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The Verdict: The OnPoint Platinum Visa card comes in two versions: a standard credit card and a rewards card. Both cards feature no annual fee, no transaction fees for balance transfers and cash advances and low APRs. The rewards card, however, earns points for every purchase that can be redeemed for travel or merchandise. With the potential for a low APR and no transaction fees, both cards make a good choice for cardholders who want to transfer balances from a high interest card or use their card to carry a balance or earn rewards.
Overview: OnPoint Credit Union offers two versions of their Platinum Visa card to members. The regular version of the card features a low APR, no annual fee and no hidden fee. The Rewards version, on the other hand, allows cardholders to earn points on every purchase that can be redeemed for merchandise, travel and more. Both cards are a good choice for consumers and keep costs low while offering a number of benefits.
How These Cards Work: The OnPoint Platinum Visa card is accepted worldwide and gives cardholders a 25 day grace period to pay their balance in full and avoid interest charges. An introductory rate is offered on both balance transfers and purchases, allowing cardholders to save money by transferring balances from high interest credit cards. A penalty APR of 17.9% may be applied to the balance if the monthly payment is more than 60 days late or there is more than one late payment in a 12 month period. Points earned with the Rewards version of the card may be redeemed through CURewards for a range of merchandise, travel rewards and more.
Travel & Shopping Benefits: Both versions of the card feature the same shopping and travel benefits. 24 hour support is available for cardholders and emergency cash and card replacement is available as well. $500,000 in travel accident insurance is automatic if airline tickets are purchased with the card and auto rental insurance is also included. Cardholders have no liability for fraudulent charges. The Rewards version of the Platinum Visa, however, earns one point for every $1 spent.
Fees: Both versions of the card have no annual fee and no transaction fees for balance transfers and cash advances. The penalty APR of 17.9% applies to both cards if triggered by a payment made more than 60 days late or more than one late payment in a year. Late payment fees are on a scale: the fee is $25 for balances less than $1,000, $20 for balances less than $100-$1,000 and $10 for balances below $100. The returned payment fee is a flat $25. Both cards have a 6-month introductory APR of 3.99% for purchases and a 12-month introductory APR of 6.99% for balance transfers. After this period the APR for purchases will be 8.9% – 17.9% for the Rewards card and 7.9% – 16.9% for the regular Platinum card. For balance transfers and cash advances, the APR for the Rewards card will be 10.9% – 17.9% and 9.9% – 16.9% for the Platinum card. A 2% transaction fee applies to foreign transactions with both versions of the card.
- No annual fee
- No transaction fees for balance transfers and cash advances
- 6-month introductory APR for purchases
- 12-month introductory APR for balance transfers
- Rewards version earns points
- Travel insurance and auto rental insurance
- Must be a member of OnPoint Community Credit Union to apply
- APR may be as high as 17.9%