General Questions

Why is the Credit Union changing my card?

In an effort to provide our Members access to the best products available, we’re making the switch from Visa® to Mastercard® credit cards throughout 2016. With this change, we’ll be able to continue to offer nationally competitive rates and low or no fees1, while you enjoy more benefits and enhanced features like EMV chip technology and ID Theft Protection to help keep your personal information secure.

What if I don’t want to change? Can I keep my Visa?

All SchoolsFirst FCU credit cards will be switched to Mastercard before the end of the year. But, we know that you will benefit from all the new and enhanced features with your new card.

Will I be losing any benefits that I had with my Visa card?

No. In fact, you will have access to even more enhanced benefits with your new Mastercard.

What are the new benefits that come with my Mastercard?

In addition to the benefits you currently enjoy, your new Mastercard will feature a range of new benefits including ID theft alerts and resolution services, EMV chip technology, Price Protection and Extended Warranty on qualifying purchases, travel accident and baggage delay coverage, and more. Overall, your new Mastercard will offer you more services and increased protection when it comes to your financial security.

Will my new Mastercard be accepted by most merchants and ATMs?

Yes, your new card can be used at millions of places worldwide wherever Mastercard is accepted, including restaurants, gas stations, doctors’ offices, department stores, home improvement stores, airlines, hotels, online merchants, and more!

When will I be receiving my new Mastercard?

All Members should have their new card by the end of the year. In the meantime, you can continue to use your Visa as usual. We will be sending communications throughout the conversion letting you know when you can expect to receive your new card.

I have more than one SchoolsFirst FCU credit card. Will I receive all of my new Mastercard credit cards at the same time?

No. We will be sending Members their new Mastercards by credit card types in phases. You can expect to receive your new Mastercard credit cards according to the estimated timeline below:

 

 

    • School Employee: Late May – June 2016

 

    • Inspire (formerly Classic, Gold & Platinum): July – September 2016

 

    • Rewards: October 2016

 

    • Share-Secured: October 2016

How will my new Mastercard appear in online banking and on the mobile app?

Roughly one week prior to receiving your new Mastercard credit card in the mail, it will appear in online banking. Until you receive your new card in the mail and are able to activate it:

 

    •    >> Any transactions made on your existing Visa® credit card will automatically transfer to your new Mastercard credit card account.

 

    •    >> Although a credit limit may be shown with each listed credit card account, your original credit limit is unchanged.

 

    •    >> You may pay your bill by clicking on the link for either the existing or new credit card account. Your payment will ultimately be applied to your new credit card account.

 

Once you activate your new card, your old card will become inactive and its account information will no longer appear separately in Online Banking after approximately one week.

I don’t want to wait for my new card. Can you order me one now?

Sure, we can go ahead and reissue you a new card sooner if you prefer.

How long will my current Visa card be active for once my new Mastercard credit card is issued?

Your current Visa card will be active for 45 days once your new Mastercard is issued. You will want to activate your new Mastercard as soon as you receive it.

What do I do with my Visa card once I activate my new Mastercard?

Once you activate your new Mastercard, your Visa card becomes inactive and should not be used. For your security, you should cut up/shred your Visa card before discarding it.

Will my card number change?

Yes, your new Mastercard will feature a new card number and expiration date. You will need to update any recurring payments you have with this new information.

SchoolsFirst FCU has partnered with Mastercard to offer a free new service to help you update your recurring payments. When your new Mastercard is issued, the Automatic Billing Updater service will have updated most of your recurring payments. Please check to ensure all of your recurring payments have been changed.

What should I do about charges automatically billed to my old card?

Please provide your new card number and expiration date to companies and services (like monthly subscriptions or bill pay) that automatically bill your card.

Will I have to set up a new PIN for my Mastercard?

Yes. You will need to set up your new PIN over the phone by calling 866.955.1347. Unfortunately, we cannot reset your PIN in the branch.

Will my new card have EMV chip technology?

Yes, all of our new Mastercard credit cards will have chip technology.

Will my credit limit change?

No, your credit limit will remain the same.

Will my current Visa balance be automatically transferred to my new Mastercard?

Yes, your card balance will be automatically transferred to your new Mastercard as soon as your new card is issued.

Will my interest rate change?

No, your interest rate should remain the same. However, some credit card rates may be subject to change based on any change in the prime rate as outlined in your Agreement and Disclosure Statement.

Will I still get my statement at the same time each month as I do now?

Yes, you will continue to receive your statement at the same time each month as you do now.

Do I have to register my new Mastercard for Apple Pay®?

Yes, because your new card will have a new number and expiration date, you will need to update your card information in order to use Apple Pay®.

Can I use Samsung Pay and/or Android Pay with my new Mastercard?

No, not at first. We are working to make these services available to you.

How do I sign up for ID Theft Alerts?

You can enroll for free at mastercardidtheftalerts.com

1. SchoolsFirst FCU's credit card program features a range of rates based on a variety of factors, including the applicant's credit rating. APR = Annual Percentage Rate. As of 3/20/17, Inspire credit card rates range from 9.25%-17.90% APR; School Employee credit card rates range from 8.25%-17.90% APR; and Rewards credit card rates range from 12.25%-17.90% APR. Rates are subject to change, are variable and subject to increase after account opening. Must be a current school employee to qualify for the School Employee credit card. For Share-Secured credit card: rate is currently fixed at 13.90% APR and subject to change without notice. Foreign transaction fee: 2% of the transaction in U.S. dollars for Inspire, School Employee and Share-Secured cards.

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