Rewards Visa Cardholder Agreement and Disclosures

Northwest Bank's filed agreement for Rewards Visa Cardholder Agreement and Disclosures discloses a purchase APR of 9.74%–17.74%, no annual fee, a 8.99% introductory rate and a 21.99% penalty rate. Against the 4,587 filings on this site, that rate lands around the 23rd percentile.

On the face of the filing

Northwest Bank submitted the terms for Rewards Visa Cardholder Agreement and Disclosures to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs 18 pages.

On the record here: a purchase rate, a cash advance rate, a balance transfer rate, a penalty rate and an annual fee line.

The introductory rate

The filing discloses an introductory rate of 8.99% but no term for it.

Among the 763 filings here that disclose an introductory rate, 8.99% sits at about the 91st percentile.

Behind the promotion sits a 17.74% purchase rate. On $5,000 that is in the region of $970 a year once the window closes.

The purchase APR against the corpus

The purchase APR is quoted as a range of 9.74% to 17.74%. That 8-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

Read against the index, the low end ranks around the 9th percentile and the high end around the 23rd — the band straddles a wide stretch of the market this corpus describes.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

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

Carry $1,200 on this card for a year without paying it down and the purchase rate alone generates roughly $233 in interest.

Priced at the median of 21.99%, that balance would generate about $295 in a year — so this agreement comes in around $62 cheaper for the same debt.

Month to month it reads as about $17.62 per cycle on that balance.

There is also a floor: the filing sets a minimum interest charge of $0.50, so any cycle that accrues less than that is billed at $0.50 anyway.

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.

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.

For cash advances the filing discloses a cash advance fee of $10 or 3% of the advance, whichever is greater and a cash advance APR of 14.74%. Advances under roughly $333 are charged the flat $10; larger ones are charged 3%.

The transfer fee is $10 or 3% of the amount transferred, whichever is greater; transferred balances then run at 9.74%. On $2,000 that fee is about $60 before any interest is charged.

Spending abroad costs an extra 1% — about $15 on $1,500 of purchases, independent of interest.

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.

Where interest applies at all, the filing bills at least $0.50. On a tiny balance that floor can dwarf the rate itself.

When a payment is late

The agreement discloses penalty pricing of 21.99% — about the 32nd percentile of the 794 penalty rates recorded across this index.

That is 4.25 points above the standard purchase rate. On a $2,500 balance, the shift from 17.74% to 21.99% adds something like $130 of interest over a year — the real cost of the default, quite apart from the fee itself.

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

Against the rest of Northwest Bank's filings

This is one of 3 Northwest Bank agreements collected here. Across that lineup purchase rates span 21.99% to 35%; this filing's 17.74% sits above 0 of the comparable ones.

The limits of this document

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Where the authority sits

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

17.74% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.