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Union Plus Credit Card

• No Annual Fee
• 6.99% Fixed APR on Balance Transfers for the life of the balance
• $0 liability on any unauthorized charges
• Personal Customer Service - Speak with a representative 24 hours a day
• Apply now and receive a response within 60 seconds
• Online Balance Transfer immediately upon approval

Issuer :  HBSC Bank Nevada

Introductory APR : 1.99%

Introductory Period : 6 months

APR:  13.24%.  Also a 6.99% fixed APR is available on balance transfers for the life of the loan if a transfer is submitted during the first three months of card membership.  Note that The APR for purchases varies according to the applicant’s credit history and may range from 4.99% to 13.99% + Prime Rate.

Cash Advance Rate : 19.99% fixed rate

Annual Fee :  No annual fee.

Credit Line Possible:  The credit line possible when applying for a Union Plus credit card is dependent on an evaluation of your credit rating and personal resources.

Insurance included :  The Union Plus credit card offers auto rental insurance and up to $500,000 in travel accident insurance.

Financing Configuration – Interest is calculated according to the average daily balance (including purchases.)

Grace Period – You have twenty-five days after making a purchase with your Union plus credit card during which you do not have to pay interest.

The Best Thing About It – Over time the credit card company will increase your credit limit

The Worst Thing About It – This card has a lot of very expensive fees that make up for the lack of having to put down a security deposit.

Credit Rating Needed For Acceptance :  Good Credit.

Who Is It For?

The Union Plus MasterCard, issued by HSBC Bank Nevada, N.A., is designed for those with an average or limited credit history who are members of one of the AFL-CIO Unions (non-members are not eligible to apply for the card).

The Benefits

 

Qualifying Union Members get special protection in the case of a strike. The benefits offered to union members are "Strike Payment Protection" (allows members to skip payments for up to three consecutive months while the union is on a union-sanctioned strike or lockout for 30 days or more) and "Member Advocacy Program" (designed to help members resolve disputes and handle concerns regarding any of the Union Privilege programs).

You can improve your credit rating.  This card allows you to set your own spending limit so you can make timely payments. These timely payments will in turn be reported to the big three credit bureaus.

You can choose the date each month when you pay. You can choose your own pay date so your monthly credit card payment never defaults.

There is no account set up fee. There is no $19 account set up fee as there is on the other Orchard Bank credit cards.

Duplicate cards are free.  There is no fee for issuing duplicate cards.

You can keep track of all of your business expenses in one place.  You are also able to monitor what goes on in your account with full access to an online account report.

No Fraud Liability.  If you claim someone has stolen your Union Plus credit card then you do not have to be liable for the usual $50 that is typically deducted as fraud liability. Your are also protected by a Fraud Protection program, emergency cash replacement and emergency card replacement.

The Drawbacks

 

Monthly payments are applied to purchases before cash advances. The amounts that you pay monthly are not applied to the highest interest activities such as taking out a cash advance. This can make it difficult not to accumulate a lot of debt. 

A short grace period. Many credit cards don’t begin to garner interest on purchases until thirty days after purchase. The Union Plus credit card only gives you twenty-five days. There is also no grace period on balance transfers.

The APR is not guaranteed. If you make a late payment on any bill, not just your credit card bill, your introductory 0% rate can be replaced with a costly variable default rate

There are lots of hidden fees.  See the Fees to Watch Out For section below.  The fees charged for your every little financial transaction can really add up and make it seem like you are paying an annual fee anyway.

Fees To Watch Out For

 

Late payment fee : $15 on balances up to $100, and $25 on balances up to $1000, $35 if over $1000.

Over The Limit fee : $35.00

Cash advance Fee : 3% for each cash advance, with a minimum of $5 and no maximum.

Minimum Finance Charge :  Fifty cents.

To Summarize –

The Union Plus credit card has a lower interest rate and offers Skip Payment options to members of AFL-CIO Unions (non-members are not eligible to apply for the card). Being able to choose the date that you make your credit card payment is an advantage as it can help you pay your credit card bill on time.

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
1.99%	6 months	13.24%	None	Yes	Good Credit