Recent Study Crowns Credit Unions “King”

So what is it that you look for in a credit card? For many people the answer to this once simple question has turned into a complex formula that has grown hard to answer. The reason is because now consumers have to think about more than the types of rewards they want; now they have to factor in increasing interest rates, fees and much more. So what is a person searching for a credit card to do? Well according to an article in Forbes entitled "Want A Better Credit Card? Consider A Credit Union, Study Says", a credit union may be right for you.

From this article, it seems that a recently released study now says that credit cards issued by the largest credit unions are much more consumer friendly than those of its big bank card issuing counterparts. In fact the study not only showed that the interest rates were much lower but also found that fees associated with the cards were too.

Before this last year many people have been finding themselves walking through the doors of a credit union for the great rates they receive on financial products other than plastic. Now it seems that the reason consumers are heading to credit unions is because of the credit cards themselves. Although we really do not know the exact number of people turning to credit unions for their card selections, there is one thing that we do know. We know that larger issuers are seeing this and it will be surprising to see how they can regain their market shares that are looking for a more consumer friendly alternative at the moment.