This review is for the Members 1st FCU Visa Platinum Choice Rewards Cash Back Option Credit Card. The card is offered through Members 1st Federal Credit Union and is available as either a Platinum Select Card or a Platinum Choice Rewards Card.
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The Platinum Select card through Members 1st FCU has a low annual percentage rate, while the Platinum Choice Rewards card allows you to choose your award either as cash back once a year or points that you can use on airline tickets, merchandise or other items.
Members 1st Credit Card Details
The annual percentage rate for the Members 1st FCU Visa Platinum Select Credit Card is a variable rate between 8.25% and 15.75% based on the cardholders’ credit score. The penalty APR for either missing a payment or having a payment returned is 18%.
Fees for missed payments, late payments and over the credit limit fees range from $10 to $25.
The APR for the Members 1st FCU Visa Platinum Choice Rewards Cash Back Option Credit Card ranges from 10.75% to 17.99%, also based on the cardholders’ credit worthiness. The penalty APR is the same for both cards.
For the cash back rewards component of the Members 1st FCU Visa Platinum Choice Rewards Cash Back Option Credit Card, the amount you receive back depends on the amount you have charged on your card.
For example, if you spend under $1,000 on the card you will receive .25% cash back. However, if you spend $3,000 or more, your cash rewards will be at the 1% level.
Members 1st Credit Card Benefits
There are many benefits available for each card, including insurance coverage in the event of illness, death, or disability from working.
Other benefits include travel insurance valued at up to $1 million, coverage from rental car damage, no fee balance transfers, and free online access to your account.
Members 1st Credit Card Bottom Line
With two different options, the Members 1st Visa Credit Cards are good options if you are responsible with your credit usage and are looking for a solid cash back program. The rewards card is especially beneficial if you use your card a lot throughout the year.
However, it is important to look at all your options with rewards cards, as according to CNN Money there are some costs associated with some of the offers available.
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