Destiny Mastercard Cardholder Agreement

The Destiny Mastercard Cardholder Agreement 239 filing from Bank of Missouri, the sets out a 35.9% purchase APR and no annual fee. The purchase rate sits at roughly the 91st percentile of the 4,587 agreements indexed here.

The disclosed terms

Bank of Missouri, the filed this agreement for Destiny Mastercard Cardholder Agreement 239 with the Consumer Financial Protection Bureau. The filing runs 13 pages, and It is issued on the Mastercard network.

The disclosure covers a purchase rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

The purchase APR against the corpus

35.9% puts the purchase APR near the 91st percentile across 2,280 agreements, so it lands high in the distribution.

The arithmetic of revolving

At the disclosed purchase APR, $1,500 revolving for a full year costs something like $647 in interest.

Against the corpus median of 21.99%, that is approximately $279 a year of extra interest on the same $1,500.

Per statement cycle that is on the order of $44.90 on $1,500, which is the number that actually shows up on a bill.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

Fees, and what triggers them

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

Cash advances carry a cash advance fee of $5 or 5% of the advance, whichever is greater. $100 is the crossover point where the percentage overtakes the $5 minimum.

Foreign transactions attract 1%. On $2,000 of overseas spending that is $20, charged on top of whatever exchange rate applies.

Grace period and minimum charge

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That matches the 25-day median across the corpus almost exactly.

The $1 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

Default pricing

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

How it sits in the issuer's own range

There are 120 filings from Bank of Missouri, the in this index. The issuer's own range is 24.9%–36%. At 35.9%, this agreement is dearer than 19 of its siblings.

On fees, 21 of the 79 sibling filings that disclose an annual fee also set it at zero — this one is among them.

The limits of this document

This page cannot tell you balance transfer terms and penalty pricing, because the filing's disclosure table as read does not contain them.

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.

Go to the source

The filed PDF is linked from this page and runs 13 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

This is an expensive agreement by the standards of the corpus, driven by a 35.9% purchase rate that is inert for a transactor and punishing for a revolver. The absence of an annual fee means the rate is the only thing that can make this card expensive.