consumer card agreements

consumer card agreements 01 03 2023, as filed by Bank of the West, carries a purchase APR of 18.74%–26.74%, no annual fee and a 12-month 0% opening period. Against the 4,587 filings on this site, that rate lands around the 64th percentile.

What this filing discloses

Bank of the West submitted the terms for consumer card agreements 01 03 2023 to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs 35 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. No figure appears for a penalty rate and a foreign transaction fee.

What the promotional rate is worth

A 12-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.

Once the introductory period ends the rate becomes 26.74%, which turns a lingering $3,000 balance into approximately $919 of annual interest.

The promotional window is therefore worth something on the order of $919 on $3,000, measured against the same balance priced at the standard rate for the same period.

The purchase rate in context

Purchases price between 18.74% and 26.74% under this filing. The 8-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

Read against the index, the low end ranks around the 58th percentile and the high end around the 64th — 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 cost of carrying a balance

The purchase rate turns a $1,200 revolving balance into roughly $368 of annual interest.

On a median-priced agreement from this index (21.99%) the same $1,200 would run about $295 a year, so this card costs in the region of $73 more annually for the identical balance.

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

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

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

For cash advances the filing discloses a cash advance fee of $10 or 4% of the advance, whichever is greater and a cash advance APR of 28.74%. That is 2 points above the purchase rate. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

The filing discloses a 18.74% balance transfer rate without an accompanying fee figure.

The downside terms

The maximum late fee is $41 — roughly the 89th percentile of the late fee ceilings disclosed across this index.

Paying in full

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.

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 foreign transaction fee and penalty pricing, because the filing's disclosure table as read does not contain them.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Against the rest of Bank of the West's filings

This is one of 14 Bank of the West agreements collected here. The issuer's own range is 14.24%–27.74%. At 26.74%, this agreement is dearer than 7 of its siblings.

Reading the agreement yourself

The original filing, 35 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

26.74% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.