Like many people, my credit card got quite a work out during the holiday season. From presents, to eating out, to ingredients for holiday recipes, to decorations, my card got swiped right and left. As the balance grew, I kept thinking about the interest I was going to have to pay on all those purchases and wondered what I could do to lower the impact to my checking account.

That’s where Verity can help with our credit card balance transfer promotion. Between now and February 28, anyone who transfers their credit card balance to a Verity credit card can take advantage of a couple incentives.

  • Cash back:  Transfer $2,500 – $4,999 and receive $50; transfer $5,000 or more and receive $100.
  • Choose your rate: 2.99% Annual Percentage Rate* for the first 12 billing cycles OR 5.99% Annual Percentage Rate* for the life of the balance transferred.

Plus, Verity doesn’t have balance transfer fees! The promotion is for new or existing credit card accounts — the transferred balance just needs to come from a non-Verity credit card.

So how does this promotion help you with your holiday credit card debt? For example, let’s say you spent $1,000 over the holidays on your credit card with a 16% Annual Percentage Rate. If you paid $50 each month towards that bill, it would take you 24 months to pay it off, with about $171 in interest charges.

But, if you transfer that balance to a Verity credit card, you have the ability to choose a lower rate! Using the same example as above, if you choose 5.99% APR for the life of the transferred balance ($1,000), and make $50 payments each month, you would pay off the balance two months earlier (22 months) and pay about $56 in interest charges, saving you about $115 in interest (plus two fewer monthly payments)! If you choose the option for 2.99% Annual Percentage Rate for the first 12 billing cycles, you could up your monthly payments to $100, which would allow you to pay off the $1,000 balance in 11 months and pay only $13.95 in interest.

 

Plus, if you’re transferring a larger balance (maybe you’re still paying off your summer vacation as well), you can earn cash back!

Interested in learning more? Visit veritycu.com/creditcard.

*Introductory 2.99% Annual Percentage Rate (APR) is for the first 12 billing cycles. Your APR will be determined with Verity’s loan policy and your credit profile. Cash back is limited to balance transfer only. To be eligible for the balance transfer promotion, new card applications and balance transfer requests must be received by February 28, 2017. Existing cardholders must request the balance transfer by February 28, 2017 to be eligible for the promotion.

Kira Cox

Hi, I’m Kira. I joined Verity in early 2012 after a seven-year stint as a newspaper reporter. While I never thought my career path would veer off in this direction, I am loving my time at Verity. I recently moved from being a member services representative at the Alderwood Branch to being the marketing coordinator for the credit union.

I’m originally from Texas, but I have lived all over the country and the world, including Boston, Massachusetts, Anchorage, Alaska and Sydney, Australia. But in all my travels, the Pacific Northwest is the only place that has felt like home.

When not at work, I am usually home with playing with my son, husband, dog and three cats. During the rare times I don’t have a to-do list to plow through (and it’s not raining too hard), I can be found digging in the vegetable garden, training for a half-marathon, or grilling in the backyard.

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