Priority Unlimited Agreement 060123 Rev Final

The Priority Unlimited Agreement 060123 Rev Final filing from First Hawaiian Bank sets out a 18% purchase APR, no annual fee and a 18% penalty rate. Against the 4,587 filings on this site, that rate lands around the 34th percentile.

What the agreement puts on the record

First Hawaiian Bank submitted the terms for Priority Unlimited Agreement 060123 Rev Final to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs five pages.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line. It is silent on a foreign transaction fee.

Where the purchase APR sits

Measured against every other filing on the site, 18% is about the 34th percentile for purchase APR; it sits below the middle of the distribution.

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.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

The arithmetic of revolving

Carry $1,500 on this card for a year without paying it down and the purchase rate alone generates roughly $296 in interest.

Priced at the median of 21.99%, that balance would generate about $369 in a year — so this agreement comes in around $73 cheaper for the same debt.

Small balances do not get a proportionally small bill — the agreement imposes a $1 minimum interest charge in any month where interest applies.

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

Penalty pricing and late fees

A penalty APR of 18% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 19th percentile.

On the fee side, a late payment can cost up to $41, which is around the 89th percentile here.

Where the fees are

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.

Cash advances carry a cash advance fee of $10 or 5% of the advance, whichever is greater and a cash advance APR of 18%. The two halves of that fee cross at about $200: below it the flat $10 applies, above it the percentage does. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

The transfer fee is $5 or 3% of the amount transferred, whichever is greater; transferred balances then run at 18%. Shifting $5,000 across attracts something like $150 in fees on day one.

Grace period and minimum charge

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That matches the 25-day median across the corpus almost exactly.

Where interest applies at all, the filing bills at least $1. On a tiny balance that floor can dwarf the rate itself.

How it sits in the issuer's own range

There are 9 filings from First Hawaiian Bank in this index. The issuer's own range is 14.74%–18%. At 18%, this agreement is dearer than 4 of its siblings.

The limits of this document

Absent from the captured terms: a foreign transaction fee. The original document is the place to look for any of these.

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.

Reading the agreement yourself

This summary stands or falls on the linked PDF — five pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

The pricing here is middling by the standards of the index — 18% on purchases is near enough to typical.