42C0173 Credit Builder Secured Visa Credit Card Agreement Disclosures

The 42C0173 Credit Builder Secured Visa Credit Card Agreement Disclosures filing from Red Canoe Credit Union sets out a purchase APR of 14.9%–19.9%, no annual fee and a 19.9% penalty rate. The purchase rate sits at roughly the 42nd percentile of the 4,587 agreements indexed here.

On the face of the filing

The document behind this page is Red Canoe Credit Union's filed agreement for 42C0173 Credit Builder Secured Visa Credit Card Agreement Disclosures. It is issued on the Visa network and the filing runs five pages.

Terms captured from the document include a purchase rate, a penalty rate, an annual fee line and a late payment maximum. No figure appears for a cash advance rate, a balance transfer rate and a foreign transaction fee.

These figures carry medium extraction confidence — they are reproduced as read from the filing, which remains the authority.

What "secured" changes

The product name identifies this as a secured card, which means the account is backed by a deposit the cardholder provides. The filing indexed here discloses rates and fees; it is the agreement text that governs how the deposit is held, when it is applied and under what conditions it is returned.

Securing the line has not placed this agreement at the bottom of the market — 19.9% ranks near the 42nd percentile across every filing indexed here.

The purchase APR against the corpus

Rather than a single purchase rate, the document gives a band — 14.9% at the bottom, 19.9% at the top, 5 points wide. The agreement discloses the range without disclosing how an account is placed within it.

The floor of that band sits at about the 32nd percentile of filed purchase rates; the ceiling sits at about the 42nd. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The cost of carrying a balance

A $2,500 balance left untouched for twelve months accrues about $550 in interest at this purchase rate.

The corpus median purchase rate is 21.99%, which on the same $2,500 would cost about $615 a year. This filing saves roughly $64 annually against that benchmark.

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.

When a payment is late

A penalty APR of 19.9% sits in this filing, applied when the account falls into default as the agreement defines it. Against the 794 filings here that disclose one, that is roughly the 26th percentile.

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.

The fee structure

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.

Against the rest of Red Canoe Credit Union's filings

Red Canoe Credit Union has 5 agreements indexed on this site.

What you cannot learn from the filing

Absent from the captured terms: anything about cash advances, balance transfer terms, a foreign transaction fee and a grace period. The original document is the place to look for any of these.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

The document itself

The original filing, 5 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

The pricing here is middling by the standards of the index — 19.9% 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. All of this rests on figures read from the filing with less than full confidence, which is reason enough to check the document before relying on any of it.