Mid-Hudson Valley Federal Credit Union Visa Platinum + Rewards Credit Card

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Mid-Hudson Valley Federal Credit Union Visa Platinum + Rewards Credit CardChoosing the best credit card deal makes good financial sense. It can be easy to create credit card debt that gets out of control. As such, it’s in your best interest to choose the credit card with the best terms, as well as the lowest interest rates. With the Mid-Hudson Valley Federal Credit Union Visa Platinum+ Rewards credit card, it’s possible to get both.

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The right credit card can save you hundreds of dollars a year. However, understanding the terms of the card is the only way to ensure that you’re getting the best rate and terms.

MHV FCU Visa Platinum+ Rewards Credit Card – Understanding the Terms

To begin, the MHV FCU Visa Platinum+ Rewards credit card has an interest rate that’s based on the prime rate plus standard interest. In this case, the prime rate is 3.25%, which is based on the recommendation by the Board of Governors of the Federal Reserve System.

This credit card offers an interest rate of 5.75% plus the prime rate, which means the rate is 9% to start. The highest interest rate for this credit card is 8.75% plus the prime rate, which means the total rate is 12%.

As you can see by these reasonably low interest rates, in order to qualify for this credit card you’ll need very good to perfect credit.

The maximum credit line for this credit card is $30,000. However, it’s more likely that you’ll start with a credit limit of around $2,000, which will increase every six months to one year that you maintain a good credit history, payment history, and debt-to-income ratio.

Other terms include transaction fees. However, the only fee associated with this card, with the exception of the standard late payment or return payment fee, is the cash to finance fee, which is $2 or 2% of your purchase total. There is a cap on this charge of $20.

Lastly, this card does have a $25 annual fee. It’s the only credit card offered by the Mid-Hudson Valley FCU with an annual fee. It’s likely this fee is to help defer the cost of offering a rewards credit card.

MHV FCU Visa Platinum+ Rewards Credit Card – Applying for the Card

In order to apply for this credit card you do have to be a member of the MHV FCU. To become a member you have to live, work, volunteer, go to church, or attend school in Orange, Duchess, or Ulster counties in New York.

You cannot apply for this credit card online; instead you’ll have to print out an application and bring it into one of the branches, or you can apply directly at one of the credit union branches.

MHV FCU Visa Platinum+ Rewards Credit Card – The Bottom Line

The only real problem with this credit card is that you can only qualify as a MHV credit union member, and of course there’s the credit score issue to consider as well. However, this credit card does offer great interest rates to save you money.

In addition, it is a rewards credit card, although the rewards program is limited. You can only earn one point for every dollar you spend, although you can redeem those points for both merchandise and travel experiences.

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Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!

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