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Union Plus Credit Card Review
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The Union Plus Credit Card was last reviewed on 11th February 2007
Summary - The recent layoffs by Ford this year, General Motors and Delphi last year has resulted in lots of layoffs for union members who work in the auto industry. If you are a union member and have not got this credit card already, then you should definitely think about getting the Union Plus credit card. This card offer some special benefits which other credit cards do not offer. For example,
You get Skip Payment Privileges - which allows you to skip two payments during a twelve month periodFour strike skip payments in the event of a union sanctioned strike or lock-out for 30 days or moreAccess to Union Plus scholarship program, a scholarship that is funded by the Union Plus Credit Card program for union membersAccess to Union Plus loan program - which offers more favorable loan terms for union membersAccess to CreditKeeper - which allows you access to your combined credit reports from the 3 national credit agencies, review your driver's, medical and social security records.
Let's explore this card further.
Unique Benefits for Cardholders
The Union Plus Credit Card offers a few very unique features for the cardholder that are not found in other cards. These are the features you get.
Skip Payment options - The Union Plus Credit Card allows you to skip two payments during a twelve month period should you meet any financial difficulties.
Strike Payment Protection - The Union Plus Credit Card also allows you to skip up to four payments within a twelve period due to a union sanctioned strike or due to a lock-out for 30 days or more. Note that you cannot the Skip Payment and Strike Payment options for three consecutive months.
Access to Union Plus Scholarship Program - This program is funded by the Union Plus Credit Card Program for union members. It is open to union members, their spouses and dependent children. To date, this program has awarded over $1.7 million to deserving children.
Access to Union Plus Loan Program - The Union Plus Loan Program offers more favorable loan terms to union members, whether it be longer payments, low competitive rates on various loans. It gives union members an alternative to getting financing.
Access to CreditKeeper - Union Plus cardholders are allowed to enroll in CreditKeeper - a service that allows you to access your credit reports and scores from the three main credit agencies, your driver's record, medical records and social security records.
Only Credit Card endorsed by AFL-CIO - This is the only credit card endorsed by the AFL-CIO.
Annual Fee and APR - There is no annual fee for the Union Plus Credit Card. The apr ranges between prime rate plus 4.99% and 13.99%. You also get an introductory apr of 8.99% for the life of the balance transfer. The average daily balance method (including new purchases) is used to calculate monthly balances. The grace period is 25 days (slightly longer than the usual 20 days for most other cards).
Verdict - We recommend the Union Plus Credit Card to anyone who is a union member because of the great benefits you will get that are not available with any other credit card. The Skip and Strike Payment options are particularly valuable when one is facing a temporary cash flow problem. You will also get access to the Union Plus Loan Program, which will give you an alternative source of finance. The Scholarship Program will also be very useful to many union members.
Positives
Skip Payment Option - can skip up to 2 payments within 12 monthsStrike Payment Option - skip up to 4 payments within a 12 month periodAccess to Union Plus Loan ProgramAccess to Union Plus Scholarship ProgramOnly credit card approved by the AFL-CIONo annual fee
| Union Plus Credit Card |
| Travel and Insurance Benefits |
| $100,000 in travel insurance |
| Other Benefits |
You are allowed to skip 2 payments without affecting your credit standing
If you are out work due to strike, you can skip 4 payments without affecting your credit standing. |
| Cost/Fees/Interest rates |
| Introductory rate |
8.99% APR for life of first balance transfer. |
| Annual Fees |
No annual fee |
| Purchase APR |
Prime Rate plus 4.99% to 13.99% |
| Balance Transfer APR |
Prime Rate plus 4.99% to 13.99% |
| Cash Advance APR |
19.99% |
| Min Finance Charge |
$0.50 |
| Grace Period |
25 days |
| Balance Calculation Method |
Average Daily Balance (including new purchases) |
| Cash Advance Fee |
3% min $5.00 |
| Balance Transfer Fee |
3% min $5.00 |
| Over-the-credit-limit fee |
$39.00 |
| Late Payment fee |
$15.00 - up to $100
$25.00 - $100.01-$1000
$35.00 - greater than $1000 |
Apply for the Union Plus Credit Card
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