Secured Cash Rewards Credit Card Agreement and Disclosure

South Carolina Federal Credit Union's filed agreement for Secured Cash Rewards Credit Card Agreement and Disclosure discloses a purchase APR of 14.74%–17.99%, no annual fee and a six-month 0% opening period. That purchase rate ranks near the 28th percentile across this corpus of 4,587 filings.

The disclosed terms

South Carolina Federal Credit Union submitted the terms for Secured Cash Rewards Credit Card Agreement and Disclosure to the CFPB's agreement database; this is what they contain. It is issued on the Mastercard network and the filing runs ten pages.

The disclosure covers a purchase rate, an annual fee line and a grace period. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

What the promotional rate is worth

The filing discloses a 0% introductory rate running six months. For that window, balances covered by the promotion accrue no interest at all.

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.

Behind the promotion sits a 17.99% purchase rate. On $3,000 that is in the region of $591 a year once the window closes.

The promotional window is therefore worth something on the order of $296 on $3,000, measured against the same balance priced at the standard rate for the same period.

Pricing the purchase rate

Purchases price between 14.74% and 17.99% under this filing. The 3.25-point gap between the two is material, and nothing in the agreement indicates where a given account would land.

Read against the index, the low end ranks around the 31st percentile and the high end around the 28th — the band straddles a wide stretch of the market this corpus describes.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

Translating the rate into money

Put $4,000 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $788.

Priced at the median of 21.99%, that balance would generate about $983 in a year — so this agreement comes in around $195 cheaper for the same debt.

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.

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.

The no-interest path

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest. That matches the 25-day median across the corpus almost exactly.

Inside South Carolina Federal Credit Union's filed lineup

There are 12 filings from South Carolina Federal Credit Union in this index. Every one of the others that discloses a purchase rate discloses the same 17.99%, so the issuer's filings are near-identical on pricing and the differences between its cards lie outside the rate table.

The limits of this document

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

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.

Go to the source

Everything here is a reading of the filed agreement, ten 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 — 17.99% on purchases is near enough to typical.