For those who have not-so-perfect credit but a reasonable credit history from which a creditor can draw, you may want to consider the Michigan Educational Credit Union Visa Gold credit card. In order to qualify for this card however, you must first be a member of the MECU.
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In order to become a member of the Michigan Educational Credit Union, you have to be an educator in specific counties in Michigan. If you are a retired educator, you can also qualify to join the MECU. In fact, any current or former staff member in qualified counties can become a member.
About the Michigan Educational Credit Union Visa Gold Credit Card
There are two things that many people tend to look for when shopping for a credit card. The first one is the interest rate of the credit card and the second thing is whether or not it’s a rewards credit card. In the case of this Visa Gold credit card, it’s not a rewards credit card.
As for the interest rate for this credit card, it’s going to be 10.9% for purchases, cash advances, and balance transfers. This rate can only be changed if the Michigan Educational Credit Union provides you with a notice in writing at least 60 days prior to making a change. This is a credit card rule, according to the Federal Reserve.
You’re probably interested in any other fees associated with this credit card and the good news is that they are minimal. There is no annual fee for this credit card.
In fact, the only fees this credit card has are a foreign transaction fees of 1% and a late payment fee of $20.
Michigan Educational Credit Union Visa Gold Credit Card Benefits
The benefits for this credit card include:
- Its availability for people with a variety of credit scores
- $250,000 in travel insurance
- Extended warranty coverage
- Rental car insurance coverage
- $500,000 airline insurance
Most benefits that are available with this credit card only apply if you pay for your purchase using the credit card. For example, if you want the travel insurance, you must pay for your travel with your credit card.
Michigan Educational Credit Union Visa Gold Credit Card Verdict
Because this credit card is available to people with bumpy credit, it has actually got quite a good interest rate, making it a good choice. If you have great credit, however, you can get a better interest rate and so you should look at other options. This credit card, however, is not intended just for people with bad credit.
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- Michigan Educational Credit Union Visa Platinum Credit Card
- Michigan Educational Credit Union MasterCard Credit Card
- Michigan Educational Credit Union Visa Classic Credit Card
- Educational Community Credit Union MasterCard Credit Card
- Lake Michigan Credit Union Visa Gold Credit Card
- Lake Michigan Credit Union Prime Link Platinum Visa Credit Card
- SchoolsFirst Federal Credit Union Visa Gold Credit Card