Grow Financial Visa Platinum for Students Credit Card Review | CreditShout

Grow Financial Visa Platinum for Students Credit Card Review

By Christine Layton / November 6, 2011


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The Verdict: The Grow Financial card for students is an excellent choice to establish and build credit. Unlike secured credit cards, this Visa Platinum card has no annual fee or fees for balance transfers and cash advances. The card also comes with a low APR, 0% introductory rate and rewards for every purchase. With the good grade rewards and pay on time rewards as well, this card is a good choice for students that want to build a good credit history without paying for high-interest, high-fee cards.

Overview: The Grow Financial Federal Credit Union offers an excellent Visa Platinum card for students that is designed to build a credit history while rewarding students. Cardholders earn rewards points with every purchase and other rewards for good grades and on-time payments. The card features a low APR, no annual fee and no fees for cash advances and balance transfers as well. With its 0% APR for 6 months as well, this card is ideal for students just starting out that want a credit card that will reward them for good credit use.

How These Cards Work: This Visa Platinum card has a 25 day grace period on purchases which allows the cardholder to avoid any interest on purchases by paying in full during this period. The 0% introductory APR applies to balance transfers and purchases for the first six billing periods. After this time, an APR of 13.90% is in effect. This card earns one point for every $1 spent through the ScoreCard Rewards system, which allows the cardholder to redeem points for merchandise or travel.

Travel & Shopping Benefits: Unlike traditional shopping and travel rewards given by most credit cards, the Visa Platinum card from Grow Financial rewards students for good credit use and school achievements. This card does offer three unique bonuses, however: a good grades reward, an on time payments reward and a graduation bonus. The graduation reward of $100 is a one-time bonus given to the cardholder upon proof of graduation if the account has been open for six months or more. The on time payments bonus, however, reduces the APR of the card by 1.00% after 12 consecutive months of on-time payments. The good grades reward is a tiered bonus that rewards students for achieving certain GPA’s. A 4.00 GPA will earn 500 rewards points, a 3.50 to 3.99 GPA will earn 350 points and a GPA of 3.00 to 3.49 will earn 250 points. The card does, in addition, earn 1 point for every dollar spent that can be redeemed for merchandise and travel through the ScoreCard system.

Fees: The Visa Platinum card has no annual fee or fees for balance transfers and cash advances. Purchases and balance transfers receive an introductory APR of 0% for six billing periods, after which the APR is 13.90%. The APR for cash advances is always 18.00%. The penalty APR for the card is 18.00%, which may be applied to the entire balance if there is a late payment. This penalty APR will last for six months, after which the APR may be reduced by on-time payments. Foreign transactions are subject to a 1% transaction fee. The returned payment and over the limit fee may be up to $25, while the late payment fee may be up to $35. Statement copy fees are $1 per page, while emergency card replacement costs $20. A card reissue costs $5, a photo card fee is $5.95, the photocopy fee is $5 and a convenience check stop payment fee is $20.


  • No annual fee
  • Rewards points for every purchase
  • No fees for balance transfers and cash advances
  • Low APR of 13.90%
  • Rewards for good academics and credit behavior
  • Penalty APR lasts for only six months
  • Six month introductory rate of 0%


  • Must be a Grow Financial member to apply
  • Fees for many services like emergency card replacement
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone. Additionally, the opinions of the commenters are not necessarily the opinions of this site

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