Credit Card Disclosures Ultimate

Credit Card Disclosures Ultimate, as filed by Firstbank Puerto Rico, carries a purchase APR of 16.75%–29%, no annual fee, a 15-month 0% opening period and a 29.99% penalty rate. That purchase rate ranks near the 69th percentile across this corpus of 4,587 filings.

What the document actually states

Firstbank Puerto Rico submitted the terms for Credit Card Disclosures Ultimate to the CFPB's agreement database; this is what they contain. The filing runs three pages.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line. It is silent on a grace period.

Zero percent, and then what

A 15-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 29%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $673 a year on $2,000.

The promotional window is therefore worth something on the order of $841 on $2,000, measured against the same balance priced at the standard rate for the same period.

Pricing the purchase rate

Rather than a single purchase rate, the document gives a band — 16.75% at the bottom, 29% at the top, 12.25 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 43rd percentile at the bottom and the 69th at the top.

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 rate discussed in this section is the go-to rate — the one that applies once the promotional period described below has ended, not the promotional rate itself.

What the rate means in dollars

At the disclosed purchase APR, $5,000 revolving for a full year costs something like $1,681 in interest.

A card priced at the corpus median of 21.99% would charge roughly $1,229 on that balance. This one charges about $452 more per year.

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

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.

Cash advances carry a cash advance fee of $2 or 2% of the advance, whichever is greater and a cash advance APR of 25.25%. $100 is the crossover point where the percentage overtakes the $2 minimum. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Moving a balance onto this card carries an up-front charge of 2% of the amount transferred, with the transferred balance priced at 16.75%. Transferring $2,000 would cost roughly $40 at the door.

Spending abroad costs an extra 1.4% — about $70 on $5,000 of purchases, independent of interest.

Penalty pricing and late fees

If the account defaults, the filing permits a rate of 29.99%. Among disclosing agreements here that ranks near the 61st percentile.

The maximum late fee is $35 — roughly the 54th percentile of the late fee ceilings disclosed across this index.

Against the rest of Firstbank Puerto Rico's filings

Firstbank Puerto Rico has 19 agreements indexed on this site. Every one of the others that discloses a purchase rate discloses the same 29%, so the issuer's filings are near-identical on pricing and the differences between its cards lie outside the rate table.

What you cannot learn from the filing

The disclosure parsed here does not state a grace period. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

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 document itself

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

In short

The pricing here is middling by the standards of the index — 29% on purchases is near enough to typical.