The Big Ticket Card provides an interest-free grace period for major purchases.
Coastal Federal Credit Union has launched a credit card aimed at helping members finance purchases of big ticket items such as appliances and furniture.
Dubbed the “Big Ticket Card,” the new Visa branded card offers members six months of zero interest on all purchases of $600 or more. And the card does not limit the number of times a user can take advantage of the six-month interest-free financing.
“The Big Ticket Card is a great option for members who need to make a big purchase,” said Willard Ross, Coastal’s chief retail officer. “Members now have the ability to purchase a new flat screen TV or a new washing machine at any retailer that accepts Visa, with the option to pay it all off over the six-month interest-free period. This unique feature opens up the opportunity for our membership to shop with peace of mind by shopping for the best price without being tied to in-store financing.”
Coastal’s Marketing Manager Joe Mecca explained that the card, which carries a credit limit, is aimed at members who purchased new homes, put a child into college or otherwise faced a series of larger purchases or needs at varying times.
“We wanted to help members make purchase decisions based on price and not on whether a given retailer will provide financing or not,” Mecca explained. “We want to make sure our members walked into a retailer knowing they had the best deal on financing their purchase in their back pockets already.”
The 193,000- member $2.1 billion Coastal FCU is based in Raleigh, N.C.
