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The Verdict: The Space Coast Platinum Visa card is a good choice for members of the credit union that want a simple card with no annual fee. The card carries basic travel benefits like car rental insurance and offers discounts at many retailers. This card is ideal for individuals who make a lot of credit purchases and always pay off their balance in full due to the rewards earned. The high APR of 17.99%, however, makes this card a bad choice for individuals who tend to carry a balance.
Overview: The Platinum Visa card from Space Coast Credit Union has many advantages for members of the credit union. It is designed as a straightforward card with basic travel benefits, rewards points and no annual fee. Because this card is free to carry, many cardholders may save money by using it to earn rewards and paying off their balance in full. The credit union offers automatic rate decreases if the cardholder’s credit improves, and promises no surprise rate increases.
How These Cards Work: The Platinum Visa card from Space Coast Credit Union is accepted worldwide and carries a 25 day grace period on purchases. To avoid interest charges, cardholders can pay off purchases in full during this time. The grace period applies only to purchases, not cash advances or balance transfers which begin to accrue interest on the transaction date. This card features ScoreCard rewards, which may be redeemed through the ScoreCard system for merchandise and travel. One point is earned for every $1 spent. In addition to this, the Space Coast Credit Union promises no surprise rate hikes to cardholders and automatic reductions in rates if the cardholder’s credit improves.
Travel & Shopping Benefits: This Platinum Visa card offers basic shopping and travel benefits to cardholders. Members can use their Visa card at many national retailers to receive discounts. Fraud protection is included and there is no liability for any unauthorized transactions. One point is earned for every $1 spent with the Platinum Visa card and these points may be redeemed for merchandise and travel online through the ScoreCard system. Rewards start at 2,000 points.
Fees: The Platinum Visa card has no annual fee or penalty APR. There is an introductory APR of 5.99% for six billing cycles, which applies to balance transfers, cash advances and purchases. After this period the standard APR of 17.99% applies to everything. The minimum interest charge, if incurred, is $0.50. A foreign transaction fee of 1.00% for foreign currency transactions outside of the United States and 0.80% for U.S. dollar transactions out of the country. Late payment and returned payment fees may be up to $30. There is a 25 day grace period for purchases and interest is charged on cash advances and balance transfers beginning on the transaction date.
- No annual fee or penalty APR
- Introductory APR of 5.99% for six months
- No hidden fees
- No fees for cash advances and balance transfers
- Earn one point for every $1 spent
- Must be a member of the Space Coast Credit Union to apply
- APR is 17.99%, regardless of credit rating