Visa Platinum Secured With City National Rewards Credit Card Agreement 65871E

The Visa Platinum Secured With City National Rewards Credit Card Agreement 65871E filing from City National Bank sets out a purchase APR of 19%–23% and no annual fee. Against the 4,587 filings on this site, that rate lands around the 54th percentile.

The disclosed terms

Visa Platinum Secured With City National Rewards Credit Card Agreement 65871E is one of the agreements City National Bank has on file with the CFPB. It is issued on the Visa network and the filing runs 12 pages.

Terms captured from the document include a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a grace period. A balance transfer rate, a penalty rate and a foreign transaction fee are not stated.

What "secured" changes

The product name identifies this as a secured card, which means the account is backed by a deposit the cardholder provides. The filing indexed here discloses rates and fees; it is the agreement text that governs how the deposit is held, when it is applied and under what conditions it is returned.

For context, the 23% purchase rate lands around the 54th percentile of all the agreements on this site, which is the useful comparison regardless of the deposit.

Pricing the purchase rate

The purchase APR is quoted as a range of 19% to 23%. That 4-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

The floor of that band sits at about the 58th percentile of filed purchase rates; the ceiling sits at about the 54th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

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.

The cost of carrying a balance

At the disclosed purchase APR, $3,000 revolving for a full year costs something like $776 in interest.

On a median-priced agreement from this index (21.99%) the same $3,000 would run about $738 a year, so this card costs in the region of $38 more annually for the identical balance.

Month to month it reads as about $57.23 per cycle on that balance.

Note the $0.70 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

Charges beyond interest

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 3% and a cash advance APR of 25%. Cash is therefore 2 points dearer than buying something with the card.

Transfers are charged $5 or 3% of the amount transferred, whichever is greater, though no distinct transfer APR appears in the document. Shifting $3,000 across attracts something like $90 in fees on day one.

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 $0.70 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

What a missed payment costs

Late payments are capped at $15 under this filing, about the 11th percentile of late fee maximums in the corpus.

Inside City National Bank's filed lineup

This is one of 28 City National Bank agreements collected here. Their disclosed purchase rates run from 19% to 27.25%, and this one at 23% is more expensive than 10 of them.

22 of the issuer's other 26 disclosing filings are likewise fee-free.

What the filing does not tell you

The disclosure parsed here does not state a foreign transaction fee and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

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.

The document itself

The filed PDF is linked from this page and runs 12 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

The pricing here is middling by the standards of the index — 23% on purchases is near enough to typical. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.