Student Cardmember Agreement fcb com

On the record for Student Cardmember Agreement fcb com 241010: a purchase APR of 16.74%–19.74%, no annual fee and a six-month 0% opening period, filed by First Commonwealth Bank. The purchase rate sits at roughly the 41st percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

Student Cardmember Agreement fcb com 241010 is one of the agreements First Commonwealth Bank has on file with the CFPB. The filing runs 14 pages.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. A penalty rate is not stated.

The promotional period

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

Roughly 458 of the 4,587 filings indexed here disclose a zero-percent introductory rate, so this is a real feature of the document but not a rare one.

The go-to rate is 19.74%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $436 a year on $2,000.

Put the other way round, the six-month zero rate is worth roughly $218 on a $2,000 balance relative to paying the go-to rate from day one — a real figure, but one that only materialises for someone who was going to carry that balance anyway.

How the purchase rate compares

Rather than a single purchase rate, the document gives a band — 16.74% at the bottom, 19.74% at the top, 3 points wide. The agreement discloses the range without disclosing how an account is placed within it.

The floor of that band sits at about the 42nd percentile of filed purchase rates; the ceiling sits at about the 41st. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The arithmetic of revolving

At the disclosed purchase APR, $5,000 revolving for a full year costs something like $1,091 in interest.

Priced at the median of 21.99%, that balance would generate about $1,229 in a year — so this agreement comes in around $139 cheaper for the same debt.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

The downside terms

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.

Fees, and what triggers them

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 fee of $5 or 3% of the advance, whichever is greater and a cash advance APR of 35%. Cash is therefore 15.26 points dearer than buying something with the card. $167 is the crossover point where the percentage overtakes the $5 minimum.

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

Spending abroad costs an extra 3% — about $150 on $5,000 of purchases, independent of interest.

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

Paying in full

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

How it sits in the issuer's own range

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 19.74% is more expensive than 2 of them.

What is outside the disclosure

Absent from the captured terms: penalty pricing. The original document is the place to look for any of these.

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.

Go to the source

The original filing, 14 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

The pricing here is middling by the standards of the index — 19.74% on purchases is near enough to typical.