How are credit card interest rates calculated?

SDCCU calculates credit card interest rates using your Average Daily Balance. The daily interest rate, based on your Annual Percentage Rate (APR), is applied to your balance each day during the billing cycle.

APR (Annual Percentage Rate) is the yearly interest rate charged on credit card balances, expressed as a percentage.

What is the difference between APR and interest rates?

The difference between APR and interest rates is that APR (Annual Percentage Rate) includes both the interest rate and any additional fees or costs associated with the loan, giving you a broader view of the total cost of borrowing. The interest rate, on the other hand, only refers to the percentage charged on the principal amount borrowed.

SDCCU Visa Credit Card Rates

Application and Solicitation Disclosure

Effective November 20, 2024 and subject to change.
View a printable PDF.

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VISA SIGNATURE (VARIABLE)
VISA PLATINUM (VARIABLE)
SHARE SECURED VISA CLASSIC (FIXED)
APPLICATION AND SOLICITATION DISCLOSURE

Discover competitive rates for your SDCCU Visa^® credit card . Whether you're looking to manage your balance or enjoy the perks of a rewards card, SDCCU offers a variety of Visa credit cards with rates designed to suit your financial needs. Explore our current rates and find the best fit for your lifestyle.

Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Purchases	Visa Signature (Variable) 17.49%, 18.49%, 19.49%, 20.49% or 23.49% when you open your account, based on your creditworthiness. This APR will vary with the market based on the Prime Rate. Visa Platinum (Variable) 15.49%, 16.49%, 17.49%, 18.49% or 21.49% when you open your account, based on your creditworthiness. This APR will vary with the market based on the Prime Rate. Share Secured Visa Classic (Fixed) 15.00%
APR for Balance Transfers	Visa Signature (Variable) 21.49%, 22.49%, 23.49%, 24.49% or 27.49% when you open your account, based on your creditworthiness. This APR will vary with the market based on the Prime Rate. Visa Platinum (Variable) 19.49%, 20.49%, 21.49%, 22.49% or 25.49% when you open your account, based on your creditworthiness. This APR will vary with the market based on the Prime Rate. Share Secured Visa Classic (Fixed) 15.00%
APR for Cash Advances	Visa Signature (Variable) 21.49%, 22.49%, 23.49%, 24.49% or 27.49% when you open your account, based on your creditworthiness. This APR will vary with the market based on the Prime Rate. Visa Platinum (Variable) 19.49%, 20.49%, 21.49%, 22.49% or 25.49% when you open your account, based on your creditworthiness. This APR will vary with the market based on the Prime Rate. Share Secured Visa Classic (Fixed) 15.00%
How to Avoid Paying Interest on Purchases	Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month.
For Credit Card Tips from the Consumer Financial Protection Bureau	To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at www.consumerfinance.gov/learnmore.
Fees
Annual Fees
Annual Fee - Visa Signature (Variable)	$99.00
Annual Fee - Visa Platinum (Variable)	None
Annual Fee - Share Secured Classic (Fixed)	$20.00
Transaction Fees
Balance Transfer Fee	Either $1.00 or 2.00% of the amount of each balance transfer, whichever is greater
Cash Advance Fee	Either $1.00 or 2.00% of the amount of each cash advance, whichever is greater
Foreign Transaction Fee: Visa Signature (Variable)	0.00% of each transaction in U.S. dollars
Foreign Transaction Fee: Visa Platinum (Variable) and Share Secured Visa Classic (Fixed)	3.00% of each transaction in U.S. dollars
Penalty Fees
Late Payment Fee	Up to $10.00
Returned Payment Fee	Up to $20.00
Other Fees and Disclosures
Fly Miles Plus^® Reward Program - Visa Platinum (Variable) and Share Secured Visa Classic (Fixed)	$35.00 annually. This program fee is charged to all accounts that elect to have SDCCU’s Fly Miles Plus Reward Program. This fee is waived if annual purchases are $6,000.00 or more. The Fly Miles Plus Reward Program is not available on the Visa Signature (Variable).
Late Payment Fee	$10.00 or the amount of the required minimum payment, whichever is less, if you are 11 or more days late in making a payment.
Returned Payment Fee	$20.00 or the amount of the required minimum payment, whichever is less.
Card Replacement Fee	$5.00 each
Statement Copy Fee	$5.00 per document
Non-CO-OP ATM Withdrawal Fee	$3.00 each
Non-CO-OP ATM Inquiry Fee	$1.00 per inquiry
International ATM Withdrawal Fee	$5.00 each

How We Will Calculate Your Balance: We use a method called “average daily balance” (including new purchases).
Effective Date: The information about the costs of the card described in this application is accurate as of the date shown above. This information may have changed after that date. To find out what may have changed, contact SDCCU at (877) 732-2848.
Share Secured Visa Classic (Fixed) Card: Credit extended under this credit card account is secured by a portion of the shares you have on deposit at SDCCU. You will be asked to sign a Pledge of Shares document, and the amount of the pledge will be equal to 120% of the approved credit limit.
For California Borrowers, the Share Secured Visa Classic is a secured credit card. Credit extended under this credit card account is secured by various personal property and money including, but not limited to: (a) any goods you purchase with this account, (b) any shares you specifically pledge as collateral for this account on a separate Pledge of Shares, (c) all shares you have in any individual or joint account with the Credit Union excluding shares in an Individual Retirement Account or in any other account that would lose special tax treatment under state or federal law, and (d) collateral securing other loans you have with the Credit Union excluding dwellings. Notwithstanding the foregoing, you acknowledge and agree that during any periods when you are a covered borrower under the Military Lending Act your credit card will be secured by any specific Pledge of Shares you grant us but will not be secured by all shares you have in any individual or joint account with the Credit Union. For clarity, you will not be deemed a covered borrower if: (i) you establish your credit card account when you are not a covered borrower; or (ii) you cease to be a covered borrower.

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FAQS

Frequently Asked Questions

How are credit card interest rates calculated?

SDCCU calculates credit card interest rates using your Average Daily Balance. The daily interest rate, based on your Annual Percentage Rate (APR), is applied to your balance each day during the billing cycle.
What is APR?

APR (Annual Percentage Rate) is the yearly interest rate charged on credit card balances, expressed as a percentage.
What is the difference between APR and interest rates?

The difference between APR and interest rates is that APR (Annual Percentage Rate) includes both the interest rate and any additional fees or costs associated with the loan, giving you a broader view of the total cost of borrowing. The interest rate, on the other hand, only refers to the percentage charged on the principal amount borrowed.