It is hard to find someone today that does not have at least one credit card. Most people do not like to carry cash around and checks are an inconvenience to carry and are not as widely accepted as they used to be, credit cards are just the more efficient choice. Members of the Commonwealth Credit Union can apply for two different personal credit cards, the Commonwealth Credit Union Visa Platinum and the Commonwealth Credit Union Visa Classic.
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For those that do not want the hassle of a rewards credit card or do not have the right type of credit history to be approved for one, the Visa Classic card is their best choice. Consumer ratings for this type of credit card can be found at sites like http://www.jdpower.com/finance/ratings/credit-cards-ratings/.
Terms of the Commonwealth Credit Union Visa Classic Credit Card
While the interest rate for balance transfers, cash advances, and purchases are higher with this credit card than with the Visa Platinum card, the range of 10.70% to 19.70% is still lower than average. If the cardholder wants to avoid paying any type of interest at all, they can pay their balance in full each month instead of making smaller payments. In fact, by paying the minimum amount due each month, the cardholder is likely to end up paying more in interest than they did for the actual purchase.
While the interest rates for this card are different from the Visa Platinum card, the fees are mostly the same. There is no annual fee or fees for balance transfers or cash advances. The only fee that is different is the late payment fee. With the Visa Classic card, the cardholder will pay either $25 or 5% of the total due on a late payment.
Additional Fees for the Commonwealth Credit Union Visa Classic Credit Card
There are additional fees for this credit card. If the cardholder needs a replacement or additional card, the fee is $5. To block a credit card, the credit union member will be charged $10.
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