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| Student VISA Credit Cards |
| Establish good credit from the beginning. |
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| About Our Student VISA Program |
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The goal of our student VISA program is not to promote spending but rather to provide knowledge and an opportunity for our young members to learn about money management and maintaining good credit. Our program is designed for members 16 and 17 years of age, and begins with an educational seminar at our Holly Education Center located on E Holly St in Bellingham. Students are required to attend the seminar and we strongly encourage legal guardians or parent(s) to attend.
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The Student Visa seminar cover many topics from the definition of credit to, credit scores, how loans work, money management skills, the benefit of a VISA card, and what to do if your card is lost or stolen. Upon successful completion of the Student VISA Seminar and either a completed application with proof of income or parent/legal guardian as co-borrower, student members will be issued a $250 Student Visa. This card is good until age 21. However, if the loan is in good standing at the age of 18, students can apply for a $500 Classic Visa by filling out a new application with proof of income or parent/legal guardian as co-borrower.
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| Highlights of a WECU Student VISA |
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1% cashback reward on purchases
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No annual fee
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Low annual percentage rate (APR) of 12.9% APR fixed
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Low monthly payments
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Travel accident insurance of $250,000 when you purchase travel tickets with your VISA
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Local service you can trust
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| Credit Disclosure |
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INTEREST RATES AND INTEREST CHARGES
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Annual Percentage Rate for Purchases & Balance Transfers
Classic: 12.9%
Platinum: 9.5%
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Annual Percentage Rate for Cash Advances
Classic and Platinum: 12.9%
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How to Avoid Paying Interest on Purchases
Your due date is 25 days after the close of each billing cycle. We will not charge any interest on the portion of the purchases balance that you pay by the due date each month.
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For Credit Card Tips from the Federal Reserve Board
To learn more about factors to consider when applying for or using a credit card, visit the website of the Federal Reserve Board at http://www.federalreserve.gov/creditcard.
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FEES
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Annual Fee: None
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Transaction Fees:
Penalty Fees:
- Late Payment Fee - 5% of the minimum monthly payment or $15.99, whichever is greater.
- NSF/Return Check Fee - $5.00
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Other Fees:
- Foreign Transaction Fee - Up to 1% of the US dollar amount of the foreign transaction.
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How we will calculate your balance: We used method called "average daily balance" (including new purchases).
We reserve the right to amend the Visa Credit Card Agreement as permitted by law. The above rates and fees are current as of February 20, 2010.
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| Payment Protection: |
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With Payment Protection, you'll find comfort in knowing that an emotional tragedy doesn't have to become a financial one. Disability protection makes your monthly loan payment should you become disabled due to a covered illness or injury. Life protection reduces or pays off your eligible loan balance should you die before paying off your loan.
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Automatic eligibility for most borrowers.
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No medical screening.
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Premium included in your loan payment.
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Low group rates that are the same for every borrower.
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Protection of your loan collateral and credit rating.
For more information about Payment Protection, click here.
Price varies depending on selected protection and loan type.
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| How to Apply |
| We generally offer our Student VISA Seminar once per quarter during the school year. We post our classes on our website about a month in advance. If you would like to be notified when our next Student VISA class is available, let us know and we'll add you to our contact list. |
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