Michigan State University Federal Credit Union Visa Platinum Plus Credit Card

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Michigan State University Federal Credit Union Visa Platinum Plus Credit CardThe Michigan State University Federal Credit Union is a credit union for students, staff, faculty, alumni, and members of the Alumni Association for Oakland University and Michigan State University. It offers many services to its members and one such offering is the MSU FCU Visa Platinum Plus credit card.

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If you qualify for the Michigan State University Federal Credit Union Visa Platinum Plus credit card, you may be wondering whether or not this Platinum Plus Visa credit card is right for you. You can determine that now by giving this review a quick read!

MSU FCU Visa Platinum Plus Credit Card Features

This credit card is one of two platinum credit cards offered by MSU FCU. This particular one is a rewards credit card, which is why it’s called the Platinum Plus credit card.

This is really the one major feature of this credit card and it offers 0.5% cash back for every purchase that you make.

MSU FCU pays out your earned cash on an annual basis. You must have a savings account at MSU FCU in order to earn any cash back. The rewards will be directly deposited into your savings account on the date of each anniversary of card ownership.

Other features for this credit card include:

  • Minimum credit limit of $2,500
  • Maximum credit limit of $50,000
  • 12.9% APR
  • 25 days no interest charged for new purchases
  • No annual fee

MSU FCU Visa Platinum Plus Credit Card Considerations

One of the first things you’ll need to consider is the fact that you must have very good to perfect credit to qualify for this credit card. Another thing you want to consider is that there’s a 17.9% penalty APR applied if you miss two consecutive payments on your credit card.

While a penalty APR is not necessarily an unusual fee, what is unusual is that this credit union does not forgive the fee after you make six on-time payments. This means that, once you have that 17.9% credit card penalty rate, it will be your permanent APR no matter how good your credit might be.

Lastly is the fact that there is a 1% ATM transaction fee and a 3% transaction fee for all other cash advance transactions. Many credit unions waive these fees, which is something you want to think about.

MSU FCU Visa Platinum Plus Credit Card Verdict

While every fee charged by this credit union is perfectly legal according to the Federal Reserve, you’ll find that many credit unions simply don’t charge these fees.

However, it does have a great range for the credit limit, which can provide you with a lot of buying power. Just make sure to compare options between credit unions.

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