Visa Power Card Account Opening Disclosure

Visa Power Card Account Opening Disclosure, as filed by Utilities Employees Credit Union, carries a purchase APR of 8.99%–17.99%, no annual fee and a 1.99% introductory rate. The purchase rate sits at roughly the 28th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

What follows is drawn entirely from Utilities Employees Credit Union's CFPB filing for Visa Power Card Account Opening Disclosure. It is issued on the Visa network and the filing runs two pages.

On the record here: 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.

Introductory pricing

An introductory rate of 1.99% appears without a disclosed duration.

Among the 763 filings here that disclose an introductory rate, 1.99% sits at about the 66th percentile.

Once the introductory period ends the rate becomes 17.99%, which turns a lingering $2,500 balance into approximately $493 of annual interest.

The purchase APR against the corpus

Rather than a single purchase rate, the document gives a band — 8.99% at the bottom, 17.99% at the top, 9 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 7th percentile of filed purchase rates; the ceiling sits at about the 28th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

The rate discussed in this section is the go-to rate — the one that applies once the promotional period described below has ended, not the promotional rate itself.

What a balance actually costs

A $1,000 balance left untouched for twelve months accrues about $197 in interest at this purchase rate.

The corpus median purchase rate is 21.99%, which on the same $1,000 would cost about $246 a year. This filing saves roughly $49 annually against that benchmark.

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 a missed payment costs

The maximum late fee is $20 — roughly the 17th percentile of the late fee ceilings disclosed across this index.

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.

For cash advances the filing discloses a cash advance APR of 8.99%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

The filing discloses a 8.99% balance transfer rate without an accompanying fee figure.

Spending abroad costs an extra 1% — about $10 on $1,000 of purchases, independent of interest.

The grace period

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

The issuer's other agreements

There are 3 filings from Utilities Employees Credit Union in this index.

The limits of this document

This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.

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.

The document itself

The original filing, 2 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

At 17.99% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.