Petco Pay Mastercard® Credit Card Current Credit Card Agreements

On the record for Petco Pay Mastercard┬« Credit Card Current Credit Card Agreements: a purchase APR of 28.24%–34.24%, a $35.88 annual fee and a 39.99% penalty rate, filed by Comenity Capital Bank. The purchase rate sits at roughly the 80th percentile of the 4,587 agreements indexed here.

The disclosed terms

Comenity Capital Bank submitted the terms for Petco Pay Mastercard® Credit Card Current Credit Card Agreements to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs 19 pages.

Terms captured from the document include a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line. It is silent on a grace period.

Pricing the purchase rate

Rather than a single purchase rate, the document gives a band — 28.24% at the bottom, 34.24% at the top, 6 points wide. The agreement discloses the range without disclosing how an account is placed within it.

The floor of that band sits at about the 72nd percentile of filed purchase rates; the ceiling sits at about the 80th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

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.

Translating the rate into money

The purchase rate turns a $4,000 revolving balance into roughly $1,632 of annual interest.

A card priced at the corpus median of 21.99% would charge roughly $983 on that balance. This one charges about $649 more per year.

Month to month it reads as about $114.11 per cycle on that balance.

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.

The fee structure

Holding the card costs $35.88 a year before any transaction takes place — about the 84th percentile among agreements in this index that state a fee.

Expressed in the card's own terms, the $35.88 fee equals about a year's interest on a $105 balance at the disclosed 34.24% purchase rate.

Taking cash against the card means a cash advance fee of 35.24% and a cash advance APR of 35.24%. The premium over purchases is 1 percentage points.

The transfer fee is $10 or 5% of the amount transferred, whichever is greater; transferred balances then run at 28.24%. On $5,000 that fee is about $250 before any interest is charged.

The filing sets a 5% foreign transaction fee, which adds roughly $150 to $3,000 spent outside the United States.

That is at the high end of this corpus — around the 99th percentile of disclosed foreign transaction fees.

Paying in full

The $3 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

When a payment is late

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

That is 5.75 points above the standard purchase rate. On a $2,500 balance, the shift from 34.24% to 39.99% adds something like $208 of interest over a year — the real cost of the default, quite apart from the fee itself.

Late payments are capped at $41 under this filing, about the 89th percentile of late fee maximums in the corpus.

How it sits in the issuer's own range

Comenity Capital Bank has 100 agreements indexed on this site. Across that lineup purchase rates span 14.74% to 35.99%; this filing's 34.24% sits above 38 of the comparable ones.

Among the issuer's other filings that disclose a fee, 53 of 89 come in below this card's $35.88.

What is outside the disclosure

The disclosure parsed here does not state a grace period. 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.

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.

Where the authority sits

Everything here is a reading of the filed agreement, 19 pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

The pricing here is middling by the standards of the index — 34.24% on purchases is near enough to typical. Against that sits the $35.88 annual fee, which is unavoidable once the account is open.