If you’re like millions of Americans, your credit card got a pretty good work out in December purchasing gifts, decorations and supplies for the holidays. Unfortunately, high balances coupled with high interest rates is the recipe for debt. Additionally, folks making just the minimum credit card payment each month watch in horror as their balances increase drastically.
O Bee Credit Union offers a helping hand with services such as a balance transfer. Through this process, your previous balances from other financial institutions are paid off by O Bee, and the new balance is transferred to a low-interest O Bee credit card. One of the benefits of a balance transfer with O Bee is that interest rates offered here are much lower than other financial intuitions.
Dave Echtle, O Bee’s Chief Lending Officer, believes most people are not properly informed about rates, payments and fees when they open accounts at retail stores and other financial institutions. “Consumers often see a ‘teaser rate,’ which typically expires after 6 -12 months. Most people don’t see the fine print and continue to pay the minimum payment until it jumps up to as much as 20% interest,” says Echtle.
The solution? Consider taking advantage of our limited-time offer to “Dump Your Debt” and transfer your high-interest balances to O Bee. With O Bee you’ll get a low introductory rate which gives you several months to pay down your debt at a manageable rate. When the rate changes after 18 months, you'll still receive one of the lowest rates in the country. At O Bee, we keep your financial well-being top of mind.