Secured Visa Card Summary of Credit Terms

Secured Visa Card Summary of Credit Terms, as filed by Union Bank, carries a 18.99% purchase APR and a $25 annual fee. That purchase rate ranks near the 40th percentile across this corpus of 4,587 filings.

On the face of the filing

This page covers the agreement Union Bank filed for Secured Visa Card Summary of Credit Terms. It is issued on the Visa network and the filing runs four pages.

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

A secured agreement

Secured cards work against a deposit held by the issuer. The rate and fee figures summarised here say nothing about the size of that deposit or the terms attached to it, both of which are matters for the agreement text itself.

It is worth noting that collateral does not automatically mean a cheap rate: at 18.99%, this filing's purchase APR still sits at about the 40th percentile of the whole corpus, secured and unsecured filings alike.

Pricing the purchase rate

At 18.99%, the purchase APR falls at roughly the 40th percentile of the 2,280 filings indexed here, which sits below the middle of the distribution.

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 the rate means in dollars

Carry $5,000 on this card for a year without paying it down and the purchase rate alone generates roughly $1,045 in interest.

The corpus median purchase rate is 21.99%, which on the same $5,000 would cost about $1,229 a year. This filing saves roughly $184 annually against that benchmark.

There is also a floor: the filing sets a minimum interest charge of $1.75, so any cycle that accrues less than that is billed at $1.75 anyway.

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.

The fee structure

Holding the card costs $25 a year before any transaction takes place — about the 78th percentile among agreements in this index that state a fee.

Expressed in the card's own terms, the $25 fee equals about a year's interest on a $132 balance at the disclosed 18.99% purchase rate.

Cash advances carry a cash advance fee of $15 or 5% of the advance, whichever is greater and a cash advance APR of 25.25%. Cash is therefore 6.26 points dearer than buying something with the card. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

The filing discloses a 18.99% balance transfer rate without an accompanying fee figure.

The filing sets a 3% foreign transaction fee, which adds roughly $150 to $5,000 spent outside the United States.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

What a missed payment costs

The filing explicitly states that no penalty APR applies. That is worth noting: a default on this account does not, by the terms of this document, reprice the whole balance upward.

On the fee side, a late payment can cost up to $37, which is around the 59th percentile here.

Grace period and minimum charge

A minimum interest charge of $1.75 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

The limits of this document

The disclosure parsed here does not state a grace period. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

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.

Inside Union Bank's filed lineup

There are 7 filings from Union Bank in this index. Across that lineup purchase rates span 19.99% to 23.99%; this filing's 18.99% sits above 0 of the comparable ones.

Go to the source

The filed PDF is linked from this page and runs four pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

18.99% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. Against that sits the $25 annual fee, which is unavoidable once the account is open.