Southern Bank Cardholder Consumer CC ALL T&C Q4

The Southern Bank Cardholder Consumer CC ALL T&C Q4 2024 filing from First-Citizens Bank & Trust sets out a purchase APR of 15.24%–26.24%, no annual fee and a 12-month 0% opening period. The purchase rate sits at roughly the 63rd percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

First-Citizens Bank & Trust filed this agreement for Southern Bank Cardholder Consumer CC ALL T&C Q4 2024 with the Consumer Financial Protection Bureau. The filing runs five pages, and It is issued on the Visa network.

Terms captured from the document include a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a foreign transaction fee. A balance transfer rate, a penalty rate and a grace period are not stated.

Zero percent, and then what

This agreement opens at 0% for 12 months, the only period in the document where carrying a balance is free.

Roughly 458 of the 4,587 filings indexed here disclose a zero-percent introductory rate, so this is a real feature of the document but not a rare one.

Behind the promotion sits a 26.24% purchase rate. On $2,500 that is in the region of $750 a year once the window closes.

Put the other way round, the 12-month zero rate is worth roughly $750 on a $2,500 balance relative to paying the go-to rate from day one — a real figure, but one that only materialises for someone who was going to carry that balance anyway.

Where the purchase APR sits

Rather than a single purchase rate, the document gives a band — 15.24% at the bottom, 26.24% at the top, 11 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Read against the index, the low end ranks around the 35th 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.

The arithmetic of revolving

At the disclosed purchase APR, $3,000 revolving for a full year costs something like $900 in interest.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $738. The gap — roughly $162 a year on $3,000 — is the price of this particular filing over a typical one.

Month to month it reads as about $65.38 per cycle on that balance.

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.

Where the fees are

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

For cash advances the filing discloses a cash advance fee of $5 or 3% of the advance, whichever is greater and a cash advance APR of 26.24%. Advances under roughly $167 are charged the flat $5; larger ones are charged 3%.

A balance transfer costs $5 or 3% 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 $30 at the door.

The filing sets a 2% foreign transaction fee, which adds roughly $60 to $3,000 spent outside the United States.

The no-interest path

The $1 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

The downside terms

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

Against the rest of First-Citizens Bank & Trust's filings

6 separate First-Citizens Bank & Trust filings appear in the corpus. The issuer's own range is 22.49%–26.24%. At 26.24%, this agreement is dearer than 4 of its siblings.

What the filing does not tell you

The disclosure parsed here does not state a grace period and penalty pricing. 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.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

The document itself

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

26.24% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.