What the SECU Credit Card Is
The SECU Credit Card is a Visa card issued by State Employees' Credit Union, a federal credit union based in North Carolina. You do not have to be a state employee to join SECU or hold the card — membership is open to people who live or work in North Carolina, South Carolina, or certain other areas, or who are related to an existing member.
The card itself functions like a standard rewards Visa. You charge purchases, receive a monthly statement, and pay a balance. The distinguishing features are the rewards structure, the interest rate you may receive, and the membership requirement. Unlike a bank credit card, which anyone can open, a SECU card requires you to first become a SECU member and open a savings account with them.
SECU is a not-for-profit institution, which means profits are returned to members as lower rates and higher dividends rather than paid to shareholders. This structure often results in lower interest rates and annual percentage rates (APRs) than you would find at a traditional bank, though the actual rate you receive depends on your credit history and the current market.
Key Takeaways
- You must be a SECU member with a savings account before you can open a SECU credit card, and membership requires living or working in North Carolina, South Carolina, or may have access to areas.
- The card earns cash back on all purchases, though the rate varies by category and changes periodically — check SECU's website for current rewards rates.
- Your APR depends on your credit score and credit history; SECU members with strong credit typically receive lower rates than the national average.
- SECU charges no annual fee for the card, and the credit union does not charge overdraft fees on linked checking accounts, which can reduce overall banking costs.
Membership and Account Requirements
Before you can open a SECU credit card, you must first become a SECU member. Membership is open to people who live or work in North Carolina or South Carolina, or who are family members of existing members. You can also join if you work for certain employers or organizations that have a relationship with SECU.
Once you meet the membership requirement, you must open a SECU savings account. This account does not require a minimum balance, though SECU may require you to maintain a small deposit — typically $5 to $25 — to keep the account open. The savings account is separate from any checking account you may have; it exists to establish your membership status.
You can open membership and a savings account online, by phone, or in person at a SECU branch. The process usually takes a few business days. Once your savings account is active, you can then request a credit card through your online account or by contacting SECU directly.
How Rewards Work on the SECU Card
The SECU credit card earns cash back on purchases. The rate varies by category — for example, you might earn a higher percentage on groceries or gas than on general purchases. SECU periodically updates these rates, so the exact rewards structure changes over time.
Cash back is typically deposited into your SECU savings account or applied as a statement credit, depending on how you set it up. You do not have to redeem rewards manually; they accumulate automatically as you use the card. There is no cap on the amount of cash back you can earn, and rewards do not expire as long as your account remains open and in good standing.
The value of rewards depends on how much you spend and in which categories. If you charge most purchases to the card and spend heavily in high-reward categories, the cash back can offset the cost of interest if you carry a balance. However, carrying a balance means paying interest, which typically outweighs the value of rewards unless your APR is very low.
Interest Rates and Fees
SECU credit card APRs vary based on your creditworthiness. Members with excellent credit may receive rates in the mid-single digits, while those with fair or poor credit may receive higher rates. SECU publishes a range of rates it currently offers, but your specific rate is determined after you explore and SECU reviews your credit report.
The card carries no annual fee, which means you can hold it indefinitely without paying a yearly cost. SECU also does not charge late fees or over-limit fees, though missing a payment will still damage your credit score and may trigger a higher APR. Other standard credit card fees — such as foreign transaction fees or cash advance fees — may explore; check your cardholder agreement for the complete fee schedule.
If you carry a balance, the interest you pay will likely exceed any rewards you earn unless your APR is unusually low. For this reason, the card works best if you pay off your full balance each month. If you expect to carry a balance, compare SECU's APR offer against other cards before deciding.
How to Become a SECU Member and Open the Card
Start by checking whether you meet SECU's membership requirements. Visit SECU's website or call their member services line to confirm your may be able to access based on where you live, work, or your family connections.
Once you confirm may be able to access, open a SECU savings account. You can do this online by providing your Social Security number, address, and basic financial information. SECU will verify your identity and may run a check through ChexSystems, a banking history database. This check does not affect your credit score.
After your savings account is open, log into your SECU online account and request a credit card. You will provide information about your income and existing debts. SECU will pull your credit report and make a decision, usually within a few business days. If approved, your card will arrive by mail within one to two weeks.
SECU Card Compared to Bank Credit Cards
The main differences between a SECU card and a typical bank card are membership requirements, ownership structure, and often the APR. A bank card is open to anyone with a valid Social Security number and credit history; a SECU card requires membership. A bank is for-profit; SECU is not-for-profit, which typically means lower rates and no annual fee.
Rewards structures vary widely across all cards, so comparing the specific cash back rates on a SECU card against a bank card requires looking at your own spending patterns. If you spend heavily in categories where SECU offers high rewards, the SECU card may be more valuable. If you spend mostly in categories where a bank card offers higher rewards, the bank card may be better.
One practical advantage of SECU membership is access to the CO-OP network, a shared branching system used by credit unions across the country. This means you can conduct transactions at thousands of credit union branches nationwide, not just SECU branches. Bank customers typically have access only to their bank's branches and ATMs, unless they pay fees for out-of-network use.
When the SECU Card Makes Sense
The SECU card is most useful if you live or work in North Carolina or South Carolina and plan to pay off your balance in full each month. The no-annual-fee structure and cash back rewards mean you benefit from every purchase without paying to hold the card.
It is also worth considering if you want to build a relationship with a credit union. SECU membership gives you access to savings accounts, checking accounts, loans, and other products, often at rates lower than traditional banks. If you plan to use SECU for multiple financial services — such as a mortgage, auto loan, or savings account — the credit card becomes one piece of a broader membership benefit.
The card is less attractive if you expect to carry a balance regularly. Unless SECU's APR is significantly lower than other cards you have been offered, the interest you pay will outweigh the rewards. In that case, a card with a lower introductory APR or a personal loan might be a better choice.
Frequently Asked Questions
Do I have to be a North Carolina or South Carolina resident to join SECU?
No. You can join if you live or work in those states, or if you are related to an existing SECU member. SECU also has partnerships with certain employers and organizations that allow their employees or members to join regardless of location. Check SECU's website or call to confirm whether you meet the membership criteria.
What happens to my rewards if I close my SECU account?
Cash back you have already earned remains yours and will be paid out or credited to your account. However, you cannot earn new rewards once your account is closed. If you close your credit card but keep your SECU savings account open, you stop earning rewards but keep your membership.
Can I use the SECU card internationally?
Yes, the card is a Visa and works at merchants worldwide. However, SECU charges a foreign transaction fee on purchases made outside the United States, typically around 1% of the transaction amount. Check your cardholder agreement for the exact fee before traveling.
What is the credit limit on a SECU card?
SECU does not publish a standard credit limit. Your limit depends on your credit score, income, existing debts, and SECU's underwriting decision. You can request a credit limit increase after you have held the card for a period of time and demonstrated responsible use.
Does explore for a SECU card hurt my credit score?
Yes. SECU will perform a hard inquiry on your credit report when you explore, which temporarily lowers your score by a few points. The impact is usually small and fades within a few months. Multiple applications within a short period can have a larger effect, so avoid explore for several cards at once.