Credit Card Balance Transfers

After the holiday season, many people take a closer look at their credit card balances — and the interest rates attached to them. If you’re carrying balances from holiday spending, now is a smart time to explore options that can help lower your monthly payment and reduce how much interest you pay over time.

One option many people overlook is switching from a high-interest credit card to a credit union credit card. Peninsula Federal Credit Union offers credit cards designed to help you save while keeping things simple. With branches in Escanaba, Laurium and Menominee, Peninsula Federal Credit Union serves the entire Upper Peninsula and Northeast Wisconsin.

Why Credit Union Credit Cards Typically Have Lower Interest Rates

Credit unions operate differently than banks. As member-owned financial cooperatives, credit unions exist to serve their members — not shareholders.

Because of that structure, credit union credit cards often feature:

· Lower interest rates

· Fewer fees

· More flexible repayment options

This member-first approach can result in meaningful savings over time, especially if you’re carrying a balance month to month.

Why After the Holidays Is the Perfect Time for a Balance Transfer

Holiday expenses can add up quickly. Travel, gifts, and seasonal spending often end up on credit cards with higher interest rates.

A balance transfer allows you to move those balances to a lower-rate credit card, which may help you:

· Reduce your monthly payment

· Pay less interest over time

· Make faster progress toward paying down debt

The sooner balances are transferred, the less interest continues to accrue.

How a Credit Union Balance Transfer Can Help You Save

Peninsula Federal Credit Union offers credit cards designed with member value in mind:

· No annual fee

· No Balance transfer fee

· Competitive interest rates compared to many national banks

Moving debt from a high-interest card to a lower-rate credit union card can result in long-term savings.

Local Service With Online Convenience

You don’t need to visit a branch to take advantage of a credit union credit card. Members can apply for a credit card online, securely submit information, and electronically sign documents from anywhere.

This makes it easy to manage your finances on your schedule — whether you live near one of our branches or simply prefer the convenience of online access. You get the benefits of a local, member-owned credit union with the ease of a digital experience.

Credit Union vs Bank Credit Cards: A Simple Comparison

Feature:                           Big Bank Credit Cards:               Credit Union Credit Cards:

Interest Rates:                          Often higher                                 Typically lower

Annual Fees:                             Common                                     Often none

Customer Service:                    Call Centers                                 Local, member-focused

Application Process:                 Online only                                  Online + local support

Is a Balance Transfer Right for You?

A balance transfer may be a good option if:

· You’re carrying balances on higher-interest credit cards

· You want to simplify payments

· You’re focused on reducing interest costs

· You prefer working with a local credit union

If you’re unsure, a PFCU team member can help review your options and answer questions — no pressure, just guidance.

Apply for a Credit Union Credit Card in the Upper Peninsula

Peninsula Federal Credit Union proudly serves members in the entire Upper Peninsula and Northeast Wisconsin with branches in Laurium, Menominee, and Escanaba, MI, offering credit cards with no annual fee and competitive rates designed to help you save.

With online applications and electronic signing, getting started is easy — whether you’re transferring a balance or opening your first credit union credit card.

Apply online or contact your local PFCU team to learn more.

Field of membership include the following counties: Alger, Baraga, Chippewa, Delta, Dickinson, Gogebic, Houghton, Iron, Keweenaw, Luce, Mackinac, Marquette, Menominee, Ontonagon and Schoolcraft Counties in Michigan along with Ashland, Florence, Forest, Iron, Marinette, Oconto and Vilas Counties in Wisconsin.

Bobbie McDonough

Marketing Supervisor

This blog is not on behalf of Peninsula Federal Credit Union.