World Finance Smile Agreement

On the record for World Finance Smile Agreement: a purchase APR of 27.74%–35.99% and a $400 annual fee, filed by Continental Bank. That purchase rate ranks near the 97th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

This page covers the agreement Continental Bank filed for World Finance Smile Agreement. The filing runs eight pages, and It is issued on the Visa network.

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

How the purchase rate compares

Purchases price between 27.74% and 35.99% under this filing. The 8.25-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

Those two numbers occupy very different places in the corpus: roughly the 72nd percentile at the bottom and the 97th at the top.

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

Put $1,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $433.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $246. The gap — roughly $187 a year on $1,000 — is the price of this particular filing over a typical one.

Note the $1 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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.

What a missed payment costs

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

Fees, and what triggers them

Holding the card costs $400 a year before any transaction takes place — about the 99th percentile among agreements in this index that state a fee.

One way to size that fee: at the card's own purchase rate of 35.99%, $400 is roughly the interest a balance of about $1,111 would generate in a year. The fee is a fixed cost that behaves like perpetual interest on that much debt.

Foreign transactions attract 3%. On $2,000 of overseas spending that is $60, charged on top of whatever exchange rate applies.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

Grace period and minimum charge

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

A minimum interest charge of $1 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

The issuer's other agreements

Continental Bank has 10 agreements indexed on this site. Across that lineup purchase rates span 34.25% to 35.5%; this filing's 35.99% sits above 7 of the comparable ones.

Its $400 annual fee is higher than 9 of the 9 sibling filings that state one.

The limits of this document

Absent from the captured terms: anything about cash advances, balance transfer terms and penalty pricing. The original document is the place to look for any of these.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Where the authority sits

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

In short

35.99% on purchases is the number that dominates this agreement. Paid in full each cycle it never applies; carried, it is among the dearer prices in this index. Note that the $400 annual fee falls due whether the card is used or not.