Union Bank Platinum Visa Credit Card Review
- Low introductory APR
- Competitive regular APR
- No annual fee
- Balance transfer fee applies after the first 60 days
- Must apply for the card in a branch
Union Bank Platinum Visa Credit Card Overview
The Union Bank Platinum Visa credit card offers a low 0% introductory APR on both purchases and balance transfers for the first 15 months. Then, a variable APR, which features one of the lowest starting APRs available today, of 10.74% to 22.24% applies.
For cardholders who take advantage of balance transfers, transfers must be completed within 60 days of opening the account to receive the $0 introductory balance fee. If balance transfers are conducted after the first 60 days, a 3% fee for each transfer will apply or a minimum of $10.
Here’s a rundown of the best features that the Union Bank Platinum Visa credit card has to offer.
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 higher.
Unlike some credit cards that only offer an introductory APR for either purchases or balance transfers, the Union Bank Platinum Visa credit card’s 0% introductory APR applies to both. That means you can take advantage of no interest charges for over a year, which can give you a leg up when it comes to paying off higher-interest debt or making larger purchases that you need to pay off over time.
With the Union Bank Platinum Visa credit card, you have a chance of getting an extremely competitive regular APR once the introductory period ends. The current variable APR for this card is 10.74% to 22.24%.
Annual fees can be a significant expense that adds up over time, but the Union Bank Platinum Visa doesn’t have any. 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 any sort of rewards program.
How the Union Bank Platinum Visa Credit Card Stands Out
The Union Bank Platinum Visa credit card stands out because it offers a 0% APR on both purchases and balance transfers for 15 months, which is a better deal than cards that offer 12 months. However, it’s 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’ll need to pay off the 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 measures up to other balance transfer cards, here’s a look at a couple of available options.
The no-annual-fee BankAmericard 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 from account opening. After the introductory period, a APR will apply. Additionally, a 3% fee — or a minimum of $10 — applies to all balance transfers.
Although the BankAmericard offers an introductory APR period that’s six months longer than the Union Bank Platinum Visa’s, its regular APR is not nearly as good. Also, the Union Bank card doesn’t charge a balance transfer fee for transfers made within the first 60 days of account opening, whereas the BankAmericard charges a balance transfer fee from the start.
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 has you covered. It offers 0% APR on purchases and balance transfers for 15 months and a APR thereafter. However, a 3% balance transfer does apply. Besides unlimited 3% cash back on dining, entertainment, streaming service and grocery store purchases, cardholders can also earn a one-time cash bonus of $200 after making $500 in purchases within the first three months.
The Union Bank Platinum Visa is not a rewards card and doesn’t offer a cash back bonus, so it can’t compete in those areas. However, it does have a lower regular APR range than the Capital One SavorOne Rewards Card and it doesn’t charge a balance transfer fee right out of the gate, so to speak.
How To Apply
If you’ve decided the Union Bank Platinum Visa credit card is just what you’re looking for, you’ll need to visit a branch to apply. Union Bank does not offer online applications.
Who the Union Bank Platinum Visa Credit Card Is Best For
The Union Bank Platinum Visa credit card is best for people who want an introductory APR period on balance transfers with a perk of no balance transfer fees for any transfers made within the first 60 days of account opening.
If you’re interested in transferring higher-interest balances and paying them off within the 15- month introductory APR period, the Union Bank Platinum Visa credit card is a good choice. Be careful though if you’re tempted to let your balance ride past the introductory period as the variable APR is 10.74% to 22.24%.
Union Bank Platinum Visa Credit Card FAQHere are the answers to some of the most frequently asked questions regarding the Union Bank Platinum Visa credit card.
- What is the credit limit on Union Bank credit card?
- Union Bank does not disclose the credit limits for 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 salary for Union Bank credit card?
- Union Bank does not state a minimum salary or income to be approved for one of its cards. However, that is just one factor creditors consider. Your debt-to-income ratio -- or the amount of debt you have in relation to the amount of money you make before taxes -- is another important factor creditors consider before granting an applicant a credit card.
- What are the benefits of Union Bank credit card?
- In addition to the low introductory APR and the low balance transfer fee in the promotional period, the Union Bank credit card also features additional Visa benefits, such as 24/7 card inquiry service, emergency card replacement and cash disbursement, zero fraud liability and purchase security.
- What is the best card in Union Bank?
- The best credit card Union Bank 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 cash back for purchases.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Oct. 5, 2022.
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- U.S. News. 2022. "What Annual Income Is Required for a Credit Card?"