The Classic Visa credit card from FirstMerit Bank is the most basic credit card offered by FirstMerit. This is one of three personal credit cards offered by this bank.
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A classic credit card is a credit card that generally is available to people with less than perfect credit and often includes a low interest rate for people with great credit. Usually, a classic credit card is a card that’s good for everyone; however, it doesn’t provide many perks.
FirstMerit Bank Classic Visa Credit Card Overview
The Classic Visa, unlike any of the other credit cards offered by FirstMerit, cannot be used on the MasterCard Marketplace website to save money. In addition, this card does not offer the extended warranty program that other MasterCard’s offer.
The upside to this low interest credit card is that it easier to get than other credit cards. If you have bumpy credit, but have reestablished some of your good credit in recent months, it is possible for you to qualify for this credit card.
This credit card does offer auto rental coverage, if you pay for your rental with this credit card. In addition, you can also get travel accident insurance for the amount of $100,000, if you use this credit card to pay for your travel expenses.
FirstMerit Bank Classic Visa Credit Card Terms and Considerations
This credit card allows you to choose between a variable interest rate and a fixed interest rate. With either option you begin with a 3.99% credit card introductory APR that lasts for six months and applies to both purchases and balance transfers.
The terms you should consider include:
- The APR for the variable rate, which is based on the prime rate is 11.74% to 17.74%
- The APR for the fixed rate is 14.9% to 18.9%
- The APR for cash advances as well as balance transfers is 19.15% to 23.15%
- There is no credit card penalty rate
- There is a $2 balance transfer fee
- There is a $10 cash advance and cash equivalent fee (this means if you tip your server at a restaurant, there’s a cash advance fee for this)
- 3% foreign transaction fee
FirstMerit Bank Classic Visa Credit Card Verdict
If you have less than perfect credit or even if you have good credit, this credit card can offer a great benefit. The starting interest rate is okay, however, you should consider choosing the variable-rate cards as the prime rate hasn’t changed since the 1980s.
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