Service Credit Union offers a Visa Share Secured credit card to its members who need help re-establishing their credit. Service Credit Union was set up to assist military personnel with meeting their financial goals. It’s open to all servicemen and women and their families.
To see if military cards will help you with rising credit card rates, click on the FREE and easy-to-use finder tool!
Credit unions are non-profit organizations whose members are the owners, rather than stockholders. This means that the members–the individuals who have accounts–are treated very well, even receiving dividends if the credit union makes any money that year.
Service Credit Union Visa Secures Your Credit
A low credit score can be a huge hindrance, so some experts suggest getting a secured credit card to help. A secured credit card will report to the three credit agencies, while prepaid cards do not. In order to raise your credit scores, you need a card that will report your timely payments. The Federal Trade Commission lists other ways to raise your score on its website.
One way to improve credit scores is to get a credit card and make small regular purchases with it, and then immediately pay off the credit card balance.
Carrying a balance will not help you and can cause you further financial difficulties.
Since those with bad credit often have difficulty getting a credit card, SCU designed the Share Secured card especially for them.
Most credit cards are not secured, meaning that they don’t have any collateral. That’s why credit card rates are higher than car loans. But the Service Credit Union Visa Share Secured card uses your savings account with SCU as your collateral.
SCU Visa Share Secured Credit Card Information
The interest rate for this card can go as low as 10.15%, but the 25-day grace period allows you plenty of time to pay off the balance so that you don’t have to pay any interest at all. You also won’t be required to pay an annual fee.
Even though it’s a secured card, you’ll still get some great perks, like travel accident insurance worth $250,000. There’s also no higher penalty rate if you’re late with a payment.
Click on the FREE credit card chaser to search for a secured credit card to help your credit now!
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