Brooks Brothers World Mastercard® (1)

On the record for Brooks Brothers World Mastercard┬« (1): a purchase APR of 19.74%–33.24% and no annual fee, filed by First Electronic Bank. Against the 4,587 filings on this site, that rate lands around the 78th percentile.

The disclosed terms

First Electronic Bank submitted the terms for Brooks Brothers World Mastercard® (1) to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs 18 pages.

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

The purchase APR against the corpus

The purchase APR is quoted as a range of 19.74% to 33.24%. That 13.5-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 60th percentile and the high end around the 78th — 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 arithmetic of revolving

Put $1,200 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $473.

A card priced at the corpus median of 21.99% would charge roughly $295 on that balance. This one charges about $178 more per year.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

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.

Default pricing

Late payments are capped at $35 under this filing, about the 54th percentile of late fee maximums in the corpus.

Paying in full

21 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. The typical filing here allows 25 days, so this one is tighter than most.

What the filing does not tell you

The disclosure parsed here does not state anything about cash advances, balance transfer terms, a foreign transaction fee and 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.

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.

Against the rest of First Electronic Bank's filings

There are 23 filings from First Electronic Bank in this index. Their disclosed purchase rates run from 29.49% to 35.99%, and this one at 33.24% is more expensive than 8 of them.

On fees, 12 of the 18 sibling filings that disclose an annual fee also set it at zero — this one is among them.

Go to the source

Everything here is a reading of the filed agreement, 18 pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

At 33.24% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.