L Card Visa Cardholder Agreement

L Card Visa Cardholder Agreement, as filed by Beneficial State Bank, carries a purchase APR of 19.99%–30.99% and no annual fee. Against the 4,587 filings on this site, that rate lands around the 76th percentile.

On the face of the filing

What follows is drawn entirely from Beneficial State Bank's CFPB filing for L Card Visa Cardholder Agreement. It is issued on the Visa network and the filing runs 12 pages.

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

The purchase APR against the corpus

This is a tiered agreement: the filing discloses a purchase APR anywhere from 19.99% to 30.99%, a spread of 11 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

Read against the index, the low end ranks around the 61st percentile and the high end around the 76th — the band straddles a wide stretch of the market this corpus describes.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

What the rate means in dollars

At the disclosed purchase APR, $5,000 revolving for a full year costs something like $1,816 in interest.

A card priced at the corpus median of 21.99% would charge roughly $1,229 on that balance. This one charges about $586 more per year.

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.

When a payment is late

The maximum late fee is $7 — roughly the 4th percentile of the late fee ceilings disclosed across this index.

What the card costs before you borrow

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

Cash advances carry a cash advance fee of $10 or 3% of the advance, whichever is greater and a cash advance APR of 19.99%. $333 is the crossover point where the percentage overtakes the $10 minimum.

Grace period and minimum charge

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.

The $0.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

The limits of this document

Absent from the captured terms: balance transfer terms, a foreign transaction fee and penalty pricing. The original document is the place to look for any of these.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Reading the agreement yourself

This summary stands or falls on the linked PDF — 12 pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

30.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. The absence of an annual fee means the rate is the only thing that can make this card expensive.