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The Verdict: The Visa Platinum credit card from Hudson Valley Federal Credit Union is a solid card with no fees for balance transfers and a single, variable APR for purchases, balance transfers and cash advances. The card has a range of benefits and is a good choice for individuals who tend to carry a balance.
Overview: Hudson Valley Federal Credit Union offers three credit cards to members, all of which feature low interest rates and a credit limit up to $20,000. The Visa Platinum card is the no-frills option with no-fee balance transfers, no annual fee and other benefits.
How This Card Works: The Visa Platinum credit card is accepted worldwide and has a 25-day grace period on purchases. As long as the balance is paid off in full within this 25-day period, no interest will be charged. Cardholders can perform an unlimited number of balance transfers with no fee while enjoying a simple rate that’s tied to purchases, cash advances and balance transfers. The Visa Platinum card comes with a range of travel and shopping benefits as well that protect the cardholder during travel from medical accidents, rental car damage and more.
Travel & Shopping Benefits: The Visa Platinum card from Hudson Valley Federal Credit Union has a number of travel benefits, beginning with $500,000 travel accident insurance that covers the cardholder, spouse and children automatically. Auto rental collision insurance is automatically added when a vehicle is rented with the Visa car and serves as secondary coverage when the rental car’s collision coverage is waived. Other benefits include extended warranties and service agreements, personal travel agent assistance, replacement of medical devices and corrective lenses, emergency ticket replacement and more.
Fees: There is no annual fee for the Visa Platinum card, and no penalty APR. The APR is the same for purchases, balance transfers and cash advances. No fees are charged for balance transfers. There are also no transaction fees with the card aside frm the 1% foreign transaction fee charged by Visa. The Platinum card currently has an APR as low as 11.25% while the other two credit cards have a variable APR as low as 12.25%.
- No annual fee
- Simple rate structure
- Comprehensive travel and shopping benefits
- Low interest rates
- Credit limit up to $20,000
- Must be a member of the Hudson Valley Federal Credit Union to apply
- No rewards program for the Visa Platinum card