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The Verdict: The Wright-Patt Platinum card is designed to be a transparent credit card for members that have only basic credit card needs. This Platinum card costs nothing to carry and has no fees for balance transfers or cash advances. The card is best for individuals who do not use their credit card frequently as there are no rewards.
Overview: The Wright-Patt Credit Union is centered in Southwest Ohio and extends membership to certain groups of employees, along with civilian and military members of the Wright-Patterson Air Force Base. Along with their many financial products, the credit union offers members a Platinum credit card that boasts a very low interest rate and no hidden fees. Overall, the card is a good choice for cardholders who carry a balance each month or make occasional large purchases.
How These Cards Work: This credit card is available as a Visa or Mastercard with a rate as low as 6.25%. Because the variable interest rate is tied to Prime, the APR for balances may vary during each billing cycle during the year. Online access is available to cardholders through the Wright-Patt Credit Union website, allowing members to check their balance, make balance transfers and transfer funds between accounts. There is a 25-day grace period that allows the cardholder to avoid interest charges by paying balances in full before the due date each month. Members of WPCU may apply for the card online, over the phone or at any branch location.
Travel & Shopping Benefits: To protect against fraudulent charges and identity theft, the card comes with either Verified by Visa or Mastercard Secure Code. Other basic credit card benefits are included as well, such as travel insurance, emergency assistance, 24 hour support and auto rental insurance. Because this card is designed as a basic credit card option, travel and shopping benefits are limited.
Fees: There is no annual fee for the Wright-Patt card, and no fees for balance transfers and cash advances. The APR for the Platinum card is as low as 6.25%, which is the Variable Prime rate plus 3.0%. The penalty APR for this credit card is 18.00%. There is a foreign transaction fee of 1% for transactions that do require a currency conversion and 0.80% for those that do not. The returned payment fee is up to $25 and the late payment fee is up to $20. There is no over limit fee.
Pros:
- No annual fee
- APR as low as 6.25%
- Choice between Visa and Mastercard
- Travel insurance
- No fees for balance transfers and cash advances
Cons:
- Must be a member of the Wright-Patt Credit Union to apply
- No rewards program
- APR may be up to 18.00%
- Limited shopping and travel benefits
