The Difference Between the HCU Credit Card and Other Credit Cards
If you are like most people, you get home from work flip through your mail which consists of a couple of bills and two or three credit card offers. So, what are the differences in all these offers? Is one company better than another? What are the differences between bank cards and credit union credit cards:
Introductory Rates
Credit card companies may offer a 3% or even a 0% introductory rate on transferred balances; however, the fine print states that the introductory rate only applies if more than $3,500 is transferred. If a consumer transfers less than $3,500, a higher interest rate applies. Or the introductory rate is only for balance transfers and the rate on cash advances and purchases could be as high as 21% APR*. Heritage Credit Union's Platinum Visa, by contrast, has an introductory rate of 0% APR* on balance transfers and purchases for the first 6 months regardless of the amount.
Another tricky problem is the "special introductory rate". These super low rates will rocket to a much higher rate within six months to a year and if you check the fine print, you'll usually find the regular rate is anywhere from 18%-24% APR*. In addition, many of these special offers also have up-front fees including application, annual and or secured account charges.
Grace Period
Some credit card companies will shorten the length of time between the arrival of their monthly statement and the time their payment is due. The interval between receiving a bill and sending in a payment may be less than two weeks which could result in a late payment charge. Some may even charge you interest from the date of purchase or add fees for paying on time. You will never pay a finance charge with HCU if you pay your balance in full within 25 days. For your convenience, you can make payments up to the date it is due online.
Free Does Not Mean Free
"Free" offers you receive in your mailbox may not be what they seem, most have significant restrictions. Apply for a Platinum Visa from Heritage Credit Union, a source you can trust. You can view your account anytime you need to, make payments and more.
