This Gold Visa is the middle-of-the-road credit card offered by the Watermark Credit Union. This card is a great option for someone that does not have a high enough credit score to qualify for the credit union’s Platinum Visa, but still wants more than its starter Classic Visa credit card. If the cardholder has the credit score and annual income high enough to qualify for this card, they will most likely be charged a lower interest rate.
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The ultimate goal for any credit cardholder is to have a low interest rate. The easiest way to get a low rate is to have a high credit score. The website of the U.S. Federal Reserve has great information on how to improve a credit score.
Watermark Credit Union Visa Gold Credit Card Rates
Like most credit cards, this Watermark Credit Union Visa Gold credit card has an interest range. The cardholder will pay between 13.49% and 18% in interest for cash advances, balance transfers, and purchases on their credit card. The final rate that the cardholder is required to pay is decided by their credit score. If the cardholder has a high credit score, they will be charged the lower annual percentage rate.
Even though an 18% annual percentage rate is the highest rate charged for a Watermark Credit Union credit card, this is still a very decent interest rate.
For other credit cards, the higher interest rates are well over 20%.
Watermark Credit Union Visa Gold Credit Card Fees
While there is no application fee for this credit card, there is a $25 annual fee. When it comes to transaction fees there is no balance transfer fee, but there is a $10 fee for all cash advances. There is a $5 fee for each debt consolidation loan check. Foreign transactions can carry either a 1% or .8% fee, depending on if there is a currency conversion involved.
There is only one penalty fee for this credit card. The cardholder will be charged $25 if their monthly payment is more than three days late. There is no fee for returned payments or for exceeding the card’s credit limit.
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