ScotiaLine Cash Secured

On the record for ScotiaLine Cash Secured: a 6% purchase APR, no annual fee and a 1.99% introductory rate, filed by Oriental Bank - Hato Rey - Pinero Branch. Against the 4,587 filings on this site, that rate lands around the 2nd percentile.

The disclosed terms

ScotiaLine Cash Secured is one of the agreements Oriental Bank - Hato Rey - Pinero Branch has on file with the CFPB. The filing runs six pages.

The disclosure covers a purchase rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

The row carrying the purchase rate is unlabelled in the original document; it is reported here as the most likely purchase figure rather than a certain one.

The promotional period

An introductory rate of 1.99% appears without a disclosed duration.

Among the 763 filings here that disclose an introductory rate, 1.99% sits at about the 66th percentile.

What matters more than the promotion is the rate waiting behind it: 6%. A $3,000 balance that survives the promotional window costs roughly $185 a year from that point on.

The purchase APR against the corpus

6% puts the purchase APR near the 2nd percentile across 2,280 agreements, so it is lower than almost every other agreement here.

Translating the rate into money

The purchase rate turns a $1,000 revolving balance into roughly $62 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $1,000 would cost about $246 a year. This filing saves roughly $184 annually against that benchmark.

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

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.

Transfers are charged a flat $0, though no distinct transfer APR appears in the document.

Spending abroad costs an extra 1% — about $30 on $3,000 of purchases, independent of interest.

Default pricing

$30 is the disclosed ceiling on a late payment fee, placing it near the 49th percentile of the set.

The no-interest path

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

Against the rest of Oriental Bank - Hato Rey - Pinero Branch's filings

This is one of 10 Oriental Bank - Hato Rey - Pinero Branch agreements collected here. The others all file the same 6% purchase rate. Whatever separates these products, it is not the cost of borrowing.

1 of the issuer's other 4 disclosing filings are likewise fee-free.

The limits of this document

Absent from the captured terms: anything about cash advances and penalty pricing. 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

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

In short

6% places this filing at the inexpensive end of the set, which is the headline here.