Agreement Secured Credit Card

The Agreement Secured Credit Card filing from PNC Bank sets out a $36 annual fee and a 15.74% penalty rate.

On the face of the filing

PNC Bank filed this agreement for Agreement Secured Credit Card with the Consumer Financial Protection Bureau. The filing runs 14 pages.

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

Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.

Collateral and the deposit

Secured cards work against a deposit held by the issuer. The rate and fee figures summarised here say nothing about the size of that deposit or the terms attached to it, both of which are matters for the agreement text itself.

What the card costs before you borrow

The annual fee is $36, charged whether or not the card is used. Against the filings here that disclose a fee, that sits at roughly the 86th percentile.

Foreign transactions attract 3%. On $1,000 of overseas spending that is $30, 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.

The downside terms

A penalty APR of 15.74% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 5th percentile.

Late payments are capped at $35 under this filing, about the 54th percentile of late fee maximums in the corpus.

The grace period

The filing gives 21 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. With a corpus median of 25 days, this window is narrower than the norm.

A minimum interest charge of $1.50 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

How it sits in the issuer's own range

20 separate PNC Bank filings appear in the corpus.

Among the issuer's other filings that disclose a fee, 13 of 19 come in below this card's $36.

What is outside the disclosure

The disclosure parsed here does not state a purchase rate, anything about cash advances and balance transfer terms. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

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

The original filing, 14 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

Against that sits the $36 annual fee, which is unavoidable once the account is open. All of this rests on figures read from the filing with less than full confidence, which is reason enough to check the document before relying on any of it.