Lindenwood Rewards Visa Card Pricing Information

The Lindenwood Rewards Visa Card Pricing Information 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 document actually states

The document behind this page is Commerce Bank's filed agreement for Lindenwood Rewards Visa Card Pricing Information. The filing runs one page, and It is issued on the Visa network.

The disclosure covers a penalty rate, a late payment maximum, a foreign transaction fee and a grace period. A purchase rate, a cash advance rate and a balance transfer rate are not stated.

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

Margins, not APRs

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.

As read from the document: 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.

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

Default pricing

Late payments are capped at $40 under this filing, about the 72nd percentile of late fee maximums in the corpus.

Charges beyond interest

For cash advances the filing discloses 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. Shifting $3,000 across attracts something like $150 in fees on day one.

Foreign transactions attract 2%. On $1,500 of overseas spending that is $30, charged on top of whatever exchange rate applies.

The no-interest path

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

Where interest applies at all, the filing bills at least $2.50. On a tiny balance that floor can dwarf the rate itself.

Inside Commerce Bank's filed lineup

165 separate Commerce Bank filings appear in the corpus.

The limits of this document

The disclosure parsed here does not state a purchase rate and an annual fee. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Go to the source

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

The honest summary is that this filing discloses a structure rather than a price. The margins are real and comparable to each other; the cost of borrowing is whatever Prime makes it.