FOP Visa Rewards Credit Card Pricing Information

Commerce Bank prices FOP Visa Rewards Credit Card Pricing Information as a margin over the Prime Rate rather than as a fixed APR, so the filing discloses the spread but not the cost. This page explains what that means and sets the other disclosed terms against the corpus.

What the agreement puts on the record

FOP Visa Rewards Credit Card Pricing Information is one of the agreements Commerce Bank has on file with the CFPB. It is issued on the Visa network and the filing runs one page.

The filing is explicit about a penalty rate, a late payment maximum, a foreign transaction fee and a grace period. It is silent on a purchase rate, a cash advance rate and a balance transfer rate.

These figures carry medium extraction confidence — they are reproduced as read from the filing, which remains the authority.

How this filing expresses its pricing

The rate figures in this agreement are expressed as margins over the Prime Rate rather than as absolute APRs. A margin is not a rate: the rate is the margin plus whatever Prime happens to be.

The filing's margin figures come to 23.99 points for penalty pricing.

No cost illustration appears in this section for a reason: multiplying a margin by a balance produces a meaningless number. The real rate is Prime plus the margin, and Prime is not in this document.

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

Charges beyond interest

Taking cash against the card means a cash advance fee of $10 or 5% of the advance, whichever is greater. The two halves of that fee cross at about $200: below it the flat $10 applies, above it the percentage does.

Transfers are charged $10 or 5% of the amount transferred, whichever is greater, though no distinct transfer APR appears in the document. Transferring $3,000 would cost roughly $150 at the door.

Foreign transactions attract 2%. On $1,500 of overseas spending that is $30, charged on top of whatever exchange rate applies.

Penalty pricing and late fees

Late payments are capped at $40 under this filing, about the 72nd percentile of late fee maximums in the corpus.

The no-interest path

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

The $2.50 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

The limits of this document

This page cannot tell you a purchase rate and an annual fee, because the filing's disclosure table as read does not contain them.

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.

The issuer's other agreements

This is one of 165 Commerce Bank agreements collected here.

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

What can be said is how this card is priced, not what it costs. That distinction is the whole of the analysis here, and the agreement is the place to confirm the index it uses.