Denise Richardson has yet another great column in the Florida Sun Sentinal today. She suggests switching from a credit card issued by a bank to one issued by a credit union. She points to research showing that “credit union members were saving an average of $200 every month by transferring their credit card debt from a big bank to a credit union.” Not bad!
Credit unions regulated by the National Credit Union Association cannot charge interest higher than 18% on their loans, which is another reason to consider switching. Also, many don’t use Binding Mandatory Arbitration clauses.
Tags: Binding Mandatory Arbitration, Credit Cards, credit union, Denise Richardson, tips