SECU Starter Visa Disclosure Agreement

On the record for SECU Starter Visa Disclosure Agreement: a 20.24% purchase APR and no annual fee, filed by State Employees Credit Union of Maryland. The purchase rate sits at roughly the 43rd percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

State Employees Credit Union of Maryland submitted the terms for SECU Starter Visa Disclosure Agreement to the CFPB's agreement database; this is what they contain. It is issued on the Visa network and the filing runs ten pages.

The disclosure covers a purchase rate, a balance transfer rate, an annual fee line, a late payment maximum and a foreign transaction fee. No figure appears for a cash advance rate and a penalty rate.

Pricing the purchase rate

At 20.24%, the purchase APR falls at roughly the 43rd percentile of the 2,280 filings indexed here, which lands near the median.

The agreement labels the purchase rate variable, so the quoted figure reflects the index at the time of filing rather than a locked-in price.

What a balance actually costs

A $1,000 balance left untouched for twelve months accrues about $224 in interest at this purchase rate.

A typical filing in this index would charge about $246 on that balance; this one is roughly $22 a year below it.

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

Fees, and what triggers them

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

The transfer fee is 0% of the amount transferred; transferred balances then run at 3%. Transferring $7,500 would cost roughly $0 at the door.

The foreign transaction fee is zero — a minority position in this corpus, where roughly 22% of disclosing filings waive it.

Penalty pricing and late fees

$25 is the disclosed ceiling on a late payment fee, placing it near the 32nd percentile of the set.

The no-interest path

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

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

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. Their disclosed purchase rates run from 18.24% to 24%, and this one at 20.24% is more expensive than 2 of them.

What the filing does not tell you

The disclosure parsed here does not state 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.

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.

Reading the agreement yourself

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

In short

20.24% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.