Phi Kappa Phi Rewards Visa Credit Card Pricing Information

The Phi Kappa Phi 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.

On the face of the filing

Commerce Bank filed this agreement for Phi Kappa Phi Rewards Visa Credit Card Pricing Information with the Consumer Financial Protection Bureau. 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. No figure appears for a purchase rate, a cash advance rate and a balance transfer rate.

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

Priced off the Prime Rate

This filing does not quote finished APRs. It states margins — numbers that are added to the Prime Rate to produce the rate actually charged. Everything below should be read that way.

As read from the document: 23.99 points for penalty pricing.

This structure makes the card impossible to price from the filing in isolation — and deliberately so. The rate is whatever Prime is when the statement closes, plus the margin above.

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

Charges beyond interest

Cash advances carry 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.

A balance transfer costs $10 or 5% of the amount transferred, whichever is greater up front. The filing does not separately state the rate applied to transferred balances. On $5,000 that fee is about $250 before any interest is charged.

Foreign transactions attract 2%. On $5,000 of overseas spending that is $100, charged on top of whatever exchange rate applies.

Default pricing

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

The grace period

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 $2.50. On a tiny balance that floor can dwarf the rate itself.

What is outside the disclosure

The disclosure parsed here does not state a purchase rate and an annual fee. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

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.

Against the rest of Commerce Bank's filings

There are 165 filings from Commerce Bank in this index.

Where the authority sits

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

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.