LAST UPDATED: August 10th, 2023
Credit Union One has a long, rich history of helping its members with all of their financial needs. Since its founding in 1938, this credit union has seen members through all kinds of financial highs and lows, giving them the type of experience to help all future members with any situation that may come up. Members will be able to have access to most services they would be able to get from a major banking institution, such as checking or savings accounts, credit cards, and loans.
- Free credit score
- Rewards program
- Goal-based cards
Free Credit Score
A person's credit score is often directly linked to their credit card, whether that be for just the APR rate they receive for that card or because the card is building or damaging their credit. Credit Union One understands this link between the two and works to help keep customers moving in a positive direction. Each Credit Union One card holder will have access to a free FICO credit score. This access allows customers to continually check in on their credit and make necessary adjustments towards the goals they are trying to reach.
The rewards program offered with the Complete Rewards Visa Card from Credit Union One is a great option for those members looking to earn several rewards through their credit card use. There are no set spending categories that members have to stay within in order to earn points; instead all purchases earn rewards points. The points that are earned will never expire and can be redeemed as money into the customer's account at any time. This comprehensive program allows customers to get the most from their rewards credit card.
Every customer has a different need for a credit card and it can be overwhelming for that customer to have to sort through so many options in order to find a card that will fit their needs. Credit Union One has made it simple for the customers to find the right card by attaching a purpose for that card. For example, the Secured Visa Card is to help customers with their credit scores. This outlining of purpose will help customers easily find the card that best fits their goals and financial needs.
The security of any financial account is very important, especially in today's world where cyber attacks and fraud are very prevalent. These types of attacks can lead to major losses in either personal information security or actual funds. Credit Union One advertises that the credit cards offered through the company have fraud protection services attached but there is little specific information about those programs. Members who decide to become card holders will have to do more in-depth research to find out what exactly they will get from these policies. It is made clear that the accounts are monitored and the card holder will be notified if any suspicious activity is detected. It is unclear whether the security and protection of Credit Union One should be a concern for potential card holders or not.
High APR Rates
Another aspect of a credit card that will continually directly affect the cardholder is the APR rate, which is the rate at which the credit card will incur interest and, therefore, determines how much the customer will end up paying the company over the life of the credit card. Every company that offers credit cards gives customers a prime rate, which is the best rate that could be offered. However, each individual customer will receive a rate dependent upon on their own credit history and score. The prime rates offered by Credit Union One are much higher than many other companies across the financial industry. Customers who need a very low rate but also want some other premium features (such as rewards programs) may need to work with another company.
The Bottom Line
The credit cards offered by Credit Union One are pretty standard options when compared to others from across the industry. One major benefit to working with this company is how dedicated to helping members it is. Additionally, each of its cards has a designated goal attached that will help members to get the card that will work the very best for them. However, Credit Union One is not very transparent about the security measures it has in place and charges relatively high APRs.
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