Credit Card Cardholder Agreement and Disclosure

Southern Bank & Trust's filed agreement for Credit Card Cardholder Agreement and Disclosure discloses a purchase APR of 10.99%–21.99%, no annual fee and a 12-month 0% opening period. Against the 4,587 filings on this site, that rate lands around the 49th percentile.

What this filing discloses

Credit Card Cardholder Agreement and Disclosure is one of the agreements Southern Bank & Trust has on file with the CFPB. It is issued on the Visa network and the filing runs five pages.

On the record here: a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a foreign transaction fee. No figure appears for a balance transfer rate, a penalty rate and a grace period.

Zero percent, and then what

A 12-month promotional period at 0% is on the record here — during it, qualifying balances cost nothing to carry.

Roughly 458 of the 4,587 filings indexed here disclose a zero-percent introductory rate, so this is a real feature of the document but not a rare one.

The go-to rate is 21.99%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $615 a year on $2,500.

Put the other way round, the 12-month zero rate is worth roughly $615 on a $2,500 balance relative to paying the go-to rate from day one — a real figure, but one that only materialises for someone who was going to carry that balance anyway.

The purchase APR against the corpus

Purchases price between 10.99% and 21.99% under this filing. The 11-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 14th percentile at the bottom and the 49th 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.

The arithmetic of revolving

At the disclosed purchase APR, $3,000 revolving for a full year costs something like $738 in interest.

That is almost exactly what a median-priced filing in this index would charge on the same balance, since the corpus median sits at 21.99%.

Small balances do not get a proportionally small bill — the agreement imposes a $1 minimum interest charge in any month where interest applies.

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

Grace period and minimum charge

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

Default pricing

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

Where the fees are

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.

Cash advances carry a cash advance fee of $5 or 3% of the advance, whichever is greater and a cash advance APR of 21.99%. The two halves of that fee cross at about $167: below it the flat $5 applies, above it the percentage does. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

Transfers are charged $5 or 3% of the amount transferred, whichever is greater, though no distinct transfer APR appears in the document. On $1,000 that fee is about $30 before any interest is charged.

The filing sets a 2% foreign transaction fee, which adds roughly $20 to $1,000 spent outside the United States.

The limits of this document

The disclosure parsed here does not state a grace period and penalty pricing. 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

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

In short

The pricing here is middling by the standards of the index — 21.99% on purchases is near enough to typical. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.