First Financial Credit Union Visa® Platinum Rewards Card

First Financial Credit Union Visa® Platinum Rewards Review

First Financial Credit Union’s Visa Platinum card is a basic rewards credit card that earns cardholders one point for ever dollar they spend. Additionally, this card has no annual fee and no fees for foreign transactions. Cardholders can also take advantage of a low APR for balance transfers.

Earn Points on All Your Purchases

The Platinum Rewards card has a simple points system. A cardholder basically earns one point for every dollar he or she spends using this card. The rewards program is managed through Scorecard, a third-party entity.

Cardholders can redeem their points for merchandise, gift cards, digital downloads, experiences, and more. Scorecard doesn’t publicly advertise the value of each of these items, however. An applicant won’t know how many points he or she would need to earn to qualify them for a reward until he or she has been approved. This can make it difficult to determine whether or not this rewards program is something you actually want in a credit card.

No Fees

First Financial doesn’t charge an annual fee for using its Platinum Rewards Visa. This is an advantage for many cardholders, especially considering that many rewards cards do charge cardholders a fee for access to these perks.

Furthermore, there are no foreign transaction fees associated with this credit card. This means that you can use it freely when you travel abroad. Considering that Visa is widely accept throughout most of the world, the Platinum Rewards card can be your best friend when you travel

Low APR for Balance Transfers

If you have a balance on a high-interest credit card that you would like to pay off, then the Platinum Visa from First Financial can be a good option to consider. Cardholders benefit from an interest rate that is at three times lower than the regular APR on balance transfers.

This special balance transfer APR is effective for 6 months from the date that you transferred over a balance to this card. Afterwards, the regular interest rate applies.

The good thing about this feature is that there is no time limit for when you can transfer a balance. Many other cards’ balance transfer promotions are only limited to transactions cardholders perform within a set period, usually right after they get approved for a credit card.

For instance, an issuer may offer 0% interest on balance transfers you make within 90 days of opening an account. With First Financial’s Rewards card, you can take advantage of the promotional APR any time as long as your account is still open and in good standing. Keep in mind, though, that this credit union does charge a fee for balance transfers.

Competitive Interest Rates

Perhaps one of the greatest overall draws of this Visa Platinum Rewards card is its low interest rates. There is a wide range of APRs an applicant can receive – about 12 percentage points from the lowest to the highest interest rate.

The thing to keep in mind is that the highest interest rate for this card is only about five percentage points higher than the national average. If you have a good credit rating, First Financial may approve you for a much lower APR that will make this card a lifelong resident of your wallet.

Should You Apply for the First Financial’s Visa® Platinum Rewards Card?

The First Financial Visa Platinum Rewards card is primarily a good fit for people who are already members of this credit union. While you must meet certain requirements to be granted membership, the good news is that First Financial is open to almost anyone living or working in New Mexico. Many credit unions have very specific membership requirements, including rules on members’ employers.

Other than that, this card may appeal mostly to individuals who want to periodically transfer balances over a long period of time. No time limits on when cardholders can take advantage of the lower APR means that you can transfer portions of balances at different times.

Alternatively, you can transfer difference balances from different credit cards. As long as you pay your balance off in six months, this card can help you reduce your overall credit card debt.

Nevertheless, if you aren’t tied to this credit union, there are other rewards cards that may offer more attractive features.

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