South Carolina Federal Credit...

South Carolina Federal Credit Union

Servicing members since 1936, South Carolina Federal Credit Union has partnered with MasterCard to provide a credit card that gives purchasing power to its members with affordable base annual percentage rates, an extensive rewards program, fraud protection, and additional cardholder benefits without annual fees. However, the company does charge a foreign transaction fee.

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#43 3.7 -- Current

The Good

  • Low starting APR
  • Rewards program
  • No annual fees
  • Fraud protection
  • Cardholder benefits

Low Starting APR

With competitive starting APRs currently as low as 8.5 percent, potential cardholders with good credit history will enjoy this card and its affordable rates.

Reward Program

In partnership with the uChoose Rewards program, the Chip MasterCard allows cardholders to redeem points they earn with purchases for things like travel, gas, groceries, and gift cards from over a hundred different merchants. With the uChoose app, cardholders can easily manage and keep track of their points, as well as, share points with other family members and friends also a part of the uChoose program.

No Annual Fees

The Chip MasterCard comes with no annual fees for cardholders as long as they remain members of South Carolina Federal Credit Union.

Fraud Protection

South Carolina Federal Credit Union's Chip MasterCard credit card comes with MasterCard's SecureCode system, which provides added peace of mind for cardholders who like to shop online. This online security service guards against unauthorized use of the card through the use of software that can be installed when enrolling for the service. This security system also adds an extra authentication step to protect purchases and give cardholders confidence while shopping online. In addition, MasterCard ID Theft Protection provides access to a number of additional identity theft resolution services to assist those that feel they may have been a victim of identity theft.

Cardholder Benefits

In addition to the uChoose rewards program, there are a variety of cardholder benefits that come along with the Chip MasterCard. These additional benefits include extended warranties on newly purchased items, price protection that can lock in rates on online retail stores where prices fluctuate, and airport concierge services that provide cardholders with 15 percent savings on meet-and-greet airport services that offer an escort at over 450 destinations worldwide.

The Bad

  • Unclear maximum APR
  • Foreign transaction fees
  • Undisclosed late fees
  • No credit monitoring

Unclear Maximum APR

As mentioned above, South Carolina Federal Credit Union's credit cards offers competitive starting annual percentage rates (ARPs) for cardholders. However, there is no further information for perspective cardholders about what range these variable APRs could increase to. This could prevent potential cardholders from signing up due to terms and conditions that could change after signing up for the credit card.

Foreign Transaction Fees

The average credit card company charges a fee for foreign transactions outside of the United States. This fee typically falls around the 1 percent mark. However, South Carolina Federal Credit Union charges a 2 percent fee for foreign transactions, which can be a deterrent for frequent travelers.

Undisclosed Late Fees

There is no information offered to perspective cardholders about late fees or what the penalty might be for making a late payment. This lack of transparency can be frustrating for potential customers.

No Credit Score Reporting

Despite many credit card companies offering a free monthly credit report as a part of their services, South Carolina Federal Credit Union does not offer such report and score overview at this point in time. This means those looking to acquire this information will need to seek assistance from a third party source to learn more about their credit information.

The Bottom Line

Perspective cardholders will enjoy the Chip MasterCard from South Carolina Federal Credit Union if they have good credit. The company offers APRs as low as 8.5 percent, a rewards program, no annual fees, fraud protection, and other benefits.

However, individuals with less-than-perfect credit may want to consider other options because it is unclear with South Carolina Federal Credit Union's APRs cap at. Additionally, the company charges foreign transaction fees and does not offer free credit score tracking.

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