Many people like the added benefits of a rewards credit card, but have no need for plane tickets and other travel rewards. These cardholders might find a cash back credit card like the Marine FCU Visa Platinum ScoreCard credit card more to their liking. Instead of earning points to exchange for merchandise, the cardholder earns a percentage of the money they spend back, like a refund.
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This card is different than most cash back credit cards because the cash is refunded annually instead of monthly. If you have a cash back credit card and want to get some ideas about what to do with the money you get back, you can find information on all types of investment options at The Wall Street Journal’s SmartMoney website.
Marine FCU Visa Platinum ScoreCard Credit Card Rates
The Marine FCU Visa Platinum ScoreCard credit card has an annual percentage rate of 11.9%. This is a very low rate for this type of credit card. This rate applies to cash advances, purchases, and balance transfers.
Typically, the credit card cash advance interest rate is higher when the credit card is issued by a bank. Credit unions tend to have better rates and keep the interest rates the same across all transactions, instead of have a different rate for each type of transaction.
The credit card penalty interest rate for this cash back card is 18%. While this is much higher than the regular 11.9% rate, it is still very low for a penalty rate. Most cards that have a penalty interest rate charge as much as 29% when the contract has been breached. The penalty rate will be applied to this card if the cardholder goes over the card’s credit limit, a payment is returned or made late, or if the cardholder has these types of issues with any of their other Marine FCU accounts.
Marine FCU Visa Platinum ScoreCard Credit Card Fees
This card has a very interesting penalty fee policy.
Most banks and credit unions charge the same fee amount consistently. However, Marine FCU charges $25 for late payments and returned payments the first time and $35 every time after that.
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