Credit Unions seem to get overlooked in the banking and financial world. For those of you that don’t belong to a credit union, the first thing you want to do is look and see if you have a local credit union, or a credit union in the county or city that you work, learn or worship in. To find a credit union near you visit http://www.creditunion.coop/cu_locator/quickfind.php. From there you can get addresses, apply online for an account, and even get loans or credit cards.
Credit Unions are much, much lower when it comes to fees and interest rates, as compared to the “big banks”. But when it comes to rewards credit cards, credit unions have some competitive cards. Pew Charitable Trusts did a study on Credit Union credit card rates, and they found that the interest rates are 20% lower than the major bank credit cards. In addition, overlimit fees are around $15-20 as compared to $35-40 for major banks.
If you would like to compare some of the major banks credit card rewards programs, to find out if the higher fees, result in better rewards perks, compare rewards credit cards and apply online if you find the right card.
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