Credit Cards
What we do
Our range of credit cards2 is designed to cater to every budget, offering options tailored to your financial needs. Whether you’re seeking rewards, low interest rates, or other benefits, we have the perfect fit for you. Additionally, the online credit card application process is both secure and user-friendly, ensuring a quick experience from start to finish.3
Statements
Manage your credit card statements with the Cardwise app. Pay your monthly bill, redeem reward points and sign up for convenient electronic statements. This ensures timely access to your financial information, helping you stay on top of your purchases and manage your credit card usage.
Benefits
UCU credit cards offer the convenience of mobile payment options such as Apple Pay®, Google Pay™, and Samsung Pay®, while also providing the opportunity to build a good credit history, leading to improved credit scores over time.1
Paying for purchases now easier
Manage your UCU Collabria Mastercard on the go or online
Download the CardWise Mobile App or use the CardWise Online Platform to view your transactions, balances, statements, and redeem rewards. Plus, pay bills and set controls, all secured by CardWise.
Credit Cards: FAQs
A credit card is a payment card issued by a financial institution that allows you to borrow funds to make purchases with an interest-free grace period if the full statement balance is paid on time by the statement due date. If the full amount is not paid, the cardholder is required to pay back the borrowed amount plus any applicable interest and fees.
When you use a credit card to make a purchase, the card issuer pays the merchant on your behalf. You then owe the card issuer the amount of the purchase, which you need to repay according to the terms of your cardholder agreement.
Credit cards offer benefits such as convenience, the ability to build a credit history,1 available rewards programs (like cashback, travel points, or discounts) based on the type of credit card product, and purchase protection available with select credit cards.
There are various types of credit cards, including rewards cards, cashback cards, travel cards, secured cards, student cards, business cards, and low-interest cards. Each credit card type caters to different needs and financial situations. UCU offers a variety of credit cards to choose from to suit your financial goals.2
Consider factors such as your spending habits, credit score, rewards preferences, annual fees, interest rates, and any special features or benefits offered by the card issuer. Compare different cards and choose the one that aligns best with your needs and financial goals.
A credit limit is the maximum amount of money you can spend (borrow) and which can be outstanding at any time on your credit card account. The credit limit is a specific amount based on factors such as your credit history, income, and debt-to-income ratio.
You can avoid paying interest by paying your statement balance in full by the due date of each statement. By doing so, you’ll typically have a grace period during which no interest is charged on new purchases.
Missing a credit card payment can result in a negative impact on your credit score, the application of increased interest charges to your credit card account, and other impacts contained in the cardholder agreement. It’s essential to make at least the minimum payment by the statement due date to avoid these consequences.
To protect yourself from credit card fraud, regularly monitor your account activity, sign up for transaction alerts, only use secure websites for online purchases, and report any suspicious activity or unauthorized charges to your card issuer immediately.
Remember to always read the terms and conditions of the credit card cardholder agreement carefully.
The minimum payment is the smallest amount you must pay toward your credit card balance by each statement due date to keep your account current and in good standing. It’s usually a percentage of your total balance or a fixed amount, whichever is greater.
You can request a credit limit increase from Collabria Financial Servies either online, through their mobile app, or by contacting their customer service. Your credit limit increase eligibility depends on factors such as your payment history, income, and credit utilization ratio.
If your credit card is lost or stolen, immediately contact the Collabria customer support team at 1.855.341.4643 to report it. They will deactivate the card and issue you a new one. It’s also crucial to monitor your account for any unauthorized transactions and dispute them promptly.
Foreign transaction fees are charges applied by credit card issuers for purchases made in a foreign currency or transactions processed outside of your home country. These fees typically range from 1% to 3% of the transaction amount and may apply to both purchases and ATM withdrawals made in a foreign currency. See your cardholder agreement for the fees applicable to your credit card account.
When it comes to insurance benefits with Collabria Financial Services credit cards, it’s important to understand that coverage varies depending on the specific card you choose. Collabria Credit Cards offer a variety of benefits and some may include insurance coverage. The insurance offered by Collabria Financial Services on a particular credit card is not optional.
01Prudent use of a credit card account can contribute towards building a positive credit history over time. A person’s credit bureau is calculated by credit reporting agencies based on many factors, one of which may be the good standing of a credit card account, including credit score calculations factors like history of timely when-due minimum payments, credit utilization, and outstanding balance. Simply opening a credit card account will not result in a positive impact on overall credit history. Applying for credit products may result in a hard credit inquiry, which may result in a lower credit score for a period of time.
02Ukrainian Credit Union Limited branded credit cards are issued and underwritten by Collabria Financial Services Inc. pursuant to a license from Mastercard International Incorporated. Credit card products require an application, credit inquiry, and are issued on approved credit. See application for full details. Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.
03Credit card applications are administered by Collabria Financial Services Inc., subject to the Terms of Use, Privacy Policy, Cookie Policy, Security Statement and other terms and conditions available at https://www.collabriacreditcards.ca/affiliate_ukrainian-credit-union/.