Consumer Credit Card Agreement and Disclosure Statement 2023 11

Pricing in Zions Bancorporation's Consumer Credit Card Agreement and Disclosure Statement 2023 11 01 agreement is expressed relative to the Prime Rate. This review treats those figures as margins, which is what they are, and compares the fee terms that can be compared.

On the face of the filing

What follows is drawn entirely from Zions Bancorporation's CFPB filing for Consumer Credit Card Agreement and Disclosure Statement 2023 11 01. The filing runs 16 pages, and It is issued on the Visa network.

The filing is explicit about an annual fee line, a late payment maximum and a grace period. A purchase rate, a cash advance rate and a balance transfer rate are not stated.

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

How this filing expresses its pricing

Pricing here is disclosed in the form "Prime plus a margin". The numbers in this document are therefore the margin component only, and cannot be read as the cost of borrowing on their own.

Because the filing prices off an index, the dollar cost of a balance cannot be computed from the document alone. It is the current Prime Rate that completes the sum, and that changes.

The disclosure table in this document parsed only moderately cleanly; the numbers are reported as read, with that caveat attached.

The fee structure

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.

Cash advances carry a cash advance fee of $10 or 3% of the advance, whichever is greater.

A balance transfer costs $10 or 3% of the amount transferred, whichever is greater up front. The filing does not separately state the rate applied to transferred balances. On $2,000 that fee is about $60 before any interest is charged.

The downside terms

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

Paying in full

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

A minimum interest charge of $1 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

Inside Zions Bancorporation's filed lineup

10 separate Zions Bancorporation filings appear in the corpus. Their disclosed purchase rates run from 14.04% to 14.04%, though this particular filing does not state one in comparable form.

4 of the issuer's other 6 disclosing filings are likewise fee-free.

What is outside the disclosure

The disclosure parsed here does not state a purchase rate, a foreign transaction fee and penalty pricing. 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.

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.

Reading the agreement yourself

Everything here is a reading of the filed agreement, 16 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 honest summary is that this filing discloses a structure rather than a price. The margins are real and comparable to each other; the cost of borrowing is whatever Prime makes it.