BECU Visa: Washington Residents Can Avoid Credit Card Interest


For residents of the Washington State area, the BECU Visa* offers simple, straightforward value with surprisingly little cost and a low Introductory APR. There is no rewards program or welcome bonusbut if you’re looking to make a big purchase or pay off a balance that’s racking up interest charges, this card will buy you time to improve your finances.

As with any card with a low launch APR, there is a risk of overspending. But the BECU Visa offers inexpensive access to cash both during the launch period and, compared to many other comparable cards, thereafter. And the absence of annual dues, cash advance fees, balance transfer fees and foreign transaction fees makes it a compelling option for eligible applicants.

And that may be the problem, because only Washington residents, students, and business owners are eligible for BECU membership or credit cards, with some exceptions for Idaho, Oregon and partner organizations.

In this article

Introductory offerN / A

APR10.24% to 22.24% variable

Intro Purchase APR0% APR for your first 12 months

Recommended credit Excellent/Good

Reward rateN / A

Annual feesN / A

Intro Balance Transfer APR0% APR for your first 12 months

APR balance transfer10.24% to 22.24% variable

How to Apply for BECU Visa

Eligibility for the BECU visa is limited. Applicants must live, work, worship, or study in Washington State; live in certain counties in Oregon or Idaho; or belong to an eligible partner association. Here are the specific requirements:

Washington: Residents, students, employees, etc. in all departments

Oregon: Benton, Clackamas, Columbia, Deschutes, Lane, Linn, Marion, Multnomah, Polk, Washington, and residents of Yamhill County

Idaho: Residents of Benewah, Bonner, Boundary, Clearwater, Idaho, Kootenai, Latah, Lewis, Nez Perce and Shoshone

Partner organizations: Members of the UW Alumni Association, WSU Alumni Association, and employees of BECU, Boeing, or credit unions

If you are eligible, you can apply online or visit a BECU site for in-person applications.

Standard and introductory APR

The BECU Visa’s standard APR ranges from 10.24% to 22.24% – a little lower than the average APR of around 18% for credit cards. Although your specific APR is determined by your credit score and financial situation, cardholders can be rewarded with a lower APR if payments are made quickly over time.

During the first 12 months, the BECU Visa offers a 0% introductory APR on purchases (and balance transfers). This means you can finance a big purchase Where put an emergency expense on your credit card without accruing interest for the first 12 months – as long as you make all your minimum payments on time. And if you pay off your entire balance by the end of the promotional period, you’ll avoid interest charges entirely.

Balance transfers

The 0% introductory APR for the first 12 months also applies to balances transferred from another credit card. Used strategically, a balance transfer can help you avoid interest and pay off your credit card debt faster.

Usually balance transfers come with an additional fee, usually 3% to 5% of the transaction, but this credit card has no balance transfer fee. Although its 0% promotional period only lasts 12 months – the longest credit card balance transfer promotions last for 21 months – the BECU Visa may be a cheaper option if you pay off your balance during the promotional period.

Alternate Maps

These cards offer longer APR intro periods – plus other features to help you avoid credit card interest.

Chase Slate Edge℠

The Chase Slate Edge℠ offers 0% introductory APR on purchases and balance transfers for 18 months. After that, the standard variable APR range will be 17.24% to 25.99%. That’s a longer introductory period than you’ll get with the BECU Visa – but there’s a 3% ($5 minimum) introductory balance transfer fee for transfers made within the first 60 days. following account opening. After that, the balance transfer fee is 5% or $5, whichever is greater.

But Chase also offers a way to lower your APR. Every year you spend at least $1,000 on the card and make your payments on time, you qualify for a reduction in your APR of 2% – down to prime (currently at 5.50%) plus 9.74 %. That said, the APR for the BECU card is still a bit lower – if you have great credit.

For more details, check out our full review of the Chase Slate Edge.

Union Bank® Platinum™ Visa® Credit Card

If you’re looking to minimize balance transfer fees, the Union Bank® Platinum™ Visa®* credit card offers a longer introductory APR than the Visa BECU and a promotional balance transfer fee of $0 if you transfer your balance within the first 60 days. For this reason, its wider candidate network and longer APR intro period, it is a better credit card for most people.

You are entitled to 0% APR on balance transfers and purchases for the first 15 months. Then the standard APR of 10.74% and 22.24% comes into play – the same variable APR range as the BECU Visa.

FAQs

Is the balance transfer fee worth it?

Cards with balance transfer fees typically offer longer timeframes for their introductory APRs – typically 18-21 months or billing cycles versus 12-15. If you can’t pay off your balance within a shorter timeframe , a balance transfer fee will generally be less than the interest you would otherwise incur.

What are foreign transaction fees?

Foreign transaction fees are fees on your transactions made abroad. Usually they cost 3% of each transaction. Credit cards with no foreign transaction fees often offer other travel benefits and rewards.

A cash advance lets you withdraw money based on your credit limit. However, this is an expensive way to obtain cash, even in cases where there are no cash advance fees. Until you repay the cash back, the amount borrowed is subject to a cash advance APR, which may be even higher than the standard APR.

*All information about the BECU Visa and Union Bank Platinum Visa credit card has been independently collected by CNET and has not been reviewed by the issuer.

Editorial content on this page is based solely on objective, independent assessments by our editors and is not influenced by advertising or partnerships. It was not supplied or commissioned by a third party. However, we may receive compensation when you click on links to products or services offered by our partners.

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