MichaelsΓäó Credit Card Current Credit Card Agreements

Comenity Capital Bank's filed agreement for MichaelsΓäó Credit Card Current Credit Card Agreements discloses a 35.99% purchase APR, a $35.88 annual fee and a 39.99% penalty rate. Against the 4,587 filings on this site, that rate lands around the 97th percentile.

What the agreement puts on the record

What follows is drawn entirely from Comenity Capital Bank's CFPB filing for MichaelsΓäó Credit Card Current Credit Card Agreements. The filing runs 12 pages.

The filing is explicit about a purchase rate, a penalty rate, an annual fee line and a late payment maximum. It is silent on a cash advance rate, a balance transfer rate and a foreign transaction fee.

Where the purchase APR sits

At 35.99%, the purchase APR falls at roughly the 97th percentile of the 2,280 filings indexed here, which is at the extreme upper end of the corpus.

The arithmetic of revolving

The purchase rate turns a $2,000 revolving balance into roughly $866 of annual interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $492. The gap — roughly $374 a year on $2,000 — is the price of this particular filing over a typical one.

There is also a floor: the filing sets a minimum interest charge of $3, so any cycle that accrues less than that is billed at $3 anyway.

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

Penalty pricing and late fees

If the account defaults, the filing permits a rate of 39.99%. Among disclosing agreements here that ranks near the 86th percentile.

That is 4 points above the standard purchase rate. On a $2,500 balance, the shift from 35.99% to 39.99% adds something like $146 of interest over a year — the real cost of the default, quite apart from the fee itself.

On the fee side, a late payment can cost up to $41, which is around the 89th percentile here.

What the card costs before you borrow

$35.88 a year is the disclosed annual fee, which ranks near the 84th percentile of the fees filed across this corpus.

One way to size that fee: at the card's own purchase rate of 35.99%, $35.88 is roughly the interest a balance of about $100 would generate in a year. The fee is a fixed cost that behaves like perpetual interest on that much debt.

Paying in full

A minimum interest charge of $3 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

How it sits in the issuer's own range

There are 100 filings from Comenity Capital Bank in this index. The issuer's own range is 14.74%–35.99%. At 35.99%, this agreement is dearer than 47 of its siblings.

Its $35.88 annual fee is higher than 53 of the 89 sibling filings that state one.

The limits of this document

Absent from the captured terms: anything about cash advances, balance transfer terms, a foreign transaction fee and a grace period. The original document is the place to look for any of these.

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.

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

This is an expensive agreement by the standards of the corpus, driven by a 35.99% purchase rate that is inert for a transactor and punishing for a revolver. Against that sits the $35.88 annual fee, which is unavoidable once the account is open.