Power MasterCard Agreement and Disclosure

On the record for Power MasterCard Agreement and Disclosure: a purchase APR of 12.24%–18%, filed by Security Service Federal Credit Union. The purchase rate sits at roughly the 34th percentile of the 4,587 agreements indexed here.

The disclosed terms

The document behind this page is Security Service Federal Credit Union's filed agreement for Power MasterCard Agreement and Disclosure. The filing runs six pages, and It is issued on the Mastercard network.

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

Pricing the purchase rate

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.

The floor of that band sits at about the 18th percentile of filed purchase rates; the ceiling sits at about the 34th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

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

At the disclosed purchase APR, $1,500 revolving for a full year costs something like $296 in interest.

The corpus median purchase rate is 21.99%, which on the same $1,500 would cost about $369 a year. This filing saves roughly $73 annually against that benchmark.

Broken down to a single thirty-day cycle, the same balance accrues roughly $22.35.

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.

Where the fees are

For cash advances the filing discloses a cash advance APR of 12.24%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Transferred balances are priced at 8.9%; no separate transfer fee was captured from the filing.

Spending abroad costs an extra 1.1% — about $55 on $5,000 of purchases, independent of interest.

The grace period

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing. That matches the 25-day median across the corpus almost exactly.

Default pricing

The maximum late fee is $25 — roughly the 32nd percentile of the late fee ceilings disclosed across this index.

Inside Security Service Federal Credit Union's filed lineup

Security Service Federal Credit Union has 6 agreements indexed on this site. The issuer's own range is 16.75%–18%. At 18%, this agreement is dearer than 1 of its siblings.

What you cannot learn from the filing

Absent from the captured terms: an annual fee and 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.

Where the authority sits

The original filing, 6 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

18% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.