Secured Visa Card Terms and Conditions

Secured Visa Card Terms and Conditions, as filed by Union Bank & Trust, carries a 21.24% purchase APR and a $35 annual fee. Against the 4,587 filings on this site, that rate lands around the 46th percentile.

What the document actually states

The document behind this page is Union Bank & Trust's filed agreement for Secured Visa Card Terms and Conditions. It is issued on the Visa network and the filing runs four pages.

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

What "secured" changes

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 21.24%, this filing's purchase APR still sits at about the 46th percentile of the whole corpus, secured and unsecured filings alike.

How the purchase rate compares

At 21.24%, the purchase APR falls at roughly the 46th percentile of the 2,280 filings indexed here, which is unremarkable against the rest of the set.

The filing marks this rate as variable, which means it moves with the index the agreement names rather than staying where it is quoted today.

Translating the rate into money

Carry $1,000 on this card for a year without paying it down and the purchase rate alone generates roughly $237 in interest.

Measured against the 21.99% corpus median, the same $1,000 costs approximately $9 less per year here.

There is also a floor: the filing sets a minimum interest charge of $2, so any cycle that accrues less than that is billed at $2 anyway.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

What the card costs before you borrow

$35 a year is the disclosed annual fee, which ranks near the 82nd percentile of the fees filed across this corpus.

One way to size that fee: at the card's own purchase rate of 21.24%, $35 is roughly the interest a balance of about $165 would generate in a year. The fee is a fixed cost that behaves like perpetual interest on that much debt.

Cash advances carry a cash advance fee of $10 or 4% of the advance, whichever is greater and a cash advance APR of 24.24%. Cash is therefore 3 points dearer than buying something with the card. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

Moving a balance onto this card carries an up-front charge of $5 or 3% of the amount transferred, whichever is greater, with the transferred balance priced at 21.24%. Transferring $1,000 would cost roughly $30 at the door.

Spending abroad costs an extra 3% — about $30 on $1,000 of purchases, independent of interest.

That is at the high end of this corpus — around the 91st percentile of disclosed foreign transaction fees.

Penalty pricing and late fees

On the fee side, a late payment can cost up to $37, which is around the 59th percentile here.

The no-interest path

A minimum interest charge of $2 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

How it sits in the issuer's own range

There are 7 filings from Union Bank & Trust in this index. The issuer's own range is 21.24%–23.24%. At 21.24%, this agreement is dearer than 0 of its siblings.

Among the issuer's other filings that disclose a fee, 4 of 6 come in below this card's $35.

What the filing does not tell you

The disclosure parsed here does not state a grace period 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.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Go to the source

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

In short

The pricing here is middling by the standards of the index — 21.24% on purchases is near enough to typical. The $35 annual fee is charged regardless of use, so it is a cost that applies even to an account that never revolves.