For residents of the Washington State area, the BECU Visa* offers simple, straightforward value with surprisingly little cost and a low. There is no rewards program or but 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,fees, balance transfer fees and 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 yourand 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(and balance transfers). This means you can Where without accruing interest for the first 12 months – as long as you make all your on time. And if you pay off your entire balance by the end of the promotional period, you’ll avoid interest charges entirely.
The 0% introductory APR for the first 12 months also applies to balances transferred from another credit card. Used strategically, acan help you avoid interest and faster.
Usually balance transfers come with an additional fee, usually 3% to 5% of the transaction, but this. Although its 0% promotional period only lasts 12 months – the longest promotions last for 21 months – the BECU Visa may be a cheaper option if you pay off your balance during the promotional period.
These cards offer longer APR intro periods – plus other features to help you avoid.
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.
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.
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.
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