SECU Signature Visa Disclosure Agreement

State Employees Credit Union of Maryland's filed agreement for SECU Signature Visa Disclosure Agreement discloses a purchase APR of 17.74%–24%, no annual fee and a 12-month 0% opening period. That purchase rate ranks near the 58th percentile across this corpus of 4,587 filings.

What the document actually states

This page covers the agreement State Employees Credit Union of Maryland filed for SECU Signature Visa Disclosure Agreement. The filing runs seven pages, and It is issued on the Visa network.

Terms captured from the document include a purchase rate, an annual fee line, a late payment maximum, a foreign transaction fee and a grace period. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

What the promotional rate is worth

This agreement opens at 0% for 12 months, the only period in the document where carrying a balance is free.

About 458 agreements in this corpus carry a zero-percent opening rate; this is one of them.

The go-to rate is 24%. Any balance still outstanding when the promotion lapses starts accruing at that figure — about $271 a year on $1,000.

The promotional window is therefore worth something on the order of $271 on $1,000, measured against the same balance priced at the standard rate for the same period.

The purchase APR against the corpus

Rather than a single purchase rate, the document gives a band — 17.74% at the bottom, 24% at the top, 6.26 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 48th percentile of filed purchase rates; the ceiling sits at about the 58th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

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

What the rate means in dollars

The purchase rate turns a $3,000 revolving balance into roughly $813 of annual interest.

On a median-priced agreement from this index (21.99%) the same $3,000 would run about $738 a year, so this card costs in the region of $76 more annually for the identical balance.

Month to month it reads as about $59.75 per cycle on that balance.

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

What the card costs before you borrow

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.

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.

Paying in full

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.

No minimum interest charge is imposed, so a cycle that accrues a few cents of interest is billed a few cents.

Penalty pricing and late fees

Late payments are capped at $25 under this filing, about the 32nd percentile of late fee maximums in the corpus.

Against the rest of State Employees Credit Union of Maryland's filings

9 separate State Employees Credit Union of Maryland filings appear in the corpus. The issuer's own range is 18.24%–24%. At 24%, this agreement is dearer than 5 of its siblings.

The limits of this document

The disclosure parsed here does not state balance transfer terms and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

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.

Where the authority sits

Everything here is a reading of the filed agreement, seven pages of it, which is linked above and which governs. Terms also change between filings, so the date on the document matters.

In short

At 24% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers.