UMD Affinity Visa Disclosure Agreement

UMD Affinity Visa Disclosure Agreement, as filed by State Employees Credit Union of Maryland, carries a purchase APR of 17.74%–24%, no annual fee and a 12-month 0% opening period. That purchase rate ranks near the 58th percentile across this corpus of 4,587 filings.

On the face of the filing

UMD Affinity Visa Disclosure Agreement is one of the agreements State Employees Credit Union of Maryland has on file with the CFPB. It is issued on the Visa network and the filing runs 11 pages.

The disclosure covers a purchase rate, a balance transfer rate, an annual fee line, a late payment maximum and a foreign transaction fee. No figure appears for a cash advance rate and a penalty rate.

What the promotional rate is worth

This agreement opens at 0% for 12 months, the only period in the document where carrying a balance is free.

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.

Behind the promotion sits a 24% purchase rate. On $2,500 that is in the region of $678 a year once the window closes.

Valued honestly, 12 months at zero on $2,500 avoids about $678 of interest compared with the go-to rate — the whole of what the promotion delivers.

How the purchase rate compares

Rather than a single purchase rate, the document gives a band — 17.74% at the bottom, 24% at the top, 6.26 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 48th percentile of filed purchase rates; the ceiling sits at about the 58th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

The arithmetic of revolving

At the disclosed purchase APR, $1,200 revolving for a full year costs something like $325 in interest.

Against the corpus median of 21.99%, that is approximately $30 a year of extra interest on the same $1,200.

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.

What the card costs before you borrow

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.

Balance transfers cost 0% of the amount transferred up front and then accrue at 3%. On $1,000 that fee is about $0 before any interest is charged.

The foreign transaction fee is zero — a minority position in this corpus, where roughly 22% of disclosing filings waive it.

Penalty pricing and late fees

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

Grace period and minimum charge

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.

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

How it sits in the issuer's own range

State Employees Credit Union of Maryland has 9 agreements indexed on this site. 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 penalty pricing, because the filing's disclosure table as read does not contain it.

More broadly, a CFPB agreement filing is a legal and pricing document. It does not describe rewards, benefits, sign-up offers, eligibility or approval criteria, and nothing of that kind has been inferred on this page. Where a card has features of that sort, they live outside this document entirely.

The document itself

The original filing, 11 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

24% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.