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The Verdict: The Visa Gold card is a good choice for many members of BFSFCU. This credit card is intended as a starter card and works very well as a backup card for emergencies. It has a full range of travel benefits, no annual fee and a very reasonable APR, particularly for members that don’t have a long credit history. There is also a very low introductory APR for one year and no fees for balance transfers, making this card very appealing.
Overview: The BFSFCU Visa Gold card is designed as an entry-level credit card. The card has a minimum credit limit of $1,000 and includes many travel and shopping benefits, such as emergency assistance, travel accident insurance and auto rental insurance. The card has no annual fee and a reasonable APR, making it a good choice for credit union members who have limited credit history or want a second card on-hand in case of emergency.
How These Cards Work: This credit card is accepted worldwide through the Visa network and gives cardholders 24-hour access to cash through ATMs. It comes with a 25-day grace period on all purchases, which allows the cardholder to avoid any interest charges by paying their balance in full before this time period ends. Interest charges begin immediately for balance transfers and cash advances. A penalty APR may be applied to the account after a late payment. This APR is Prime plus 7.0% and it will apply to the outstanding balance until six consecutive on-time payments are received, at which point it will be reduced to the current rate for non-delinquent accounts.
Travel & Shopping Benefits: Although it is a basic credit card, the Visa Gold includes a full range of travel and shopping benefits for cardholders. Travel and emergency assistance is included, along with lost luggage reimbursement of $1,250. Travel accident insurance up to $500,000 for the cardholder is provided, along with baggage delay insurance up to $300. Personal identity theft protection is given to cardholders up to $15,000, as well as auto rental collision damage waiver. There is no liability for fraudulent purchases and cardholders may choose to enroll in Verified by Visa. This program allows the cardholder to select a password for online use to confirm identity.
Fees: There is no annual fee for the Visa Gold card. The variable APR for this card is currently 7.25%, although it will remain Prime plus 4.0%. There is an introductory APR of 3.9% on purchases, balance transfers and cash advances for the first 12 months. Late payments and returned payments are subject to a $25 fee. There is no over limit fee. Foreign transactions are subject to a 1.0% fee.
- No annual fee
- Great starter card for members
- Low APR, currently 7.25%
- 12 month introductory APR
- No hidden fees
- Must be a BFSFCU member to apply
- No rewards