Only one has an annual fee. Six of the banks' best bets carry annual fees and eight feature variable rates. The reason credit unions can offer better value is because they are nonprofit institutions owned by their members. Banks are owned by stockholders who want solid returns on their investments. And while large issuers spend big bucks blanketing millions with expensive mailings, sales calls and Internet pitches, credit unions market their cards to members only.
Credit unions hang back longer.
We tend to be lower to begin with and the rates aren't adjusted as much. They also are more flexible when customers don't live up to their card terms. We tend to approach it very humanistically. Rather than hiking a rate, we will try to work it out. But folks who pay off balances and use their cards to get air miles and cash-back bonuses are probably better off with banks.