Rewards credit cards are a great way for cardholders to earn extras like plane tickets by just using their card like they normally would. By getting a rewards card through a credit union like this Visa Platinum ScoreCard credit card through Marine Federal Credit Union, the cardholder can get a much lower interest rate than if their rewards card was issued by a bank.
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While there are many benefits to this type of card, some people can let their spending get out of control in the pursuit of more points. For tips on how to use a rewards card the best way, go to the Smart Money website today.
Marine FCU Visa Platinum ScoreCard Credit Card Rates
This card has an extremely low interest rate for a rewards credit card. The annual percentage rate is only 9.9% and this rate applies to purchases, cash advances, and balance transfers.
It is not typical for the cash advance interest rate to be the same as the purchase rate. It is even rarer for the credit card cash advance interest rate to be below 10%.
The penalty interest rate is 18% for this credit card. The credit card penalty rate will be applied if the cardholder makes a late payment, goes over the card’s credit limit, or has a monthly payment returned. The penalty rate will also be applied to this card if the cardholder makes any of these mistakes with another account.
Once the penalty interest rate is applied, the cardholder must make six consecutive credit card minimum monthly payments when due to have the penalty rate lifted. Unfortunately, if a penalty rate is applied, the cardholder will no longer be eligible for the rewards program.
Marine FCU Visa Platinum ScoreCard Credit Card Fees
There are no set up or maintenance fees for this credit card. The cardholder will be charged 3% for balance transfers and cash advances. Both of these transactions also have a minimum fee charge of $10.
Foreign transactions can cost as much as 2.8%. To have a lost or stolen credit card replaced, the cardholder will be charged $5. If there an issue with the card that needs to be researched, the cardholder will be charged a $10 per hour research fee.
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