5 Reasons to Have a Credit Union Credit Card
A credit union credit card is issued to members of our credit union and comes with a number of protections and benefits, which your bank may not be able to provide.
5 Reasons To Have A Credit Union Credit Card:
- Interest rates are capped – There is a limit to the interest rate, which can be charged by a credit union and there are legal provisions regarding this. The interest rate cannot be more than 18%. Banks do not have such a cap on the interest rates which makes them very expensive.
- Interest rates are lower – The interest charges on federal credit union credit cards are much lower.
- Less fees – The fees charged are quite less. The penalty amount in case of nonpayment is also significantly lower.
- Members own the credit union – The members of the credit union get a number of benefits, which are generally not available to bank customers.
- Excellent service – The customer service is always better with a credit union.