consumer card agreements safe harbor Prime 5

The consumer card agreements safe harbor Prime 5 50 filing from Bank of the West sets out a purchase APR of 17.24%–25.24%, no annual fee and a 12-month 0% opening period. Against the 4,587 filings on this site, that rate lands around the 61st percentile.

What the document actually states

Bank of the West submitted the terms for consumer card agreements safe harbor Prime 5 50 to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs 35 pages.

The disclosure covers 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.

Zero percent, and then what

A 12-month promotional period at 0% is on the record here — during it, qualifying balances cost nothing to carry.

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

The go-to rate is 25.24%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $717 a year on $2,500.

The promotional window is therefore worth something on the order of $717 on $2,500, measured against the same balance priced at the standard rate for the same period.

How the purchase rate compares

This is a tiered agreement: the filing discloses a purchase APR anywhere from 17.24% to 25.24%, a spread of 8 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

Read against the index, the low end ranks around the 46th percentile and the high end around the 61st — 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

A $2,000 balance left untouched for twelve months accrues about $574 in interest at this purchase rate.

On a median-priced agreement from this index (21.99%) the same $2,000 would run about $492 a year, so this card costs in the region of $82 more annually for the identical balance.

Per statement cycle that is on the order of $41.91 on $2,000, which is the number that actually shows up on a bill.

There is also a floor: the filing sets a minimum interest charge of $1, so any cycle that accrues less than that is billed at $1 anyway.

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.

Grace period and minimum charge

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. 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.

What a missed payment costs

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

Charges beyond interest

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.

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 27.24%. Cash is therefore 2 points dearer than buying something with the card.

The filing discloses a 17.24% balance transfer rate without an accompanying fee figure.

The issuer's other agreements

There are 14 filings from Bank of the West in this index. Their disclosed purchase rates run from 14.24% to 27.74%, and this one at 25.24% is more expensive than 6 of them.

What the filing does not tell you

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.

Where the authority sits

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

25.24% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. The absence of an annual fee means the rate is the only thing that can make this card expensive.