Prime Cardmember Agreement

On the record for Prime Cardmember Agreement 033126: a purchase APR of 17.49%–26.49% and no annual fee, filed by Discover Bank. Against the 4,587 filings on this site, that rate lands around the 63rd percentile.

What the agreement puts on the record

Discover Bank filed this agreement for Prime Cardmember Agreement 033126 with the Consumer Financial Protection Bureau. The filing runs five pages, and It is issued on the Discover network.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. No figure appears for a penalty rate and a foreign transaction fee.

The purchase rate in context

Purchases price between 17.49% and 26.49% under this filing. The 9-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

Read against the index, the low end ranks around the 47th percentile and the high end around the 63rd — the band straddles a wide stretch of the market this corpus describes.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

What a balance actually costs

At the disclosed purchase APR, $1,200 revolving for a full year costs something like $364 in interest.

A card priced at the corpus median of 21.99% would charge roughly $295 on that balance. This one charges about $69 more per year.

Per statement cycle that is on the order of $26.40 on $1,200, which is the number that actually shows up on a bill.

Small balances do not get a proportionally small bill — the agreement imposes a $0.50 minimum interest charge in any month where interest applies.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

The grace period

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That matches the 25-day median across the corpus almost exactly.

Where interest applies at all, the filing bills at least $0.50. On a tiny balance that floor can dwarf the rate itself.

Penalty pricing and late fees

This agreement records no penalty rate at all. Late payment carries a fee, but not the rate increase that many filings in this corpus permit.

On the fee side, a late payment can cost up to $41, which is around the 89th percentile here.

The fee structure

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

Cash advances carry a cash advance fee of $10 or 5% of the advance, whichever is greater and a cash advance APR of 28.49%. That is 2 points above the purchase rate. Advances under roughly $200 are charged the flat $10; larger ones are charged 5%.

Moving a balance onto this card carries an up-front charge of 5% of the amount transferred, with the transferred balance priced at 17.49%. Shifting $2,000 across attracts something like $100 in fees on day one.

Inside Discover Bank's filed lineup

Discover Bank has 3 agreements indexed on this site. Every one of the others that discloses a purchase rate discloses the same 26.49%, so the issuer's filings are near-identical on pricing and the differences between its cards lie outside the rate table.

What you cannot learn from the filing

The disclosure parsed here does not state a foreign transaction 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.

Where the authority sits

The filed PDF is linked from this page and runs five pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

At 26.49% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.