Consumer Payment Card News

Mid-Atlantic Credit Union Credit Cards are Piranhas

Mid-Atlantic Credit Unions

Mid-Atlantic credit union credit cards are smack next door to the credit card giants issuing out of Delaware but hold their own with very competitive pricing. Most Mid-Atlantic credit unions offer a some version of a no annual fee rewards card.

One notable benefit cited by Del-One Federal Credit Union is not only a 0% intro interest rate but also instant insurance. SECU MD offers a fixed 5.99% APR for the life of balance transfer and Affinity offers a 12-month 2.99% APR on balance transfers.

The five states in the Mid-Atlantic credit card market include New York, Maryland, Pennsylvania, New Jersey, and Delaware with a total population of 49 million.

Despite the big boys in national credit cards operating in the market, the Mid-Atlantic credit unions are like piranhas nibbling away customers with rock bottom promotional rates, rewards, and no pesky annual fee, notes Robert McKinley, Senior Analyst for CardTrak, CardFlash and CardData.

New York

Bethpage Federal Credit Union has more than 400,000 members, offers three personal credit cards and three business credit cards. The most popular personal credit card is Mastercard Be You Rewards Credit Card.

The Bethpage Federal Credit Union Mastercard Be You Rewards Credit Card offers 2 points for every $1 you spend and 3 points for every $1 spent in one of four categories: Airline; Dining; Groceries, and Taxis (limousines, Uber, and Lyft). A bonus offer of 25,000 promotional points is earned by spending $3,000 within the first 90 days.

The card carries a $95 annual fee and credit lines range from $500 to $35,000. There is no balance transaction fee or foreign transaction fee. The variable interest rate is prime-based and risk-based, currently ranging from 13.40% to 18.00%.

Bethpage FCU also offers:

Mastercard Low Rate Card

Mastercard Cash Back Credit Card

Low Interest Rate Business Mastercard

Cash Back Rewards Business Mastercard

Points Rewards Business Mastercard

Bethpage FCU, based in Bethpage, with nearly $9 billion in assets, is ranked as #16 largest credit union in the U.S. Membership is open to anyone with a $5 savings account.

Maryland

SECU MD, based in Linthicum, has nearly 300,000 members, and offers eight personal credit cards and one business credit card. The most popular personal credit card is SECU Visa Signature Card.

The SECU Visa Signature Card offers 3x points on dining, travel, Amazon, and iTunes; 2x points on gas and groceries; and 1x points on everything else. A bonus offer of 25,000 promotional points is earned by spending $2,000 within the first 90 days.

There is no annual fee, balance transfer fee, cash advance fee, or international transaction fee. The variable interest rate is prime-based and risk-based, currently ranging from 13.74% to 21.74%. There is special 5.99% APR, for the life of the loan from 08/05/2019 when transfers are completed by 09/30/2019.

SECU MD also offers:

SECU Cash Back Visa Card

SECU Rewards Visa Card

SECU FirstRate Visa Card

SECU Aspire Visa Card

SECU Aspire Secured Visa Card

SECU Aspire Student Visa Card

SECU Towson University Visa Signature Card

SECU Business Cash Back Visa Card

SECU MD has nearly $4 billion in assets and has been open since 1951.

Pennsylvania

PSECU, based in Harrisburg, has nearly 500,000 members, and offers four personal credit cards and one business credit card. The most popular personal credit card is the PSECU Founder’s Visa Signature Credit Card.

The PSECU Founder’s Visa Signature Credit Card offers cash back rewards of 2% or 1.5% on every purchase; no rotating categories and no limits on how much cash back you can earn; rewards never expire. Visa Signature benefits are automatically provided for credit lines of $5,000 or more.

The card also offers a special promotional 3.9% APR on balance transfers from the time that the transaction posts until 12/31/20. The on-going interest is variable prime-based and is currently 14.40% for purchases and cash advances. There is no annual fee, balance transfer fee, cash advance fee, or international transaction fee.

PSECU also offers:

PSECU Visa Classic Credit Card

PSECU Visa Alumni Classic Credit Card

PSECU Alumni Rewards Visa Credit Card

PSECU Business Visa Credit Card

PSECU has nearly $6 billion in assets and is the largest credit union in Pennsylvania.

New Jersey

Affinity Federal Credit Union, based in Basking Ridge, has nearly 200,000 members, and offers four personal credit cards and one business credit card. The most popular personal credit card is the Affinity Premium Visa Credit Card.

The Affinity Premium Visa Credit Card offers a promotional 12-month introductory rate of 2.99%. Afterwards, the variable and risk-based interest rate currently ranges from 10.60% to 16.60%.

There is no annual fee.

Affinity FCU also offers:

Affinity Pure Rewards Visa Credit Card

Affinity Cash Rewards Visa Signature Credit Card

Affinity Secured Visa Credit Card

Affinity Business First Visa Credit Card

Affinity FCU has more than $3 billion in assets and is the largest credit union in New Jersey.

Delaware

Del-One Federal Credit Union, based in Dover, has nearly 70,000 members, and offers three personal credit cards. The most popular personal credit card is the Better Life VISA – Premier Card.

The Better Life VISA – Premier Card offers cash back options and uChoose Rewards earning points for merchandise, travel, and cash back options at a rate of one point for every dollar spent. The card also can be issued instantly. There is also a promotional 0% APR for the first 6 months.

There is no annual fee or balance transfer fee. Variable interest rates are risk-based and currently range from 11.50% to 17.50%.

Del-One FCU also offers:

Student Life VISA

Shared Secured VISA

Del-One FCU has more than $500 million in assets and is the largest credit union in Delaware.