Savings Secured Visa Terms and Conditions

Skyone Federal Credit Union's filed agreement for Savings Secured Visa Terms and Conditions discloses a 10.75% purchase APR and no annual fee. That purchase rate ranks near the 6th percentile across this corpus of 4,587 filings.

What the document actually states

This page covers the agreement Skyone Federal Credit Union filed for Savings Secured Visa Terms and Conditions. The filing runs one page, and It is issued on the Visa network.

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

Confidence in the parse of this filing is moderate rather than high, so the figures below are best checked against the original.

A secured agreement

Secured cards work against a deposit held by the issuer. The rate and fee figures summarised here say nothing about the size of that deposit or the terms attached to it, both of which are matters for the agreement text itself.

It is worth noting that collateral does not automatically mean a cheap rate: at 10.75%, this filing's purchase APR still sits at about the 6th percentile of the whole corpus, secured and unsecured filings alike.

The purchase rate in context

10.75% puts the purchase APR near the 6th percentile across 2,280 agreements, so it falls in the low band of the corpus.

The arithmetic of revolving

A $5,000 balance left untouched for twelve months accrues about $567 in interest at this purchase rate.

Measured against the 21.99% corpus median, the same $5,000 costs approximately $662 less per year here.

Per statement cycle that is on the order of $44.37 on $5,000, which is the number that actually shows up on a bill.

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

When a payment is late

$30 is the disclosed ceiling on a late payment fee, placing it near the 49th percentile of the set.

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.

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.

Inside Skyone Federal Credit Union's filed lineup

Skyone Federal Credit Union has 4 agreements indexed on this site. Pricing across this issuer's filings is uniform at 18% — the rate table does not distinguish one of its cards from another.

What is outside the disclosure

This page cannot tell you anything about cash advances, balance transfer terms, a foreign transaction 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.

Reading the agreement yourself

The original filing, 1 page 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 10.75% the purchase rate is low relative to this corpus, which is the clearest thing the filing has going for it on cost. With no annual fee, the cost of the account is entirely a function of whether a balance is carried. Extraction confidence here is not high, so the conclusions above are provisional on the PDF agreeing with them.