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IUSA TODAYI Check out cards issued by CUs
MADISON, Wis. (3/10/10)--Consumers should check out credit cards issued by credit unions to cope with an environment of new credit card fees and rules changes, USA TODAY said Tuesday. In a column titled, “How to cope with new fees, rules changes on credit cards,” Sandra Block, the newspaper’s personal finance columnist, cites a July 2009 survey by the Safe Credit Card Project at The Pew Charitable Trusts. “Check out cards issued by credit unions. Only 11% of cards issued by the largest credit unions charge an annual fee, versus 16% of cards from major banks ...” Block said. “The median annual fee for credit union-issued cards was $15, versus $50 for cards issued by the largest banks, the survey found," she wrote. “Credit cards issued by credit unions also have lower penalty fees,” she added. “The median late payment fee for credit union cards is $20, versus $39 for bank-issued cards, the survey found.” To read the column, use the link.
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