Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
IUSA TodayI says try CUs to obtain credit cards
MADISON, Wis. (10/21/09)--Consumers should consider credit unions when they are looking to apply for credit cards, a columnist for USA Today wrote Tuesday. “If you don’t care about rewards and just want a credit card that doesn’t charge an annual fee, consider applying for a card through a credit union,” wrote personal finance columnist Sandra Block. “Many credit unions charge no annual fee and offer below-average interest rates.” Due to credit card legislation that will--among several mandates--restrict credit card issuers ability to raise interest rates on existing balances, the credit card industry--in response--is implementing other fees, Block wrote. For instance, starting in 2010, Bank of America will charge some customers an annual fee ranging from $29 to $99, Block explained. Also, Citigroup Inc. is beginning to charge annual fees to cardholders who don’t charge more than a specific amount on their cards--usually $2,400 per year, she added. Other banks are charging inactivity fees for customers who don’t use their credit cards during a specific period of time, Block wrote. “You heard that right: You could be spanked for staying out of debt,” she added.
Other Resources

RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
15 hours ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
17 hours ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
19 hours ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
19 hours ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
20 hours ago