Security Service Federal Credit Union (SSFCU) is a not-for-profit, member-owned cooperative that serves customers in 70 locations throughout the southwestern United States. The financial services company was founded in 1956 and its corporate headquarters are located in San Antonio, Texas. According to its website, SSFCU is the eighth-largest credit union in the world with more than 700,000 members across the globe. The financial services company offers multiple MasterCard credit card options with various rates and benefits for its customers. All cardholders receive access to free mobile and online banking services, 24/7 customer service, and free real-time fraud alerts.

Rank Chart
APR
Reward Options
Our Score
#1
6.99 - 10.5%
Yes
4.1
#2
0 - 24.99%
Yes
4.0
#3
0 - 23.24%
Yes
3.0
#37
Secutity-Services
6.74 - 16.95%
Yes
1.8

The Good

  • Multiple credit card options
  • Low interest rates and fees
  • Online banking and bill pay

Multiple Credit Card Options

SSFCU offers multiple MasterCard credit card choices with options for low rates, cash back, and point redemption for merchandise, gift cards, and travel perks. Many cards are great for frequent travel purchases and debt consolidation purchases as fees on these services are limited compared to other marketplace offerings and there are extensive travel perks offered. The financial services company offers 1.5 percent cash back and three points for every dollar spent on qualified everyday purchases. All credit cards feature the following MasterCard benefits:

  • 120-day price protection
  • Extended warranty
  • Identity theft resolution services
  • Zero liability protection
  • Travel perks

Low Interest Rates and Fees

All credit card offers feature no annual fees and many card options do not charge cash advance or balance transfer fees. Purchase APRs range from 6.74 to 16.95 percent depending on card selection. Balance transfer APRs range from 7.90 percent to 9.90 percent depending on the chosen credit card. Some cards offer fixed balance transfer fees so customers can lock in a low rate. These interest rates and fees are among the lowest when compared to other similar industry competitors.

Online Banking and Bill Pay

Cardholders are able to enjoy many convenient features with the financial services company’s online banking and bill pay service. Customers can review and download account statements, transfer funds, and set up automatic recurring bill payments. Customers are also able to set custom alerts on transaction activities and bill payment reminders. Account holders may choose to receive real-time fraud alerts, opt into overdraft protection coverage, and manage reward options. Online banking can also be done on the company’s mobile app that can be downloaded to a customer’s smartphone or tablet.

The Bad

  • Penalty fees
  • Service limitations
  • Limited financial education resources

Penalty Fees

The financial services company charges up to $20 for returned payments and up to $25 for late payments. For cards that do charge foreign transaction fees, the charged rate is 1.10 percent of the total transaction amount.

Service Limitations

Consumers must sign up as a member in order to qualify for membership, but certain eligibility restrictions apply. Consumers must reside in either Texas, Colorado, or Utah, as well as be a military member or a family member of a military member. The financial services company does not provide specific information on the exact non-cash rewards a consumer can earn points for or how many points are needed to acquire the lowest cost item. For travel rewards, certain restrictions may apply and customers will be required to contact the company before leaving on any trip.

Limited Financial Education Resources

SSFCU does not offer any free educational resources on its website that are typically offered by other industry competitors. There are no informative articles on various financial topics or side-by-side comparisons of the company’s credit card offers. However, the company does offer calculators to help consumers calculate estimated monthly payments on various financial products such as personal loans, auto loans, investment yields, and retirement savings.

The Bottom Line

Security Service Federal Credit Union offers a comprehensive selection of MasterCard credit cards with a multitude of benefits and features. These cards are suitable for types of credit histories and offer lower APRs and interest rates than many other credit card offers in the marketplace. All card members receive 24/7 customer service and online account management services along with free fraud alerts and safeguard services. Customers are able to choose cards that feature low rates, cash back, or point redemption on everyday purchases.

However, the company only has service branches in three states. Customers must become a member in order to access the available financial products and services offered by SSFCU. To qualify for membership, customers must be enrolled as a military member or related to a military member and live near one of its service locations.

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