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Verdict: BCU offers an impressive range of choices with their Visa Platinum card. The regular version of this credit card features a non-variable rate as low as 8.5%, no annual fee and travel benefits. The other two versions add a rewards program for no additional cost. The cash back version of the card is the only one with a variable rate but it allows the cardholder to earn up to 2% cash back on purchases. Overall, this credit card is a great option for most consumers who want to be rewarded for spending or want a card that is free to carry and has no hidden fees. Because the APR may be very high for those with poor credit, however, this card is not a good choice for those who carry a balance month to month.
Overview: The Visa Platinum card from BCU has three distinct versions: the Platinum, Platinum with CURewards and Platinum with Cash Back. All three are designed with specific cardholder needs in mind and offer a range of benefits. Two of the cards feature rewards in the form of points or cash back, while the Platinum card offers the lowest rate. All three versions of the card come with no annual fee, no-fee balance transfers and travel benefits. Because of the competitive rates and range of options, the BCU Visa Platinum card is a good choice for many consumers.
How These Cards Work: This credit card has built-in fraud protection and zero liability for fraudulent purchases. There are three versions of the BCU Visa Platinum: the Platinum, Platinum with CURewards and Platinum with Cash Back. The regular version of the card features the lowest interest rate, while the other two cards earn rewards on every purchase. The CURewards card earns one point for every $1 spent, while the cash back card earns up to 2% cash back on every purchase. With the cash back credit card, 2% cash back is earned on restaurant, grocery store and gasoline purchases and 1% cash back on everything else. The cash rebate is automatically credited to the cardholder’s savings account on a quarterly basis. Cardholders have access to their account online through the BCU website, where they may check balances, make transfers and even check rewards earned.
Travel & Shopping Benefits: All three versions of the BCU Platinum card feature the same travel benefits. Auto rental collision damage waiver is included, which allows the cardholder to waive optional insurance options while purchasing a rental vehicle while still receiving coverage through Visa. Travel and emergency assistance is also provided, which includes referrals, emergency cash disbursement and card replacement. Cardholders also receive a free annual spending summary and zero-liability protection. The two rewards cards earn the cardholder either points or cash back for every purchase.
Fees: There is no annual fee for any version of the credit card. The APR for purchases and cash advances with the Platinum card is a non-variable 8.50% to 18.90%, depending on credit history. For the CURewards card, the non-variable rate is between 10.50% and 19.90%. For the Cash Back card, the APR is a variable 10.25% to 20.00%. For balance transfers, all versions of the card include an introductory rate between 6.90% and 8.90% for 540 days. After this period the APR is the same as for purchases. The cash advance fee is $5 or 3%, with a maximum fee of $50. Foreign transactions are subject to a 3% fee. The penalty fee for late payments, returned payments and over the limit is up to $25. The statement copy fee is $2, while a rush fee is $20 for second business day and $30 for next business day.
- No annual fee
- Choice between 3 different cards
- Travel benefits
- Non-variable rate as low as 8.50%
- Intro rate on balance transfers for 540 days
- Must be a BCU member
- APR may be up to 20.00%
- High fee for cash advances