The Security Service Federal Credit Union offers membership opportunities to a variety of groups in Texas, Colorado, and Utah. While not everybody in these states can qualify, there are a vast amount of people who can. Membership is based upon your income level, where you live, if you’re in the military, and so on.
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The Security Service Federal Credit Union Visa Classic credit card is available only to those people who qualify for membership at the SSFCU. This is their basic credit card, designed for people with less-than-perfect credit. Keep reading to learn whether the SSFCU Visa Classic credit card is right for you.
SSFCU Visa Classic Credit Card Overview
Basically, this credit card offers people with a limited credit history the opportunity to get a credit card, with the potential of growth to a large credit line. The credit line begins at $500 but can grow to $20,000 over time.
How this works is that when you initially apply, both your credit line and your APR will be determined by your current credit score. Every six months the SSFCU will review your credit history to determine whether you qualify for an increased credit line or decreased APR.
Decreasing your APR based on your improved credit score is a requirement of the Federal Reserve‘s Credit Card Rules. The downside to this is that, if your credit score gets worse, then SSFCU has the right to increase your APR and your credit line.
SSFCU Visa Classic Credit Card Terms
The APR for the Classic Visa credit card starts at 9.75% for purchases and cash advances and 9.9% for balance transfers. This is the starting rate and your rate could be higher depending upon your credit score.
This is a no-fee credit card.
This means you will not pay a fee for balance transfers, cash advances, foreign transactions, and so on.
You’ll receive a 25-day grace period on this credit card for all new purchases. In addition, you’re protected by zero fraud liability and fraud monitoring through Visa.
SSFCU Visa Classic Credit Card Verdict
For a classic credit card, there is a lot of value here. It has a low starting interest rate and this credit card is designed for people who need to rebuild or establish their credit. In addition, the ability to have a large credit line over time ensures that you don’t have to switch credit cards as your credit improves.
Use the FREE credit card chaser tool to compare classic credit cards!
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