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The Verdict: The Coastal Infinity Visa card is a middle of the road credit card that has some advantages and disadvantages for cardholders. While the card has no annual fee or transaction fee for balance transfers and cash advances, it also has a high APR up to 16.99% and a penalty APR of 18.00%. This card does offer rewards to cardholders for every purchase and is only recommended for cardholders that do not carry a balance or incur interest charges at all.
Overview: Coastal Federal Credit Union offers the Infinity Visa card to members which is designed to be free of hidden costs while offering rewards for every purchase. This card has no annual fee and a fixed interest rate that applies to purchases, balance transfers and cash advances. Although the card has an interest rate as high as 16.99%, the lack of transaction fees and rewards can make up for this to cardholders that do not carry a balance.
How These Cards Work: The Infinity Visa is accepted worldwide. Cardholders can avoid interest charges by paying their balances in full before the due date each month, which is at least 25 days after the closing of each billing cycle. A penalty APR of 18.00% may be applied to the balance on the card if a payment is returned or late. This penalty APR may be reduced for the existing balance after six on-time payments are received but may apply indefinitely to new transactions. One point is earned for every $1 while using the Infinity Visa and these points may be redeemed through ScoreCard for merchandise and more.
Travel & Shopping Benefits: This card features standard shopping and travel benefits, such as travel accident insurance that’s included automatically if tickets are purchased with the card. Fraud protection is included, along with 24 hour cardholder services and emergency assistance. Through ScoreCard, cardholders earn rewards that can be redeemed for merchandise and travel.
Fees: The Infinity Visa has no annual fee. The fixed APR for balance transfers, cash advances and purchases is between 11.99% to 16.99%, depending on credit worthiness. A penalty APR of 18.00% may be applied if a late payment happens or a returned payment. A 0.80% to 1.00% foreign transaction fee applies for transactions in U.S. currency. The late payment and returned payment fees are up to $25. There are other fees that apply to this credit card as well, including a $35 fee for card replacement and rush payments. A $15 document copy fee and $5 statement copy fee may apply.
- No annual fee
- Rewards points for every purchase
- No transaction fees for balance transfers and cash advances
- Must be a member of Coastal Federal Credit Union to apply
- APR may be as high as 16.99%
- Penalty APR of 18.00% that may be hard to reduce