Free Spirit Travel Mastercard English

Bank of America prices Free Spirit Travel 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 the document actually states

What follows is drawn entirely from Bank of America's CFPB filing for Free Spirit Travel Mastercard English. It is issued on the Mastercard network and the filing runs 11 pages.

Terms captured from the document include a penalty rate, a late payment maximum and a grace period. 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.

Priced off the Prime Rate

Pricing here is disclosed in the form "Prime plus a margin". The numbers in this document are therefore the margin component only, and cannot be read as the cost of borrowing on their own.

As read from the document: 29.99 points for penalty pricing.

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.

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

The fee structure

Cash advances carry a cash advance fee of 5%.

Default pricing

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

The no-interest path

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

How it sits in the issuer's own range

There are 32 filings from Bank of America in this index.

What you cannot learn from the filing

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

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Reading the agreement yourself

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 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.