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Last updated on March 10th, 2021
CAMPUS Visa Platinum Card
Enjoy a Great Variable APR
- Regular Purchase APR 7.15% to 15.15% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 7.15% to 15.15% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 7.15% to 15.15% variable based on creditworthiness and the Prime Rate
- Annual Fee None
- Credit Needed Excellent , Good
- Processing Network Visa
- No annual fee
- No balance transfer fees
- No cash advance fee
- Regular Purchase APR: 7.15% to 15.15% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 7.15% to 15.15% variable based on creditworthiness and the Prime Rate
- Cash Advance APR: 7.15% to 15.15% variable based on creditworthiness and the Prime Rate
- Penalty APR: 17.99%
- 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
At a Glance
The CAMPUS Visa Platinum Card is a low APR credit card from CAMPUS USA Credit Union. The card enjoys an impressive variable APR for those with excellent credit scores, as well as no fees for balance transactions or cash advances, Visa benefits and protections, and no annual fees for membership.
Ideal for Those Who:
- Already bank with CAMPUS USA or work at the University of Florida
- Want the benefit of shifting interest rates, rather than a fixed APR
- Don’t want to pay an annual fee
CAMPUS Visa Platinum Card Review
The CAMPUS Visa Platinum is a low APR credit card from Gainesville, Florida-based credit union, CAMPUS USA.
CAMPUS USA Credit Union Membership
Before diving into the review, it’s important to touch on exactly who can join CAMPUS USA. Membership is currently open to those who live in the following 12 counties:
- Alachua County
- Clay County
- Columbia County
- Gadsden County
- Jefferson County
- Lake County
- Leon County
- Madison County
- Marion County
- Sumter County
- Suwannee County
- Wakulla County
Membership is also open to those who are:
- An employee of the University of Florida or UF Health
- Members of the University of Florida Alumni Association
- Members of the Marion County Humane Society,
- A member of the Matheson Historical Society
- Belong to AAA South
- Immediate family of any of the individuals listed above
Enjoy a Low Variable APR Every Day
Credit unions offer several benefits that can’t be found with larger lenders like Wells Fargo or Bank of America. Credit unions are non-profits that are owned and operated by members, meaning that every penny of profit is passed on as savings for other members – including interest rate reductions.
The CAMPUS Visa Platinum Card is one such example of the solid rates on offer from credit unions. The card prides itself on a super-low rate on purchases, balance transfers, and cash advances: one that is tough to find with almost any other card from a larger bank or card issuer.
CAMPUS USA’s Platinum Card features a variable interest rate, meaning= the APR members pay will vary with fluctuations in the Prime Rate. This is distinctly different from a fixed-rate interest rate, which offers the same great rate every day.
Variable rates, on the other hand, mean that cardholders can benefit when the Federal Reserve cuts interest rates – enjoying the lowest possible interest rate available from CAMPUS USA. If, however, the rate increases, they’ll also be on the line for potential increases to the APR, so this is something to keep in mind.
Things to Consider Before Applying
While the CAMPUS Visa Platinum comes with a very favorable variable interest rate for balance transfers, as well as no fee for conducting either balance transfers or cash advances, the card doesn’t feature an introductory 0% APR period.
Switching to the Visa Platinum from Family Security CU will undoubtedly give you a better rate for paying down existing debts, but the lack of a 0% intro period means cardholders that transfer over existing balances must begin repaying their new balance immediately, or interest payments will begin to pile up.
Something else to consider before applying for the card is that it does charge a foreign transaction fee. Foreign transaction fees apply to any transactions conducted abroad or in a foreign currency. Many credit unions charge fees for these purchases at the same rate as CAMPUS USA: 1% of the transaction in U.S. dollars – but if you prefer not to be charged for using your card aboard, be forewarned.
For those who are so vehemently opposed to foreign transaction fees that they are willing to switch banks to avoid them, VyStar, another Central Florida credit union, doesn’t charge foreign transaction fees. For everyone else, however, 1% isn’t a bad charge, and won’t cause to much harm when using the card out of the country.
Should You Apply for the CAMPUS Visa Platinum Card?
The CAMPUS Visa Platinum Card isn’t a spectacular credit card that is likely to turn heads, but that doesn’t mean it is a bad card by any means. The card benefits from a variable APR that is extremely generous for those with an excellent credit score, and middling for anyone with a good or fair credit score.
The lack of an annual fee, as well as fees for balance transfers and cash advances also help the card – but foreign transaction fees and no introductory APR period are definitely black marks against it.
Overall, however, the pros more than outweigh the cons. The CAMPUS Visa Platinum is designed to be a low APR card to help finance larger purchases and pay down existing balances, and that is something it does very well.