State Employees’ Visa Credit Card

State Employees’ Visa Credit Card Review

State Employees’ Credit Union is one of the largest credit unions in North Carolina, and the State Employees’ Visa Credit Card is a great way for North Carolinians to enjoy a great APR every day with no annual fee. With many credit cards – especially those from larger lenders, applicants are wooed by an excellent APR. Unfortunately, these low APRs are usually introductory rates that expire after 6, 12, or 15 months – usually followed by a much higher APR. With the State Employees’ Visa Credit Card, however, all members enjoy an exception APR on purchases, balance transfers, and cash advances every day. This great interest rate is half of the national average and is one of the most competitive rates available – not just in North Carolina, but across the entire country.

Few Additional Fees

The State Employees’ Visa Card is an exciting option to consider in that it prides itself on avoiding fees for many of the transactions that regularly occur. There is no annual fee, for instance, nor are there additional fees for balance transfers or cash advances. There is also no penalty APR, though late [payments incur a $5 charge – as do returned payments. That’s not to say, however, that there are no fees associated with the card. Holders can expect foreign transaction fees of 1% of the cost of the transaction in U.S. Dollars, in addition to the late and returned payment fees just mentioned. Even the lack of a fee for balance transfers comes with a caveat: while there is no fee for conducting a transfer, interest begins to accumulate immediately, meaning keeping on top of payments is essential to ensuring you don’t quickly dig yourself into deeper credit card debt.

Other Benefits of the State Employees’ Visa Card

Beyond the great low APR, the State Employees’ Visa offers few perks. The card doesn’t offer rewards of any kind, for example, nor does it come with a special 0% introductory rate on either purchases or balance transfers. The card does, however, come with a variety of Visa protections and perks, including Visa Auto Rental Collision Damage Waiver when renting a car and declining additional coverage at the rental counter. It also offers Visa’s Zero Fraud Liability coverage and purchase protection. State Employees’ Credit Union gives cardholders the added perk of overdraft protection through the linking of the card into an existing SECU checking account, so you don’t have to worry about your checking account running dry.

State Employees’ Credit Union Eligibility

As with other credit unions, the State Employees’ Credit Union Visa Credit Card is only available to members. Membership requirements for the State Employees’ Credit Union include the applicant live in North Carolina, South Carolina, Georgia, Virginia, or Tennessee and:

• A current employee of the State of North Carolina, a county department official, or a public school employee
• A retired North Carolina state employee, county official, or public-school employee
• A member (current or retired) of the North Carolina National Guard
• A close family member of an existing State Employees’ Credit Union member

Should You Apply for the State Employees’ Visa Credit Card?

The State Employees’ Credit Union Visa Credit Card certainly isn’t the most exciting credit card offer available today. The card lacks an introductory 0% APR on purchases or balance transfers, any rewards program, or any significant perks or bonuses. What the card lacks in perks, however, it makes up for with an excellent everyday APR. Holders don’t have to worry about their credit score affecting their interest rates with the State Employees’ Visa – every member gets the same exception APR on balance transfers, purchases, and cash advances – a rate which is almost half of the national average for interest rates (which currently sits around 17%). If you are a member – or qualify to become a member -of State Employees’ Credit Union and want a no-fuss, no annual fee credit card that works for everyday life, the State Employees’ Visa Card is a quality option to consider carefully.