Bank of America Customized Cash Rewards Secured English

The Bank of America Customized Cash Rewards Secured English 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 document actually states

What follows is drawn entirely from Bank of America's CFPB filing for Bank of America Customized Cash Rewards Secured English. The filing runs 12 pages.

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

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

Margins, not APRs

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.

The margins captured from the filing are 29.99 points for penalty pricing.

No cost illustration appears in this section for a reason: multiplying a margin by a balance produces a meaningless number. The real rate is Prime plus the margin, and Prime is not in this document.

The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.

What the card costs before you borrow

Taking cash against the card means a cash advance fee of 5%.

Spending abroad costs an extra 5% — about $150 on $3,000 of purchases, independent of interest.

That is at the high end of this corpus — around the 99th percentile of disclosed foreign transaction fees.

Penalty pricing and late fees

Late payments are capped at $41 under this filing, about the 89th percentile of late fee maximums in the corpus.

Paying in full

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

Inside Bank of America's filed lineup

This is one of 32 Bank of America agreements collected here.

What you cannot learn from the filing

This page cannot tell you a purchase rate, balance transfer terms and an annual fee, because the filing's disclosure table as read does not contain them.

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 document itself

The filed PDF is linked from this page and runs 12 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

Margins over Prime make this agreement legible but not priceable from the document alone. Treat the figures above as structure, and look up the current Prime Rate before drawing conclusions.