This Visa Gold credit card from Municipal Credit Union is a great choice for someone that has established a very good credit score, but has yet to reach the platinum level. There is also a special low interest rate period that would appeal to someone that has a large purchase or balance transfer to make.
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While no interest periods might seem like a good idea and many cards offer no interest for as long as a year, it could end up costing the cardholder more money in the long run if they are not careful. If the cardholder does make a large purchase or balance transfer, but does not pay off the balance before the new interest rate is activated, they could end up paying a lot more in interest than they thought. Sites like Smart Money‘s website have great articles about no interest credit card offers.
Municipal Credit Union Visa Gold Credit Card Rates
This card has a special introductory credit card interest rate of 4.9% for purchases and balance transfers for the first six months. After the six-month period has expired, the fixed interest rate will be 10.15%.
The regular interest rate for this card is much lower than the average interest rate today.
The annual percentage rate for cash advances is fixed at 17.9% even during the six-month introductory period.
There is no penalty interest rate for this card. There is a minimum interest charge of $.50.
Municipal Credit Union Visa Gold Credit Card Fees
There is no annual fee or balance transfer fee for this card at this time. There is a 3% transaction fee for cash advances like credit card convenience checks. A foreign transaction carries a 1% fee.
The fact that this card has no fee for balance transfers and the first six months the card is active the interest rate is so low, makes this a great credit card for balance transfers. People that like to take advantage of balance transfers usually have a balance on another card with a very high interest rate. If the cardholder can pay off the transferred balance before the low rate time period ends, they can save a lot of money.
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