Cardholder Agreement Signature (Groundwork)

The 20260101 Cardholder Agreement Signature (Groundwork) filing from Mrv Banks sets out a purchase APR of 18.74%–22.74%, no annual fee and a 29.99% penalty rate. The purchase rate sits at roughly the 52nd percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

20260101 Cardholder Agreement Signature (Groundwork) is one of the agreements Mrv Banks has on file with the CFPB. It is issued on the Visa network and the filing runs 26 pages.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line.

The purchase rate was taken from a row the filing did not clearly label, so there is some risk it describes a different balance type.

Where the purchase APR sits

The purchase APR is quoted as a range of 18.74% to 22.74%. That 4-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 58th percentile at the bottom and the 52nd at the top.

Translating the rate into money

At the disclosed purchase APR, $1,000 revolving for a full year costs something like $255 in interest.

Against the corpus median of 21.99%, that is approximately $9 a year of extra interest on the same $1,000.

Broken down to a single thirty-day cycle, the same balance accrues roughly $18.86.

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

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

Taking cash against the card means a cash advance fee of $5 or 3% of the advance, whichever is greater and a cash advance APR of 29.99%. The premium over purchases is 7.25 percentage points. $167 is the crossover point where the percentage overtakes the $5 minimum.

The transfer fee is $5 or 3% of the amount transferred, whichever is greater; transferred balances then run at 29.99%. Shifting $2,000 across attracts something like $60 in fees on day one.

Foreign transactions carry no fee. Only about 22% of the filings here that disclose a foreign transaction fee set it at zero, so this is a genuine point of difference.

What a missed payment costs

If the account defaults, the filing permits a rate of 29.99%. Among disclosing agreements here that ranks near the 61st percentile.

The jump from 22.74% to 29.99% is 7.25 percentage points, worth roughly $283 extra per year on $3,000 of balance.

$35 is the disclosed ceiling on a late payment fee, placing it near the 54th percentile of the set.

Paying in full

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.

The $1 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

The issuer's other agreements

This is one of 10 Mrv Banks agreements collected here. Their disclosed purchase rates run from 18% to 35.99%, and this one at 22.74% is more expensive than 2 of them.

On fees, 0 of the 7 sibling filings that disclose an annual fee also set it at zero — this one is among them.

What the filing does not tell you

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.

Go to the source

This summary stands or falls on the linked PDF — 26 pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

22.74% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.