Balance transfer with Union Plus Credit Card!

Balance transfer credit cards

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Union Plus Credit Card

Intro APR: 8.99%

Issuer: HSBC Bank Nevada, N.A

Attention Union Members! You're eligible for the exclusive Union Plus® Credit Card - the only card endorsed by your union. Click here to apply today, and join the 3 million members who carry the Union Plus Credit Card.

Card Benefits

NO ANNUAL FEE
Some cards give you one year free, then charge $20 or more!

COMPETITIVE INTEREST RATES
The Union Plus Credit Card offers competitive interest rates on purchases and Balance Transfers. Please note: if you received an invitation to apply by mail or email, you can find the Terms and Conditions in that invitation.

BALANCE TRANSFERS
Transfer your higher rate balances immediately upon approval.

SKIP PAYMENT PRIVILEGES
You can skip up to two monthly payments each year with no penalty or harm to your credit rating.

STRIKE PAYMENT PROTECTION
When your union is on a union-sanctioned strike or lockout for 30 days or more, you may skip your payment for up to 3 consecutive months. The Union Plus Credit Card is the only credit card that offers you Strike Payment Protection.

LOSS PROTECTION
The Union Plus Credit Card absorbs ALL unauthorized charges.

100% FRAUD PROTECTION
If your Account shows any unusual activity, we'll contact you immediately to protect you against possible fraud.

24-HOUR CUSTOMER CARE
Contact Customer Care online or call a Customer Care Representative, no matter what time of day.

UNION MEMBER ADVOCACY
Created by Union Privilege, this program helps you resolve disputes and handle concerns regarding any of the Union Privilege programs.

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Equity is defined as the difference between the appraised property value and the mortgage amount. Firstly, remember any business activity always involves risk, no matter what the source of funding. It is not complicated to fully understand how a loan on a personal property can create capital for business.

Finance For Small Businesses

Home-equity loans being secured, and based on the collateral of home equity, are a lot easier to get approved for than unsecured loans. Home equity loans also feature lower interest rates than unsecured business loans. Due to these advantages, home equity loans are highly attractive for small business’ owners in need of financing.

In case your residence has equity of about 20% and 80% mortgage loan outstanding on it, this strategy must never ever be considered. New and first-time buyers having just put 10 to 20% down payment and borrowed the balance should never make a deal with a second lender to close a loan package allowing cashing out the 10 to 20% equity in exchange for 100% refinance. This puts your entire equity into business, leaving nothing for the house. Any economic crisis in the business or falling behind in your ability to pay your monthly mortgage payments can result in the second lender foreclosing very quickly, depriving you of your equity and home forever.

Know Your Standing Prior To Applying

In case you happen to be a long-time homeowner with over 50% of home value as equity, due to the loan outstanding being less than half the market value of your house you can figure out if borrowing from your home is capable of providing capital for your business. Follow these steps:

Find out a fair market appraisal on your house.

Keep in mind the exact outstanding balances on all mortgages including first, second, home equity line and other liens combined.

Subtracting the total debt from the appraised valuation you will obtain your equity.

Dividing equity by the appraisal indicates your equity percentage. It can work if it’s over 50%.

The lender will quote rate and monthly principal and interest for borrowing equity. Some may require interest-only payments with the loan balance outstanding not getting paid down over time. Be clear about the funds to use in your business, like monthly revenues after borrowing the money to put into your business.

Estimate gross profit margin on monthly sales, subtracting your fixed monthly selling and administrative expenses. Your targeted monthly operating income can now be on a pre-tax basis.

Plug in your minimum monthly payment to the lender handling your home equity funding deal. Your monthly payment will be made from your pre-tax operating income in the business.

Beware of Taxation

Consult your tax advisor on the best way to draw these funds every month. The most common suggestion is to pay yourself just enough of a gross salary or bonus for your take-home share to equal the monthly loan payment.

Another payment option is to loan the business and have it repay you every month, minus wages and payroll taxes, using the receipt each month to pay your equity loan. The interest for your firm could equal the rate on your home equity loan and interest paid, made tax-deductible to your business also.

Servicing the loan from your business operations can last months. Growing sales and operating income should be followed by increasing payments to you every month to accelerate the retirement of the principal.

Transfer your balance to Union Plus Credit Card
'Good credit' can be a subjective term. Does someone have good credit as long as they do not have bad credit? If their FICO score is at the national average? Above the national average? Do they have good credit as long as they have prime-level cards? As long as they don't have 'negative remarks' on their reports -- even though their FICO scores may be low? What if those 'negative remarks' are only a few '30+ days' late payments? Do they only have good credit if their FICO scores are in the top 20%? As you can see, there are many definitions that can define good credit, depending on how you choose to look at it. Let's take a closer look at the benefits of 'good' credit.
There are many great benefits afforded to you when a lender decides that you have 'good' credit. These benefits include:
A low interest rate. At least below 10%, but likely around 5% with really nice credit scores.
Rewards when you spend money on the card. You can choose which cards you want by which rewards they offer. Rewards will vary by company, but the most popular are cash back rewards and travel rewards. Reward points often range from 1% to 3% of money spent on the card.
High credit limits. The better your credit is, the higher the credit limits you will receive. $25,000+ on one card is not unheard of for people who have a great reputation with prime-level banks.

Just because you don't have good credit, does not mean that you cannot get credit. You may still get some pretty decent offers, but they may not be from prime-level banks. Banks that knowingly take extra risks to finance people who have below-average credit also charge a higher interest rate and additional fees to help offset that risk. This way they still make money even though they deal with many more defaulted accounts than prime banks do.

Although the fees are necessary to keep these banks in business, so that they can continue to give second chances, there are some things you can do to lessen your costs. The two best ways are to pay your card in full each month -- or at least pay as much as you can on the balance -- so that you are charged little to no interest and call to see if you can get the annual fee waived after you have been a model customer for a year. They may be willing to waive the fee in order to keep your business. These cards will be your stepping stone to better credit offers from prime-level banks.

If you don't have good credit, but want to enjoy the benefits associated with a high credit score, you can improve your credit all by yourself in your spare time. It may seem overwhelming at first but, by taking baby steps and working on one problem at a time, you can have a good credit profile before you know it.

Raise your credit score with a help of Credit-Rocket! Read the Chase credit card reviews

Tired of high charges? Find the best database for credit cards! Read the fine print and find the Annual Percentage Rate (APR). This is the interest rate the companies charge you if you carry a balance. You want the lowest rate possible; as each percentage point drop will save you money on the months you have an outstanding balance.