CFPB Jul 31,

On the record for Cfpb Jul 31, 2023: a 18% purchase APR and no annual fee, filed by First Commonwealth Federal Credit Union. Against the 4,587 filings on this site, that rate lands around the 34th percentile.

What this filing discloses

First Commonwealth Federal Credit Union filed this agreement for Cfpb Jul 31, 2023 with the Consumer Financial Protection Bureau. The filing runs 14 pages, and It is issued on the Visa 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. It is silent on a penalty rate.

Where the purchase APR sits

The purchase APR of 18% places this agreement around the 34th percentile of the set — it undercuts the typical filing.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

The arithmetic of revolving

The purchase rate turns a $1,500 revolving balance into roughly $296 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $1,500 would cost about $369 a year. This filing saves roughly $73 annually against that benchmark.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

The no-interest path

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.

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

When a payment is late

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.

What the card costs before you borrow

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 APR of 18%. 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.

Transferred balances are priced at 18%; no separate transfer fee was captured from the filing.

The foreign transaction fee is zero — a minority position in this corpus, where roughly 22% of disclosing filings waive it.

Inside First Commonwealth Federal Credit Union's filed lineup

There are 5 filings from First Commonwealth Federal Credit Union in this index. Their disclosed purchase rates run from 16.75% to 18%, and this one at 18% is more expensive than 1 of them.

What the filing does not tell you

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.

Where the authority sits

This summary stands or falls on the linked PDF — 14 pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

At 18% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.