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Affordable Credit Cards from Your Local Credit Union

Affordable Credit Cards from Your Local Credit Union By Cyndi Cohen
Published January 24, 2012
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Yes, it’s a new year and time for a fresh start! However, is that pesky holiday debt or lack of credit worthiness holding you back from reaching your financial goals? If so, a great way to manage those extra bills and maintain or establish credit is with an affordable credit card from your credit union.

A low rate credit union credit card with flexible terms and convenient access options may just be the difference-maker in helping you take control of your finances. Many credit union cards offer a low, fixed rate and no fees for balance transfers. Plus, once you put an end to high-interest debt or other factors tarnishing your credit profile, you will have a reliable credit card for everyday purchases.

CU Members Can Start 2012 on a Debt-Free Foot

In order to help members become debt free and manage their monthly expenses, credit unions consistently offer superior everyday interest rates on their credit cards as well as special seasonal rates and special types of cards to cater to their member bases.

According to Jane Ronnfeldt, VP of Marketing at Numerica Credit Union (Spokane Valley, Washington), her credit union offers multiple Visa Card options to ensure that its members have a credit card that fits their needs. Cards include:

  • A Student Visa to help young members build their credit,
  • A share-secured Visa to again, help members build or rebuild their credit,
  • A Visa Gold that provides a low, non-variable rate,
  • A Visa Platinum Extra Awards that earns points that can be used toward airline miles, gift certificates, merchandise and cash.
  • And, the Business Visa with features and benefits that are important to business owners

To help members with high interest debt, Numerica is currently running a "1% Bonus Balance Transfer Offer" which pays a cash bonus of 1% of the transferred balance, up to $75.  “During the holidays, many people rack up credit card balances, especially those on high-interest cards in order to receive additional store discounts,” explains Ronnfeldt. This deal is perfect for those people and is available through March 31, 2012 for both existing and new card holders. Designed to encourage members to save money by transferring their high-cost credit card balances to the credit union, this offer also boasts no cash advance fees.

In addition to affordability, since each Numerica card option has very different members using it, they try to add features that would be appealing to that member.   For example, Ronnfeldt says that their Student Visa has a cool custom card design, and the Numerica Business Visa offers an awards program, overdraft protection and travel accident protection.  “Our basic Visa Platinum and Visa Gold offer benefits that members should expect from their credit card – no annual fee and no cash advance fee.” 

In terms of applying for a credit card, Numerica makes the process of owning a Visa as easy as possible.  From the beginning, the application is readily available online.  “Once you’re approved, we’ve made managing your account easy with Better Online Banking, eStatements, eAlerts and helpful articles about being responsible with your credit and about avoiding fraud,” contends Ronnfeldt.

Everyday Credit for Everyday Living

While Princeton Federal Credit Union (Princeton, New Jersey) is not currently offering any promotional rates tied to their Visa Credit Card, they pride themselves on offering a competitive, no-nonsense card, and that they do. 

According to Judith L. Gernhart, Business Development Specialist, Princeton Federal’s Visa features:

  • A low, fixed interest rate,
  • No annual fee,
  • No cash advance fee,
  • Cash advances at ATMs worldwide,
  • And, a 25 Day Interest-Free Grace Period on Purchases

A great way for their members to save on interest and reduce monthly obligations, Princeton Federal, like Numerica, offers the option to transfer balances from those higher rate credit card accounts to a Princeton Federal Credit Union Visa Credit Card. 

In addition, with a large portion of their membership comprised of domestic and International students, Princeton Federal is dedicated to helping these members attain the freedom to reach personal goals and make their own financial decisions.

For some student members seeking a credit card, the pledged VISA Credit Card is an ideal solution.  Members can obtain this secured Visa by simply pledging their savings account equal to the credit limit on the credit card account…a great way to establish credit history or re-establish credit history due to problems in the past.

So whether you are paying off debt, building credit, or simply managing life’s expenses, a credit card from your credit union is the right choice!  If you’re not a credit union member, but would like to take advantage of invaluable benefits like affordable credit options, find a credit union and join today.

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