Pricing Information for Affinity Rewards Credit Card

Commerce Bank prices Pricing Information for Affinity Rewards Credit Card 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 this filing discloses

Commerce Bank filed this agreement for Pricing Information for Affinity Rewards Credit Card with the Consumer Financial Protection Bureau. 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. A purchase rate, a cash advance rate and a balance transfer rate are not stated.

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

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.

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

The practical consequence is that this card has no single disclosed price. The cost of carrying a balance moves whenever the Prime Rate moves, in lockstep and without notice, and no arithmetic on this page can tell you what it costs today.

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

Where the fees are

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.

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. Transferring $1,000 would cost roughly $50 at the door.

Foreign transactions attract 2%. On $3,000 of overseas spending that is $60, charged on top of whatever exchange rate applies.

Default pricing

On the fee side, a late payment can cost up to $40, which is around the 72nd percentile here.

Paying in full

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

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

Against the rest of Commerce Bank's filings

165 separate Commerce Bank filings appear in the corpus.

The limits of this document

Absent from the captured terms: a purchase rate and an annual fee. 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.

Reading the agreement yourself

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

Margins over Prime make this agreement legible but not priceable from the document alone. Treat the figures above as structure, and look up the current Prime Rate before drawing conclusions.