A Credit Card for Those "Oops" Moments

Overspending happens. A credit card from Cedar Point could help you get back on track. 

I WANT THE CARD

Have you been racking up those credit card balances recently? Maybe you've been doing more online shopping than you should? We've got you covered for all those "oops" moments.
Open a new credit card with Cedar Point and transfer your balances to get back on track! Cedar Point consistently offers low rates, empowering you to pay off your debt sooner and save money.

A low rate credit card from Cedar Point offers all sorts of money-saving perks.

• SIMPLICITY: Turn multiple payments into one payment.
• CONVENIENCE: Pay your balance in digital banking.
• LOCK IN A LOW RATE: Save on interest in the long run.
• FIXED-RATE: There is no penalty rate or variable rate.
• NO BALANCE TRANSFER FEE: You can concentrate on saving.
• PAY IT DOWN: With a lower rate, you can pay down debt faster.

Rates

Rates are fixed. Rate information is accurate as of June 1, 2020.

*When you open your account, based on creditworthiness.
All rates are subject to change. Rate information is as accurate as possible, however, please contact the credit union to verify current rates or if you would like a disclosure mailed to you.

Balance Transfer

A balance transfer is a way to move credit card debt from one credit card to another to save money on interest. When you transfer your balance(s) to a Cedar Point credit card, you can consolidate your debt, while also accessing a lower, fixed rate. Lower rates can help you save money on your monthly payments and help you pay off your debt sooner. Plus, there is no balance transfer fee.

Here's an example of what your monthly interest savings might look like if you transfer your balances to Cedar Point.

 In the scenario above, your monthly payment would be reduced by $18. And you'd be saving over $30 on interest alone. Over time, those savings really add up.

Do the Math

If you carry a balance, with an APR between 15 – 20%, almost half of every minimum payment made is consumed by interest charges. With over 20% APR, that becomes nearly two-thirds of your minimum payment. The example below reflects a $1000 balance.

If your minimum payment is $25 on your $1000 balance:

• At 15% APR, you will pay $12.50 of the $25.00 in interest alone. Exactly half of your minimum payment is committed to paying off accrued interest.
• At 20% APR, you will pay $16.67 of the $25.00 in interest. Here, you'll only be paying down $8.33 of principal.
• At 22% APR (which is a common APR for many reward credit cards), you'll be paying $18.33 in interest charges.

With a rate as low as 7% from Cedar Point, you would be paying more toward the principal to help you decrease your debt faster.