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The Verdict: If you live or work in one of the California communities of Alameda, Contra Costa, Marin, Napa, Sacramento, San Francisco, San Mateo, Santa Clara, Solano or Sonoma, consider yourself lucky. This means that you can join the Patelco Credit Union. And if you’re a member, you can apply for the Patelco Visa Platinum credit card. This card is certainly a worthy addition to your collection. It comes with a solid cash-back rewards program and, depending on your credit, an enticingly low purchase interest rate.
Overview: Credit cards associated with credit unions are known for their low fees and interest rates. The Patelco Visa Platinum card is no exception. Where this card sets itself apart, though, is with its cash-back program. This is one of the few credit union cards that offers both a solid rewards program and low purchase interest rates.
How This Card Works: You’ll receive cash back every time you use your card to make a purchase. The card comes with a credit limit of as high as $25,000.
Travel & Shopping Benefits: You’ll earn 1 percent cash back on all qualifying purchases you make with this card. Your total yearly rebate will be calculated each year on Nov. 15, and then paid as a deposit into your tiered savings account with Patelco Credit Union.
Fees: The Patelco Visa Platinum credit card comes with a purchase interest rate that ranges from 8.15 percent to 12.15 percent depending on the strength of your credit. The card comes with no annual fee. Cash advances cost $2.50 or 2.5 percent of each transaction, whichever fee is larger. The card’s late-payment fee is $15 if payment is 15 or more days late. The card comes with no over-the-credit-limit or returned-payment fees.
- No annual fee.
- Low purchase interest rate.
- Cash-back bonus program.
- Must be member of Patelco Credit Union to apply for this card.