President Obama signed a bill this Friday, May 22, that is said to make it tougher for credit card issuers to raise fees and interest rates. Bank advocates say that the new bill may cause credit card lenders to increase rates and to start charging new annual fees. The new credit card bill is to take effect February 2010.
As a not-for-profit credit union the new bill will not affect Nevada Federal. We already have regulations in place to protect our member-owners from costly rate hikes. For instance, the annual percentage rate (APR) of our credit cards can never go higher than 18%.
Other differences that make our credit cards more appealing include:
- No annual fees
- No balance transfer fees
- Low 6.9%APR fixed balance transfers until the balance is paid off
- 24/7 ATM cash access when you need it
Plus, Nevada Federal Visa credit cards have the same competitive rate for purchases and cash advances; other credit card issuers may charge a higher rate for a cash advances.
Apply for a low rate Nevada Federal Visa online today! Platinum, Gold or Classic…one credit card type is right for you. Go to www.nevadafederal.org for more details.