News & Tips
Why Visa Platinum is the Best Cash Back Credit Card
Who doesn’t love earning money while spending money? Space Coast Credit Union’s (SCCU)’s Visa® Platinum—the star of the best cash back credit cards—gives you the power to do just that. Plus, combined with the fact that this SCCU credit card features low variable rates compared to many other leading financial institutions, it’s no wonder it’s a first-place contender. We’ll cover more on why this rewarding card should be the cornerstone of your wallet.
What is so good about a Platinum credit card—especially at SCCU?
Out of all of the best cash back credit cards, you may be wondering why ours wins the title. Every time you make a purchase with your SCCU Visa Platinum in stores or online, you’ll earn 1% cash back33. It’s an unlimited cashback credit card—no minimums, no purchase category requirements, no caps on earning amounts, and no expiration dates on redeeming your earnings (certain conditions apply)! With its special intro offer13, low or no fees, and low variable rates, cardholders also have the potential to save money. Plus, it offers security features and extra perks to boot.
How does a cash back credit card work?
Cash back allows you to earn a percentage of your purchases. For example, let’s say you made a $100 purchase with your 1% cash back credit card—then $1 would go back to you. Some credit cards specify the categories where you can earn cash back, such as gas stations or restaurants. In some cases, you can earn more with specific merchants or in certain categories during allotted timeframes.
You’ll also often have different ways to redeem your earnings depending on the provider. For example, applying that cash back towards a balance you’re carrying or redeeming it for actual cash or other offers. At SCCU, you’ll see that cash back redemption as a credit to your SCCU checking or savings account. Learn even more about how to get the most out of credit card rewards here.
Visa Platinum Benefits
Let’s get down to the nitty gritty details of the Visa Platinum benefits you’ll get at SCCU from every corner of this card:
- Special Intro Offer & Low Variable Rates: New cardholders will get the special introductory offer of 0% APR*13 on purchases and non-SCCU balance transfers. Why is this a benefit? This introductory period offers an opportunity to pay off other credit card debt or pay off big purchases during that intro timeframe without interest, which means saving more money. As previously mentioned, this card features low variable rates after that introductory period ends (depending on creditworthiness).
- No or Low Fees: If you’ve been searching “best cash back credit card no annual fee" online, then look no further than a Visa Platinum because it’s a permanent feature. Even better, you’ll never have cash advance fees or balance transfer fees either. Unlike other credit cards that may charge a whopping 3% foreign transaction fees, ours is only 1%.
- Cash Back: Earning cash back offers a lot of flexibility and convenience. Plus, you won’t have to spend time calculating the earnings, and it’s easy to redeem your earnings for actual cash value. So rest assured, every time you make purchases with your card, you earn 1% of it back. Over time, all of that cash back adds up. You can use it to cover any balances due, buy fun treats or gifts—just about anything with a price tag. If you’re wondering about the difference between earning cash back vs. points, learn more here.
- Security Protection:As our Members’ Watchdog, our top priority is protecting your financial information. In addition to Visa’s built-in security features, we provide additional ways for members to prevent fraud:
- Visa Zero Liability Protection46: This ensures you’re not on the hook for unauthorized transactions on your account.
- ID Navigator Powered by NortonLifeLock: As long your identity and credit file meets Equifax’s requirements, they’ll monitor your credit information to help prevent identity theft.
- Card Controls: Once you’ve downloaded the SCCU Mobile app, you’ll have access to the Card Controls companion app. Here you’ll be able track transactions, turn cards “on” or “off,” manage spend limits, and more all from the palm of your hand.
- 2Way Text Fraud Alerts: As a courtesy, we automatically enroll all SCCU members into 2Way Text Fraud Alerts. So any time we see suspicious activity with your account, you’ll receive a text message alert to help you address any potential issues immediately. If you need to report that your card is lost or stolen, here’s how you can do it.
- Digital Wallet Payment Options: Digital wallets such as Apple Pay®, Samsung Pay®, and Google Pay™ (GPay) also have additional layers of security when you make purchases with your credit card. Learn more about digital wallets along with their benefits here. If you’re interested in arming yourself with more fraud prevention knowledge, see our tips, infographics, articles, and more on our Fraud Prevention Center page.
- Free FICO Score® Report: Whether you’d like to build, improve, or monitor your credit, we offer a convenient way for our members to check their FICO Score for free in their Online and Mobile Banking account. Our “Beginner’s Guide to a Good Credit Score (& How to Get One)” provides more details about credit scores and strategies to improve your credit too. You can also check your credit report free on AnnualCreditReport.com—if you see any errors, be sure to notify the bureau accordingly.
- If you’re interested in arming yourself with more fraud prevention knowledge, see our tips, infographics, articles, and more on our Fraud Prevention Center page.
- Roadside Dispatch: It’s happened to even the best of us—a flat tire. As added peace of mind, you’ll have unlimited 24/7 access to roadside dispatch, a dependable service that will route reliable help to you (certain conditions apply). Additionally, this program covers dispatch services for standard towing, jump starting, lockout service, fuel delivery, and standard winching. No additional enrollment, set-up, or annual dues are required. Be sure to check out our Travel Tips page with more information about how to notify us of any upcoming trips and more card safety tips while on the road.
Learn more about how this card’s benefits compares to all of the other credit cards we offer at SCCU.
Visa Platinum Requirements
At SCCU, we look for a credit score of 660 or higher for credit card approval (subject to change). The credit card rate you receive is based on falling within certain credit score ranges. Applicants with a credit score of at least 760 or higher are more likely to get the lowest rate (subject to change). The minimum credit line is $1,000, and you can ask an SCCU Team Member for an increase. You’re also welcome to request more product information by filling out this form here.
Visa Platinum vs. Signature
As long as you meet all of the credit card qualifications without going over the total amount of credit you can have at SCCU, you can have both credit cards, but keep in mind that it’s easier to get more out of your rewards and benefits by having one card over the other.
- Visa Signature: This card offers several benefits as well, especially for those who like to earn points and travel, making it another top contender. This top-tier credit card also offers a higher minimum credit line increase, so bear in mind that it’s more ideal for members with well-established credit.
- Visa Platinum: On the other hand, this best cash back credit card with no annual fee offers a lower starting rate than Visa Signature, offering more potential to save more by paying less in interest for times cardholders are carrying a balance. If you’d like to learn more about Visa Platinum vs. Signature, check out this article.
How to Apply for a Visa Platinum at SCCU
SCCU is the third-largest credit union in Florida with 560,000 members and more than $7.7 billion in assets. Unlike banks that prioritize stockholders over their customers, we’re a not-for-profit financial institution and cooperative that solely exist to serve our members, which allows us to offer lower rates and lower fees. Learn more about difference between a credit union and a bank here.
You can become a member if you work or live in any one of these counties and make a $5 deposit in a Share Savings account, which makes you an equal shareholder of the credit union. It’s easy to apply for a Visa Platinum at SCCU online. We’ll request identifying and some financial information, and we’ll get back to you in a timely manner.
Once approved, we’ll mail your card to you within a week. Then, you’re all set to start earning with the leader of the best cash back credit cards on all qualifying purchases! If you have more questions about the Visa Platinum benefits and rewards, please feel free to reach out to a Team Member by giving us a call or messaging us on Live Chat.