Share Secured Visa Power Card Account Opening Disclosure

On the record for Share Secured Visa Power Card Account Opening Disclosure: a 4.5% purchase APR and no annual fee, filed by Utilities Employees Credit Union. The purchase rate sits at roughly the 2nd percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

Share Secured Visa Power Card Account Opening Disclosure is one of the agreements Utilities Employees Credit Union has on file with the CFPB. It is issued on the Visa network and the filing runs two pages.

The filing is explicit about a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. No figure appears for a penalty rate.

Collateral and the deposit

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.

For context, the 4.5% purchase rate lands around the 2nd percentile of all the agreements on this site, which is the useful comparison regardless of the deposit.

The purchase rate in context

Measured against every other filing on the site, 4.5% is about the 2nd percentile for purchase APR; it is among the very cheapest figures in the whole set.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

The cost of carrying a balance

A $1,200 balance left untouched for twelve months accrues about $55 in interest at this purchase rate.

The corpus median purchase rate is 21.99%, which on the same $1,200 would cost about $295 a year. This filing saves roughly $240 annually against that benchmark.

Month to month it reads as about $4.45 per cycle on that balance.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

The downside terms

On the fee side, a late payment can cost up to $20, which is around the 17th percentile here.

Fees, and what triggers them

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

For cash advances the filing discloses a cash advance APR of 4.5%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 4.5%; no separate transfer fee was captured from the filing.

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

Paying in full

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.

How it sits in the issuer's own range

Utilities Employees Credit Union has 3 agreements indexed on this site.

What the filing does not tell you

Absent from the captured terms: penalty pricing. The original document is the place to look for any of these.

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.

Go to the source

Everything here is a reading of the filed agreement, two 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 purchase rate of 4.5% is one of the cheaper figures in this index — the central point in the agreement's favour. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.