Regular Credit Card Agreement and Pricing Addendum

On the record for Regular Credit Card Agreement and Pricing Addendum: no annual fee and a six-month 0% opening period, filed by First Service Credit Union.

What the agreement puts on the record

First Service Credit Union submitted the terms for Regular Credit Card Agreement and Pricing Addendum to the CFPB's agreement database; this is what they contain. The filing runs five pages.

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

Parsing confidence here is medium, so treat the figures as indicative of the filing rather than a substitute for it.

What the promotional rate is worth

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

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 filing captures the promotional rate but not the rate that replaces it. That is the more important of the two numbers, and it is not on this page — the agreement itself has to be read for it.

The downside terms

The maximum late fee is $25 — roughly the 32nd percentile of the late fee ceilings disclosed across this index.

What the card costs before you borrow

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.

Spending abroad costs an extra 1% — about $15 on $1,500 of purchases, independent of interest.

Paying in full

The filing gives 21 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. The typical filing here allows 25 days, so this one is tighter than most.

The $1 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

What the filing does not tell you

This page cannot tell you a purchase rate, anything about cash advances, balance transfer terms and penalty pricing, because the filing's disclosure table as read does not contain them.

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

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

In short

Given the parsing confidence on this filing, read the agreement itself before treating any of these figures as settled.