First Classic Pricing Sheet and Agreement

First Command Financial Services's filed agreement for First Classic Pricing Sheet and Agreement discloses a 12.24% purchase APR and no annual fee. The purchase rate sits at roughly the 8th percentile of the 4,587 agreements indexed here.

What the document actually states

First Command Financial Services submitted the terms for First Classic Pricing Sheet and Agreement to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs eight pages.

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 and a penalty rate are not stated.

Pricing the purchase rate

Ranked against the corpus, this purchase APR — 12.24% — sits at approximately the 8th percentile and is comfortably below what most issuers filed.

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, $2,000 revolving for a full year costs something like $260 in interest.

The corpus median purchase rate is 21.99%, which on the same $2,000 would cost about $492 a year. This filing saves roughly $231 annually against that benchmark.

Broken down to a single thirty-day cycle, the same balance accrues roughly $20.22.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

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.

For cash advances the filing discloses a cash advance APR of 12.24%. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

Transfers are charged $2 or 2% of the amount transferred, whichever is greater, though no distinct transfer APR appears in the document. On $5,000 that fee is about $100 before any interest is charged.

Foreign transactions carry no fee. Only about 22% of the filings here that disclose a foreign transaction fee set it at zero, so this is a genuine point of difference.

Default pricing

The maximum late fee is $0 — roughly the 2nd percentile of the late fee ceilings disclosed across this index.

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.

The issuer's other agreements

There are 5 filings from First Command Financial Services in this index. Their disclosed purchase rates run from 16.99% to 18.49%, and this one at 12.24% is more expensive than 0 of them.

What you cannot learn from the filing

Absent from the captured terms: penalty pricing. The original document is the place to look for any of these.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

The document itself

Everything here is a reading of the filed agreement, eight pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

At 12.24% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.