Members First Visa Platinum with No Annual Fee Card

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Last updated on September 13th, 2021

Members First Visa Platinum With No Annual Fee

Earn Rewards, Get a Great APR, & Pay No Annual Fee

Members First Visa Platinum With No Annual Fee
  • Regular Purchase APR 12.9% variable based on creditworthiness
  • Balance Transfer APR 12.9% variable based on creditworthiness
  • Cash Advance APR 12.9% variable based on creditworthiness
  • Annual Fee None
  • Credit Needed Excellent , Good
  • Processing Network Visa
Best Benefits
  • No annual fee
  • Enjoy a special 2x bonus points on every purchase
  • Easily redeem points for a variety of rewards
Rates & Fees
  • Regular Purchase APR: 12.9% variable based on creditworthiness
  • Balance Transfer APR: 12.9% variable based on creditworthiness
  • Cash Advance APR: 12.9% variable based on creditworthiness
  • Foreign Transaction Fee: 1% of the transaction in U.S. Dollars
  • Late Payment Penalty Fee: Up to $37
  • Return Payment Penalty Fee: Up to $37
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At a Glance

The Members First Visa Platinum with No Annual Fee Card is a low APR credit card that also earns rewards with every purchase. The card, from Panhandle-based credit union, Members First Credit Union of Florida, features an excellent fixed-rate APR that, while 2% higher than the rate offered by the annual fee version of the card, is still almost 5% lower than the national average.

Ideal for Those Who:

  • Already bank with Members First CU of Florida, or live within the membership area
  • Want a fixed rate APR instead of a rate that may change monthly
  • Prefer not to pay an annual fee to get a great APR
  • Want to earn rewards with every purchase

Members First Visa Platinum with No Annual Fee Review

The Members First Visa Platinum with No Annual Fee Card is a rewards and low APR credit card from Florida credit union, Members First Credit Union of Florida.

Enjoy a Fixed Interest Rate

While both versions of the Members First Visa Platinum Cards come with a fixed rate APR for purchases, balance transfers, and cash advances, the Platinum Visa with No Annual Fee Card gets a slightly higher APR than its annual fee sibling.

The No Annual Fee Visa Platinum Card features a fixed rate APR of around 12%, which is 2% more than the Annual Fee Visa Platinum. This comes at a savings of $12 per year, which isn’t a significant saving, but for those who want to avoid paying any fees, it is something to consider.

Fixed-rate APRs are an excellent option on credit cards, as they don’t change with the Prime Rate. The Prime Rate, the rate at which the Federal Reserve charges interest on the money it lends, can c fluctuations in the interest rates that consumers pay on their credit cards, mortgages, and other loan products.

Earn Rewards with Every Purchase

The Members First Visa Platinum Card earns a single point for every dollar spent on purchases through the ScoreCard Rewards Program. The ScoreCard Rewards Program is one of several rewards programs that are popular with credit unions from coast to coast and offers valuable rewards options when redeeming points, including:

  • Statement credits
  • Cash back
  • Fuel discounts at participating Alon, BP, or Shell gas stations
  • Gift cards from a variety of major retailers
  • Travel rewards, like flights, hotels, and car rentals
  • Merchandise from major retailers and designers
  • Charitable donations
  • Redeem2Erase, a program that allows members to use points to reimburse the cost of previous purchases from major brands, like Apple, Keurig, Pandora, and more

Enjoy Enhanced Security In-Store and Online

The No Annual Fee Members First Visa Platinum comes with security protections designed to help keep cardholders safe no matter where they use their card to make a purchase. The card comes equipped with EMV chip technology, which adds a layer of security for in-person purchases, helping to prevent credit card fraud.

Members First also supports digital wallet technology, meaning the card syncs seamlessly with mobile wallet apps, like Apple Pay, Google Pay, or Samsung Pay. This feature is boosted by the addition of SecurLOCK Equip, which allows users to turn their credit card on and off at will and control as many card accounts as they wish – right from their phone or mobile device.

Members First Credit Union of Florida Membership Requirements

Members First Credit Union of Florida is – you guessed it – a credit union based in Florida. As such, membership in the credit union is exclusive. To join Members First Credit Union of Florida, a prospective member must meet fir into one of the following categories:

  • Someone who works or resides in Escambia, Santa Rosa, or Okaloosa County, Florida
  • Employees (either current or retired) of any school or educational intuition in Escambia, Santa Rosa, or Okaloosa County, Florida
  • Student so any school in Escambia, Santa Rosa, or Okaloosa County, Florida
  • Members or associates of the Escambia Retired Educators Association
  • Current, former and retired employees or groups on retainer or who hold a contract with Sterling Fibers (Pace Plant), Cytec Industries, American Cyanamid or Cyanamid Employees Credit Union
  • Anyone who has an immediate family member who meets the above criteria

Should You Apply for the Members First Visa Platinum with No Annual Fee?

Overall, the Members First Visa Platinum with No Annual Fee from Members First Credit Union of Florida is a decent credit card for those who live in the catchment area for the credit union and want a no-nonsense rewards card that offers savings every day.

The card features an excellent APR on purchases, cash advances, and balance transfers that are 2% higher than what you’d get with the annual fee version of the card, but at savings of $12 per year.

The annual fee with the other version of the card, however, is nominal at best, as it works out to a single dollar per month. For this price, you get an APR that is 2% lower than with the no annual fee version, which is almost half of what the national average for credit card interest rates of 17%. That additional savings likely makes up for the $12 outlay each year, meaning the better value is with the annual fee card.

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