Platinum Rewards MasterCard Disclosure

Platinum Rewards MasterCard Disclosure, as filed by First Bank, carries a purchase APR of 12.15%–22.15%, no annual fee and a nine-month 0% opening period. The purchase rate sits at roughly the 50th percentile of the 4,587 agreements indexed here.

What this filing discloses

What follows is drawn entirely from First Bank's CFPB filing for Platinum Rewards MasterCard Disclosure. The filing runs one page, and It is issued on the Mastercard network.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. It is silent on a penalty rate.

Zero percent, and then what

This agreement opens at 0% for nine 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.

The go-to rate is 22.15%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $1,239 a year on $5,000.

The promotional window is therefore worth something on the order of $929 on $5,000, measured against the same balance priced at the standard rate for the same period.

The purchase rate in context

The purchase APR is quoted as a range of 12.15% to 22.15%. That 10-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Read against the index, the low end ranks around the 18th percentile and the high end around the 50th — the band straddles a wide stretch of the market this corpus describes.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

The rate discussed in this section is the go-to rate — the one that applies once the promotional period described below has ended, not the promotional rate itself.

Translating the rate into money

A $4,000 balance left untouched for twelve months accrues about $991 in interest at this purchase rate.

On a median-priced agreement from this index (21.99%) the same $4,000 would run about $983 a year, so this card costs in the region of $8 more annually for the identical balance.

Month to month it reads as about $73.47 per cycle on that balance.

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.

Charges beyond interest

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

Taking cash against the card means a cash advance APR of 15.15%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

The filing discloses a 12.15% balance transfer rate without an accompanying fee figure.

Spending abroad costs an extra 2% — about $20 on $1,000 of purchases, independent of interest.

Paying in full

Anyone clearing the statement balance inside 26 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

When a payment is late

This agreement records no penalty rate at all. Late payment carries a fee, but not the rate increase that many filings in this corpus permit.

The maximum late fee is $25 — roughly the 32nd percentile of the late fee ceilings disclosed across this index.

Against the rest of First Bank's filings

5 separate First Bank filings appear in the corpus. Across that lineup purchase rates span 18.15% to 19.15%; this filing's 22.15% sits above 2 of the comparable ones.

On fees, 1 of the 2 sibling filings that disclose an annual fee also set it at zero — this one is among them.

What the filing does not tell you

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Reading the agreement yourself

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

At 22.15% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.