Union Bank Platinum Visa Credit Card Review

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Quick take: The Union Bank Platinum Visa credit card is a no annual fee card that has a low introductory annual percentage rate. It’s perfect for those interested in balance transfers or who simply want more time to pay for larger purchases without racking up interest charges.

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Advantages

  • Low introductory APR
  • Competitive regular APR
  • No annual fee

The inconvenients

  • Balance transfer fees apply after the first 60 days
  • Must request the card at the agency

Union Bank Platinum Visa Credit Card Overview

The Union Bank Platinum Visa credit card offers a low introductory APR of 0% on purchases and balance transfers for the first 15 months. Then a variable APR, which has one of the lowest starting APRs available today, from 10.74% to 22.24% applies.

For cardholders taking advantage of balance transfers, transfers must be completed within 60 days of account opening to receive the $0 introductory balance fee. If balance transfers are made after the first 60 days, a 3% fee for each transfer will apply or a minimum of $10.

Main characteristics

Here is an overview of the best features that the Union Bank Platinum Visa credit card has to offer.

Balance transfer

The card offers balance transfers with 0% APR for the first 15 months and no balance transfer fees for the first 60 days, followed by a variable APR of 10.74% to 22.24%. You can still transfer balances from higher interest credit cards after the initial 60 day period, but a 3% or $10 fee will apply, whichever is greater.

Introductory APR

Unlike some credit cards that only offer an introductory APR for purchases or balance transfers, the Union Bank Platinum Visa Credit Card’s 0% introductory APR applies to both. This means you can enjoy zero interest charges for over a year, which can give you a head start when it comes to paying off higher interest debt or making larger purchases that you have to repay over time.

Regular APR

With the Union Bank Platinum Visa credit card, you stand a chance of getting an extremely competitive regular APR once the introductory period is over. The current variable APR for this card is 10.74% to 22.24%.

Annual fees

The annual fee can be a significant expense that adds up over time, but the Union Bank Platinum Visa has none. Of course, most cards that have annual fees offset those fees with various rewards or perks. However, this card does not offer a cash bonus or a rewards program.

How Union Bank Platinum Visa Credit Card Stands Out

The Union Bank Platinum Visa credit card stands out because it offers 0% APR on purchases and balance transfers for 15 months, which is a better deal than cards that offer 12 months. However, it is important to note that if you take advantage of the balance transfer offer and also use the card for purchases, the interest-free grace period will no longer apply to your purchases. You will need to pay for purchases in full by the statement due date, as the regular variable APR of 10.74% to 22.24% will be applied.

Comparable Balance Transfer Card Options

To give you an idea of ​​how the Union Bank Platinum Visa credit card compares to other balance transfer cards, here’s a look at some of the options available.

The BankAmericard No Annual Fee Credit Card offers 0% APR for the first 21 billing cycles for purchases and also for any balance transfers made within the first 60 days of account opening. After the introductory period, a APR will apply. Plus, a 3% fee – or a minimum of $10 – applies to all balance transfers.

Although BankAmericard offers an introductory APR period of six months longer than that of the Union Bank Platinum Visa, its regular APR is not as good. Additionally, the Union Bank Card does not charge a balance transfer fee for transfers made within the first 60 days of account opening, while BankAmericard charges a balance transfer fee upfront.

Capital One SavorOne Rewards Card

If you’re looking for a card that offers balance transfers and rewards with no annual fee, the Capital One SavorOne is for you. It offers 0% APR on purchases and balance transfers for 15 months and a APR afterwards. However, a 3% balance transfer applies. Along with unlimited 3% cash back on dining, entertainment, streaming service and grocery purchases, cardholders can also earn a one-time cash bonus of $200 after making $500 in purchases during the first three months.

The Union Bank Platinum Visa is not a rewards card and does not offer cashback bonuses, so it cannot compete in these areas. However, it has a lower regular APR range than the Capital One SavorOne rewards card and it doesn’t charge a balance transfer fee upfront, so to speak.

How to register

If you have decided that the Union Bank Platinum Visa credit card is exactly what you are looking for, you will need to visit a branch to apply for it. Union Bank does not offer online applications.

Who is the Union Bank Platinum Visa credit card suitable for?

The Union Bank Platinum Visa credit card is best for people who want an introductory APR period on balance transfers with a no-fee balance transfer benefit for all transfers made within the first 60 days of opening Account.

Final grip

If you want to transfer higher interest balances and pay them off during the 15-month introductory period, the Union Bank Platinum Visa credit card is a good choice. Be careful though if you are tempted to let your balance exceed the introductory period as the variable APR is 10.74% to 22.24%.

Union Bank Visa Platinum Credit Card FAQs

Here are the answers to some of the most frequently asked questions about the Union Bank Platinum Visa credit card.

  • What is the credit limit on the Union Bank credit card?
    • Union Bank does not disclose the credit limits of its Platinum Visa credit card or any of its other credit cards. Your credit limit will likely depend on your creditworthiness and how the bank views it.
  • What is the minimum wage for the Union Bank credit card?
    • Union Bank does not list a minimum wage or income to approve for any of its cards. However, this is only one factor considered by creditors. Your debt-to-equity ratio — or how much you owe compared to the amount of money you earn before taxes — is another important factor creditors consider before granting an applicant a credit card.
  • What are the advantages of the Union Bank credit card?
    • In addition to the low introductory APR and low balance transfer fees during the promotional period, the Union Bank credit card also offers additional Visa benefits, such as a 24/7 card application service. 7, emergency card replacement and cash disbursement, zero fraud liability and purchase. Security.
  • What is the best Union Bank card?
    • The best Union Bank credit card offers will depend on your credit needs and financial lifestyle. For example, while the Union Bank Platinum Visa credit card might be best for someone who wants interest-free balance transfers, it won’t be best for someone who wants a rewards card that pays them back in cash. for purchases.

Rates are subject to change; unless otherwise specified, prices are updated periodically. All other account information is accurate as of October 5, 2022.

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