CEFCU Platinum Credit Card Review

The Verdict: The Platinum card from CEFCU comes in two versions, one of which offers merchandise and travel rewards to cardholders. Both versions of this card offer a number of benefits to cardholders, including low interest rates and no annual fee. The CEFCU Platinum card is perfect for anyone who wants to transfer balances to take advantage of the low rate, as well as those who want to earn easy rewards on all purchases.

Overview: The Caltech Employees Federal Credit Union (CEFCU) offers a Platinum card to members that’s available in a rewards version as well. Both versions feature a low APR, no annual fee, range of travel benefits and no-fee balance transfers. The rewards version of the card allows cardholders to earn 1 point for every dollar spent which may be redeemed for merchandise or travel rewards. This card was designed to give members exactly what they need: a card that costs very little to use and offers straightforward benefits.

How These Cards Work: The Platinum card from CEFCU has a 25-day grace period on all purchases. This gives cardholders a generous amount of time to avoid interest charges by paying off balances in full within this time period. Members can choose between two Platinum cards: the standard card and a rewards version with a slightly higher APR. Both cards offer travel benefits and the same fee structure, although the rewards version allows cardholders to earn one point for every dollar spent. These points can be redeemed for merchandise or travel with the CURewards system. Balance transfers have no fee and allow cardholders to take advantage of low rates.

Travel & Shopping Benefits: The CEFCU Platinum card has a range of travel benefits for cardholders, including up to $200,000 in travel accident insurance and an automatic auto rental collision damage waiver program to save money on rentals by using the card’s secondary insurance. Cardholders may also choose optional credit disability insurance or credit life insurance. While using the rewards version of the card, members can earn points while shopping to redeem for travel and merchandise.

Fees: Both versions of the Platinum card from CEFCU have no annual fee or penalty APR after default. Balance transfers are also fee-free, which allows members to transfer balances from high interest rate cards to save money. For the first six billing periods all balance transfers are subject to a promotional 3.99% fixed interest rate, after which the rate increases to 9.25%. The standard APR for the rewards card is 9.50% while the regular version has an APR of 8.50%. All foreign transactions are subject to a 1.00% fee. There is a late fee of $10 for any payment that is received 10 days after it is due. NSF fees and returned payment fees are both $20. A card replacement costs $10 with a rush costing $35. A PIN replacement is $10 and a rush PIN replacement is $35. A convenience check-stop payment is $15 and the pay by phone fee is $5. Designing your own card costs $10, while statement copy fees are $5 and document copy fees are $10.


  • No annual fee or penalty APR
  • Low APR
  • Balance transfers have no fee
  • Travel benefits and extra insurance options
  • Rewards Platinum card earns one point for every dollar spent


  • There are many fees for most services offered
  • Must be a member of CEFCU to apply

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