Don't use your credit card - Use the Credit Union - Naas Credit Union

Don’t use your credit card – Use the Credit Union

Hello October! The autumn leaves are falling and the darker evenings are fast approaching. The rule of thumb is normally to wait until after Halloween before mentioning the “C” word but for those enthusiasts who want to get the shopping in early, you might want to think again before using that shiny and oh-so-appealing plastic...

By Amanda Coffey | October 5, 2017

Hello October! The autumn leaves are falling and the darker evenings are fast approaching. The rule of thumb is normally to wait until after Halloween before mentioning the “C” word but for those enthusiasts who want to get the shopping in early, you might want to think again before using that shiny and oh-so-appealing plastic card.

 

According to the latest statistics released by the Bank of Ireland, almost 1.5 million people in Ireland are actively using their credit cards. Half of those credit card users are only repaying the minimum amount each month. With some of the rates the credit card companies charge, it would take up to 20 years to pay off the credit card debt if only making minimum repayments. 20 years! And you could end up paying back thousands more than the balance on your card!

 

So check your credit card statement. Most statements have a box that tells you when you will make your final payment if you continue to just pay the minimum payment each month. Trust us, it’s scary!

 

Never fear though the CU is here We’ve listed below an example of how long a credit card bill would take to pay off making the minimum monthly payment vs a loan from us. So, if you’ve already used your credit card, you can switch your loan to us and pay it off years earlier, or if you don’t have a credit card and need some extra money for the festive season, our rates are generally much lower than your credit card, and we offer flexible payment options too!

 

Credit Card vs Credit Union

 

 

 

 

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CAR LOAN

Own your car straight away - no balloon payments, no mileage restrictions!

Calculator is based on our current lending rates and is only intended as an indication of payments. Lending is subject to a credit assessment. Terms & Conditions Apply

CAR LOAN
Loan amount € 1,000 APR* = 8.57%
  • Loan Amount € 1000
  • Monthly Repayment €---
  • Loan Term 1 Years
  • Total Repayments €---
  • Total Cost of Credit 1 Years

*APR = Annual Percentage Rate

HOME LOAN

Make your house the home you've always wanted, with our low cost Home Improvement loan

Calculator is based on our current lending rates and is only intended as an indication of payments. Lending is subject to a credit assessment. Terms & Conditions Apply

HOME LOAN
Loan amount € 1,000 APR* = 8.57%
  • Loan Amount € 1000
  • Monthly Repayment €---
  • Loan Term 1 Years
  • Total Repayments €---
  • Total Cost of Credit 1 Years

*APR = Annual Percentage Rate

PERSONAL LOAN

A loan for the things that matter most to you - now that's personal!

Calculator is based on our current lending rates and is only intended as an indication of payments. Lending is subject to a credit assessment. Terms & Conditions Apply

PERSONAL LOAN
Loan amount € 1,000 APR* = 9.93%
  • Loan Amount € 1000
  • Monthly Repayment €---
  • Loan Term 1 Years
  • Total Repayments €---
  • Total Cost of Credit 1 Years

*APR = Annual Percentage Rate

SWITCHER LOAN

Move multiple loans to us for one more manageable monthly payment

Calculator is based on our current lending rates and is only intended as an indication of payments. Lending is subject to a credit assessment. Terms & Conditions Apply

SWITCHER LOAN
Loan amount € 1,000 APR* = 8.57%
  • Loan Amount € 1000
  • Monthly Repayment €---
  • Loan Term 1 Years
  • Total Repayments €---
  • Total Cost of Credit 1 Years

*APR = Annual Percentage Rate

SECURED LOAN

Up to 60% loan to value, with payment term up to 20 years

Calculator is based on our current lending rates and is only intended as an indication of payments. Lending is subject to a credit assessment. Terms & Conditions Apply

SECURED LOAN
Loan amount € 1,000 APR* = 5.91%
  • Loan Amount € 1000
  • Monthly Repayment €---
  • Loan Term 1 Years
  • Total Repayments €---
  • Total Cost of Credit 1 Years

*APR = Annual Percentage Rate

STUDENT LOAN

Let us take the stress out of college with a low rate Student loan.

Calculator is based on our current lending rates and is only intended as an indication of payments. Lending is subject to a credit assessment. Terms & Conditions Apply

STUDENT LOAN
Loan amount € 1,000 APR* = 7.77%
  • Loan Amount € 1000
  • Monthly Repayment €---
  • Loan Term 1 Years
  • Total Repayments €---
  • Total Cost of Credit 1 Years

*APR = Annual Percentage Rate

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