A credit card, when responsibly managed and used, provides an important financial tool that you can use in many situations. By keeping your balances low and staying on top of regular payments, you’ll build your credit history, improve your score, and develop a track record as a trustworthy individual worthy of additional loans. That’s the idea, anyway — you’ll need to qualify for a credit card before any of that begins!
At Resource One Credit Union, we are a not-for-profit financial institution in the Dallas and Houston areas owned by our members and operated under principles designed to deliver value, transparency, and reliability to those members. As part of the many services we provide, we offer several kinds of credit cards ideal for the daily spender and the credit builder alike.
However, to receive one of these cards, you must first be a member of Resource One Credit Union. We can only grant lines of credit to those who have open accounts with our institution. So then, you might ask, “Can I bank with Resource One?” The answer depends on a few things. Let’s review the eligibility criteria, then explore what else you should know about signing up for a credit card if you do qualify.
Who Can Become a Member?
There are several ways to qualify to be a member of Resource One Credit Union. Formed to serve our area specifically, where you live is one of the primary methods of determining eligibility for membership. All residents of Dallas county, plus those in northern Harris County, may apply to become members of R1CU. Residents living within 10 miles of our branch in Carrolton, Texas, also qualify based on their geographic location. Sorry — if you are outside of one of these zones, you may only be eligible for membership based on one of the two other criteria we use. What are those?
We’re happy to do business with several Select Employee Groups, or businesses who have a specific partnership with R1CU. If you are an employee of one of these businesses, you have the right to open an account and bank with us. Ask your boss today whether your business is a Resource One partner.
Finally, we extend memberships to family members, too. If one of your close relatives is a member today at R1CU, ask them — or us — about the process of joining. We’ll be glad to welcome you into our banking family. Once you become a member, you may remain one no matter where you live so long as your account is always in good order.
Qualifying for a Credit Card
Becoming a member is the fundamental bar to clear for qualifying for an R1CU credit card. However, membership does not automatically grant you access to a line of credit. Each applicant requires consideration based on their existing credit history, score, and finances. For example, a regular source of income is important for determining both your eligibility and your credit line. Like any financial institution, we need to see that applicants have the means to repay what they put on their cards. Your application will undergo an evaluation based on multiple factors to determine your creditworthiness; speak to one of our branch officers for further details regarding such evaluations.
What Kinds of Cards Do We Offer?
We offer three tiers of credit cards suitable for those just starting out and those who want maximum purchasing power. These cards include:
- R1 Visa® Secured Platinum Card: Secure your line of credit with a deposit and trust that you will never need to worry about spending more than you can afford on your line.
- R1 Visa Platinum Card: An unsecured line with greater potential, more benefits, and enhanced security features.
- R1 Rewards Visa Signature: Love to earn credit card rewards? Get 1.5% back on every single purchase you make, large or small, with no category restrictions. Enjoy quarterly rewards and get back some of that cash you spend.
The Benefits of R1CU Cards
Protecting our members and providing valuable services is at the core of what we do. To that end, we’ve built a range of benefits into our credit cards so you can enjoy safe shopping, peace of mind, and convenience wherever you choose to swipe. What advantages do we provide?
- VISA Purchase Protection. Enjoy longer warranty protection and repairs if damaged or stolen.
- No Fraud Liability. Worried about identity theft? Don’t be — if someone steals your card, you won’t be on the hook for the damages.
- Car rental insurance waivers. Instead of paying extra for insurance at the rental desk, know that your card provides a secondary damage waiver for most typically rented vehicles.
- Travel accident insurance of up to $1,000,000 if you make your travel purchases on the card itself.
- Return protection for when a store policy won’t cover you. Return products purchased with your card instead to VISA within 90 days for reimbursements of up to $250/item. Maximum $1,000 in protection per year.
- No fees just to have the card. We never charge you annually for holding a line of credit with R1CU!
Start the Process with Friendly Help Today
With many clear benefits, and plenty of reasons to open a credit card to improve your history, now is as good a time as any to take the first steps towards acquiring an R1CU line of credit. That first step? Becoming a member, of course. Find out more about the benefits of being an R1CU member today or start the process online. Have questions or concerns you’d like to address first? Visit one of our open branch locations, give us a call, or contact us online for prompt and friendly help becoming a brand new member of Resource One Credit Union today. We look forward to hearing from you soon.