The Family Handyman MasterCard with Rewards Credit Card Pricing Information

Commerce Bank prices The Family Handyman MasterCard with 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

Commerce Bank filed this agreement for The Family Handyman MasterCard with Rewards Credit Card Pricing Information with the Consumer Financial Protection Bureau. The filing runs one page, and It is issued on the Mastercard network.

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.

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

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.

The filing's margin figures come to 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.

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

Paying in full

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

Where interest applies at all, the filing bills at least $2.50. On a tiny balance that floor can dwarf the rate itself.

When a payment is late

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

Charges beyond interest

Cash advances carry a cash advance fee of $10 or 5% of the advance, whichever is greater. Advances under roughly $200 are charged the flat $10; larger ones are charged 5%.

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. Shifting $5,000 across attracts something like $250 in fees on day one.

Spending abroad costs an extra 2% — about $30 on $1,500 of purchases, independent of interest.

The issuer's other agreements

There are 165 filings from Commerce Bank in this index.

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.

The document itself

The original filing, 1 page 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

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.