Benefits of Getting a Credit Card through a Credit Union

Credit union is a financial institution as like other banks but it is different from banks because credit union works not for any profit. Credit union helps people in their financial needs and also offers them many services or products at low interest rate. Credit union is not a large corporation. It is owned by groups of members and groups of shareholders.

Credit union offers Credit union financial services as other banks offers such as loans, deposit accounts and also provides credit cards. Credit union credit cards have various benefits as compare to other banks issued cards.

Benefits of Getting a Credit Card through a Credit Union

Fines and Penalties

According to bank rates, credit union credit cards charge less when it comes to any fines and penalty fees. Most of the banks impose a lower penalty interest rate who fails to pay their bills on time. But in credit union credit cards, there are no fines or penalty charges at all.

Balance Transfer Fee

Most of the credit union allows their members to transfer balance without charging fees as compare to other banks rates. Most of the banks charge transfer fees for those using banks credit card. Credit union cards offer the convenience of “buy now, pay later”. In credit union cards, a monthly credit card statement is issued with no interest rate or one can pay their payments out according to their needs.

Access to Cash

If the Credit union is a part of the CO-OP Network then it can provide access to 28,000 ATMs including united state, Canada and other places. There is no fee for using these ATM machines. It also allows to deposit at more than 9,000 CO-OP networks ATMs without charging any fees. Credit union cards make it easy to deposit amount when one is travelling or far away from its branch. Credit union members can easily use ATM machines in another city.

Credit Union Rates

Credit union offers credit cards at lower rates as compare to cards offered by other banks or other financial institution.

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