Credit unions can be an excellent option instead of banks when you are looking for a loan or a credit card. However, one of the downsides to using a credit union is that you have to be a member of the credit union in order to apply for a credit card. This is the case with the IH Mississippi Valley Credit Union.
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If you are interested in one of the IH Mississippi Valley Credit Union’s credit cards, such as the Smart Visa credit card, then you’ll have to live in one of several counties in Illinois and in Iowa. These counties include: Rock Island, Bureau, Mercer, Knox, Whiteside, Cedar, Lee, Jackson, Louisa, and more.
IH Mississippi Valley Credit Union Smart Visa Credit Card Overview
The IH Mississippi Valley Credit Union Smart Visa credit card for people with bad credit or no credit build their credit. It’s important to note that this isn’t a low APR credit card, so you will not want to apply if you can qualify for other, lower interest rate, credit cards.
In addition, this credit card is not a rewards card, which isn’t unusual for credit cards designed to reestablish credit. Despite this, there are some nice benefits to choosing this card, which include:
- No annual fee
- Travel insurance
- Rental car insurance
- Travel accident insurance
In addition, you can use this credit card at a Visa shopping site and save money on certain services, restaurants, and merchandise. The savings range from getting things for free to saving 25% off of specific options.
IH Mississippi Valley Credit Union Smart Visa Credit Card Terms
As mentioned above, this is not a low APR credit card. The APR for this card starts at 19.9%, which is pretty high for a credit union. The penalty APR for this card is 24.9%, but IH Mississippi Valley Credit Union will remove this higher APR if you make six payments on time for six consecutive billing cycles.
There is no annual fee for this card. In addition, there are no fees for ATM use. There are, however, fees for balance transfers and cash advances of $5 or 2%, whichever amount is greater. The credit card foreign transaction fee is 1%.
The difference with the Smart Visa credit card terms is that IH Mississippi Valley Credit Union only charges $5 for a returned check fee. This is well below what they are allowed to charge according to the Federal Reserve guidelines.
IH Mississippi Valley Credit Union Smart Visa Credit Card Verdict
One of the first things that you have to consider is the interest rate for this card, which is relatively high. If, however, you have very bad credit, then this card could be beneficial, especially considering the lower fees.
Use the FREE credit card chaser application on this page to do a credit card comparison today!
- IH Mississippi Valley Credit Union Bright Visa Credit Card
- IH Mississippi Valley Credit Union Business Visa Credit Card
- IH Mississippi Valley Credit Union Brilliant Visa Credit Card
- IH Mississippi Valley Credit Union Genius Visa Credit Card
- Matanuska Valley Federal Credit Union Visa Classic Credit Card
- University of Mississippi Credit Card
- Hudson Valley Federal Credit Union Cash Rewards Visa Platinum Credit Card