Why A Credit Card From A Credit Union Is Always A Smart Decision

Benefits of a Credit Card From a Credit Card

Photo credit: Shutterstock

Are you ready to start building credit? According to CreditCards.com, at least 7 out of 10 Americans have at least one credit card, allowing consumers to borrow money upfront for bigger purchases that they will pay back at a later date. If this is an avenue you are looking into, you will want to ensure you are opting for the best cashback credit cards that will help, not hinder, your financial situation. With thousands of financial institutions in the US alone, choosing the right institution for your own unique needs matter. Have you considered opting for a credit union over traditional banking? Studies have shown that roughly 120 million Americans belong to a credit union, with this number growing more rapidly each year. Why? We call it “the Credit Union Difference.” 


The Credit Union Difference

Credit unions stand apart from big banks in that they are member-owned non-profit organizations. While banks serve the general public, credit unions give their members undivided attention and support, keeping each individual and their financial journey in mind with every service offered. When it comes to interests, especially when looking to apply for a credit card from a credit union, low-rate credit cards will be more in your favor. In fact, the National Credit Union Association reported the average interest rates for credit cards from credit unions are around 11 percent while bank credit cards are at least 13 percent. Other factors such as late fees are lower at a credit union since their mission is centered around giving back to their members. Not to mention, you can find no balance transfer fee credit cards and the best cashback credit cards all from a credit union. 


Member Service Always Matters

Whereas banks cater to the public, credit unions hone in on their community. When you apply for a credit card from a credit union, you will more likely receive high-quality member service in comparison to banks. Since credit unions aim to support their members and help foster financial independence and stability, member service is unquestionably a large focus. By recognizing your unique financial situation and working towards achieving financial independence, you will find that credit unions are community-centered to offer the utmost support to their members. According to a HubSpot 2021 analysis, 90% of Americans consider the level and quality of member service before choosing to go with a company. Member service matters and credit unions are rooted in the belief of being there for their members with every step of their financial journey. 


At BHCU, we recognize the importance of your finances and that your situation varies from the next person. From no balance transfer fee credit cards to low rate credit cards, we are the credit union that will meet your financial needs when you are looking to open a credit card account, find a loan that works for you, and more. To learn more about why choosing a credit union is the right fit for you, please contact us today.