You may not know it, but SCU (Steinbach Credit Union) credit cards are available to all Canadians except for residents of Quebec. Steinbach issues the Mastercard version of Collabria credit cards.

The SCU Classic Mastercard is SCU’s low interest offering. Here’s a rundown of the key details, plus a comparison to other low interest credit cards.

Pros of the SCU Classic Mastercard

Here's what the SCU Classic Mastercard has going for it.

1. Low interest rates

The biggest draw to this credit card is the low interest rate, which is substantially less than the typical 20% or higher charged by most credit cards:

• Purchases: 13.99%
• Cash Advances: 13.99%
• Balance Transfers: 13.99%

2. No annual fee

Unlike many low interest credit card offerings, this card has no annual fee. You can enjoy saving on interest and pay off your balance faster without shelling out that extra cash.

Cons of the SCU Classic Mastercard

Here's what we don't like about the SCU Classic Mastercard.

1. No rewards on purchases

LIke most low interest credit cards, the SCU Classic Mastercard doesn't offer any rewards on purchases. This card was designed to save money on interest, not to earn you rewards for future purchases.

2. No balance transfer offer

Many low interest credit cards come with an introductory balance transfer that offers immediate relief if you’re carrying a balance on another credit card. But not here – this card doesn’t have a balance transfer offer of any kind.

Comparison to the MBNA True Line Mastercard

There are quite a few low interest credit cards out there. Here's the comparison to one of the best: the MBNA True Line Mastercard.

The MBNA True Line Mastercard has 2 things going for it over the SCU Classic Mastercard: a terrific balance transfer offer and a lower ongoing purchase interest rate.

The only real advantage to the SCU Classic Mastercard is the cash advance and balance transfer rate. For most people, the MBNA True Line Mastercard will be better unless.

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FAQ

What is SCU?

SCU, also known as Steinbach Credit Union, is a Manitoba-based credit union. But SCU credit cards are available to residents of all provinces and territories except Quebec.

What does the SCU Classic Mastercard offer?

The SCU Classic Mastercard is a low interest credit card and offers an interest rate of 13.99% on purchases, cash advances, and balance transfers.

What is the annual fee of the SCU Classic Mastercard?

The SCU Classic Mastercard has no annual fee.