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Which Visa Credit Card is Right for You? Discover Your Perfect Match

Aug 09, 2023
Find out which credit card option works best for you.

Rarely do people hear the saying, "cash is king,” largely because the Visa Credit Card now ranks as the most convenient way to make purchases. When we consider payment statistics, it may be more appropriate to say, “plastic is king.” After all, upwards of 55 percent of people use a credit or debit card for purchases. Only 19 percent generally use cash and some establishments only take cards.

Given the trend away from cash, the question people are asking is: Which Visa Credit Card is right for me? By weighing the benefits of various programs and low-interest availability, you can make informed decisions when applying for a Visa Credit Card.

What are the Benefits of Using a Visa Credit Card?

The primary reason consumers overwhelmingly switched from cash to cards stems from convenience. Retail outlets, restaurants, and other businesses eliminated swipe fees and made credit cards the method of choice. Companies now roll fees into goods and services, so the consumer never experiences a separate cost.

From the cardholder's perspective, the worry of losing cash or having it stolen disappears. If you lose your Visa Credit Card, you can call your financial institution to have a new one issued. The financial security and peace of mind cannot be replicated with cash. The convenience and comfort of using credit cards have resulted in many no longer using cash.

When applying for a Visa Credit Card, it’s prudent to identify a program that delivers benefits that align with your lifestyle. These rank among the more attractive options to compare.

  • Grace Periods: A grace period is the period between the end of a billing cycle and the date your payment is due. If your card does offer a grace period and you have no balance on your card, you can avoid paying interest on any new purchases as long as you pay them off in full by the next due date. While credit card companies aren’t required to offer a grace period, CCCU’s Visa Credit Cards offer a 25-day grace period on purchases.

  • Cash Advances: Some programs charge cardholders a fee for cash advances. This policy seems unfair given the fact people repay the amount with interest. When choosing a Visa Credit Card, make certain cash advances remain fee-free. CCCU offers fee-free cash advances.

  • Balance Transfers: Large, privately owned banks include fees when transferring balances. This strategy can be of benefit when having to pay their shareholders. Local credit unions are owned by their members and typically waive profit-driving fees on a Visa Credit Card program. CCCU offers a free balance transfer option on all new balance transfers for the first six months.

  • Emergency Card Replacement: Let’s face it, we’ve all misplaced our wallets or purses at least once. Without your Visa Credit Card or debit card, people must write checks, travel to the credit union and withdraw cash, or sit idle. Quick replacement for a lost or stolen Visa Credit Card is no small perk when you don’t have one. CCCU offers emergency card replacement.

  • Rental Damage Waiver: This benefit reimburses Visa Credit Card users in the event a rental car sustains damage or theft. Considered a supplement, it fills financial gaps after primary rental insurance has been exhausted. Although an auto rental collision damage waiver may not seem exciting, it can save cardholders thousands. CCCU offers an auto rental collision damage waiver.

Reveal the forgotten perks that only the best credit cards offer, by downloading our free guide:
The Best Credit Cards Always Offer These Hidden Benefits

Possessing and routinely using a Visa Credit Card also proves a valuable credit-building asset. Cardholders establish a positive repayment history by making purchases and paying down the balance each month. The credit limit also raises your bandwidth, improving your FICO score and long-term borrowing power. By contrast, paying in cash carries no credit history benefits, peace of mind, or perks.

How Many Visa Credit Cards Should I Have?

The average American possesses three credit cards and two to three retail store cards, according to a 2021 survey by Experian. That’s five to six accounts, and experts generally agree diversification remains important.

The reasoning behind different types involves FICO metrics that weigh the mix of accounts to raise or lower credit scores. Having a Discover, MasterCard, and Visa Credit Card would nicely round out a consumer's accounts and have a positive influence on their FICO score. However, the best credit card for your wallet should provide low interest, a grace period, fee-free balance transfers, fee-free cash advances, and customer-friendly services in the event of an emergency.

Which Visa Credit Card Options Are Available at CCCU?

CCCU is dedicated to providing our valued members with the lowest interest borrowing opportunities possible. Our Visa credit card program has been created with our members’ financial needs in mind and features straightforward, honest solutions our members can count on.

Low Rate Visa Platinum

This program offers a Visa Credit Card with a low, affordable interest rate. This card is great for building or repairing credit, saving on unnecessarily high interest, and is a great option for debt consolidation. In addition to a low rate, this card includes a 25-day grace period, a free balance transfer option, fee-free cash advances, emergency services, and an auto rental collision damage waiver.

Visa Platinum with Rewards

This Visa Credit Card comes with all of CCCU’s standard Visa Credit Card benefits and adds rewards to the mix. When using this Visa Credit Card, you effectively reward yourself for spending responsibly.

Student Visa Platinum with Rewards

This starter Visa Credit Card helps young adults establish a repayment history early and build a robust credit score. Parents who work with their children to learn frugal financial practices generally serve as co-signers for 18-year-olds to help them have a positive first experience with credit.

The long-term benefit of securing this Visa Credit Card involves creating credit diversification and displaying a strong, consistent credit history prior to applying for an auto loan or personal loan.

Still Not Sure Which Visa Credit Card is Best?

With so many options and types of cards available, deciding on the best credit card can feel overwhelming. If you have additional questions about the cards CCCU offers, or if you’re unsure which Visa Credit Card best fits your unique needs, contact CCCU today.

If you're ready to apply for a CCCU Visa Credit Card, apply online today!

For more tips on selecting the right Visa Credit Card for your lifestyle, review our "The Best Credit Cards Always Offer These Hidden Benefits" complete guide!