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Credit Union News

Columnist Praises RBFCU Credit Cards

In the Oct. 30 San Antonio Express-News, credit unions, and in particular RBFCU, received praise for fair and consumer-friendly credit card practices. The article included information about the highly competitive MasterCard rates we provide our members. For more information on the cards we offer and our philosophy on providing credit to members, read below:

Good credit can equal a bad deal for some bank customers as financial institutions continue to raise rates. In the past year, banks have sharply increased the interest and fees that their credit card users pay - sometimes based on credit score, sometimes based on outstanding balances and sometimes for no apparent reason at all.

Responsible credit card users shouldn't be punished for making good financial decisions or for paying bills on time. However, with the annual fees tacked on to other financial institutions' credit cards, those who manage their money appropriately aren't being rewarded for their good stewardship; instead, they're being punished with excessive new fees.

In addition, some cardholders are being charged fees for not using their credit cards. Inactivity shouldn't be a reason to implement a fee; however, some banks are planning to charge their card users if they don't use the credit cards often enough.

At RBFCU, our MasterCard® options provide members with a useful resource; they're not just one more way to tack on fees. We work to keep your rates low and we maintain outstanding reward programs like the Gold Cash Back MasterCard and the Platinum Rewards MasterCard without the use of annual fees. And with the Platinum Preferred Rate MasterCard, we're keeping it simple with a lower rate.

While some financial institutions use credit accounts, and ever-increasing fees, as a way to shore up lagging revenues, at RBFCU, we're continuing to use credit as a tool for our members and an additional way to bring value to RBFCU membership.