This card is the highest-level credit card offered by the Municipal Credit Union. Only someone with a high credit score and annual income would qualify for this card. Since they do have to have such a good credit score to qualify these cardholders can expect to have very low interest rates with this Platinum Visa.
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Having a credit card with a low interest rate is the goal of every person with credit cards. The easiest way to qualify for a low interest credit card is to keep your debt to a minimum and not let credit card spending get out of control. Financial websites like Suze Orman‘s site have great resources on how to manage debt and credit cards.
Municipal Credit Union Visa Platinum Credit Card Rates
Like many good credit cards on the market today, this Platinum Visa has a special, low-interest introductory period. For the first six months, the cardholder will only pay 3.9% in interest for balance transfers and purchases. From the seventh month onward, the credit card’s annual percentage rate will be fixed at 9.15%.
While these special interest periods are common, finding a credit card in today’s economy with a fixed interest rate is not. Most cards have a variable interest range that determines the cardholder’s rate by their credit score. The interest rate for cash advances is fixed at 17.9%.
Municipal Credit Union Visa Platinum Credit Card Fees
Another factor that makes this credit card a great choice, other than the low interest rates, is the fact that there are very few fees with this card. There is no annual fee, which is actually very common–most cards today do not charge annual fees.
What is less common is that this card also has no fee for credit card balance transfers.
This, combined with the low balance transfer interest rate, makes it a great choice for someone looking for a new card mainly for a significant balance transfer.
The only transaction fees for this card is a 3% cash advance fee and a 1% foreign transaction fee. When it comes to penalty fees there is a $20 fee for any returned payments and a $25 late payment fee.
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