Reviews DCU Visa Platinum credit card review
DCU Visa Platinum credit card review

DCU Visa Platinum credit card review

Published: February 14, 2017
Ratings Policy
Low Interest Rating:
1.1 rating
1.1 rating
1.1 / 5
Rates, Fees, Penalties: 0.9
Rewards: 3.6
Features: 2.0

In a nutshell:

The DCU Visa Platinum credit card offers a low APR, a small sign-up bonus and relatively modest fees, but unfortunately lacks a zero percent introductory APR.

Regular APR
8.5-18%

Introductory Purchase APR
None

Introductory Balance Transfer APR
None

Fees

  • No annual fee
  • No balance transfer fee
  • 0.8-2% foreign transaction fee
  • No cash advance fee

Penalties

  • $35 late-payment fee
  • 18% penalty APR
  • No returned-payment fe

Other Notable Features: Travel accident insurance, overdraft protection, Apple Pay

The DCU Visa Platinum is not a feature-rich credit card, and it’s below average for a low interest rate card. The regular interest rate is low. Few credit cards have an interest rate equal to or better than 8.5 percent, and even fewer low interest rate cards offer a sign-up bonus (albeit small) to members. This low APR, however, is reserved for consumers with excellent credit. Otherwise, your APR can range as high as 18 percent.

Also, the card doesn’t include a zero percent introductory APR. Cardholders seeking to save money on interest could find a much better value with a card that offers zero percent interest on balance transfers and new purchases for an initial period.

Limited eligibility

To qualify for the DCU Visa Platinum credit card, you must join DCU (Digital Federal Credit Union). DCU operates in several communities in Massachusetts and Georgia. Anyone who lives or works in one of these communities is eligible to join DCU. Otherwise, you can become a DCU member by joining and donating a small sum to one of the DCU’s participating nonprofit organizations.

No introductory zero percent APR

One major drawback of the DCU Visa Platinum card is the lack of a zero percent introductory APR. Many credit cards offer an introductory zero balance interest rate on balance transfers, purchases or both for a period of 12 to 18 months. The card is not designed for cardholders who want to save money on paying off a balance over time. It is a focused product designed for cardholders who want to carry an ongoing or occasional balance at a reasonable rate. You can transfer a balance, but you will have to pay the regular APR.

Fees and penalties are low

If you miss a payment with this card, you may lose the ultralow rate and find yourself paying a penalty APR of 18 percent. Still, this is a much lower penalty rate than what many competitors charge. On the plus side, there are no returned-payment fees, no overlimit fees, and no minimum interest charge or cash advance fees. The cash advance APR, which matches your regular APR, is also very reasonable. The foreign transaction fee, which ranges up to 2 percent, is lower than average. The card does charge a late fee of $35, but this is standard.

Modest sign-up bonus

The card comes with a very modest sign-up bonus of $30, but it’s easy to get. If you make at least five purchases every 30 days for three months, you will receive $10 a month, for a total of $30.

Reasons to get it:

  • You tend to carry a balance and want to save money on interest.
  • You’re already a DCU client and want to have a credit card from the same bank.

How to use it:

  • Pay off as much as possible (more than minimum amount due) despite the low interest rate.
  • If you need to use a credit card for emergency cash, choose this one, due to its low APR and the fact that it doesn’t have a cash advance fee.

All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information. 

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