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Stick It to the Credit Card Companies. Here's How!

April 15, 2009

Denise Richardson has yet another great column in the Florida Sun Sentinal today.  She suggests switching from a credit card issued by a bank to one issued by a credit union.  She points to research showing that “credit union members were saving an average of $200 every month by transferring their credit card debt from a big bank to a credit union.”  Not bad!

Credit unions regulated by the National Credit Union Association cannot charge interest higher than 18% on their loans, which is another reason to consider switching.  Also, many don’t use Binding Mandatory Arbitration clauses.

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