Best Credit Union Balance Transfer Credit Card
Generally speaking – credit union credit cards provide better terms for their members than those issued by the big banks – however this may not be true across the board depending on the category of card you’re after.
A post-bank-collapse-survey was conducted by Pew Research a few years ago that suggested that credit cards issued by credit unions provide lower rates and less fees but may not provide quite the same reward structure. The study noted that big banks will tend to make it more difficult for their customers to sniff out hidden fees and potential rate hikes associated with their cards while credit unions tend to keep their card applications, terms and conditions, simple and candid.
By nature credit unions are designed to be more consumer friendly primarily because their “consumers” are their “members” who are essentially their “owners.” And they are not-for-profit institutions who pass along their profits back to their customers in the form of lower loan rates (and credit card APRs).
Exceptional Balance Transfer Credit Card offer by Consumers Credit Union:
A great example of a credit union credit card with consumer friendly terms is the Consumers Credit Union Balance Transfer Credit Card which was forwarded to us this week by BankVibe.com reader Jake.
Here’s the scoop: Consumers credit card Consumers is offering 1.99% apr* for six billing cycles on new balance transfers made between January 15 and March 31, 2011. Plus, the card comes with no balance transfer fee and balance transfer fees generally set you back between 5-10% of your transferable sum (which most major balance transfer cards impose).
Related Credit Card Offer: Get a 0% balance transfer APR for 12 months AND no balance transfer fee until February 28 with this Discover Card Balance Transfer Deal.
The Consumers Credit Union credit card comes as a Gold Mastercard with APRs as low as 8.99% or as a Platinum Visa with Rewards with APRs as low as 9.99%.
Consumers Credit Union Credit Card Features:
- No annual fee
- 25 day grace period
- $2,500 – $50,000 credit limits
- Rates as low as 8.99% – 9.99% APR
- No balance transfer fee
- make payments through a direct deposit or online
