It used to be that a Platinum Visa credit card meant that you had a credit card with a very high credit line because you had perfect credit. In fact, the platinum credit card took the place of the gold credit card in terms of elite credit cards. However, these days more and more credit card companies are offering platinum credit cards to people with good credit and lower incomes, in an effort to expand their client base.
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The Los Angeles Firemen’s Credit Union offers its own Platinum Visa credit card. How does it compare with other platinum credit cards and what kind of credit do you need in order to qualify for this card? Keep reading to learn more!
Los Angeles Firemen’s Credit Union Platinum Visa Credit Card – Your Credit Score
This credit card is for people with very good to perfect credit. A very good credit score starts at about the 720 range. Anything above that is exceptional. Of course, a score of 700 isn’t terrible, but this is where the differentiation begins between a good credit score and a very good credit score.
It’s not only your credit score that will be considered when determining whether or not you qualify for this credit card. Another thing that the LA FCU will look at is your credit debt-to-income ratio. They’ll look at everything that’s on your credit report that looks like a loan and compare that to the income you claim you make on your credit application.
Another thing the LA FCU is going to look at is how often you use your credit cards. For example, they’ll look at your credit card with a credit limit of $10,000. If you only have $200 available on your credit card, they’re going to consider you a much higher risk than if you have $8000 available on your credit card.
You can get a really detailed look at what your debt-to-income ratio should be, and what else creditors look for when determining your creditworthiness, on the Federal Reserve website.
Los Angeles Firemen’s Credit Union Platinum Visa Credit Card – Terms
This credit card offers an interest rate of 8.99% to 16.99%. The 8.99% is for those of you with perfect credit, while the 16.99% is for those of you with very good credit. The only other fee that you’ll have with this card, other than a return payment fee or late payment fee, is a 1% foreign transaction fee.
The LA FCU Platinum Visa card is one type of rewards credit card that offers you one point for every dollar that you spend. Points can be redeemed for hotel, airline travel, gift certificates, and much more. There is no cap on how many points you can earn, but they do expire after five years.
You’ll also benefit from extras like travel accident insurance, lost luggage insurance, rental car coverage, and more.
Los Angeles Firemen’s Credit Union Platinum Visa Credit Card – Final Verdict
If you have the credit score to qualify for this credit card, it offers excellent benefits.
Although they don’t say what the credit line might be on the LA FCU website, they do hint that your maximum credit limit will be pretty high. It offers a very good interest rate, especially considering that this is a rewards credit card.
Use the FREE credit card chaser tool to find other credit cards that meet your needs!
- Los Angeles Firemen’s Credit Union Student Visa Credit Card
- Los Angeles Firemen’s Credit Union Classic Visa Credit Card
- Los Angeles Federal Credit Union Visa Platinum Plus Credit Card with CURewards
- Los Angeles Federal Credit Union Visa Platinum Credit Card
- Los Angeles Federal Credit Union Platinum Plus Credit Card with Cash Back
- Los Angeles Federal Credit Union Visa Classic Credit Card
- Los Angeles Firemen’s Credit Union Business Visa Platinum Credit Card