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The Verdict: The Virginia Credit Union’s Visa Platinum card has a few benefits that cardholders can appreciate. Visa discounts and fraud protection are included, and the card has a very easy to understand rate structure. There are no hidden fees at all. Still, the card does have a high APR up to 19.99% with no rewards. This credit card is best only for individuals who qualify for the 8.99% APR that want to transfer a balance, or those who keep a credit card for emergencies or pay their balance in full.
Overview: Members of the Virginia Credit Union have their choice of two credit cards offered by the institution. The Gold Rebate card may appeal to some members, while others may prefer the benefits of the Visa Platinum card. This card has no annual fee, fees for balance transfers or other hidden costs associated with it. Cardholders can also receive exclusive Visa discounts at certain retailers like Dell. Overall, this card is meant as a basic credit card with easy to understand terms and a reasonable APR for purchases.
How These Cards Work: The Visa Platinum card is accepted worldwide and has a 25-day grace period on purchases. To avoid interest charges, cardholders can pay off their balance in full before the due date each month. For cash advances and balance transfers, however, interest is charged immediately on the transaction date. This card comes with Verified by Visa fraud protection, which allows cardholders to select their own password to use while shopping online to prevent fraudulent charges. Cardholders may access their credit card account online to view balances, make payments and print statements.
Travel & Shopping Benefits: Unlike the Gold Rebate card offered by Virginia Credit Union, this card has no rewards system in place. Cardholders do receive standard Visa benefits, however, including discounts and special offers from dozens of retailers like Dell. Travel insurance is also included, as well as excellent fraud protection through Verified by Visa.
Fees: The Visa Platinum card from Virginia Credit Union has no annual fee or penalty APR. The APR for this card is anywhere between 8.99% and 19.99%, depending on the credit worthiness of the applicant. There is no minimum interest charge for this card, and no fees for balance transfers, cash advances or foreign transactions. While there is no over limit fee, late payments may result in a fee up to $35. Returned payments may incur a fee of up to $25.
- No annual fee
- No fees for balance transfers and cash advances
- Discounts at specific retailers
- APR as low as 8.99%
- Must be a member of VACU to apply
- APR may be as high as 19.99%
- No rewards