Power Travel Rewards World MasterCard Agreement and Disclosure

On the record for Power Travel Rewards World MasterCard Agreement and Disclosure: a purchase APR of 15.75%–16.75% and a six-month 0% opening period, filed by Security Service Federal Credit Union. The purchase rate sits at roughly the 19th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

Security Service Federal Credit Union filed this agreement for Power Travel Rewards World MasterCard Agreement and Disclosure with the Consumer Financial Protection Bureau. The filing runs seven pages, and It is issued on the Mastercard network.

On the record here: a purchase rate, a late payment maximum, a foreign transaction fee and a grace period. It is silent on a cash advance rate, a balance transfer rate and a penalty rate.

The promotional period

The filing discloses a 0% introductory rate running six months. For that window, balances covered by the promotion accrue no interest at all.

Zero-percent openings appear in roughly 458 of the filings on this site, which puts this agreement in a sizeable minority rather than a class of its own.

The go-to rate is 16.75%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $182 a year on $1,000.

The promotional window is therefore worth something on the order of $91 on $1,000, measured against the same balance priced at the standard rate for the same period.

The purchase rate in context

The purchase APR is quoted as a range of 15.75% to 16.75%. That 1-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

The floor of that band sits at about the 38th percentile of filed purchase rates; the ceiling sits at about the 19th. 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.

To be precise about which number this is: the filing identifies it as the rate that takes over after the introductory period, not the introductory rate.

The cost of carrying a balance

A $1,500 balance left untouched for twelve months accrues about $273 in interest at this purchase rate.

Priced at the median of 21.99%, that balance would generate about $369 in a year — so this agreement comes in around $95 cheaper for the same debt.

Month to month it reads as about $20.79 per cycle on that balance.

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 grace period

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

The downside terms

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

Where the fees are

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.

Against the rest of Security Service Federal Credit Union's filings

There are 6 filings from Security Service Federal Credit Union in this index. 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 anything about cash advances, balance transfer terms, an annual fee and penalty pricing, because the filing's disclosure table as read does not contain them.

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.

Go to the source

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

In short

The purchase rate of 16.75% is one of the cheaper figures in this index — the central point in the agreement's favour.