Rewards Cardmember Agreement fcb com

Rewards Cardmember Agreement fcb com 230620, as filed by First Commonwealth Bank, carries a purchase APR of 16.99%–19.99%, no annual fee and a six-month 0% opening period. The purchase rate sits at roughly the 42nd percentile of the 4,587 agreements indexed here.

On the face of the filing

First Commonwealth Bank submitted the terms for Rewards Cardmember Agreement fcb com 230620 to the CFPB's agreement database; this is what they contain. The filing runs 14 pages.

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. A penalty rate is not stated.

The promotional period

A six-month promotional period at 0% is on the record here — during it, qualifying balances cost nothing to carry.

Zero-percent openings appear in roughly 458 of the filings on this site, which puts this agreement in a sizeable minority rather than a class of its own.

The go-to rate is 19.99%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $1,106 a year on $5,000.

Put the other way round, the six-month zero rate is worth roughly $553 on a $5,000 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 — 16.99% at the bottom, 19.99% at the top, 3 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Those two numbers occupy very different places in the corpus: roughly the 44th percentile at the bottom and the 42nd at the top.

Translating the rate into money

At the disclosed purchase APR, $2,500 revolving for a full year costs something like $553 in interest.

The corpus median purchase rate is 21.99%, which on the same $2,500 would cost about $615 a year. This filing saves roughly $62 annually against that benchmark.

Per statement cycle that is on the order of $41.40 on $2,500, which is the number that actually shows up on a bill.

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

Charges beyond interest

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.

Cash advances carry a cash advance fee of $5 or 3% of the advance, whichever is greater and a cash advance APR of 35%. Cash is therefore 15.01 points dearer than buying something with the card. Advances under roughly $167 are charged the flat $5; larger ones are charged 3%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 35%; no separate transfer fee was captured from the filing.

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

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

The grace period

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

Penalty pricing and late fees

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

The issuer's other agreements

18 separate First Commonwealth Bank filings appear in the corpus. The issuer's own range is 18.49%–19.99%. At 19.99%, this agreement is dearer than 4 of its siblings.

What you cannot learn from the filing

This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.

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 14 pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

19.99% 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.