Credit Card Rate Change FAQs

After carefully reviewing our credit card products, we have decided to simplify and consolidate our offerings. We believe this change will allow us to continue offering you competitive rates, reflecting the current market conditions.
Your rate will be determined using the 6-month Treasury Bill plus a margin based on your credit score. So if the 6-month Treasury Bill is currently priced at 7% and your margin is 3%, your rate will be 10% APR.
Rates will be assessed monthly based on the current 6-month Treasury Bill. Whenever a rate increases, the card balance at the time of the rate change is protected at the previous rate. Any new transactions and balances would then be charged at the new rate. Any new purchases made after the next cycle date will be charged the new rate.
The new rate will go into effect for all purchases, cash advances, or balance transfers made on or after the effective date on your notice.
You can see your current interest rate either on the last page of your credit card statements or in First Service Digital Banking using the following steps:
  1. Log in to Digital Banking at FSCU.com or in the mobile app.
  2. On the Accounts screen, select your credit card.
  3. Click the circle with the letter i in the top right corner.
  4. Your rate will be displayed along with your account name, number, limit, and other account details.
For FSCU Visa credit cards and lines of credit, the rate can be as low as 9.99% APR and as high as 17.99% APR.  For Secured cards, the rate can be as low as 6.99% APR and as high as 14.99% APR.
All outstanding balances that you currently maintain will be locked into the rate you currently have. Only new purchases, cash advances, or balance transfers on or after the effective date will be applied to your new rate.
Once the promotional balance transfer rate expires, the rate will go to the rate that was in effect when the balance transfer was initiated. For example, if the purchase rate was 12% at the time the balance transfer was initiated, any balance remaining would be at 12% APR when the promo 0% rate expires.
Payments on Credit Cards will be re-calculated at the end of each month.
Payments on Lines of Credit will be re-calculated at the time of advance.
You can make a credit card payment in First Service Digital Banking using the following steps:
  1. Log in to Digital Banking at FSCU.com or in the mobile app.
  2. Go to Loans in the menu, and then select “Pay My Loan” under “Manage My Loans.”
  3. Under Between My Accounts, select whether you are paying from an account at FSCU or another financial institution.
  4. Select the account you will be transferring from, the loan you will be transferring to, the amount, and when you’d like the payment to be sent.
If you do not make the minimum payment by that month’s due date, you will have a grace period of 10 days before a late fee of $25 is assessed.
No, First Service only pulled soft inquiries for this, so your credit score would not be impacted.
No, your credit limit is not being changed. You can request a credit limit change by calling us at 713-676-7777 and selecting option 3.
No, your card number will remain the same, so you can continue using your card(s) as you always have.
No, your existing card will continue to work.
You may opt out of the rate change by visiting a branch or giving us a call during business hours (7:30 AM – 6:30 PM CDT) at 800-822-4328 before the effective date. If you do, you will no longer be able to use your credit card to make purchases, cash advances, or balance transfers. The existing rate will apply to any remaining balance. You will still need to make monthly payments until the balance is paid off.
If you would like to opt out of these changes, you must let us know in a branch or give us a call during business hours (7:30 AM – 6:30 PM CDT) at 800-822-4328 before the effective date. After we receive your opt-out notification, you will no longer be able to use your credit card to make purchases, cash advances, or balance transfers. You will be obligated to pay your outstanding balance under the terms of your current loan agreement.
Yes, if you make a purchase or use your card after the effective date, you will automatically be opted in to the new rate for those new transactions.