard Agreement filing from TD Bank USA sets out a 21.45% purchase APR and no annual fee. The purchase rate sits at roughly the 46th percentile of the 4,587 agreements indexed here.

What this filing discloses

TD Bank USA submitted the terms for Target Mastercard Agreement to the CFPB's agreement database; this is what they contain. The filing runs seven pages, and It is issued on the Mastercard network.

On the record here: a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a grace period. No figure appears for a balance transfer rate, a penalty rate and a foreign transaction fee.

The purchase APR against the corpus

Ranked against the corpus, this purchase APR — 21.45% — sits at approximately the 46th percentile and lands near the median.

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 the rate means in dollars

Put $2,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $478.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $13 annually against that benchmark.

Broken down to a single thirty-day cycle, the same balance accrues roughly $35.56.

Small balances do not get a proportionally small bill — the agreement imposes a $1 minimum interest charge in any month where interest applies.

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 the card costs before you borrow

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.

Taking cash against the card means a cash advance fee of $10 or 3% of the advance, whichever is greater and a cash advance APR of 22.65%. Cash is therefore 1.2 points dearer than buying something with the card. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

When a payment is late

On the fee side, a late payment can cost up to $41, which is around the 89th percentile here.

Paying in full

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

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

How it sits in the issuer's own range

10 separate TD Bank USA filings appear in the corpus. The issuer's own range is 19.65%–31.9%. At 21.45%, this agreement is dearer than 1 of its siblings.

What is outside the disclosure

The disclosure parsed here does not state balance transfer terms, a foreign transaction fee and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

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.

Go to the source

The original filing, 7 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

At 21.45% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.