California Teachers Association RateSmart Mastercard English

Bank of America prices California Teachers Association RateSmart Mastercard English as a margin over the Prime Rate rather than as a fixed APR, so the filing discloses the spread but not the cost. This page explains what that means and sets the other disclosed terms against the corpus.

What this filing discloses

Bank of America submitted the terms for California Teachers Association RateSmart Mastercard English to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs 11 pages.

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

Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.

A margin over Prime, not a rate

What this agreement discloses is a set of margins added to the Prime Rate. Until Prime is supplied, none of these figures is an APR, and this page will not treat them as one.

This structure makes the card impossible to price from the filing in isolation — and deliberately so. The rate is whatever Prime is when the statement closes, plus the margin above.

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

Charges beyond interest

Cash advances carry a cash advance fee of 5%.

Spending abroad costs an extra 5% — about $250 on $5,000 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

The maximum late fee is $41 — roughly the 89th percentile of the late fee ceilings disclosed across this index.

Paying in full

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

The issuer's other agreements

Bank of America has 32 agreements indexed on this site.

What is outside the disclosure

The disclosure parsed here does not state a purchase rate, balance transfer terms, an annual 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.

Where the authority sits

The original filing, 11 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

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.