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Last updated on December 24th, 2020
VyStar Platinum Visa Card
Enjoy a Low APR
- Regular Purchase APR 9.1%, 10.5%, or 13.5% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 9.1%, 10.5%, or 13.5% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 9.1%, 10.5%, or 13.5% variable based on creditworthiness and the Prime Rate
- Annual Fee None
- Credit Needed Excellent , Good
- Processing Network Visa
- No annual fee
- Low interest rate
- Introductory APR on balance transfers for the first year
- Set and remove your own travel notices
- Regular Purchase APR: 9.1%, 10.5%, or 13.5% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0%, 1.99%, or 2.99% for 12 months based on creditworthiness
- Balance Transfer APR: 9.1%, 10.5%, or 13.5% variable based on creditworthiness and the Prime Rate
- Cash Advance APR: 9.1%, 10.5%, or 13.5% variable based on creditworthiness and the Prime Rate
- Late Payment Penalty Fee: Up to $25
- Return Payment Penalty Fee: Up to $25
At a Glance
The VyStar Platinum Visa Card is a basic, straightforward low APR and balance transfer credit card from VyStar Credit Union in Florida. The card features the credit union’s lowest variable APR on purchases, balance transfers, and cash advances, as well as a special introductory rate on balance transfers for the first 12 months, depending on the creditworthiness of the applicant.
Ideal for Those Who:
- Already bank with VyStar Credit Union
- Live in Central of Northeast Florida
- Plan to finance a large purchase, carry a balance or transfer over existing card balances
- Have a good, but not great, credit score
- Don’t want to pay an annual fee
The VyStar Platinum Visa Card Review
Credit unions are great options for low APR credit cards, and the VyStar Platinum Visa Card is another worthy addition to this trend. The card benefits from a fixed rate APR on purchases, balance transfers, and cash advances, which varies based on the creditworthiness of the applicant. Those with excellent credit scores can expect a rate below 11%, while those with a credit score on the lower edge of the approval range (good) can expect a rate of around 15% or better.
Up to 0% Introductory APR on Balance Transfers
New accounts can also expect a welcome introductory offer, with cardholders receiving a 12-month introductory APR on balance transfers of either 0%, 1.99%, or 2.99%, depending on their creditworthiness. This offer, combined with a lack of fees for balance transfers, makes the VyStar Platinum Card a handy balance transfer card.
Things to Consider Before Applying for the VyStar Platinum Visa
While the interest rate and introductory offer with the VyStar Platinum might sound nice, they are a real letdown when compared to other credit card products from the credit union. The VyStar Visa Signature Rewards, for instance, features a fixed APR which is hugely competitive with the Platinum’s, but with the additions of 0% intro APR for 12 months (with no variations based on creditworthiness) and the chance to earn rewards points with every purchase.
So, Who Is the Platinum Card Designed For?
Since other VyStar products offer setter rewards and introductory rates to all users, who exactly is the target audience for the VyStar Visa -Platinum?
The other major cards from VyStar – the Visa Signature Rewards and Visa Signature Cash Back – are designed for those with excellent credit scores in mind. Those with impeccable credit scores get the best rates and the best rewards – that’s just the way it is. The Platinum Visa, on the other hand, is designed to cover a much larger swathe of VyStar’s credit union membership.
The variable rates with the Platinum open the card up to those with good credit scores, making it an excellent credit card for those with less-than-prime credit scores to finance significant purchases over an extended period. It’s also a reliable option for those individuals to combine existing balances and pay them off: first at the low introductory rate and later at VyStar’s normal low APR.
Should You Apply for the VyStar Platinum Visa?
The VyStar Platinum Visa Card is a good option for current VyStar members who want to receive a low APR and little else. The card is a quality balance transfer card, thanks to the low-interest rates, special introductory APR, and no fees for balance transfers.
This value, however, must be tempered with the knowledge that other VyStar credit cards offer much more for the same no annual fee. The Visa Signature Cards offer a fixed rate APR which is essentially the same as the Platinum Card’s lowest rate while offering 0% intro APR for 12 months compared to the Platinum’s variable intro APR. These cards also offer rewards in the form of UChoose points or cash back – something the Platinum Visa lacks.
The VyStar Visa Signature Cards, however, cater to a much higher credit score than the Platinum, making the Platinum Visa a much more egalitarian choice. So, if you want a no-fuss credit card and don’t have a perfect credit score in the mid 700s, the VyStar Platinum Visa Card is a reliable – and solid option to consider.