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Verdict: Those consumers looking for a standard credit card with a low purchase interest rate might find one in the Platinum Edition Visa Card from First National Bank of Omaha. Depending on cardholders’ credit, this card can come with a purchase interest rate under 10 percent. It also offers an introductory 0 percent interest rate on both new purchases and balance transfers. However, those consumers with weaker credit scores might be saddled with purchase interest rates as high as 17.99 percent.
Overview: This is a standard, no-frills credit card. That means there is no rewards or cash-back program. This is also why the card can offer such low purchase interest rates; cards without rewards programs generally come with lower purchase interest rates.
How This Card Works: Your purchase interest rate will remain in place unless you make a late payment, go over your credit limit or send in a payment that needs to be returned. Do any of this, and you might be assessed a penalty interest rate of 29.99 percent.
Travel and Shopping Benefits: As a standard card, the Platinum Edition Visa Card from First National Bank of Omaha doesn’t come with any rewards, miles or cash-back programs. Its biggest selling point remains the low purchase interest rates that good-credit consumers can receive. It also boasts no annual fee, another plus for consumers looking to own credit cards without having to pay heavily for them. The card also comes with an introductory interest rate of 0 percent on all new purchases for the first six months after consumers open their accounts. Consumers will also receive an introductory interest rate of 0 percent on all balance transfers for the first 12 months after opening their accounts.
Fees: If your credit score is high enough, the purchase interest rate attached to this card can be as low as 9.99 percent. If your credit is marred by several blemishes, though, your purchase interest rate can run as high as 17.99 percent. Other fees are typical of the industry: Cash advances cost $15 or 5 percent of the advance amount, whichever is higher. Late-payment and returned-payment fees each can run up to $35. There is no annual fee with this card.
- Interest rate below 10 percent for good-credit cardholders.
- No annual fee.
- 0 percent introductory interest rate offers on both purchases and balance transfers.
- Penalty interest rate near 30 percent.
- No rewards program.
- Interest rate can be 17.99 percent for those with bad credit.