#BANKBLACK CREDIT CARDS
Depositing money with black-owned banks is a great start, but there is more to the equation. Banks make their money primarily through lending, including credit cards. Even without carrying a balance month to month, banks still earn money from fees from the merchants who accept credit cards. So opening a credit card account with a black bank is a great way to support the #BankBlack movement just with your everyday spending. It can also be a great way to build your credit.
Credit cards at the major banks can range anywhere from 10 to 25 percent interest. Black-owned banks offer credit card account with interest rates as low as 7.75%. Why pay Bank of America or Wells Fargo 18% when you could be paying 8% or 10%? Many offer low or no fees and rewards points programs.
We recommend that you take advantage of one of the free credit monitoring sites like CreditKarma or MyBankrate to know your credit score and better manage your credit.
See our list of recommended credit card options below.
FOR PERSONAL USE
Liberty Bank Visa Card ($30 annual fee)
FOR BUSINESS USE
FOR ESTABLISHING OR REPAIRING CREDIT