March 09, 2010
It isn't breaking news anymore that credit card companies came under new regulation last month. In the last couple months you may have been receiving notices in the mail from your bank or credit card companies indicating the changes that were to take place. With more regulation to come in August, the government has taken a harder stance on a few of the ways credit card companies make a profit. As an obvious cause-effect scenario, these companies are finding other loopholes to leverage compensating on the profit loss through the new regulations.
Credit Card Solutions From Your Local Credit Union - Financial Center
In an article posted this morning at USA Today, Sandra Block explains in her weekly financial column advice and tips on how to avoid becoming victim to these new loopholes. One of her suggestions is to consider switching to your local credit union for cards. She explains how credit unions are able to have lower fees on credit cards (or no fees at all). According to a survey, median credit union late payment fees are $20, as apposed to $39 from bank credit cards.
If you're looking for a new Indianapolis bank you may want to consider checking out the credit card options at Financial Center. Credit union banking with Financial Center offers virtually all of the options that your current bank provides with the added bonus of lower fees and member-owned customer service.
Some of the features of a VISA Platinum credit card from FCFCU:
- Fixed rate
- Credit line up to $30,000
- No annual fee
- No cash advance fee
- 25 day grace period on purchases
- Skip-a-payment option
- Low 2% minimum payment required
- Automatic payment from account