Cardmember Agreement for Elan Financial Services Visa and Mastercard

The Cardmember Agreement for Elan Financial Services Visa and Mastercard filing quotes margins over Prime instead of finished rates. What that leaves knowable — and what it does not — is the subject of this analysis.

What the agreement puts on the record

What follows is drawn entirely from U.S. Bank's CFPB filing for Cardmember Agreement for Elan Financial Services Visa and Mastercard. The filing runs eight pages.

The filing is explicit about an annual fee line, a late payment maximum and a foreign transaction fee. It is silent on a purchase rate, a cash advance rate and a balance transfer rate.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

A margin over Prime, not a rate

This filing does not quote finished APRs. It states margins — numbers that are added to the Prime Rate to produce the rate actually charged. Everything below should be read that way.

Because the filing prices off an index, the dollar cost of a balance cannot be computed from the document alone. It is the current Prime Rate that completes the sum, and that changes.

These figures carry medium extraction confidence — they are reproduced as read from the filing, which remains the authority.

Fees, and what triggers them

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.

For cash advances the filing discloses a cash advance fee of $0 or 0% of the advance, whichever is greater.

Foreign transactions attract 3%. On $2,000 of overseas spending that is $60, 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

$41 is the disclosed ceiling on a late payment fee, placing it near the 89th percentile of the set.

The grace period

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

Inside U.S. Bank's filed lineup

6 separate U.S. Bank filings appear in the corpus.

What is outside the disclosure

The disclosure parsed here does not state a purchase rate, balance transfer terms, a grace period 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.

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

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

In short

The honest summary is that this filing discloses a structure rather than a price. The margins are real and comparable to each other; the cost of borrowing is whatever Prime makes it.