Personal Credit Card Rate Disclosure

Personal Credit Card Rate Disclosure, as filed by Washington Trust Bank, carries a 0% purchase APR, no annual fee, a six-month 0% opening period and a 22.74% penalty rate. Against the 4,587 filings on this site, that rate lands around the 1st percentile.

What the agreement puts on the record

The document behind this page is Washington Trust Bank's filed agreement for Personal Credit Card Rate Disclosure. It is issued on the Visa network and the filing runs one page.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line.

What the promotional rate is worth

This agreement opens at 0% for six months, the only period in the document where carrying a balance is free.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

Once the introductory period ends the rate becomes 0%, which turns a lingering $2,000 balance into approximately $0 of annual interest.

How the purchase rate compares

At 0%, the purchase APR falls at roughly the 1st percentile of the 2,280 filings indexed here, which is lower than almost every other agreement here.

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.

This figure is the post-promotional rate. The introductory pricing is handled separately further down.

Translating the rate into money

The purchase rate turns a $1,500 revolving balance into roughly $0 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $1,500 would cost about $369 a year. This filing saves roughly $369 annually against that benchmark.

Note the $1 minimum interest charge, which overrides the arithmetic above whenever the calculated interest falls below it.

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

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

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

When a payment is late

The agreement discloses penalty pricing of 22.74% — about the 32nd percentile of the 794 penalty rates recorded across this index.

Measured in money, moving from 0% to 22.74% costs an extra $510 or so annually on $2,000 — a far larger number than any single late fee.

On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.

What the card costs before you borrow

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 16.74%. The premium over purchases is 16.74 percentage points.

The transfer fee is 4% of the amount transferred; transferred balances then run at 14.74%. On $7,500 that fee is about $300 before any interest is charged.

The filing sets a 3% foreign transaction fee, which adds roughly $90 to $3,000 spent outside the United States.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

Against the rest of Washington Trust Bank's filings

Washington Trust Bank has 6 agreements indexed on this site. Pricing across this issuer's filings is uniform at 0% — the rate table does not distinguish one of its cards from another.

The limits of this document

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.

The document itself

The original filing, 1 page 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 purchase rate of 0% is one of the cheaper figures in this index — the central point in the agreement's favour. The absence of an annual fee means the rate is the only thing that can make this card expensive.