OpenSkyCard CH Agreement SKY1

The OpenSkyCard CH Agreement SKY1 048 filing from Capital Bank sets out a 17.39% purchase APR and a $35 annual fee. The purchase rate sits at roughly the 22nd percentile of the 4,587 agreements indexed here.

On the face of the filing

This page covers the agreement Capital Bank filed for OpenSkyCard CH Agreement SKY1 048. It is issued on the Visa network and the filing runs 14 pages.

The filing is explicit about a purchase rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

Where the purchase APR sits

The purchase APR of 17.39% places this agreement around the 22nd percentile of the set — it is on the cheaper side of the median.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

What the rate means in dollars

At the disclosed purchase APR, $2,500 revolving for a full year costs something like $475 in interest.

A typical filing in this index would charge about $615 on that balance; this one is roughly $140 a year below it.

Note the $1 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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.

Charges beyond interest

$35 a year is the disclosed annual fee, which ranks near the 82nd percentile of the fees filed across this corpus.

One way to size that fee: at the card's own purchase rate of 17.39%, $35 is roughly the interest a balance of about $201 would generate in a year. The fee is a fixed cost that behaves like perpetual interest on that much debt.

Spending abroad costs an extra 3% — about $30 on $1,000 of purchases, independent of interest.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

The downside terms

The maximum late fee is $38 — roughly the 60th percentile of the late fee ceilings disclosed across this index.

The grace period

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

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

How it sits in the issuer's own range

4 separate Capital Bank filings appear in the corpus. The others all file the same 17.39% purchase rate. Whatever separates these products, it is not the cost of borrowing.

What is outside the disclosure

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

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

The filed PDF is linked from this page and runs 14 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

At 17.39% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. Note that the $35 annual fee falls due whether the card is used or not.