Prescreen Disclosures MyPower

Kinecta Federal Credit Union's filed agreement for Prescreen Disclosures MyPower discloses a purchase APR of 12.24%–18%, no annual fee and a 5.99% introductory rate. That purchase rate ranks near the 34th percentile across this corpus of 4,587 filings.

What the document actually states

What follows is drawn entirely from Kinecta Federal Credit Union's CFPB filing for Prescreen Disclosures MyPower. It is issued on the Mastercard network and the filing runs two pages.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. A penalty rate is not stated.

The introductory rate

The introductory rate is 5.99%, held for 12 months. It is a discount rather than a holiday — interest still accrues, just more slowly than the go-to rate.

Among the 763 filings here that disclose an introductory rate, 5.99% sits at about the 89th percentile.

Behind the promotion sits a 18% purchase rate. On $5,000 that is in the region of $986 a year once the window closes.

The purchase APR against the corpus

Rather than a single purchase rate, the document gives a band — 12.24% at the bottom, 18% at the top, 5.76 points wide. The agreement discloses the range without disclosing how an account is placed within it.

Those two numbers occupy very different places in the corpus: roughly the 18th percentile at the bottom and the 34th at the top.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

Translating the rate into money

The purchase rate turns a $3,000 revolving balance into roughly $591 of annual interest.

The corpus median purchase rate is 21.99%, which on the same $3,000 would cost about $738 a year. This filing saves roughly $146 annually against that benchmark.

Per statement cycle that is on the order of $44.70 on $3,000, which is the number that actually shows up on a bill.

Small balances do not get a proportionally small bill — the agreement imposes a $1 minimum interest charge in any month where interest applies.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

The downside terms

On the fee side, a late payment can cost up to $25, which is around the 32nd percentile here.

Where the fees are

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 fee of $10 or 3% of the advance, whichever is greater and a cash advance APR of 14.24%. $333 is the crossover point where the percentage overtakes the $10 minimum.

The transfer fee is $10 or 3% of the amount transferred, whichever is greater; transferred balances then run at 12.24%. On $2,000 that fee is about $60 before any interest is charged.

Foreign transactions carry no fee. Only about 22% of the filings here that disclose a foreign transaction fee set it at zero, so this is a genuine point of difference.

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.

Where interest applies at all, the filing bills at least $1. On a tiny balance that floor can dwarf the rate itself.

The issuer's other agreements

Kinecta Federal Credit Union has 3 agreements indexed on this site. The others all file the same 18% purchase rate. Whatever separates these products, it is not the cost of borrowing.

What is outside the disclosure

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

This summary stands or falls on the linked PDF — two pages. Agreements are amended over time, and the filing reflects the terms as submitted rather than as they stand today.

In short

18% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. The absence of an annual fee means the rate is the only thing that can make this card expensive.