Credit cards are a terrific convenience for people who need to extend their buying power. They also are a great way to improve credit histories and credit scores.

There are many different credit card issuers — banks, credit unions, airlines, hotel chains, sports teams and organizations, to name a few.

Why Get a Credit Card?

Having a credit card allows you to have a detailed, demonstrated history when applying for home, auto or personal loans. Some credit cards also offer awards, such as redeemable points gained when you make purchases with a card. Others offer promotional low-interest rates or benefits for travel or shopping with certain brands.

Columbia SC residents who want credit cards can use them to secure apartment down payments, pay bills for your smartphones and related wireless services, lower insurance payments and even utility discounts.

Where Should I Get My Credit Card?

Getting a credit card from your local credit union has several advantages over securing one from other sources. Here are a few of the key reasons:

• Credit unions often can provide lower interest rates because they are nonprofit organizations whose focus is on serving members. That’s in contrast to for-profit banks that need to provide ever-increasing levels of profit to shareholders.
• Credit unions offer lower fees than commercial banks.
• Interest rates are capped at 18 percent for credit unions while banks have no set limits A couple late payments on a bank-issued credit card can push your interest rate into the 20-30 percent range.
• Credit unions may be more forgiving of poor credit. If you’ve had some trouble with your credit, looking to a credit union often offers you options at better rates than you’ll find working with the banks.

Finding a Local Credit Union 

At Palmetto Citizens Federal Credit Union, we offer a low-interest Visa credit card with no fees for balance transfers or cash advances. You’ll also earn rewards points redeemable for merchandise and travel. To learn more about our credit card and other credit union services, contact us today.