Milestone Mastercard Cardholder Agreement

The Milestone Mastercard Cardholder Agreement 329 filing from Bank of Missouri, the sets out a 29.9% purchase APR. Against the 4,587 filings on this site, that rate lands around the 72nd percentile.

What this filing discloses

Bank of Missouri, the submitted the terms for Milestone Mastercard Cardholder Agreement 329 to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs 13 pages.

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

The purchase APR against the corpus

29.9% puts the purchase APR near the 72nd percentile across 2,280 agreements, so it runs above the midpoint of the corpus.

The cost of carrying a balance

A $2,500 balance left untouched for twelve months accrues about $871 in interest at this purchase rate.

On a median-priced agreement from this index (21.99%) the same $2,500 would run about $615 a year, so this card costs in the region of $256 more annually for the identical balance.

Per statement cycle that is on the order of $62.17 on $2,500, 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.

Where the fees are

Spending abroad costs an extra 1% — about $20 on $2,000 of purchases, independent of interest.

Penalty pricing and late fees

$40 is the disclosed ceiling on a late payment fee, placing it near the 72nd percentile of the set.

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

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

The issuer's other agreements

There are 120 filings from Bank of Missouri, the in this index. Their disclosed purchase rates run from 24.9% to 36%, and this one at 29.9% is more expensive than 8 of them.

What you cannot learn from the filing

Absent from the captured terms: anything about cash advances, balance transfer terms, an annual fee and penalty pricing. The original document is the place to look for any of these.

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 13 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

29.9% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.