Los Angeles Federal Credit Union Platinum Visa Credit Card
Intro APR of 2.9% for 6 Months
- Regular Purchase APR 9.24% to 18.00%, depending on creditworthiness. Variable with the Prime Rate.
- Balance Transfer APR 9.24% to 18.00%, depending on creditworthiness. Variable with the Prime Rate.
- Cash Advance APR 9.24% to 18.00%, depending on creditworthiness. Variable with the Prime Rate.
- Annual Fee None
- Credit Needed Good , Fair
- Intro Purchase APR 2.9% for 6 months, for transactions made during the first 90 days
- Processing Network Visa
- No annual fee
- Introductory APR of 2.9% for first 6 months of account approval, on purchases and balance transfers for transactions made within the first 90 days of opening account
- Low interest rates for a personal credit card
- EMV Chip protection, mobile wallet compatibility
- Intro Purchase APR: 2.9% for 6 months, for transactions made during the first 90 days
- Regular Purchase APR: 9.24% to 18.00%, depending on creditworthiness. Variable with the Prime Rate.
- Intro Balance Transfer APR: 2.9% for 6 months, for transactions made during the first 90 days
- Balance Transfer APR: 9.24% to 18.00%, depending on creditworthiness. Variable with the Prime Rate.
- Balance Transfer Transaction Fee: 3.00% of the amount transferred ($10 minumum and $250 maximum)
- Cash Advance APR: 9.24% to 18.00%, depending on creditworthiness. Variable with the Prime Rate.
- Cash Advance Transaction Fee: Either $10.00, or 2.00% of the amount advanced plus $2.50, whichever is greater (for advances at ATMs owned by Los Angeles Federal Credit Union) Either $10.00, or 2.00% of the amount advanced, whichever is greater (for advances at ATMs not owned by Los Angeles Federal Credit Union)
- Penalty APR: 17.90%
- Foreign Transaction Fee: 1.00% of each foreign currency transaction in U.S. dollars. 1.00% of each U.S. Dollar transaction that occurs in a foreign country.
- Late Payment Penalty Fee: Up to $20.00
- Return Payment Penalty Fee: Up to $26.00
At a Glance
The Los Angeles Federal Credit Union Platinum Visa® Credit Card from Los Angeles Federal Credit Union (LAFCU) is a no-frills, pared-down credit card that features the lowest APR this card issuer offers. Cardholders will save money thanks to a special introductory APR for six months, no annual fee, and an extremely competitive, low interest rate after the introductory period, making this card a good fit for anyone who is in search of a simple, easy-to-use credit card for balance transfers and large purchases.
Ideal for Those Who:
- Would like to forgo annual fees
- Want a card with a low interest rate for purchases and balance transfers
- Will take advantage of a special introductory APR rate for six months by making a purchase or balance transfer within 90 days of opening their card account
- Live in the Southern California area
Los Angeles Federal Credit Union Platinum Visa® Credit Card Review
For residents of Southern California who are interested in a credit card with no hidden fees and no frills, the Platinum Visa® Credit Card from LAFCU is a great place to start. While this credit card does not have a rewards program – no cash back or travel gimmicks here – Los Angeles Federal Credit Union’s Platinum card does have the lowest interest rate of all their card offers.
Low Introductory Interest Rate
In addition to a low, competitive interest rate, this card offer is also accompanied by a special introductory interest rate; cardholders will enjoy an APR of 2.9% for the first six months after they open their card, on purchases and balance transfers made within the first 90 days. This introductory rate is great, since it saves the cardholder money – but better value might be found with a card with a 0% intro APR. For example, the KeyBank Latitude® Credit Card features an APR of 0% for a whopping fifteen months as well as no annual fee, and while its interest rates are slightly higher than those of the LAFCU Platinum Visa card, this generous introductory period more than makes up for it.
Los Angeles Federal Credit Union Card Perks
While this may seem like a simple credit card, the Platinum Visa® Card is also accompanied by several useful tools from Los Angeles Federal Credit Union. These include:
- Mobile Wallet compatibility
- Online and mobile banking: View account balances and transaction history, make loan and Visa® credit card payments and more – all from your desktop or mobile device
- Credit Alerts: Cardholders can sign up for Los Angeles Federal Credit Union Credit Alerts, which helps to keep your account secure. Manage personal your account settings and take advantage of the ability to add or update alert preferences online, too. Alerts are delivered to your cell phone and/or email address, based on the parameters you choose.
Additionally, LAFCU has a Design Your Own Card option, which allows you to choose a card image and personalize your plastic.
Visa® Cardholder Benefits
While the Visa Signature card from LAFCU offers more Visa® perks, the Los Angeles Federal Credit Union Platinum Visa Credit Card does offer a few of the valuable benefits that Visa is known for.
- Lost or stolen card reporting
- Emergency card replacement
- Emergency cash disbursement
- Zero Liability (Visa will not hold you accountable for unauthorized transactions)
- Online purchase protection with Verified by Visa verification
- VISA CHECKOUT payment services
Should You Apply for the Los Angeles Federal Credit Union Platinum Visa® Credit Card?
For those who are shopping around for an easy-to-use credit card with no hidden fees and a competitive, low interest rate, the Platinum Visa Card from LAFCU is bound to be a good fit. Although it may not come with the bells and whistles accompany rewards cards like airline co-branded cards and hotel co-branded cards, its low interest rate and low introductory APR will catch the eye of anyone who wants to carry a monthly balance on their statement.
The additional perks from Visa® are also a feather in its cap, but ultimately there may be a better card with comparable features on the market – many credit cards (like the Bank of Missouri Visa® Platinum Card) have a low APR and no annual fee and actually feature an introductory APR of 0%, which is lower than the LAFCU Platinum Visa offers. If you’re looking for a simple, no-nonsense option, the Platinum Card from LAFCU is definitely worth considering, but do your research – you may find a more suitable option for your credit needs elsewhere.
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