“Why? If for no other reason, nonprofit credit unions oftentimes offer lower interest rates on credit cards than for-profit issuers and banks do,” says Egan. “And that ultimately means more money in your pocket.”
According to the Credit Union National Association (CUNA), an industry group, the average interest rate for a basic credit card from a credit union was 11.81 percent in the first quarter of 2015, compared with 15.77 percent for a card from a bank.Close to 60 percent of credit unions offer credit cards, CUNA says.
Read more about the benefits of a credit union credit card here.