The Verdict: The Visa Platinum credit card is one of the premium cards offered by the San Antonio Credit Union and offers credit limits of $5,000 and up. This card does not have a rewards system but has no annual fee and a very low APR on purchases, balance transfers and cash advances. There are over 4,000 credit union locations cardholders can use and this credit card represents a very good offering for members that want a straightforward card with no frills.
Overview: SACU has three separate credit cards for members: the Classic, Gold and Platinum. The Visa Platinum card is available for members with excellent credit ratings and has the lowest interest rate of 7.90% for balance transfers and 8.90% for purchases and cash advances. This card is a good choice for SACU members in the San Antonio area as there are many banking locations and the institution is a member of CU Service Centers, allowing members to bank at over 4,000 partner locations.
How These Cards Work: Like all credit cards from SACU, the Visa Platinum is accepted worldwide and has a generous 25-day grace period on purchases. To avoid interest charges, cardholders can pay off purchases completely within this time period. Members may bank at any San Antonio Credit Union location around San Antonio or Houston, along with thousands of partner credit union locations for convenience. During the first six months, cardholders can enjoy a discount introductory APR on purchases and cash advances of 5.90%, which increases to 8.90%. Balance transfers, on the other hand, are always subject to a 7.90%. This card also has a full range of travel benefits to cardholders, including increased insurance and assistance.
Travel & Shopping Benefits: The Visa Platinum card from SACU has all of the benefits of the Visa Gold, including excellent fraud protection and $150,000 of travel accident insurance for the cardholder and immediate family members. Cardholders can also take advantage of emergency ticket replacement, medical assistance, pre-trip assistance and other emergency help on the road. One of the greatest travel benefits is the auto rental insurance, which allows cardholders to waive optional insurance while renting and still receive coverage. The warranty manager service for Visa Platinum members is also beneficial for major purchases.
Fees: Like other cards offered by SACU, the Visa Platinum card has no annual fee and no penalty APR if payments are delinquent 60 days or more. There are also no charges for balance transfers or cash advances, unlike the typical 1-4% charged by most banks. The Visa Platinum offers an introductory APR to cardholders for the first six billing periods on both purchases and cash advances, which increases to the standard 8.90%. Balance transfers are subject to a 7.90% APR. In addition to this there are many extra fees charged by the credit union, such as the late or returned payment fee of $25 and a due date change fee of $15. Other fees include a card replacement fee of $3, a lettercheck return fee of $4.50, a rush fee of $25 and document and statement copy fees of $2. Foreign transactions are subject to a 1.00% fee.
Pros:
- No annual fee or penalty APR for delinquencies
- Thousands of branches to use
- 6-month introductory APR
- APR of 7.90% to 8.90%
- Travel and shopping benefits
Cons:
- No rewards system
- Fees for many services like replacement cards and statement copies
