The Verdict: Live in California? You’re in luck. This means that you can join The Golden 1, a credit union open only to California residents. And once you’re a member of this credit union, you can apply for The Golden 1 Platinum Rewards Visa credit card. This card is a good one to have in your wallet because it comes with both a solid rewards program and a low purchase interest rate.
Overview: The Golden 1 Platinum Rewards Visa card will provide you with either a cash-back bonus on all of your purchases or the ability to lower your variable interest rate. The choice is yours.
How This Card Works: If you choose the cash-back option, your cash back will be credited to your account every month.
Travel & Shopping Benefits: You’ll receive a cash-back bonus of 1 percent of every purchase that you make with your Golden 1 Platinum Rewards Visa credit card.
Fees: Depending on your credit, the Golden 1 Platinum Rewards Visa card comes with a purchase interest rate ranging from 9.9 percent to 17 percent. If you make a late payment, make a payment that is returned or go over your credit card’s limit, though, you might suffer a penalty interest rate of 22.9 percent. Cash advances cost either $5 or 2.5 percent of the advance amount, whichever figure is higher. Late-payment fees can run as high as $15, while returned-payment fees are just $5. There is no annual fee with this card.
Pros:
- No annual fee.
- Solid rewards program.
- Low purchase interest rate depending on your credit.
Cons:
- No opportunity to earn extra cash back for specific purchases.
- Penalty interest rate soars above 22 percent.
- Must be a member of Golden 1 Credit Union to apply for this card.
