Verdict: The BB&T Visa Platinum Credit Card offered through Coastal Federal Bank has always been a consumer-friendly credit card. Coastal Federal, though, has made the card even stronger by offering a 0 percent interest rate on balance transfers and purchases for a limited period. Combine this with a low purchase interest rate and no annual fee, and you have a reliable and inexpensive credit card.
Overview: The BB&T Visa Platinum Credit Card is also a rewards card. You’ll earn rewards points an all the charges you make with the card. You can then redeem these points for merchandise, gift cards and travel.
How This Card Works: After signing up with the BB&T Visa Platinum, you’ll immediately start earning rewards points with every purchase that you charge. You’ll also be immediately granted the 0 percent introductory rate on purchases and balance transfers. As long as you pay your balance off in full every month, you won’t be charged any interest even after the introductory offer ends.
Travel and Shopping Benefits: You’ll earn one rewards point for every dollar that you charge with your BB&T Visa Platinum card. You can earn an unlimited amount of rewards points, which you can redeem for travel, gift cards and a wide range of merchandise. You’ll also receive 1,500 bonus rewards points when you activate your new card.
Fees: The fees, which are fairly low by industry standards, contribute to this card’s consumer-friendly reputation. First, the BB&T Visa Platinum card comes with no annual fee. Secondly, it’s purchase interest rate is a reasonable 12.15 percent or 13.90 percent, depending on your creditworthiness. You won’t have to worry about this rate for six months after opening your account, though; the BB&T Visa Platinum card currently comes with a six-month introductory interest rate on both balance transfers and purchases of 0 percent.
The card does charge industry standard late-payment and over-the-credit-limit fees of $35.
Pros:
- No annual fee.
- Low purchase interest rate.
- Rewards program.
- 0 percent introductory interest rate offer on balance transfers and purchases.
Cons:
- Penalty interest rate can soar as high as 30.15 percent.
- Late-payment and over-the-limit fees of $35.
