Last updated on May 2nd, 2023
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TVACCU Visa Credit Card
TVACCU Visa Credit Card
- 9.95%, 10.95%, 11.95%, 12.95%, or 13.95% variable based on your creditworthiness Regular Purchase APR
- 9.95%, 10.95%, 11.95%, 12.95%, or 13.95% variable based on your creditworthiness Balance Transfer APR
- 9.95%, 10.95%, 11.95%, 12.95%, or 13.95% variable based on your creditworthiness Cash Advance APR
At a Glance
The TVACCU Visa Credit Card is a fixed-rate credit card that offers exceptionally low APR on every purchase, balance transfer or cash advance. The card, a product from TVA Community Credit Union in Muscle Shoals, Alabama (but with locations statewide), also earns a single point for every dollar spent in the UChoose Rewards Program, with redemption options including travel, gift cards, cash back, and more. The card has no annual fee and no fees for cash advances or balance transfers.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- Earn a single UChoose Reward point for every dollar spent
- Low fixed rate APR
- Regular Purchase APR: 9.95%, 10.95%, 11.95%, 12.95%, or 13.95% variable based on your creditworthiness
- Balance Transfer APR: 9.95%, 10.95%, 11.95%, 12.95%, or 13.95% variable based on your creditworthiness
- Cash Advance APR: 9.95%, 10.95%, 11.95%, 12.95%, or 13.95% variable based on your creditworthiness
- Foreign Transaction Fee: 1% of the transaction amount in U.S. Dollars
- Late Payment Penalty Fee: Up to $100
- Return Payment Penalty Fee: Up to $30
- You prefer a fixed-rate APR over a variable APR
- You want to earn rewards on every purchase, with various redemption options available
- You don’t want to pay an annual fee
- You already bank with TVA Community Credit Unio
TVACCU Visa Credit CardTerms & Conditions
TVACCU Visa Credit Card Review
The TVACCU Visa Credit Card is a low APR credit card from Alabama’s oldest credit union, TVA Community Credit Union. The card differs from many traditional credit cards, not in that it doesn’t charge an annual fee (which isn’t too uncommon), but it features a fixed APR for purchases, balance transfers, and cash advances, something much rarer in an unsecured card.
The Benefits of a Fixed APR Credit Card
One of the unique features of the TVACCU Visa Credit Card is the great fixed rate cardholders can enjoy. While the exact rate varied depending on the creditworthiness of each applicant, even those who receive the highest fixed APR will still enjoy an interest rate of almost 4% lower than the national average APR for credit cards. Those with excellent credit scores can expect an even better fixed rate – nearly half of the national average.
A fixed-rate APR is a great perk because it means you don’t have to worry about fluctuations with the Prime Rate. The Prime Rate is the interest rate at which money is lent by the Federal Reserve, which has fluctuated several times recently. These changes can greatly affect the interest rates regular Americans pay on their credit card balances. With a fixed rate, however, you never need to worry about rate changes, instead enjoying a low APR all the time.
Earn Reward Points with Every Purchase
The TVACCU Visa Credit Card earns a single reward point for every dollar spent on eligible net purchases. Points apply towards the UChoose Rewards Program, a rewards program that is a popular option with credit unions throughout the United States.
UChoose Rewards can be redeemed for a wide variety of things, including:
- Cash Back: Receive your rewards as cash back in the form of a statement credit
- Gift Cards: There are a wide variety of gift card options to choose from, including major names in the restaurant, travel, and retail sectors.
- Travel: Use your points to book trips by purchasing airline tickets, cruises, rental cars, hotels, and more.
- Merchandise: The Rewards portal has a wide selection of merchandise to select from, including computers, televisions, video games, and more.
TVACCU Visa Card Fees
The TVACCU Visa Card, like many other quality credit union cards, prides itself on transparency – and that means it lacks fees for many things you usually pay for with a credit card from a bigger lender. The card charges no annual fee and no fees for balance transfers or cash advances, which is a nice perk.
While the card lacks many fees, however, applicants need to be wary they don’t accidentally rack up interest with balance transfers. The card doesn’t have a 0% introductory APR period for balance transfers, meaning that while there is no cost to conduct one, the new balance will begin accruing interest immediately.
While the TVACCU Visa enjoys a great fixed interest rate – probably well-below your current APR – interest can quickly grow without timely payments, leading to trouble down the road.
Another fee that cardholders can expect with the card is a foreign transaction fee of 1% of the cost of the transaction in U.S. Dollars. Foreign transaction fees only apply when purchases are made abroad or in a foreign currency, and typically cost around 3% of the transaction for cards that don’t feature any foreign transaction fees. The 1% fee with the TVACCU Visa is very fair and makes the card a useful tool both at home and abroad.
Who Can Join TVA Community Credit Union?
TVA Community Credit Union is Alabama’s oldest federally chartered credit union, having been founded all the way back in 1936. While the credit union originally was initially only open to Tennessee Valley Authority employees in Muscle Shoals, today, it is open to the public – meaning anyone can join, regardless of their employment or location.
Should You Apply for the TVACCU Visa Credit Card?
The TVACCU Visa Credit Card is a quality credit union rewards card that should appeal to people not just in Alabama, but anywhere else for that matter. The card benefits from a fixed rate APR, which, while varying based on the creditworthiness of the applicant, is significantly below what is on offer from many credit cards from larger national banks and lenders.
As with other credit union cards, the TVACCU Visa also earns points towards the UChoose Rewards Program, which offers a nice incentive to use the card for everyday purchases. While a single point for every dollar spent isn’t impressive, it is a nice perk on top of the great low APR.
Another great perk is the lack of fees for an annual membership, cash advances, or balance transfers – plus no penalty APR. Overall, the TVACCU Visa Card is an excellent option for those who already back with TVA Community Credit Union, those considering joining the credit union which is open to everyone), or those who just don’t like the hassle that comes with many card offerings from big-name banks.