Credit Cards & 1st time Auto Buyer Flashcards
Share Secured Credit Card
Limits?
How’s it work?
Credit Limits of $500 - $5000 (limit is determined by amount deposited)
Secured by deposit into a share type 10
Credit has to qualify
MC Inspire Credit Card
Limits?
Perks?
Limits of $500 - $25,000 (Amount determined by credit qualification)
6 months of 0% APR for purchases and balance transfers
Offers a skip payment in December
No annual, cash advance, balance transfer, or over limit fees
MC School Employee Credit Card
Perks?
Incentives?
1.5% Cash Back (Cash back goes into Summer Saver or Primary Savings)
Skip-Payment option in December
No annual fee, no balance transfer or cash advance fees
TRIP (Timely Repayment Incentive Program) available for Tiers 2 through 5
(Automatically lower your rate by 0.50% for every year you make on-time payments)
Credit limit $500 - $25,000
MC Rewards Credit Card
Limits?
Perks?
Receive 10,000 rewards points at card opening
1.5 points for every dollar spent (points can be redeemed for cash or other rewards)
Points never expire
No annual, cash advance, balance transfer, or over limit fees
Credit limits from $500 to $25,000
1st time Auto buyer Max Loan Amount and Max Term Offered
Loan amount up to $30,000
Terms up to 60 months
1st time Auto buyer Loan Qualifications
Membership must be in good standing
Must be at least 18
Minimum Down payment of 10%
Payment not to exceed 20% of monthly gross income
Minimum 12 months employment with present employer
No previous automobile credit
Share Secured Credit Card is best for?
Best for people who: Looking to build or rebuild credit
MC Inspire Credit Card is best for?
Best for people who: Have decent - good credit that carry a balance
MC School Employee Credit Card is best for?
Best for: School Employees
MC Rewards Credit Card is best for?
Best For: People who pay off their balances
