VISA® Platinum Credit Card
VISA® Classic Credit Card
|RATE||AS LOW AS 9.40% APR*||AS LOW AS 11.90% APR*|
|MAX RATE||AS HIGH AS 17.90% APR*||AS HIGH AS 17.90% APR*|
|MINIMUM CREDIT LINE||$5,000||$500|
|PROMO AND REGULAR BALANCE TRANSFER OPTIONS||X||X|
|PROMOTION: VISA® BALANCE TRANSFER||PROMOTION: VISA® BALANCE TRANSFER|
|NO ANNUAL FEE||X||X|
|FREE ONLINE ACCESS||X||X|
|MULTIPLE PAYMENT OPTIONS||X||X|
|REWARDS||EXTRA AWARDS||NO REWARDS|
|Visit the ExtraAwards® webpage for information on redeeming your reward points.|
Visa Account Updater (VAU) is a service that facilitates and encourages customer satisfaction, retention and loyalty by exchanging updated account information between participating merchants and Visa card issuers. Serving as an automated, dedicated, and secure clearinghouse, VAU delivers updated cardholder account information in a timely, efficient, and cost-effective manner, benefiting all parties involved in the electronic payment process.
What is Visa Account Updater?
Visa® requires LFCU to support Visa Account Updater (VAU). These services enable the secure electronic exchange of card number and expiration date updates between issuers and participating acquirers for card-on-file (COF) merchants. (EXAMPLE: The exchange between LFCU and OnStar.)
What does this service do?
The VAU service allows a way for LFCU to provide Visa the most recent card number and expiration date updates and in turn VISA will make this information available to the acquiring merchants that participate in the VAU service.
Will LFCU cardholders have an option to opt out?
Yes. Members will have an option to opt out cards should a cardholder request it. For VAU, when a cardholder opts out, the merchant will get a contact cardholder status for the old card with no new card information.
What is a card-on-file (COF) merchant?
COF merchants store their customers’ card number information for future purchases and/or recurring payments. Some examples are monthly utility payments, Netflix, Redbox, etc.
What are the benefits of VAU for LFCU and cardholders?
The benefits that issuers offer to their cardholders will provide:
- An uninterrupted service from participating COF merchants
- Prevent customer service interruptions with billing disputes
- Cardholders will no longer have to provide updated card information to participating merchants when their card is reissued, lost, or stolen
Recurring payments will likely be more successful as updated card information is readily made available to participating merchants.
What scenario would the merchant use the VAU services?
Participating COF merchants will try to obtain updated cardholder information prior to their billing cycle. Merchants that participate in the VAU services will be able to access updated card number and expiration date information, eliminating the potential for denied transactions due to outdated cardholder information on their systems.
What happens if my card is compromised?
Compromised cards will be closed and replacement card numbers/expiration dates will NOT be sent upon activation of new cards to VAU. LFCU members will have to contact any merchants that previously had their compromised card on file to provide them their new card information
Do you have a VISA® Classic or Platinum Credit Card with LFCU?
Are you considering applying for a NEW VISA® Credit Card?
Do you have balances on other credit cards or loans?
This program may be for you!
LFCU offers a VISA® Balance Transfer Program! This program allows VISA Cardholders to transfer funds with a 3% balance transfer fee at 0% APR for 365 days*! After the promotional period, the amount left unpaid on your LFCU VISA® will revert to a rate between 9.40% APR and 17.90% APR based on your credit worthiness at time of application.
- LFCU VISA® Credit Cards have NO Annual Fee
- Purchases are at a fixed rate.
- Easy payment options – Automatic payments from your LFCU account(s) NetTeller transfers, LFCU Mobile App transfers, payroll deductions, or you can make a payment at one of our offices.
Stop by an office TODAY to see if you are eligible to take advantage of this great program!
*The 0.00% Annual Percentage Rate (APR) on Balance Transfers is eligible on LFCU Classic and Platinum VISA® Credit Cards. There will be a 3% balance transfer fee at the time of each balance transfer during the 365 day promotional period starting after the first balance transfer date. Balance transfer(s) will revert, after 365 days from date of first balance transfer, to the rate approved at time of application. Current rates range from 9.40% APR to 17.90% APR. The 365 days after first time of balance transfer posting will be considered the promotional period. After the expiration of your promotional rate, the remaining unpaid portion of all balance transfer(s) processed during the promotional period will be subject to your normal APR as outlined on your monthly statement based on the specific LFCU VISA®Credit Card selected. The total amount of outstanding transfer requests cannot total more than your available credit. Any new purchases will be charged at current rates per Cardholder Agreement & Disclosure. Any payment received on your Visa will be applied first to the highest rate balances. Other restrictions or conditions may apply. You may not pay off any of your current LFCU loans or lines of credit by using this balance transfer option. Offer expires December 31, 2019. LFCU is an Equal Opportunity Lender.
APR* – Annual Percentage Rate.
¹Fixed rate: Approved rate will not change during the life of the loan.