WHAT IS A FIXED RATE CARD?

  • Fixed Rate Credit Card accounts are credit cards branded by VISA that have an established credit limit provided by the issuer.
  • These accounts are contingent on pre-established credit history.
  • There is a set and approved credit limit for use with the credit card account.
  • Availability of credit limit amounts are dependent on transactions posted for purchases and payments to the account. This may reduce the revolving credit limit available.
  • If transactions are made, a payment is required monthly, on a specific due date, until the outstanding balance on the credit card is paid in full.
  • The Visa Fixed Rate Credit Card account is subject to penalty fees for late payments, returned payment fees and fees on certain types of transactions, etc.
  • Interest charges and finance charges may be applied to the account balance if the account is not paid in full each billing cycle.
  • Cardholders are responsible for timely payments on specific due dates.
  • Visa Fixed Rate Credit Card accounts are not “reloadable”.

HOW TO OBTAIN A FIXED RATE CREDIT CARD?

  • Members may apply for the Visa Fixed Rate Credit Card Account by applying at a credit union location or by visiting our website.
  • No phone applications are accepted.
  • Credit Card applications are subject to Underwriter’s approval.
  • Underwriting guidelines are not for public knowledge.

HOW TO QUALIFY FOR A FIXED RATE CREDIT CARD?

These are our general guidelines:

  • Legal age (18 or older) in the state of your residence for a credit card.
  • Reside in the United States.
  • Meet our minimum debt to income requirements.

WHO CAN APPLY?

Any Adult is welcome to apply for the account if the applicant understands he/she must have an income source that is not someone else’s income. The income must be from the APPLICANT.  Joint applications are also available, if applicable.

IS IT POSSIBLE TO HAVE A JOINT CREDIT CARD?

  • Yes.
  • Both parties must be on the credit application.

WHAT WILL MY CREDIT LIMIT BE IF I AM APPROVED FOR A FIXED RATECARD?

Your credit limit will be based of income. Limits can range from $1000.00 to $20,000.00.

WHAT IS THE TURNAROUND TIME FOR FIXED RATE CREDIT CARD APPROVAL?

Up to 2-3 business days, other circumstances may delay the approval time, as applicable.

WHAT IS THE DELIVERY TIME FOR CREDIT CARDS?

  • Regular delivery = Typically between 10-14 days after the approval of the credit card application. Holidays and weather may impact delivery times.
  • Expedited mailing is available for a fee. Expedited mailing is delivered 2 days after approval of the application.

CAN CARDS BE DELIVERED TO A PO BOX?

Yes.

CAN CARDS HAVE EXPEDITED DELIVERY TO A PO BOX?

No, expedited cards must be delivered to a physical address and there must be someone there to sign for the delivery. There is a charge for expedited cards.

HOW TO MAKE PAYMENTS FOR THE SECURED CREDIT BUILDER CREDIT CARD?

  • Mailing a check and the payment stub from the monthly statement to the address provided.
  • KUMC Credit Union locations can accept a payment (Cash, Check, Transfer, etc.).
  • Members can pay online at kumccu.org or mobile app using Member.Net if needed.
  • Online by using ezcardinfo.com to set up a one-time payment or recurring ACH payments using a Share Draft Account (checking) or Share Account (savings) account.

HOW TO AVOID PAYING INTEREST?

  • Interest charges will not be imposed if you pay your entire balance, including purchase and balance transfer transactions, in full by the due date each month.
  • Interest does begin accruing on cash advance transactions as of the date of the transaction.
  • Each due date will be the 4th of each month.

DO YOU REPORT TO THE CREDIT BUREAUS?

Yes. We report your repayment and performance history to all three bureaus.