The Michigan Schools & Government Credit Union offers two Visa Classic credit cards. These credit cards are the regular Classic Visa credit card and the Youth Classic Visa credit card.
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Much of the terms for these two credit cards are identical; however, there are a few differences that are important. Keep reading to learn more about the options you have for a Visa Classic credit card from Michigan Schools & Government credit union.
Michigan Schools & Government CU Traditional Visa Classic Credit Card
The traditional Visa Classic credit card from Michigan Schools & Government Credit Union offers a variety of benefits that include no fees for balance transfers or cash advances. In addition, there is no annual fee for this credit card.
The Visa Classic credit card has a starting APR which is a fixed credit card rate of 12.75%. According to the Michigan Schools & Government Credit Union, this rate will not change for the duration of your credit card ownership.
However, you should understand that according to the Federal Reserve, if your creditor puts it in writing 60 days prior to a change, they can change any terms that they want to for your credit card.
Michigan Schools & Government CU Youth Visa Classic Credit Card
Many of the terms for the Youth Visa Classic credit card are the same as the traditional credit card. However, there’s one major difference and that is that this credit card is created for teenagers ages 16 to 18 years old.
Parents of these teens do have to sign an agreement that their children can apply for this credit card. In addition, parents have to agree to take responsibility for the repayment of the debt should their teen default on the credit card.
In order for a teen to apply for this credit card they do have to be a member of the credit union and attend a seminar about responsible credit use. In addition, they still have to provide proof of income and their Social Security numbers in order to get a card.
Michigan Schools & Government CU Visa Classic Credit Card Credit Limits
Both of these great cards start with a credit limit of $500. However, the Youth Visa Classic credit card will not increase past $500 until the teen becomes a legal adult, at which time their account will be reviewed for a credit line increase.
The traditional Classic Visa has a maximum credit limit of $5,000. Every six months the credit cardholder’s credit report will be reviewed for a potential increase in the credit limit.
Overall, these credit cards offer fairly decent terms and are something you should consider when looking for a classic credit card for people who don’t have perfect credit.
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- Michigan Schools and Government Credit Union Visa Titanium Credit Card
- Michigan State University Visa Platinum for Teens Credit Card
- Farmers Insurance Group FCU Teen Classic MasterCard Credit Card
- Michigan Educational Credit Union Visa Classic Credit Card
- Michigan Educational Credit Union Visa Platinum Credit Card
- Michigan Educational Credit Union MasterCard Credit Card
- Hugh O’Brien Youth Leadership Credit Card