Marriot Employees’ Federal Credit Union Visa Classic Credit Card

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Marriot Employees' Federal Credit Union Visa Classic Credit CardIn general, a classic credit card is a credit card that designed for people who don’t have great credit but don’t have bad credit either. Typically, the credit limits for these credit cards are relatively low maxing out at around $1500.

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You’ll find that classic credit cards usually have a higher interest rate than other credit cards. In addition, it’s rare for classic credit card to offer awards programs or any additional benefits. So, is the Marriott Employees’ Federal Credit Union Visa Classic credit card a typical classic credit card? Keep reading to find out!

Marriott Employees’ FCU Visa Classic Credit Card Overview

As mentioned above, one of the most common features of the classic credit card is a high interest rate. In terms of the interest rates for the ME FCU Visa Classic credit card, it doesn’t disappoint! The interest rate for this credit card is a whopping 17.88%! This is the starting rate and applies regardless of what your credit score might happen to be.

This Visa card also comes with a credit card annual fee of $25. The only other credit card from the ME FCU that comes with an annual fee is the Classic Secured Visa credit card. Neither the Platinum Visa nor the Gold Visa credit cards from this credit union have an annual fee.

All of the other fees associated with this credit card are the same regardless of which credit card you have from this credit union. For example, the foreign transaction fee for this credit card is 1%, which is the same as it is for the secured, gold, and classic credit cards.

The fees for having a late or returned payment are maxed out at $35. The fee for this might be less because of the Credit Card Rules from the Federal Reserve. These rules state that credit card companies, banks, and credit unions must base their fees upon the total balance on your credit card, as well as how many months in a row you’ve been late making your payments.

This credit card has no additional benefits. It’s not a rewards credit card, so it offers no travel coverage, rental car coverage, warranty coverage, and so on. Essentially, ME FCU markets this credit card as a reliable, secured credit card.

Because it’s a Visa credit card, it does qualify for zero fraud liability. However, credit card laws stipulate that creditors are not allowed to hold you responsible for fraud on your card, providing you report that your card was lost or stolen in a timely manner. In other words, this feature is nothing special.

How to Get the Marriott Employees’ FCU Visa Classic Credit Card

In order to get this credit card, you have to apply directly on the ME FCU website. The one downside here is that, although you’re applying online, you will not get your results online. You will get your results in the mail. If you qualify, you’ll get a credit card. If you don’t qualify, you’ll receive a letter stating the reasons why you don’t qualify.

In addition to filling out the online credit card application, you’ll also have to be a member of this credit union or an immediate household member of a member of this credit union. There is a comprehensive list of companies that qualify to become members of the ME FCU. However, if you work at a Marriott or a Marriott affiliate, then you’ll qualify.

In addition, virtually anyone related to you can also become a member providing you meet the minimum qualifications. This also includes anyone living with you, even if they aren’t directly related to you.

The Marriott Employees’ FCU Classic Credit Card Bottom Line

There’s no nice way to say that a 17.88% interest rate is ridiculous. If you have bad credit, you can expect to pay this kind of interest rate. But, if you have decent credit, you shouldn’t be paying these exorbitant interest rates.

What’s really unusual is the fact that most credit unions offer low interest rate credit cards. While the Visa Platinum credit card offered by the ME FCU has a lower interest rate of 9.9%, considering that they require you to have perfect credit to apply for this credit card, this interest rate is a little high as well.

The interest rate is based on the credit prime rate. What this means is that the rate is variable and may change if the actual prime rate changes. You can keep track of the prime rate through the Financial Forecast Center, which will provide you a list of past and current prime rates, as well as what the future prime rate is supposed to be.

The bottom line on this credit card is that you can probably do better. Take the time to compare the terms for this credit card with the terms of other credit cards before you decide.

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Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!

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