With rising interest rates and a fluctuating economy, we hope it helps knowing that your credit union has your back and that we work hard to offer you some of the lowest lending rates in the country.
4.99% APR on purchases made in May and June!
Killed in the Line of Duty Loan Protection
National Police Credit Union is pleased to offer Killed in the Line of Duty Loan Protection, a special debt cancellation benefit created exclusively for active full-time Law Enforcement Officers.
Arm Yourself with Benefits!
National Police Credit Union's BillPay Address is: Chicago Patrolmen's Federal Credit Union 1407 W. Washington Blvd., Chicago, IL 60607
All transactions made with your debit card are listed on your monthly account statement.
A PIN is a numeric code you enter to enable a transaction at an ATM or point-of-sale terminal.
Tell the merchant you want to make a credit purchase and sign the receipt.
No. You may need to present identification to the merchant, however, no other personal banking information, such as your PIN or account balance, can be accessed by merchants.
Please call the credit union at (844) COP-SAVE, or contact Visa directly.
Yes, please. Complete the Travel Exemption form at least two days before you travel outside of the U.S.
Rewards Versus Low Interest Credit Cards
A credit card is considered a revolving debt. When your first credit card arrives in the mail, you have a credit limit assigned to you based on several factors, including your credit history, credit score, and current income level. When you use the line of credit, you are given a period of time to pay off the charges without incurring interest. If you bring a balance forward, you will then have to pay interest on the remaining balance. If you shop around, you can find credit cards that offer great rewards, or non-variable interest rates. If used wisely, these credit cards can extend your buying power and even give you “cash back” or provide other valuable rewards such as travel and discounts.
What “type” of credit cards are currently on the market?
There is a credit card for virtually every level of credit, from a student’s introductory Visa card, which requires little credit history to apply, to the most exclusive ones for those with unvarnished credit history, and everything in between. Each card has a different appeal: some offer low- or no-introductory APR (Annual Percentage Rate) financing or great low rates on large purchases, while others have a points or miles rewards system.
Students and First Time Borrowers
For students and those who have just entered the job market, credit is a hard thing to come by. There is a largely-held myth that you need a credit card in order to build credit. This isn’t true, but it isn’t totally false. By paying your bills on time, you can build a solid and highly-rated credit history. This process can take years, though, which isn’t always ideal.
Starting out with a student credit card, you can begin to build your credit faster than through bill payment alone. Beware, though, of the lure to spend more than you have-- always try to pay off your balance on time and in full to get the most out of your credit card.
More advantages of Student Credit Cards Include:
Individuals with established credit enjoy more credit card choices. Depending on your credit history and score, you will need to look at the difference between credit card benefits, such as rewards or rates, when choosing the best card for your lifestyle.
Rewards credit cards are great for people who do not carry a monthly balance. When you use a rewards card as your regular credit card, it can help you earn gifts, such as a vacation or new TV, depending on your program and desires. Some cards, such as the National Police Credit Union Copper Cash Back Card, offers you a percentage of your purchases in terms of cash paid back to you. By making regular purchases and paying your bills on time and in full, you earn points, miles, or cash back, all of which can add up fast! As always, be sure to read the credit card details before you sign up, and keep up with the schedule of fees.
Credit cards that offer a low rate are good for people who need to make big purchases but require several monthly payments to complete the transaction. Low credit card interest rates mean that when you make a large purchase, you aren’t penalized for paying over a period of months.
Most of these cards only offer low rates for a limited period of time, after which rates are increased. If you plan to pay off your outstanding balance within the introductory time, then a low-rate card is the one for you.
In the end, you have to do the digging for yourself to determine which type of credit card benefits you the most.
*APR = Annual Percentage Rate.
**Credit limit subject to credit qualification.
***Refer to program specifics regarding establishment of credit limit.