Overview: The Police and Fire Federal Credit Union offers a Platinum Rewards card to members that features a rate as low as 9.15% with no annual fee. The card includes basic travel and shopping benefits, along with a rewards system that earns the cardholder points on every purchase. Overall, this credit card may appeal to consumers that want a free to carry credit card with a simple fee structure.
How These Cards Work: The Platinum Visa card is accepted worldwide and includes 0% fraud liability for cardholders. This card has a 25 day grace period. No finance charges will be applied if the balance is paid in full by the due date of the current billing statement. The penalty APR of 18.00% for this credit card may be applied if a payment is received more than 61 days past due. The penalty APR will remain in effect for balances and future transactions until six consecutive on-time monthly payments are received. After this period the penalty APR will end and the standard APR will once again take effect.
Travel & Shopping Benefits: The PFFCU Platinum Rewards Visa includes basic travel and shopping benefits for cardholders. Discounts at select retailers are available through Visa, as well as warranty extensions for purchases. Travel accident insurance and zero liability fraud protection are automatic. This credit card earns the cardholder one point for every $1 spent, which may be redeemed through ScoreCard for merchandise and travel.
Fees: There is no annual fee for the PFFCU Platinum Rewards card. The variable APR of 9.15% to 18.00% is determined based on credit worthiness. This APR applies to purchases, cash advances and balance transfers. There is a penalty APR for this credit card of 18.00%, which may be applied to the account if a payment is received more than 61 days past due. There is a 0.80% transaction fee for foreign purchases that do not require a currency conversion and 1.0% for transactions that do involve a currency conversion. The late payment fee is 5% of the payment due with a maximum fee of $15. The returned payment fee is $10. The statement and document fee is $3 per copy, if available online. Archived documents cost $30 for the first box and $5 for each additional box of records.
Pros:
- No annual fee
- No fee for balance transfers or cash advances
- No hidden costs
- Basic travel benefits and discounts
- One reward point for every $1 spent
Cons:
- Must be a PFFCU member to apply
- APR as high as 18.00%
The Verdict:
The PFFCU Platinum Rewards Visa has many benefits. There is no annual fee, no fee for balance transfers and a rate as low as 9.15%. This card also offers rewards points on every purchase. Although this card does carry an APR as high as 18.00%, it may be a good choice for credit union members that want a credit card with no hidden fees and no cost to carry. This card can also appeal to individuals who frequently use balance transfers or cash advances as there is no fee and the same purchase APR applies.
