LANHAM, Md. — The $241 million FedChoice Federal Credit Union has introduced a credit card designed to help members build a credit history.
The FirstChoice VISA card will carry a rate of 13.44% and a $500 credit limit. It will qualify for the Verified by Visa program for online purchase protection and zero liability protection which prevents the cardholder from paying anything if the card is lost and stolen.
"Getting started with credit can be tricky, especially if you don't have someone to co-sign for you," commented Kevin E. Roland, FedChoice sales and service manager. "With that in mind, we have developed a product in which FedChoice takes a small risk, or 'acts as co-signer,' to extend a low credit limit Visa card to qualified members."
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
