Skip to content
close

Welcome CVF Credit Union Members! Use the Login button to sign in to your digital banking account.

African American man looking at phone and credit card with a laptop sitting in front of him.

Visa Platinum vs. Signature: What’s Right for Me?

Introduction

There are many different credit card options out there, and it’s more important than ever to understand how they work before opening a new one. Rewards may seem exciting until the reality of fees and interest rates sets in.

CFCU offers two different credit card options, a Visa® Platinum and Visa ® Signature card. This article will explain the difference between the two, and the benefits of both, so you can make an informed decision.

Visa Platinum vs. Signature: A Comparative Look

A Visa® Platinum card generally offers competitively low rates on purchases, as low as 8.90%. This will be a significant benefit to those who carry a balance on their card month over month. Many credit cards, especially store cards can have interest rates up to 30-40% interest, so this can be a huge savings. It can also be a great card for those looking for a first credit card where you may be looking to establish a good credit score.

The Visa® Platinum card allows credit limits under $5,000, so a Visa® Signature card may be a better option for those looking for a higher credit limit.

Key Differences between Visa® Platinum and Visa® Signature

A Visa® Signature card offers low rates, but not as low as the Platinum card. Visa Signature rates are as low as 9.90%. The main differentiator between Platinum and Signature cards is that Signature cards earn Cash Back rewards. This can be a great incentive for those who pay off their balance each month and don’t care as much about the interest rate.

Visa® Signature card credit limits start at $5,000 so a person looking to establish good credit may find the Platinum to be a better fit with a lower limit.

Who Should Consider a Visa® Platinum Card?

A young adult who is looking for a first credit card would be a good fit for a Visa® Platinum Card. Additionally, someone who is re-establishing a good credit score may also benefit from the Platinum Card. If you are someone who carries a balance on a credit card month over month, a Platinum may also be a good fit.

Who Should Consider a Visa® Signature Card?

If your credit is a little more established, and you’re looking to earn rewards, the Signature card could be a good fit for you. If you pay off your card more frequently, you might not be as concerned about the higher interest rate.

Additional benefits

Being a CFCU Visa® Signature cardholder comes with several exclusive benefits in addition to Cash Back, including buyer’s protection, roadside assistance, Visa Concierge and more. Visa® Credit Cards are accepted around the world and are great for travelers.

How to Apply

Members and not-yet-members can apply for a Visa Platinum or Signature online. You’ll just need to provide some personal information and answer a few questions.

CFCU offers two great options for consumers looking to save money and earn rewards with a Credit Card. Review your spending and travel habits to decide which credit card might be right for you.