Redstone Federal Credit Union Visa Platinum Credit Card Review | CreditShout

Redstone Federal Credit Union Visa Platinum Credit Card Review

By Dan Rafter / November 21, 2011

THIS PAGE MAY CONTAIN AFFILIATE LINKS. MEANING WE RECEIVE COMMISSIONS FOR PURCHASES MADE THROUGH THOSE LINKS, AT NO COST TO YOU. PLEASE READ OUR DISCLOSURE FOR MORE INFO.

Credit Shout may collect a share of sales or other compensation from the links on this page.

The Verdict: Members of Tennessee’s Redstone Federal Credit Union can apply for the Redstone Federal Credit Union Platinum Visa. And those members who are looking for a standard, non-rewards card should consider the possibility. That’s because this credit card comes with a low purchase interest rate, one that makes this the ideal card for consumers who regularly carry a balance each month on their credit cards.

Overview: Most credit cards offered by credit unions have one big selling point: They come with low purchase interest rates. The Redstone Federal Credit Union Platinum Visa card is no exception. This card comes with a purchase interest rate — depending on the strength of your credit — that is far below the rates offered by mainstream consumer credit cards.

How This Card Works: Because this is not a rewards card, don’t expect any cash back or rewards points when you use the Redstone Federal Credit Union Visa Platinum Card to make purchases.

Travel & Shopping Benefits: The main benefit with this card is its low purchase interest rate. This allows you to carry a balance from month to month with this card without seeing your debt rise as quickly as it would with a traditional consumer credit card that comes with higher interest rates.

Fees: The Redstone Federal Credit Union Platinum Visa card comes with a purchase interest rate of just 8 percent. That’s a lower rate than you’ll find with most traditional credit cards. The card charges no annual fee. Its late-payment and over-the-limit fees can hit $35. The card’s returned-payment fee can also reach as high as $35.

Pros

  • No annual fee.
  • Low purchase interest rate.

Cons

  • Must be member of Redstone Federal Credit Union to apply for this card.
  • No rewards program.
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone. Additionally, the opinions of the commenters are not necessarily the opinions of this site

Leave a comment:


shares