Mastercard of Visa Pricing Info

On the record for Mastercard of Visa Pricing Info 033123: a 34.4% purchase APR, a $25 annual fee and a 0% opening rate, filed by 1st Financial Bank USA. The purchase rate sits at roughly the 80th percentile of the 4,587 agreements indexed here.

On the face of the filing

1st Financial Bank USA submitted the terms for Mastercard of Visa Pricing Info 033123 to the CFPB's agreement database; this is what they contain. The filing runs one page.

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

The interest-free window

The filing discloses a 0% introductory rate, though it does not state how long the promotional period runs.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

Behind the promotion sits a 34.4% purchase rate. On $5,000 that is in the region of $2,052 a year once the window closes.

Pricing the purchase rate

34.4% puts the purchase APR near the 80th percentile across 2,280 agreements, so it lands high in the distribution.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

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 cost of carrying a balance

Put $1,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $410.

A card priced at the corpus median of 21.99% would charge roughly $246 on that balance. This one charges about $164 more per year.

Month to month it reads as about $28.66 per cycle on that balance.

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.

Paying in full

Anyone clearing the statement balance inside 21 days pays no purchase interest at all under this filing. That is shorter than the 25-day corpus median.

Default pricing

Late payments are capped at $41 under this filing, about the 89th percentile of late fee maximums in the corpus.

What the card costs before you borrow

The annual fee is $25, charged whether or not the card is used. Against the filings here that disclose a fee, that sits at roughly the 78th percentile.

Cash advances carry a cash advance fee of $3 or 3% of the advance, whichever is greater and a cash advance APR of 34.4%. The two halves of that fee cross at about $100: below it the flat $3 applies, above it the percentage does.

A balance transfer costs $3 or 3% of the amount transferred, whichever is greater up front. The filing does not separately state the rate applied to transferred balances. Transferring $3,000 would cost roughly $90 at the door.

How it sits in the issuer's own range

This is one of 23 1st Financial Bank USA agreements collected here. Across that lineup purchase rates span 29.9% to 35.15%; this filing's 34.4% sits above 6 of the comparable ones.

Among the issuer's other filings that disclose a fee, 0 of 9 come in below this card's $25.

What you cannot learn from the filing

Absent from the captured terms: a foreign transaction fee and 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

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

In short

34.4% on purchases is the number that dominates this agreement. Paid in full each cycle it never applies; carried, it is among the dearer prices in this index. Against that sits the $25 annual fee, which is unavoidable once the account is open.