Student Cardmember Agreement fcb com

First Commonwealth Bank's filed agreement for Student Cardmember Agreement fcb com 230620 discloses a purchase APR of 16.99%–19.99%, no annual fee and a six-month 0% opening period. That purchase rate ranks near the 42nd percentile across this corpus of 4,587 filings.

What this filing discloses

What follows is drawn entirely from First Commonwealth Bank's CFPB filing for Student Cardmember Agreement fcb com 230620. The filing runs 14 pages.

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

The promotional period

A six-month promotional period at 0% is on the record here — during it, qualifying balances cost nothing to carry.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

Behind the promotion sits a 19.99% purchase rate. On $3,000 that is in the region of $664 a year once the window closes.

The promotional window is therefore worth something on the order of $332 on $3,000, measured against the same balance priced at the standard rate for the same period.

How the purchase rate compares

The purchase APR is quoted as a range of 16.99% to 19.99%. That 3-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 44th percentile and the high end around the 42nd — the band straddles a wide stretch of the market this corpus describes.

Translating the rate into money

A $1,000 balance left untouched for twelve months accrues about $221 in interest at this purchase rate.

The corpus median purchase rate is 21.99%, which on the same $1,000 would cost about $246 a year. This filing saves roughly $25 annually against that benchmark.

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.

Grace period and minimum charge

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

The downside terms

On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.

The fee structure

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

For cash advances the filing discloses a cash advance fee of $5 or 3% of the advance, whichever is greater and a cash advance APR of 35%. The premium over purchases is 15.01 percentage points. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 35%; no separate transfer fee was captured from the filing.

Foreign transactions attract 3%. On $1,000 of overseas spending that is $30, charged on top of whatever exchange rate applies.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

The issuer's other agreements

18 separate First Commonwealth Bank filings appear in the corpus. Their disclosed purchase rates run from 18.49% to 19.99%, and this one at 19.99% is more expensive than 4 of them.

What the filing does not tell you

The disclosure parsed here does not state penalty pricing. 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.

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 14 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

At 19.99% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.