With offers of an additional 10% off your purchase or free merchandise, it's tempting to apply for credit cards from your favorite retail stores. Think twice, however, before signing up. If you don't pay the bill in full at the end of each month, you could end up paying much more than you originally would have saved.

That's because interest rates on retail cards average about ten percentage points higher than credit union credit cards.

Store cards usually offer special incentives for cardholders to increase loyalty and encourage them to spend more. The average household has about seven store-issued credit cards.

If you plan to buy a car or house in the near future, it can hurt your chances to get a loan at a favorable rate if you have many recently opened lines of credit. It's usually better to have one major credit card that you can use for all items you wish to charge.

GPFCU offers credit cards at great rates at 6.9% Balance Transfer and 9.9% New Purchases!  

6.9% Balance Transfer  (No Fee!)

9.9%  New Purchase

Your payments would be due the 28th of every month and the minimum payment would be 3% of your balance. 

As the Credit Card Coordinator, I have seen it all and here are a few things to keep in mind:

My first rule of thumb is to spend wisely!  Don't go above half of your credit limit as this will have a negative impact on your credit score (say your limit is $5,000.00 - don't go over $2,500.00).  

Do not use your card for day-to-day purchases or living expenses.  Instead, keep this line of credit open for major purchases such as appliances, furniture, car repairs, tires, etc. And you definitely don't want to put yourself in the position to be paying of this year's Christmas presents next year.

To save yourself paying unnecessary interest, I recommend paying more than your minimum balance.  The more you pay upfront, the less interest will accrue every month! 

Make sure to make your payments on time!  If you do not, you will be charged a late penalty fee of $20.00 with our credit card.  Not only is this bad for your credit score, it is bad for your wallet!  Make sure you are keeping track of your due date.  I recommend using a bill tracking or reminder app on your smart phone or tablet. 

If you are interested in applying for our Visa Credit Card, please click here to download  and print your application.  Please be sure to mail the application and a copy of a recent pay stub to:

Passavant Professional Building

1st Floor, Suite 1107 A

Pittsburgh, PA 15237

As always, I am here to answer any questions about the application process, payment, or any general credit card inquiries.  You may call me at 412.748.6338.  

Sincerely, 

Jan Snyder 

Credit Card Coordinator