Business Platinum Terms and Fees

On the record for Business Platinum Terms and Fees 2021: a 16.74% purchase APR, no annual fee, a 4.99% introductory rate and a 23.99% penalty rate, filed by Card Assets. The purchase rate sits at roughly the 19th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

What follows is drawn entirely from Card Assets's CFPB filing for Business Platinum Terms and Fees 2021. It is issued on the Visa network and the filing runs two pages.

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

The promotional period

The filing discloses an introductory rate of 4.99% but no term for it.

Among the 763 filings here that disclose an introductory rate, 4.99% sits at about the 87th percentile.

What matters more than the promotion is the rate waiting behind it: 16.74%. A $2,500 balance that survives the promotional window costs roughly $455 a year from that point on.

How the purchase rate compares

The purchase APR of 16.74% places this agreement around the 19th percentile of the set — it is comfortably below what most issuers filed.

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

The purchase rate turns a $4,000 revolving balance into roughly $729 of annual interest.

Priced at the median of 21.99%, that balance would generate about $983 in a year — so this agreement comes in around $255 cheaper for the same debt.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

The fee structure

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

Taking cash against the card means a cash advance fee of $10 or 5% of the advance, whichever is greater. The two halves of that fee cross at about $200: below it the flat $10 applies, above it the percentage does.

Penalty pricing and late fees

The agreement discloses penalty pricing of 23.99% — about the 39th percentile of the 794 penalty rates recorded across this index.

That is 7.25 points above the standard purchase rate. On a $2,000 balance, the shift from 16.74% to 23.99% adds something like $178 of interest over a year — the real cost of the default, quite apart from the fee itself.

$35 is the disclosed ceiling on a late payment fee, placing it near the 54th percentile of the set.

Paying in full

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

The limits of this document

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

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

Against the rest of Card Assets's filings

There are 32 filings from Card Assets in this index. The issuer's own range is 12.24%–19.99%. At 16.74%, this agreement is dearer than 4 of its siblings.

On fees, 12 of the 20 sibling filings that disclose an annual fee also set it at zero — this one is among them.

Go to the source

The original filing, 2 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

The purchase rate of 16.74% is one of the cheaper figures in this index — the central point in the agreement's favour.