SECU Rewards Visa Disclsoure Agreement

SECU Rewards Visa Disclsoure Agreement, as filed by State Employees Credit Union of Maryland, carries a purchase APR of 17.24%–24%, no annual fee and a 12-month 0% opening period. The purchase rate sits at roughly the 58th percentile of the 4,587 agreements indexed here.

The disclosed terms

State Employees Credit Union of Maryland submitted the terms for SECU Rewards Visa Disclsoure Agreement to the CFPB's agreement database; this is what they contain. The filing runs seven pages, and It is issued on the Visa network.

Terms captured from the document include a purchase rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.

Zero percent, and then what

The filing discloses a 0% introductory rate running 12 months. For that window, balances covered by the promotion accrue no interest at all.

Roughly 458 of the 4,587 filings indexed here disclose a zero-percent introductory rate, so this is a real feature of the document but not a rare one.

The go-to rate is 24%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $1,356 a year on $5,000.

The promotional window is therefore worth something on the order of $1,356 on $5,000, measured against the same balance priced at the standard rate for the same period.

Where the purchase APR sits

The purchase APR is quoted as a range of 17.24% to 24%. That 6.76-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 46th percentile and the high end around the 58th — 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.

What a balance actually costs

Carry $1,200 on this card for a year without paying it down and the purchase rate alone generates roughly $325 in interest.

A card priced at the corpus median of 21.99% would charge roughly $295 on that balance. This one charges about $30 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.

Penalty pricing and late fees

On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.

Where the fees are

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.

No foreign transaction fee is charged, which puts this filing in the roughly 22% of disclosing agreements here that do not take a cut of overseas spending.

Paying in full

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.

Inside State Employees Credit Union of Maryland's filed lineup

This is one of 9 State Employees Credit Union of Maryland agreements collected here. Their disclosed purchase rates run from 18.24% to 24%, and this one at 24% is more expensive than 5 of them.

What is outside the disclosure

This page cannot tell you balance transfer terms and penalty pricing, because the filing's disclosure table as read does not contain them.

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

This summary stands or falls on the linked PDF — seven pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

The pricing here is middling by the standards of the index — 24% on purchases is near enough to typical.