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The Verdict: The Northwest Visa Platinum card offers a number of benefits to cardholders. There is no annual fee and no cost for balance transfers and cash advances. It also features a generous credit limit and an APR as low as 7.0%. Still, this credit card has no rewards and the APR may be as high as 18.00% for members who do not have excellent credit. In general, this card is best for individuals who don’t carry a balance and want a simple credit card to finance large purchases or transfer a balance from a higher rate card.
Overview: Northwest Federal Credit Union offers three credit cards to members: the Visa Platinum card, the First Card Visa Platinum card and the Member Rewards Mastercard. The Platinum card has no rewards, although it does offer a generous spending limit with an APR as low as 7.00%. This credit card can appeal to many consumers, especially those who want a free to carry card for emergencies.
How These Cards Work: The Visa Platinum card is accepted worldwide. Cardholders have access to ATMs across the world with a PIN for cash advances. There is a 25-day grace period on purchases, which allows the cardholder to avoid all interest charges by paying their balance in full before this time period. The Visa Platinum card has a number of fraud protections in place, including Verified by Visa. This program allows the cardholder to select a password to use for online shopping, which provides identity verification.
Travel & Shopping Benefits: This card includes purchase security protection, which covers purchases against theft or damage. Travel benefits are also provided, including accident insurance up to $500,000 and auto rental insurance. Fraud protection and zero liability are included, along with emergency assistance like cash disbursement and card replacement.
Fees: There is no annual fee for the Visa Platinum card. The variable APR is between 7.00% and 18.00%, depending on credit worthiness. The same APR applies to purchases, balance transfers and cash advances. There is no penalty APR or minimum interest charge for the card. There is also no transaction fee for balance transfers or cash advances, although a 0.80% to 1% transaction fee may apply. There is no over limit fee. The fee for late payments and returned payments is up to $35.
- No annual fee
- APR as low as 7.0%
- No fee for balance transfers and cash advances
- Must be a Northwest member to apply
- APR as high as 18.0%
- No rewards
- Limited benefits for travel and shopping