Lake Michigan Credit Prime Platinum Card

Lake Michigan Credit Prime Platinum Card

on Lake Michigan Credit Union's secure website

Lake Michigan Credit Prime Platinum Card

Lake Michigan Credit Prime Platinum Card

Lake Michigan Credit Prime Platinum Card

on Lake Michigan Credit Union's secure website

Card details

  • One of the lowest interest rates in the country, as low as Prime + 3.00%

  • Rate is variable, tiered, and is linked to Prime

  • No annual fee

  • Credit line of up to $25,000

  • Free car rental insurance

Rates, fees & offers

  • Annual fee

    $0

  • Rewards rate

    N/A

  • Bonus offer

    None

  • Intro APR

    N/A

  • Ongoing Apr

    Purchase: 8.00%, Variable

  • Balance Transfer Fee

    None

  • Foreign Transaction Fee

    1%

Recommended credit score

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NerdWallet Review

By NerdWallet

Rating Details

3.9

Editor's overall rating

Pros and Cons

Pros
  • No annual fee

Cons
  • No rewards

  • Needs excellent credit

Note: The Lake Michigan Credit Prime Platinum Card is available to residents of Michigan, or to anyone who makes a one-time $5 donation to the ALS Foundation. You might also consider looking for a low-interest card at your local credit union.
 

When it comes to low ongoing interest rates, the Lake Michigan Credit Prime Platinum Card beats much of the competition. Its APR is much lower than most cards, and the annual fee is $0, so you can afford to keep the account open for a long time.

The Lake Michigan Credit Prime Platinum Card isn’t a good pick if you plan to pay off your balance in full every month. That's because you won’t earn any rewards for your spending, and you won’t benefit from the low interest rate as you would if you carried a balance. And if you plan to pay off a large balance in a relatively short time — say, a year — you might be better off with a 0% APR promotional offer. But if you regularly carry a balance and want to save on interest payments, this card could be an excellent pick.

Please put your own review in the comments below!

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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