Sometimes credit card companies, banks, and credit unions offer credit cards for a limited time. They discontinue cards for a number of reasons from lack of interest to wanting to offer something new. One credit card that has met the chopping block is the Lake Michigan Credit Union Travel Plus Platinum Visa credit card.
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The Lake Michigan Credit Union does not give a reason why they no longer offer this credit card. It’s possible that because they offer the Max Rewards Visa credit card, which offers benefits for travel as well as a variety of other perks, they didn’t want to offer two rewards cards.
Lake Michigan Credit Union Travel Plus Platinum Visa Credit Card Overview
The Lake Michigan Credit Union Travel Plus Platinum Visa credit card was a rewards program credit card with no annual fee. The interest rate for this credit card was 9.25% to start. The rate was variable, which means that it would fluctuate with the prime rate, which is 3.25%. The Prime rate has been forecasted to remain the same through mid-August 2012.
The credit line for this credit card was $500-$25,000 and points were earned at a one-to-one basis.
The fees for this card included a cash advance fee of 3% and a foreign transaction fee of 1%. There was no credit card balance transfer fee.
Lake Michigan Credit Union Travel Plus Platinum Visa Credit Card Alternatives
The LMCU alternative to the Travel Plus Platinum Visa is the Max Rewards Visa credit card. This credit card offers a 10% interest rate, but a much better reward system. The rewards for this card were based on a tiered system that ranged from 3% cash back or three points for every $1 earned, to 1% cash back or one point for every $1 earned. Points were earned faster when you purchased certain items such as gas or groceries.
If you chose the cash back rewards option then you’d get cash back on your credit card based on your spending, which was rewarded annually. If you decided on the points, then you could spend points at your leisure on virtually anything you wanted from merchandise to travel and everything in between.
Lake Michigan Credit Union Travel Plus Platinum Visa Credit Card Verdict
As LMCU is no longer offering this credit card, you’ll have to consider other options. You can look at other Lake Michigan CU credit cards or compare credit cards right here.
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- Lake Michigan Credit Union Rewards Plus Platinum Visa Credit Card
- Lake Michigan Credit Union Prime Link Platinum Visa Credit Card
- Lake Michigan Credit Union Visa Gold Credit Card
- Lake Trust Credit Union Visa Platinum Elite Credit Card
- Lake Trust Credit Union Visa Platinum Elite Rewards Credit Card
- Michigan Educational Credit Union Visa Platinum Credit Card
- Michigan State University Federal Credit Union Visa Platinum Credit Card