Many creditors choose MasterCard as their card of choice when it comes to providing bad credit credit cards. That, however, is not the case with the Central Florida Educators FCU MasterCard Platinum credit card. This is a low interest credit card designed for people with very good to perfect credit.
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The good news is that while you cannot have bad credit to qualify for this card, if you have some past bumps on your credit, you can still qualify. Of course, there are several other criteria that you will have to meet. You can read about what CFE Federal Credit Union might be looking for at the Federal Reserve website.
Central Florida Educators FCU MasterCard Platinum Overview
The CFE MasterCard Platinum is the MasterCard with the lowest interest rate available from CFE. Part of the reason that the rates are kept so low is that the criteria for getting this card is a little stricter than the criteria for some of the other CFE MasterCard option. In addition, this is not a rewards card and rewards cards tend to have higher interest rates.
This card is available only to members of the CFEFCU. Members must work for the school system in the State of Florida in order to qualify. The exception to this is that any family members of a Florida educator can also join the CFE Federal Credit Union. Educators include bus drivers, school administrators, support staff, maintenance staff and more.
Central Florida Educators FCU MasterCard Platinum Terms
The terms for this card are quite simple and include:
- 8.75% to 17.75% variable interest rate based on your credit score – applies to purchases, balance transfers and cash advances
- No ATM fee
- No annual fee
- No cash advance fee
- No balance transfer fee
- No over the credit limit fee
- 17.75% penalty APR
- Late payment fee based on total credit card balance
Central Florida Educators FCU MasterCard Platinum Verdict
A low interest rate credit card is an excellent choice for those of you who plan to carry a monthly balance on your credit card. In addition, the lack of fees makes it an excellent choice for people who plan on making balance transfers or using their credit card to get cash.
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