Safe Credit Union

Author: Kaitlyn Short

For more than 75 years, Safe Credit Union has worked to develop business practices, services, and policies that bring the best customer service to every member. Those who live within the Sacramento, California, area can take advantage of what this experienced credit union has to offer, including checking and savings accounts, several types of loans, credit cards, and wealth management services.

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The Good

• Small annual fees
• Security options

Small Annual Fees

An annual fee is a common additional charge attached to several credit cards. The amount that the customer is required to pay for these fees varies based on financial institution and specific card. Luckily, Safe Credit Union's annual fees are minimal. For one if its cards, no annual fees are attached. For the other card, the annual fee is just $15.

Security Options

The security of any financial account is a top priority for many consumers because these accounts typically contain personal information and funds, making them vulnerable to fraud and theft. Safe Credit Union cardholders have the option to opt in to the company's Safe Guard program. Once enrolled, customers will have additional security measures, including zero liability for fraudulent transactions, added to their accounts.

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The Bad

• APR rates
• Rewards options

APR Rates

The APR rate attached to a credit card is another important factor that many consumers look at when they are shopping for a new card. Generally, rates vary depending on financial institution, card, and individual credit history. This means that two customers of the same credit card company may each receive a different APR. Safe Credit Union's APRs, which range from 9.0 to 19.5 percent, are relatively high when compared to those offered by some of the other top companies in the industry.

Rewards Options

There are two credit cards offered through Safe Credit Union that have rewards programs attached-the Platinum Rewards Visa and the Platinum Cash Rewards Visa. Between the two of these cards, there are a lot of options for how customers can redeem the rewards points that they earn through their spending each month. However, customers are limited based on the card that they choose because not all options are available for both cards. The Platinum Rewards Visa allows customers to choose between travel and merchandise rewards, meaning that they can apply their rewards to travel miles, hotel bookings, or a selection of merchandise. The Platinum Cash Rewards Visa allows customers to get cash back for the points they earned that can either be used towards the card's balance or deposited into a checking account. Each of these options is attractive, but a customer may want to change which rewards they get based on what is going on in their lives at that time and will not be able to.

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The Bottom Line

The number of people who could potentially become a Safe Credit Union member and use one of its credit cards is pretty limited since the company only serves a small geographic area. Additionally, Safe Credit Union charges relatively high APR rates and its rewards programs have limitations. However, those who are eligible to receive a Safe Credit Union card can take advantage of no annual fees and security features.