Disclosed rates and fees
Every figure below was read from this issuer's filed agreement. Anything the filing does not state is left out of this table rather than shown as zero.
| Purchase APR | 0% |
|---|---|
| Annual fee | $0 |
| Late payment fee | $0 |
| Minimum interest charge | $0 |
| Network | Mastercard |
Analysis
Credit Sesame Secured MC 05 2023, as filed by Community Federal Savings Bank, carries a 0% purchase APR and no annual fee. That purchase rate ranks near the 1st percentile across this corpus of 4,587 filings.
The disclosed terms
Community Federal Savings Bank submitted the terms for Credit Sesame Secured MC 05 2023 to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs 28 pages.
The disclosure covers a purchase rate, an annual fee line and a late payment maximum. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.
The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.
A secured agreement
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.
Securing the line has not placed this agreement at the bottom of the market — 0% ranks near the 1st percentile across every filing indexed here.
How the purchase rate compares
Ranked against the corpus, this purchase APR — 0% — sits at approximately the 1st percentile and is lower than almost every other agreement here.
What a balance actually costs
A $3,000 balance left untouched for twelve months accrues about $0 in interest at this purchase rate.
Measured against the 21.99% corpus median, the same $3,000 costs approximately $738 less per year here.
Broken down to a single thirty-day cycle, the same balance accrues roughly $0.
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
There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.
What a missed payment costs
Late payments are capped at $0 under this filing, about the 2nd percentile of late fee maximums in the corpus.
The no-interest path
No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.
Inside Community Federal Savings Bank's filed lineup
There are 4 filings from Community Federal Savings Bank in this index.
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.
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.
Where the authority sits
Everything here is a reading of the filed agreement, 28 pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.
In short
0% places this filing at the inexpensive end of the set, which is the headline here. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.
The source document
This page is a reading of one document: the cardholder agreement Community Federal Savings Bank filed with the Consumer Financial Protection Bureau. Where the two disagree, the filing is correct and this page is wrong.
Applications are handled by Community Federal Savings Bank, not by us. We do not take applications and cannot say whether you would be approved.
Other cards from Community Federal Savings Bank
-
Arro Cardholder Agreement
Agreement filed with the CFPB
- Purchase APR
- 16%
- Annual fee
- $50
Where this card sits
Groups this agreement qualifies for, by its own disclosed terms:
Comparable cards from other issuers
Closest disclosed purchase APR among cards in the same groups.