Designed specifically for union members and their families, the Union Plus Credit offers reasonably priced credit card options that also helps to support the labor movement.
With over 1 million union members and their families carrying this card, they receive special benefits, many of which are not available with other credit cards. There are two card options available: a cash rewards card that earns unlimited 1.5% cash back on all purchases and a low APR card that features a low introductory APR for 15 months.
The new Union Plus Credit Card has been redesigned for members that have average or limited credit and can build their credit through responsible use.
Pros
There are many advantages to enrolling with one of the two cards including:
- Access to CreditKeep to view credit reports and driver’s medical and social security records
- Access to the Union Plus Scholarship Program
- Access to the Union Plus Loan Program
- Credit card approved by the AFL-CIO
- Credit lines range from $500 to $15K depending on the card
- No annual fees
- Low foreign transaction fees
- Two skipped payments allowed within twelve months without penalty
- Special access to a union member advocate
- Special membership features as listed below
Additional Card Membership Features
After only three months of use after being approved, eligible cardholders will have access to several features that are not available on regular credit cards.
First, they will be available for several different types of grants that are paid directly to the cardholder and do not need to be repaid. These include:
- Disability Grants – $1,600 to $2,700 for those who have lost income due to long-term disability or an illness
- Hospital Grants – $1,200 in reimbursed hospital expenses
- Job Loss Grants – $300 in aid for those who have been recently laid off
- Strike Grants – $300 in assistance for those who are on a union-sanctioned strike or in a lockout
- Union Plus Disaster Relief Grants – $500 to help participants of the program who are facing financial hardship as a result of natural disasters
Second, all cardholders have $0 fraud liability protection when the card is lost or stolen. Cardholders also have access to discounted sporting event, park, museum and movie tickets, and there is a coupon center that allows members to save on basic items such as car rentals, entertainment and flowers. There are numerous educational resources provided by the company. Cardholders can also take advantage of up to $100,000 in travel insurance which covers them in the event of medical emergencies, accidents, cancellations, etc.
In addition to these other membership features, the free rewards program also offers the following benefits:
- 2,000 bonus points following the first purchase
- Earn 1 point for every dollar spent
- Earn 2 points for money spent at drugstores, gas stations and grocery stores
- No initial balance transfer fees
- Fixed APR until the entire balance is paid
- 1.99% introductory APR
- U.S.-based call center
Cons
- Balance transfer fees rise to 4%, which is high
- High interest rates of up to 23%
- Cash advance APR rate is high
For those that need to build or rebuild a credit history through responsible use, this is a good card to enroll in. Although several of the fees are extremely high, if you pay off your balance within a timely manner, there will not be significant interest added.
While almost all credit cards have additional fees, the Union Plus card seems to be a good choice given its extensive benefits and grants that are available beyond the costs of the credit card. With so many union members currently using the card, most cardholders are apparently satisfied with the services in which they are receiving from Union Plus.
