World of Westgate Mastercard®

On the record for World of Westgate Mastercard┬«: a purchase APR of 19.74%–34.99% and no annual fee, filed by First Electronic Bank. The purchase rate sits at roughly the 84th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

First Electronic Bank submitted the terms for World of Westgate Mastercard® to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs 18 pages.

Terms captured from the document include a purchase rate, an annual fee line, a late payment maximum and a grace period. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.

The purchase rate in context

This is a tiered agreement: the filing discloses a purchase APR anywhere from 19.74% to 34.99%, a spread of 15.25 percentage points. Which end of that band applies is set by the issuer at account opening and the filing does not say how.

The floor of that band sits at about the 60th percentile of filed purchase rates; the ceiling sits at about the 84th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

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.

Translating the rate into money

A $1,200 balance left untouched for twelve months accrues about $502 in interest at this purchase rate.

The median purchase rate across the corpus is 21.99%; the same balance there would cost about $295. The gap — roughly $207 a year on $1,200 — is the price of this particular filing over a typical one.

Per statement cycle that is on the order of $34.99 on $1,200, which is the number that actually shows up on a bill.

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.

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.

When a payment is late

On the fee side, a late payment can cost up to $35, which is around the 54th percentile here.

The no-interest path

21 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. With a corpus median of 25 days, this window is narrower than the norm.

What is outside the disclosure

This page cannot tell you anything about cash advances, balance transfer terms, a foreign transaction fee and penalty pricing, because the filing's disclosure table as read does not contain them.

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.

The issuer's other agreements

First Electronic Bank has 23 agreements indexed on this site. The issuer's own range is 29.49%–35.99%. At 34.99%, this agreement is dearer than 13 of its siblings.

12 of the issuer's other 18 disclosing filings are likewise fee-free.

Reading the agreement yourself

The original filing, 18 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

34.99% on purchases is the number that dominates this agreement. Paid in full each cycle it never applies; carried, it is among the dearer prices in this index.