A credit card can provide numerous benefits and conveniences in managing personal finances. It offers a flexible payment option, allowing you to make purchases and pay them off over time. Credit cards also provide a secure method for online shopping and offer additional perks such as rewards programs, cashback, travel benefits, and purchase protection.
Mastercard Credit Card
Mastercard Type | APR | Rewards | Annual Fees | Max Initial Credit Limit |
|---|---|---|---|---|
Classic | 11.9% | CU Travel Hotel Dollars | x | $10,000 |
Gold | 8.9% (6.9% for the first 6 months) | CURewards + CU Travel Hotel Dollars | x | $20,000 |
Platinum | 7.9% (5.9% for the first 6 months) | CURewards + CU Travel Hotel Dollars | x | $20,000 |
*Rates are subject to credit approval and may vary based on creditworthiness. APR = Annual Percentage Rate. For complete rate, fee, and agreement details, review our card disclosures: Classic Card Disclosure | Gold Card Disclosure | Platinum Card Disclosure
Balance Transfers
Transfer your high interest credit card balances onto the NYU FCU Mastercard.
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Given qualifying credit history, credit score, and income, we allow balance transfers up to $25,000 on our Platinum and Gold Credit Cards. Balance transfers are subject to a $0 balance transfer fee and are charged the same Annual Percentage Rate (APR) as purchases. Permanent credit limits are determined based on income and creditworthiness.
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*Subject to credit approval.
Secured Mastercard Credit Card
If you have no credit history or have been denied for a credit card before, the Secured Credit Card is for you.
The Secured Credit Card is just like the Classic Credit card, however, we require a 125% pledge in the savings account for the duration that the credit card is open. You would pay the credit card monthly and if you were to default the funds would be taken from the pledge of 125% of the credit limit to pay off the credit card. The activity on the Secured Credit Card reports to all three credit agencies and is ideal for helping a new graduate or immigrant or simply anyone who doesn't have great credit already build up their credit history.
A NYU FCU share account is required. Along with all of the necessary documents for a credit card, you will need to sign a Pledge of shares agreement. The deposit of the collateral pledge of 125% of the line of credit must be made.
The minimum credit limit is $500 on the Secured Credit Card.