VISA Share Secured Disclosure

The VISA Share Secured Disclosure filing from Truity Federal Credit Union sets out a 14.99% purchase APR and no annual fee. Against the 4,587 filings on this site, that rate lands around the 15th percentile.

The disclosed terms

What follows is drawn entirely from Truity Federal Credit Union's CFPB filing for VISA Share Secured Disclosure. It is issued on the Visa network and the filing runs four pages.

Terms captured from the document include a purchase rate, an annual fee line, a late payment maximum and a foreign transaction fee. A cash advance rate, a balance transfer rate and a penalty rate are not stated.

What "secured" changes

This is a secured agreement — the credit line is collateralised by a deposit. The disclosure table captured on this page covers pricing only; the mechanics of the deposit live in the body of the document.

It is worth noting that collateral does not automatically mean a cheap rate: at 14.99%, this filing's purchase APR still sits at about the 15th percentile of the whole corpus, secured and unsecured filings alike.

How the purchase rate compares

At 14.99%, the purchase APR falls at roughly the 15th percentile of the 2,280 filings indexed here, which is comfortably below what most issuers filed.

This filing states a fixed purchase rate, which sets it apart from the variable pricing that dominates the rest of the index.

The arithmetic of revolving

Carry $1,200 on this card for a year without paying it down and the purchase rate alone generates roughly $194 in interest.

Priced at the median of 21.99%, that balance would generate about $295 in a year — so this agreement comes in around $101 cheaper for the same debt.

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.

Fees, and what triggers them

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.

Foreign transactions attract 1%. On $1,500 of overseas spending that is $15, charged on top of whatever exchange rate applies.

What a missed payment costs

On the fee side, a late payment can cost up to $28, which is around the 46th percentile here.

The issuer's other agreements

Truity Federal Credit Union has 5 agreements indexed on this site. Every one of the others that discloses a purchase rate discloses the same 18%, so the issuer's filings are near-identical on pricing and the differences between its cards lie outside the rate table.

What is outside the disclosure

This page cannot tell you anything about cash advances, balance transfer terms, a grace period and penalty pricing, because the filing's disclosure table as read does not contain them.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

The document itself

The original filing, 4 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

14.99% places this filing at the inexpensive end of the set, which is the headline here. The absence of an annual fee means the rate is the only thing that can make this card expensive.