ip toggle visa

The ip toggle visa filing quotes margins over Prime instead of finished rates. What that leaves knowable — and what it does not — is the subject of this analysis.

What the agreement puts on the record

This page covers the agreement Commerce Bank filed for ip toggle visa. The filing runs one page.

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

Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.

Priced off the Prime Rate

The rate figures in this agreement are expressed as margins over the Prime Rate rather than as absolute APRs. A margin is not a rate: the rate is the margin plus whatever Prime happens to be.

The filing's margin figures come to 23.99 points for penalty pricing.

This structure makes the card impossible to price from the filing in isolation — and deliberately so. The rate is whatever Prime is when the statement closes, plus the margin above.

Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.

The downside terms

On the fee side, a late payment can cost up to $40, which is around the 72nd percentile here.

Fees, and what triggers them

Taking cash against the card means a cash advance fee of $10 or 5% of the advance, whichever is greater.

A balance transfer costs $10 or 5% of the amount transferred, whichever is greater up front. The filing does not separately state the rate applied to transferred balances. Transferring $3,000 would cost roughly $150 at the door.

The filing sets a 2% foreign transaction fee, which adds roughly $60 to $3,000 spent outside the United States.

Paying in full

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.

A minimum interest charge of $2.50 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

How it sits in the issuer's own range

165 separate Commerce Bank filings appear in the corpus.

What is outside the disclosure

This page cannot tell you a purchase rate and an annual fee, because the filing's disclosure table as read does not contain them.

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

Margins over Prime make this agreement legible but not priceable from the document alone. Treat the figures above as structure, and look up the current Prime Rate before drawing conclusions.