Student Cardmember Agreement fcb com

Student Cardmember Agreement fcb com 260105, as filed by First Commonwealth Bank, carries a purchase APR of 15.49%–18.49%, no annual fee and a six-month 0% opening period. Against the 4,587 filings on this site, that rate lands around the 39th percentile.

On the face of the filing

First Commonwealth Bank submitted the terms for Student Cardmember Agreement fcb com 260105 to the CFPB's agreement database; this is what they contain. The filing runs 14 pages.

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.

The interest-free window

This agreement opens at 0% for six months, the only period in the document where carrying a balance is free.

Zero-percent openings appear in roughly 458 of the filings on this site, which puts this agreement in a sizeable minority rather than a class of its own.

The go-to rate is 18.49%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $406 a year on $2,000.

Put the other way round, the six-month zero rate is worth roughly $203 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.

Pricing the purchase rate

The purchase APR is quoted as a range of 15.49% to 18.49%. 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.

Those two numbers occupy very different places in the corpus: roughly the 36th percentile at the bottom and the 39th at the top.

The cost of carrying a balance

The purchase rate turns a $4,000 revolving balance into roughly $812 of annual interest.

Measured against the 21.99% corpus median, the same $4,000 costs approximately $171 less per year here.

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

The fee structure

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

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%. Cash is therefore 16.51 points dearer than buying something with the card. The two halves of that fee cross at about $167: below it the flat $5 applies, above it the percentage does. 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.

Spending abroad costs an extra 3% — about $60 on $2,000 of purchases, independent of interest.

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

Default pricing

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

The issuer's other agreements

First Commonwealth Bank has 18 agreements indexed on this site. Across that lineup purchase rates span 18.49% to 19.99%; this filing's 18.49% sits above 0 of the comparable ones.

14 of the issuer's other 17 disclosing filings are likewise fee-free.

What you cannot learn from the filing

This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.

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

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 18.49% 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.