Cashback Agree

Cashback Agree, as filed by Huntington National Bank, the, carries a purchase APR of 12.74%–26.74%, no annual fee and a 12-month 0% opening period. That purchase rate ranks near the 64th percentile across this corpus of 4,587 filings.

What this filing discloses

Huntington National Bank, the filed this agreement for Cashback Agree with the Consumer Financial Protection Bureau. The filing runs 18 pages.

Terms captured from the document include a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. No figure appears for a penalty rate and a foreign transaction fee.

The promotional period

This agreement opens at 0% for 12 months, the only period in the document where carrying a balance is free.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

Once the introductory period ends the rate becomes 26.74%, which turns a lingering $5,000 balance into approximately $1,532 of annual interest.

Valued honestly, 12 months at zero on $5,000 avoids about $1,532 of interest compared with the go-to rate — the whole of what the promotion delivers.

The purchase rate in context

The purchase APR is quoted as a range of 12.74% to 26.74%. That 14-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Those two numbers occupy very different places in the corpus: roughly the 21st percentile at the bottom and the 64th at the top.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

Translating the rate into money

Carry $1,200 on this card for a year without paying it down and the purchase rate alone generates roughly $368 in interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $295. The gap — roughly $73 a year on $1,200 — 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.

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

The fee structure

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.

For cash advances the filing discloses a cash advance fee of $10 or 3% of the advance, whichever is greater and a cash advance APR of 24.74%.

The transfer fee is $10 or 3% of the amount transferred, whichever is greater; transferred balances then run at 20.74%. Shifting $7,500 across attracts something like $225 in fees on day one.

The grace period

Purchases carry a 21-day grace period: pay the statement in full inside it and the purchase rate never applies. That is shorter than the 25-day corpus median.

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

When a payment is late

Late payments are capped at $40 under this filing, about the 72nd percentile of late fee maximums in the corpus.

Against the rest of Huntington National Bank, the's filings

There are 38 filings from Huntington National Bank, the in this index. The issuer's own range is 12.24%–30.74%. At 26.74%, this agreement is dearer than 17 of its siblings.

33 of the issuer's other 34 disclosing filings are likewise fee-free.

The limits of this document

This page cannot tell you a foreign transaction fee and penalty pricing, because the filing's disclosure table as read does not contain them.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

The document itself

Everything here is a reading of the filed agreement, 18 pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

At 26.74% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. The absence of an annual fee means the rate is the only thing that can make this card expensive.