SECU Secured Visa Disclosure Agreeement

SECU Secured Visa Disclosure Agreeement, as filed by State Employees Credit Union of Maryland, carries a 18.24% purchase APR and no annual fee. The purchase rate sits at roughly the 38th percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

SECU Secured Visa Disclosure Agreeement is one of the agreements State Employees Credit Union of Maryland has on file with the CFPB. It is issued on the Visa network and the filing runs ten pages.

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

What "secured" changes

This is a secured agreement — the credit line is collateralised by a deposit. The disclosure table captured on this page covers pricing only; the mechanics of the deposit live in the body of the document.

Securing the line has not placed this agreement at the bottom of the market — 18.24% ranks near the 38th percentile across every filing indexed here.

The purchase APR against the corpus

Ranked against the corpus, this purchase APR — 18.24% — sits at approximately the 38th percentile and is on the cheaper side of the median.

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

A $1,500 balance left untouched for twelve months accrues about $300 in interest at this purchase rate.

Measured against the 21.99% corpus median, the same $1,500 costs approximately $69 less per year here.

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

Where the fees are

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

Balance transfers cost 0% of the amount transferred up front and then accrue at 3%. Transferring $7,500 would cost roughly $0 at the door.

No foreign transaction fee is charged, which puts this filing in the roughly 22% of disclosing agreements here that do not take a cut of overseas spending.

What a missed payment costs

The maximum late fee is $0 — roughly the 2nd percentile of the late fee ceilings disclosed across this index.

Paying in full

Anyone clearing the statement balance inside 25 days pays no purchase interest at all under this filing.

The filing sets the minimum interest charge at zero — small balances are not rounded up to a floor.

How it sits in the issuer's own range

State Employees Credit Union of Maryland has 9 agreements indexed on this site. Across that lineup purchase rates span 18.49% to 24%; this filing's 18.24% sits above 0 of the comparable ones.

What the filing does not tell you

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

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

Go to the source

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

In short

18.24% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern.