Michigan Tech Alumni Rewards Visa Credit Card Pricing Information

The Michigan Tech Alumni Rewards Visa Credit Card Pricing Information filing quotes margins over Prime instead of finished rates. What that leaves knowable — and what it does not — is the subject of this analysis.

What the agreement puts on the record

The document behind this page is Commerce Bank's filed agreement for Michigan Tech Alumni Rewards Visa Credit Card Pricing Information. It is issued on the Visa network and the filing runs one page.

On the record here: a penalty rate, 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.

The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.

A margin over Prime, not a rate

Pricing here is disclosed in the form "Prime plus a margin". The numbers in this document are therefore the margin component only, and cannot be read as the cost of borrowing on their own.

The margins captured from the filing are 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.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

Fees, and what triggers them

For cash advances the filing discloses a cash advance fee of $10 or 5% of the advance, whichever is greater.

Transfers are charged $10 or 5% of the amount transferred, whichever is greater, though no distinct transfer APR appears in the document. Shifting $1,000 across attracts something like $50 in fees on day one.

The filing sets a 2% foreign transaction fee, which adds roughly $40 to $2,000 spent outside the United States.

Default pricing

$40 is the disclosed ceiling on a late payment fee, placing it near the 72nd percentile of the set.

The no-interest path

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

A minimum interest charge of $2.50 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

What you cannot learn from the filing

Absent from the captured terms: a purchase rate and an annual fee. The original document is the place to look for any of these.

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.

Inside Commerce Bank's filed lineup

This is one of 165 Commerce Bank agreements collected here.

Reading the agreement yourself

This summary stands or falls on the linked PDF — one page. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

The honest summary is that this filing discloses a structure rather than a price. The margins are real and comparable to each other; the cost of borrowing is whatever Prime makes it.