| Credit Score | Credit Rate |
|---|---|
| > 800 | 11.0% |
| 740 – 799 | 13.0% |
| 670 – 739 | 15.0% |
| 580 – 669 | 16.5% |
| 300 – 579 | 18.0% |
Generations United FCU offers a credit card up to a $10,000 lending limit. The annual percentage rate for the credit card is based on your credit score (see chart).
These rates are significantly less than the industry average 22.63%*
*According to a 2024 nerdwallet.com report
Features and Benefits
Included with your Generations United Federal Credit Union Credit Card
VISA Classic Credit Card
At a Glance
Annual Fee $0.00
Rates: Variable APR 11.0% – 18.0%
VISA Balance Transfer Credit Card
Generations United FCU has designed two different balance transfer credit card options. These options allow our members to determine which interest rate, and which term works best for you. Each of the options provides an opportunity to pay down credit card debt during the term selected and once that term ends your interest rate is still 6% to 8% lower, on average, than most credit card options in the industry.
We offer the following interest rate/term options:
- 0.00% interest for 12 months with a balance transfer fee of 3.0% on the transfer amount, or
- 5.00% interest for 24 months with a balance transfer fee of 3.0% on the transfer amount
Depending on your current credit score you can transfer over a maximum of $10,000 and set a monthly repayment goal to pay down your debt and save significant interest until the balance is paid off. An example.
|
Credit Balance |
Introductory Interest Rate |
Monthly Payment Goal |
Credit Balance Reduction |
|
$10,000 |
0.00% |
$250.00/month |
$2,700 |
|
Credit Balance after 12-months |
Interest Rate after 12-months |
Monthly Payment Goal |
Total Months Needed to Pay Off Transfer Balance |
|
$7,300 |
18.00% |
$250.00/month |
51 months |
In this example, you can pay off your $10,000 credit card balance in 51 months with Generations United FCU and the interest that you would pay over the term would be approximately $2,376.00 (0.00% for 12 months and 18.0% for 39 months).
If you have a $10,000 balance with another credit card provider at an interest rate of 23.00% it would take 77 months to pay off the balance. By making the same $250.00 monthly payment, you will pay back $9,163.00 in interest over the 77 months.
By doing a 0.00%, 12-month balance transfer you can save over $6,787.00 on interest and not have to make a $250.00 payment over an additional 26 months.
VISA Balance Transfer Credit Card
At a Glance
VISA Credit Builder Credit Card
A credit card that allows anyone regardless of age, income, or prior credit history to have access to a credit card that will allow them to safely build credit and not accrue debt.
Features and Benefits
VISA Credit Builder Credit Card
At a Glance
Members can select the Apply Now link above and fill out the paperwork, or use our convenient online/mobile banking app. In online/mobile banking, select the New Accounts link, then See Available Loans. Select Credit Card Classic, Apply Now, and fill out the required fields.
Credit Card Learning Center
My Credit Manager
Upon opening a checking account, you can register for this free service through the mobile app.
Credit versus Debit Cards
Learn about the pros and cons of Credit and Debit Cards.
Reading Your Credit Report
Detailed description of what to look for when viewing a credit report.
Course : Managing Credit
Take a course on Managing Credit