WINSTON-SALEM, N.C. (11/6/09)--Piedmont Advantage CU is offering a credit card with a 6.9% fixed rate and without annual fees. The credit union has opened nearly 700 Visa accounts and approved $3 million in balance-transfer requests. Most credit union members who are transferring balances are trying to find a financial partner to understand their circumstances and help them, the credit union said. “One member is dealing with cancer and had to charge some surgeries on her credit card accounts,” said Judy Tharp, Piedmont Advantage president/CEO. “Not only was she having to deal with being sick, she had to worry about making ends meet with a 15% variable card.” Most people who transfer their balances to Piedmont have good credit histories, but have seen their interest rates skyrocket as their card providers try to turn a profit during the recession, Piedmont said. “Our members have shown a lot of enthusiasm for this new product,” Tharp said. “It’s very simple to understand--no tricks, no gimmicks, no gotcha fees.” Piedmont said it researched other cards and could not find a lower rate. The average annual percentage rate on a credit card is around 9.5%, according to Bankrate. “Many lower-interest cards are hard to get now since credit is so tight,” Tharp said. “And others come with fees that don’t make them a very good deal.” Piedmont Advantage CU has $238 million in assets.