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Verdict: The Visa credit card from First Community offers a huge range of options for members. There are three separate versions of this credit card and one has an optional rewards program. The interest rate is as low as 7.90% and the card has no fees at all for balance transfers and cash advances. Fees are also very low for this card with penalty fees capped at $10. Overall, this card is a great choice for members who want a card that costs nothing to carry and offers an easy way to finance purchases.
Overview: First Community Credit Union has a range of credit cards for members, including three versions of their popular Visa card. The Visa Classic, Gold and Platinum all offer different benefits to cardholders and are designed to meet different needs. The Classic card is designed for individuals who pay off their balance each month as it has a 15.90% APR. The Gold card, on the other hand, has a low 8.90% interest rate and upgraded travel accident insurance. Lastly, the Platinum card comes with a rate of 7.90% and has an optional rewards program. All three cards feature low fees and reasonable fixed rates.
How These Cards Work: All three versions of the First Community Visa card feature zero liability for fraudulent purchases and fraud protection. Verified by Visa is available, which allows the cardholder to select their own password to use during online shopping to verify identity. This credit card is accepted worldwide so cardholders have access to cash advances using a PIN. This card also has a 25-day grace period for purchases only, which allows the cardholders to pay their balance in full to avoid interest charges. Balance transfers and cash advances begin to accrue interest beginning on the transaction date. There are three separate versions of this credit card: the Classic, Gold and Platinum, which has an optional rewards program. Qualifying for each depends on credit history. The optional rewards program for the Platinum card adds a $19 annual fee to the card and gives the cardholder access to exclusive benefits like concierge service, $1,000,000 in travel accident insurance, and one point earned for every $1 spent.
Travel & Shopping Benefits: This credit card features only basic travel benefits for cardholders. The Classic version of the card includes $250,000 in travel insurance, which is increased to $400,000 for the Gold and $500,000 for the Platinum. With the Platinum Preferred, which comes with the rewards, the travel accident insurance is increased to $1,000,000. This version of the card also includes free concierge service and rewards points that may be redeemed for travel and merchandise.
Fees: There is no annual fee for this credit card. The non-variable APR is 15.9% for the Classic card, 8.9% for the Gold card, 7.9% for the Platinum and 11.9% for the Platinum with rewards. This interest rate applies to purchases, cash advances and balance transfers. There is no penalty APR and no minimum finance charge for this credit card. There is no fee for balance transfers or cash advances, although a 1% transaction fee for foreign transactions is charged by Visa. There is no over-the-limit fee, but a fee up to $10 may be applied after a late payment or returned payment.
- No annual fee
- A non-variable rate as low as 7.9%
- No fees for balance transfers or cash advances
- Low fees
- Optional rewards
- Must be a First Community member
- Very limited travel and shopping benefits
- Rewards program is an optional $19 annually