Last updated on September 8th, 2023
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Air Force Federal Credit Union Visa Platinum
Air Force Federal Credit Union Visa Platinum
- 15.75% to 18.00% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 15.75% to 18.00% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 15.75% to 18.00% variable based on creditworthiness and the Prime Rate Cash Advance APR
At a Glance
The Air Force Federal Credit Union Visa Platinum card wants to make credit simple, so it offers the same low rates across all its features. If you join this credit union, you’ll have one APR for purchases, balance transfers, and cash advances for maximum convenience. Not to mention, you’ll earn steady rewards to cash in for merchandise. Though there are membership qualifications to meet, military affiliation is not necessarily required to join.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Low APRs for purchases, balance transfers, and cash advances
- No annual fee
- Earn rewards on all purchases
- Regular Purchase APR: 15.75% to 18.00% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 15.75% to 18.00% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $2 or 2% of the amount of each transfer, whichever is greater
- Cash Advance APR: 15.75% to 18.00% variable based on creditworthiness and the Prime Rate
- Cash Advance Transaction Fee: Either $2 or 2% of the amount of each cash advance, whichever is greater
- Penalty APR: 18.00%
- Foreign Transaction Fee: 1% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $37
- Return Payment Penalty Fee: Up to $25
- Over Limit Penalty Fee: Up to $25
- You live or work in Texas, Mississippi, Louisiana, Arkansas, or Oklahoma
- You meet the membership qualifications or are willing to join the Airmen Heritage Foundation
- You want the same interest rates for purchases, balance transfers, and cash advances
- You need a card with no annual fee and low additional fees, but still want to earn rewards
Air Force Federal Credit Union Visa Platinum Card Review
The Visa Platinum card is the only credit card offered by the Air Force Federal Credit Union (AFFCU), because it’s the only card this bank thinks you’ll need. It’s not exactly far off, either. This card offers a little bit of everything, including attractive APRs across the board, relatively low fees, and simple rewards on all your purchases.
One Low APR for All
Most credit cards, regardless of type, assign different rates for purchases, balance transfers, and cash advances. This isn’t necessarily a drawback, especially if you don’t use all of these features. Still, it can get confusing having to remember which APR applies to which feature.
The AFFCU credit card simplifies this by applying the same variable rate for each type of transaction. They rate you get will still vary based on your creditworthiness and the Prime Rate, but you’ll only have to remember one number.
More importantly, the rates for this card hover below the average APRs for most cash back rewards cards. As such, cardholders can easily use it to make a large purchase or pay down debt while still earning some cash back.
Undetermined Visa Platinum Card Rewards
While the Visa Platinum credit card from AFFCU allows you to earn rewards on your purchases, it doesn’t offer much more information than that. Like many credit unions today, this bank reserves further information on the earnings and redemption rates for cardholders. This means you’ll have to apply to get exact details, which makes it difficult to determine the true value of the rewards – and by extension, the value of the card itself.
Low rate credit cards like this will usually offer a simple rewards rate, such as 1 point per dollar spent. Since it’s not a mid-tier rewards card, it’s also likely that you’ll earn this cash back on all your purchases, regardless of the merchant category. One detail that is provided is that you’ll automatically receive 2,500 bonus points when you sign up, with no spending requirement attached.
As far as redemption, it seems that AFFCU allows you to spend your points in the CURewards online store. There you can find items ranging from electronics and home décor to charity gift cards and car rental vouchers. Exactly how many points you need for each item is not provided until you log in. As a cash back card, it is also possible that you’ll be able to redeem for statement credits.
These low rates and rewards don’t come without a risk. If your payment is more than 60 days past the due date, you active the penalty APR. This penalty rate isn’t as harsh as some others; it sits just above the highest possible regular APR for the card. It also only lasts until you make 6 consecutive payments on time. However, missing and late payments will significantly bring down your credit score, so it’s important to avoid this as much as possible.
How to Join Air Force Federal Credit Union
It may come as a surprise, but AFFCU doesn’t require military service or affiliation to join. You do still need to meet one of the eligibility requirements, however. Mainly, you’ll want to be based in Texas, Louisiana, Arkansas, Oklahoma, or Mississippi and meet one other qualification. You can check out the full spread of options on the first page of the membership application. Some examples of eligible applicants include:
- Servicemen and women in active duty, the Reserves, or the National Guard
- Honorably discharged veterans
- Students enrolled in a local U.S. military academy
- Current or retired employees from qualifying companies
- Household members of eligible applicants
If you don’t qualify under one of these options or any others listed in the application, don’t worry. You can also simply join the Airmen Heritage Foundation. It only costs $25 to join, and automatically qualifies you for the AFFCU.
Should You Apply for the Air Force Federal Credit Union Visa Platinum Card?
If you’re looking for a card that doesn’t overcomplicate things with multiple APRs and elaborate rewards systems, the Visa Platinum credit card from AFFCU may serve you well. It’s a versatile card that can help you pay off new and old balances alike, all while earning rewards.
Whether or not these rewards meet your needs remains to be seen, since not much information it provided. However, a simple browse around the CURewards catalogue can give you a general idea. Other cards can certainly offer better rewards, but it’s hard to find one with these simple, low rates.
Above all, the main reason to apply for this credit card would be your alignment with Air Force Credit Union values. If you’re looking for Integrity, Service, and Excellence from your bank, this credit union claims to offer all that and more.