2 Pa027 20220930

On the record for 2 PA027 20220930: a 32.15% purchase APR, a $25 annual fee and a 0% opening rate, filed by 1st Financial Bank USA. Against the 4,587 filings on this site, that rate lands around the 76th percentile.

On the face of the filing

2 PA027 20220930 is one of the agreements 1st Financial Bank USA has on file with the CFPB. The filing runs one page.

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

Zero percent, and then what

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 32.15%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $758 a year on $2,000.

The purchase rate in context

Measured against every other filing on the site, 32.15% is about the 76th percentile for purchase APR; it comes in above the median.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

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

The cost of carrying a balance

Carry $2,000 on this card for a year without paying it down and the purchase rate alone generates roughly $758 in interest.

Against the corpus median of 21.99%, that is approximately $266 a year of extra interest on the same $2,000.

Per statement cycle that is on the order of $53.53 on $2,000, 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.

The fee structure

$25 a year is the disclosed annual fee, which ranks near the 78th percentile of the fees filed across this corpus.

Expressed in the card's own terms, the $25 fee equals about a year's interest on a $78 balance at the disclosed 32.15% purchase rate.

For cash advances the filing discloses a cash advance fee of $3 or 3% of the advance, whichever is greater and a cash advance APR of 32.15%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transfers are charged $3 or 3% of the amount transferred, whichever is greater, though no distinct transfer APR appears in the document. Transferring $3,000 would cost roughly $90 at the door.

What a missed payment costs

On the fee side, a late payment can cost up to $41, which is around the 89th percentile here.

The grace period

21 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. With a corpus median of 25 days, this window is narrower than the norm.

The issuer's other agreements

23 separate 1st Financial Bank USA filings appear in the corpus. Their disclosed purchase rates run from 29.9% to 35.15%, and this one at 32.15% is more expensive than 2 of them.

Its $25 annual fee is higher than 0 of the 9 sibling filings that state one.

What you cannot learn from the filing

Absent from the captured terms: a foreign transaction fee and penalty pricing. 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 filed PDF is linked from this page and runs one page. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

At 32.15% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. The $25 annual fee is charged regardless of use, so it is a cost that applies even to an account that never revolves.