Secured Credit Card Agreement and Disclosure

The St. Marys State Bank's filed agreement for Secured Credit Card Agreement and Disclosure discloses a 15.2% purchase APR, no annual fee and a 0% opening rate. Against the 4,587 filings on this site, that rate lands around the 15th percentile.

What this filing discloses

The St. Marys State Bank submitted the terms for Secured Credit Card Agreement and Disclosure to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs 12 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. It is silent on a penalty rate and a grace period.

The interest-free window

The filing discloses a 0% introductory rate, though it does not state how long the promotional period runs.

Zero-percent openings appear in roughly 458 of the filings on this site, which puts this agreement in a sizeable minority rather than a class of its own.

The go-to rate is 15.2%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $328 a year on $2,000.

The purchase APR against the corpus

At 15.2%, the purchase APR falls at roughly the 15th percentile of the 2,280 filings indexed here, which reads as inexpensive against the rest of the filings.

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 rate discussed in this section is the go-to rate — the one that applies once the promotional period described below has ended, not the promotional rate itself.

What a balance actually costs

At the disclosed purchase APR, $4,000 revolving for a full year costs something like $656 in interest.

Measured against the 21.99% corpus median, the same $4,000 costs approximately $327 less per year here.

Per statement cycle that is on the order of $50.28 on $4,000, which is the number that actually shows up on a bill.

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

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

The downside terms

On the fee side, a late payment can cost up to $0, which is around the 2nd percentile here.

Fees, and what triggers them

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.

Taking cash against the card means a cash advance APR of 15.2%.

The transfer fee is $10 or 4% of the amount transferred, whichever is greater; transferred balances then run at 15.2%. On $1,000 that fee is about $40 before any interest is charged.

Foreign transactions attract 1%. On $5,000 of overseas spending that is $50, charged on top of whatever exchange rate applies.

Paying in full

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

Against the rest of The St. Marys State Bank's filings

The St. Marys State Bank has 3 agreements indexed on this site. The issuer's own range is 15.2%–19.2%. At 15.2%, this agreement is dearer than 0 of its siblings.

What you cannot learn from the filing

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

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Go to the source

This summary stands or falls on the linked PDF — 12 pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

At 15.2% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.