To help the Chester County Community learn more about how much interest rates affect the total amount paid when paying down debt, Benchmark FCU is introducing the Credit Card Challenge! Follow the steps below to access our Credit Card Payoff Calculator to see how much you can save by transferring high-interest balances to a Benchmark VISA Platinum Credit Card and be eligible to receive a $50 cash bonus**. Are you up for the challenge?
It’s as easy as 1, 2, 3…
- Tap the link above to access our Credit Card Payoff Calculator and enter your current balance, monthly payment amount, and current interest rate to learn how long it will take to pay off your current debt, as well as how much you’ll pay in interest.
- Next, see how much you’d save with Benchmark’s VISA Platinum rate as low as 8.9%*. But first, multiply your monthly payment by 12 and subtract that number from your balance. Why? Because Benchmark’s VISA Platinum Credit Card features 0% APR* for 12 months!
- Apply and be approved for a new Benchmark VISA Platinum then transfer high-interest balances from other institutions and within 60 days receive a $50 cash bonus** deposited into your Benchmark account.
Take a look at the comparison chart below using the average credit card rate in America as of 2/7/2023 and Benchmark’s VISA Platinum Credit Card fixed rate as low as 8.90% APR.* In this example, the consumer was able to pay their balance down to $4,400 during the 12-month 0%* interest period, only paying $274 in interest over the next 16 months while paying off the remainder of their debt. This is compared to paying $3,393 in interest over 38 months without transferring the balance to Benchmark. Click here to learn more or to apply for your Benchmark VISA Platinum Credit Card and begin saving today!
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*APR = Annual Percentage Rate. Rate subject to change & based on an individual’s credit history. 0% APR is valid for purchases & balance transfers from other institutions for 365 days from card opening. The 0% rate will be in effect for up to 12 months from card opening & after 12 months the rate on all unpaid balances will convert to the current rate member qualifies for their card program. 0% APR promotional rate is only valid on new VISA® Platinum Cards & subject to expire without prior notice.
**Bonuses paid will generate a 1099 INT at year end.
***High-interest credit card information gathered from lendingtree.com as of January 20, 2023, and subject to change. Credit cards offered by other institutions may have different rates and terms.