Private Label Card Cardholder Agreement

On the record for Private Label Card Cardholder Agreement: a 36% purchase APR, filed by UMB Bank. That purchase rate ranks near the 99th percentile across this corpus of 4,587 filings.

What the agreement puts on the record

This page covers the agreement UMB Bank filed for Private Label Card Cardholder Agreement. The filing runs six pages.

On the record here: a purchase rate, a late payment maximum and a grace period. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

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.

Pricing the purchase rate

Set beside the rest of the index, the purchase APR of 36% lands at the 99th percentile; it sits in the top few percent of the entire set.

The cost of carrying a balance

Put $1,200 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $520.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $295. The gap — roughly $225 a year on $1,200 — is the price of this particular filing over a typical one.

Per statement cycle that is on the order of $36.02 on $1,200, which is the number that actually shows up on a bill.

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.

Paying in full

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

Default pricing

Late payments are capped at $27 under this filing, about the 45th percentile of late fee maximums in the corpus.

Against the rest of UMB Bank's filings

12 separate UMB Bank filings appear in the corpus. The issuer's own range is 18%–32%. At 36%, this agreement is dearer than 7 of its siblings.

The limits of this document

Absent from the captured terms: anything about cash advances, balance transfer terms, an annual fee and a foreign transaction fee. The original document is the place to look for any of these.

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.

Reading the agreement yourself

The original filing, 6 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

The defining fact about this filing is the purchase rate: at 36% it is in the expensive band of this corpus, and that cost only materialises for someone who revolves a balance. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.