Security Service Federal Credit Union (SSFCU) introduced a new credit card with an ultra-low variable APR of 6.49% and no annual fees Tuesday. It’s one of the credit union’s new Power products, which include a new checking account solution and two additional credit cards that feature rewards of up to three points for every $1 spent on gas, travel and dining; no annual or cash advance fees; and some of the lowest APRs in the market for rewards cards.
“We spent a great deal of time re-designing our new products around the feedback we received from our members,” said Jim Laffoon, president and chief executive officer of SSFCU. “They told us they wanted lower fees and better rewards. We delivered.”
In addition to 6.49% low APR card, SSFCU launched a reward card with no annual, balance transfer or cash advance fees; one point for every dollar spent and a low APR (starting at 12.75%). A second reward card is a high-end travelers card offering three points for every dollar spent on gas, travel and dining; one point per dollar on any other purchases; an additional annual points bonus of 10 percent on points earned; no annual, cash advance or balance transfer fees, 0% APR for the first six months and points bonuses for opening the account and using it. “It’s one of the strongest travel reward cards on the market right now,” added Laffoon.
With the new Power Checking and Power Youth Checking accounts, members can choose to get ten cents cash back on every debit card swipe or rewards points for signature-based transactions. The accounts feature no hidden fees, no minimum balance and an interest rate that grows with deposits. If members also hold a rewards-based credit card and they choose reward points on their checking account, SSFCU will automatically combine debit and credit card points, helping members rack up rewards even faster.
In an effort to combat fraud and increase security sooner rather than later, all newly-issued SSFCU Power credit cards will be EMV chip equipped starting in October 2014, with EMV-chipped Power debit cards rolled out in 2015.
“We wanted to offer our members in Texas, Colorado and Utah the choice of highly competitive financial products,” said Laffoon. “These new no annual fee options are great for members who are actively looking to lower costs and build rewards.” Earlier this year, SSFCU also rolled out a new Power Mortgage with no closing costs up to $5,000, no origination fee and low interest rates on both home purchases and refinances
Individuals must qualify for membership, but there are more than 2,600 different ways to join SSFCU. For more information, and for details on ways to qualify for membership, visit www.ssfcu.org or call 1-800-52-SSFCU.
Membership eligibility required. “Swipes” do not include ATM transactions, returns, any checks that access your account, or overdraft advances. The term “interest” refers to dividends. Security Service Power Checking is a Blended Rate Tier account, which means the dividend rate will only be paid on the portion of your daily balance within each Balance Tier. Rate is variable and may change after the account is opened. For complete rate and tier information, visit ssfcu.org. Visit a branch or ssfcu.org for details. Federally insured by NCUA.
APR = Annual Percentage Rate. Other rates may apply based on credit worthiness.
Power Travel Rewards Credit Card subject to credit approval and income requirements. Receive 10% annual point bonus on the points earned in one year with the Power Travel Rewards Credit Card. Annual bonus is calculated on anniversary date of account enrollment and credited to the account within 30 days. Annual bonus does not apply to transferred points, combined points from a Power Checking account, or rollover points from previous year. Please refer to the Security Service Federal Credit Union Rewards Program agreement for complete details. Introductory 2,500 bonus points offer applies when $500 is spent on card within the first 90 days of account opening. Upon meeting this requirement, bonus points will be automatically deposited into your account. The introductory 0% APR is only available on transactions performed within the fi rst 6 months of the account being opened. The 6-month 0% APR period for each category (i.e. purchases, balance transfers, and cash advances) begins on the date of the first transaction for that category and continues until the end of the 6th billing cycle of the fi rst transaction for that category. Restrictions apply. Please refer to the Credit Card Rate Agreement for current balance transfer rates and complete details.
Power Mortgage offer does not cover mortgage insurance, seller paid closing costs, discount points, or pre-paids & reserves. The program is not valid for FHA or VA loans. If loan is closed or paid off within first 36 months of the term, member may be required to reimburse all or some of the closing costs paid by Security Service. Financing available for properties in Texas, Colorado, or Utah only.
About Security Service Federal Credit Union
Security Service Federal Credit Union offers competitive, affordable financial products and services designed to meet the needs of its members. Headquartered in San Antonio, Texas, Security Service is an industry-leading financial institution with $7.9 billion in assets and 70 locations in Texas, Colorado and Utah. The credit union is among the top 10 credit unions in the nation. Security Service strives to be America’s best credit union and provides the true benefits of credit union membership with financial services of the highest quality and value. Learn more at www.ssfcu.org or call 1-800-52-SSFCU.