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Credit Cards: It’s the quality of financial institution that matters

Credit Cards:  It’s the quality of financial institution that matters  Open your wallet. Pull out your credit cards. Although a third of Americans have no credit cards, most of us have three or four. Interestingly, the higher your FICO (credit) score, the more cards you’re likely to have.

Besides being an important factor in improving one’s credit score, credit cards can smooth out financial bumps; facilitate business and leisure travel; provide perks and rewards; help users earn discounts; and provide security in making online purchases.

Finding the right credit card – and using it wisely – is critical to financial health. That awesome 0 percent credit card offer from a Delaware bank might not be so awesome once you check into payment terms and interest rates. Nationally, the average interest rate on credit cards is around 15 percent, according to The Motley Fool. Many credit card interest rates are much, much higher! Remember, banks are in the business to make money. Credit cards are one of their most lucrative products!

If a credit card is in your future, or if it’s time to consider whether your credit card is costing you more than it should, now is the time to shop around. One of the financial institutions you should consider for your credit card needs is the University of Kentucky Credit Union, UKFCU. Because UKFCU is owned by members, not investors, its focus is on the financial health and wellbeing of its members.

A UKFCU credit card offers low rates and absolutely no hidden costs. The interest you pay on any balance is invested in UKFCU and returned to you through lower loan rates and additional services you won’t find anywhere else.

UKFCU credit cards offer an attractive array of benefits designed to serve its members, including no annual fee, no balance transfer fee, emergency cash if your card is stolen and extended warranty protection on purchases.

The UKFCU Visa Platinum Card offers the following benefits:  
• $500,000 travel and accident insurance
• Warranty Manager Service
• Rates as low as 9.49 percent, subject to credit qualification*

The Visa Signature Card carries the same benefits as the Platinum card, plus
• CU Rewards Mall with 1 percent cash back option
• Auto rental collision damage waiver when your UKFCU card is used to pay for car rental
• Trip delay – $100/day up to $300 coverage
• Trip cancellation/interruption – $3,000 coverage
• Rates as low as 11.99 percent, subject to credit qualification*

UKFCU is committed to helping its members achieve and maintain financial security by offering a variety of products that meet members’ needs. “Our Visa credit cards are part of a total package that focuses on managing money, saving for the future, borrowing wisely, and understanding your finances,” said Carol Carr, UKFCU marketing manager.

Join UKFCU and find out what it’s like to partner with a financial institution that cares about you. Membership is easier than you might think. Visit UKFCU online at UKFCU.org; visit the UKFCU branch nearest you; or call (859) 264-4200 to learn more.

– Annual Percentage Rate. Rates are current as of 12.20.18 and subject to change. Membership eligibility required. Federally insured by NCUA.

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