SWOSU Alumni Rewards Visa Credit Card Pricing Information

The SWOSU Alumni Rewards Visa Credit 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.

The disclosed terms

What follows is drawn entirely from Commerce Bank's CFPB filing for SWOSU Alumni Rewards Visa Credit Card Pricing Information. The filing runs one page, and It is issued on the Visa network.

Terms captured from the document include 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.

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

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.

Because the filing prices off an index, the dollar cost of a balance cannot be computed from the document alone. It is the current Prime Rate that completes the sum, and that changes.

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

Penalty pricing and late fees

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

What the card costs before you borrow

Cash advances carry a cash advance fee of $10 or 5% of the advance, whichever is greater. The two halves of that fee cross at about $200: below it the flat $10 applies, above it the percentage does.

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. On $3,000 that fee is about $150 before any interest is charged.

The filing sets a 2% foreign transaction fee, which adds roughly $40 to $2,000 spent outside the United States.

The grace period

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

The $2.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

Inside Commerce Bank's filed lineup

Commerce Bank has 165 agreements indexed on this site.

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.

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.

Where the authority sits

This summary stands or falls on the linked PDF — one page. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

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.