Neighbors Federal Credit Union out of Baton Rouge, Louisiana has a great fixed-rate credit card available to those with decent credit and live near one of their branches in Louisiana.
This credit card offer comes in the form of a Visa Classic Card and provides an enticingly low APR of 8.90%. To put this offer in further perspective, the national average for low interest credit cards currently hovers around the 11% mark.
Unfortunately for most of us, this offer will prove to be off the table simply because Neighbors Federal Credit Union requires membership before opening any of their products PLUS you’ll need a sufficient credit score to be eligible (the bar is currently set around 650).
Related: See 7 surprising reasons your credit score isn’t higher.
Neighbors Federal Credit Union has a fairly large presence in Lousiana. They are the 2nd largest credit union in the state, but not in the top 300 credit unions nationwide (by membership and asset size). They were established in 1954 and today control roughly $550 million in consumer deposits and nearly $420 million in loans.
How to Join NFCU:
Neighbors Federal Credit Union proudly serves anyone who lives, works, worships, or attends school in these nine Louisiana parishes: East Baton Rouge, West Baton Rouge, Ascension, Livingston, Iberville, Pointe Coupee, East Feliciana, West Feliciana, and Saint Helena.
Details of Low Fixed Rate Credit Card offered by NFCU:
- Low, FIXED rate, as low as 8.9% APR;
- View balances and make payments with Online Banking or by phone with Audio Response;
- Online account statements and information;
- Lost/Stolen Card Reporting day or night
Neighbors Federal Credit Union is a member of the NCUA (credit union equivilent to FDIC).
Even if you’re not eligible to join this credit union, try contacting your local credit union or community bank and see what the are currently offering. In general, credit unions are not-for-profit institutions that regularly offer significantly lower interest rates on credit cards. These credit cards are, unfortunately, also no frills sort of products lacking any significant rewards structure. That is the trade-off though that all potential customers should be aware of when it comes to credit union credit cards – low interest in exchange for zero rewards.