CFPB Sep 30,

First Commonwealth Federal Credit Union's filed agreement for Cfpb Sep 30, 2023 discloses a 18% purchase APR and no annual fee. That purchase rate ranks near the 34th percentile across this corpus of 4,587 filings.

What this filing discloses

First Commonwealth Federal Credit Union submitted the terms for Cfpb Sep 30, 2023 to the CFPB's agreement database; this is what they contain. 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. A penalty rate is not stated.

Where the purchase APR sits

The purchase APR of 18% places this agreement around the 34th percentile of the set — it comes in under the midpoint of the corpus.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

The cost of carrying a balance

The purchase rate turns a $2,000 revolving balance into roughly $394 of annual interest.

Measured against the 21.99% corpus median, the same $2,000 costs approximately $97 less per year here.

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

When a payment is late

On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.

What the card costs before you borrow

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 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.

No foreign transaction fee is charged, which puts this filing in the roughly 22% of disclosing agreements here that do not take a cut of overseas spending.

The no-interest path

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

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

Inside First Commonwealth Federal Credit Union's filed lineup

This is one of 5 First Commonwealth Federal Credit Union agreements collected here. Their disclosed purchase rates run from 16.75% to 18%, and this one at 18% is more expensive than 1 of them.

What is outside the disclosure

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

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.

Reading the agreement yourself

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

The pricing here is middling by the standards of the index — 18% on purchases is near enough to typical. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.