Platinum

Platinum

on First Command Bank's secure website

Platinum

Platinum

Platinum

on First Command Bank's secure website

Card details

  • No annual fee, over-limit fee, balance transfer fee or online account access fee

  • Same low, variable APR of prime rate 5% for purchases, cash advances and balance transfers

  • Minimum credit limit of $5,000

Rates, fees & offers

  • Annual fee

    $0

  • Rewards rate

    N/A

  • Bonus offer

    None

  • Intro APR

    N/A

  • Ongoing Apr

    Purchase: 8.50%, Variable

  • Foreign Transaction Fee

    None

Recommended credit score

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NerdWallet Review

By NerdWallet

Rating Details

3

Editor's overall rating

Pros and Cons

Pros
  • No annual fee

  • No foreign transaction fee

Cons
  • Needs excellent credit

First Command Bank is a subsidiary of First Command Financial Services, a bank organized in 1958 to serve America's Military families. Today, First Command serves nearly 300,000 families, military and civilian, and offers a variety of financial services.

First Command Visa Platinum Offers One Simple Low Rate For All Balances
The First Command Bank Visa Platinum is popular with federal employees and military families due to it's simplicity.

The low Prime + 3% APR, which is 6.25% at the time of this writing, applies to all balances. This includes balance transfers, cash advances, and purchases. Other fees are also reasonable - there is no balance transfer fee, there is a 2% cash advance fee, and late payment fees are capped at $15, which is substantially better than the $39 typically charged by large national banks.

The Negatives

The downsides of the card are two-fold. First, it does not earn rewards. Second, it does not have a great introductory APR promotion like many other cards out there, though that is offset to a large extent by the low ongoing APR.

However, if you think you may run up a balance, you should consider whether you are willing to switch from one 0% intro APR credit card offer to the next every so often. And if you already carry a balance, you should consider whether you would be better off getting a 0% balance transfer deal, which can land you up to 0% for 21 months at the time of this writing.

Those great introductory rates can effectively get you a lower interest rate than going with a super low APR card like the First Command Visa Platinum.

User Reviews

Rating Details

NerdWallet reviews are the result of independent research by our editorial team while cardholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.

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