The Kinecta Federal Credit Union Visa Platinum credit card is Kinecta’s high credit line credit card for people with very good to perfect credit. In order to apply for this credit card, you have to be a member of the Kinecta FCU. To become a member, you simply need to live in the Los Angeles area.
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In addition to living in Los Angeles, if you attend school, work, or worship in LA, or you’re a family member of a current Kinecta member, then you can also be a member of the Kinecta Federal Union. Kinecta claims to have members that live all around the country.
Kinecta Federal Credit Union Visa Platinum Credit Card Overview
While you do have the option of adding the rewards program to this credit card for $25 a year, the focus of this card is the additional benefits that it offers.
For example, it offers $1,000,000 in travel accident insurance if you have an accident while traveling, but you must pay for this travel credit card.
In line with your travel coverage, the Kinecta FCU Visa Platinum card offers $3,000 in lost luggage reimbursement. This applies to lost luggage due to an airline error, as well as the theft of your luggage while you’re traveling.
Another service offered by this credit card company is called the warranty manager service. With this service, Kinecta FCU doubles the warranty of any merchandise purchase you make using your Visa credit card. The only restriction for the service is that the original warranty cannot be longer than three years.
There are many other benefits associated with this credit card including roadside service, purchase security, Visa zero liability, and travel/emergency services. In most cases, you have to use your credit card to purchase items or services in order to qualify for these protections, with the exception of the roadside dispatch service.
Kinecta Federal Credit Union Visa Platinum Credit Card Terms
What’s surprising about this credit card is that, despite the fact that you have to have better credit to apply for this card, its interest rate isn’t as low as many rates offered by other credit unions to people with excellent credit. The variable APR for this credit card is 9.99% to 18%, which is based on the Prime rate.
This APR applies to everything you do with your card, including cash advances. If you miss two consecutive payments, there is a penalty APR that Kinecta calls a default APR. This APR is 18% and will apply until you make six months of consecutive on-time monthly payments.
Other fees for this card include a $25 late payment/returned payment fee, a $12 document copy fee, a 3% or $10 balance transfer and cash advance fee, and a 1% foreign transaction fee.
Kinecta Federal Credit Union Visa Platinum Credit Card Verdict
If you have a credit score high enough to qualify for this card, you might want to consider other options that have lower interest rates. Some credit unions offer an interest rate as low as 7% on excellent credit score credit card, and this is certainly something you want to consider.
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