When you’re looking to apply for a credit card, you’ve probably quickly discovered that Visa® offers a wide spectrum of options. You can’t go wrong with choosing Visa Platinum®or Visa Signature®at Space Coast Credit Union (SCCU), as each credit card brings its own type of purchasing power and benefits to the table. Though with everything from rates to perks, you may find yourself on the fence as you’re making your decision between the two cards. With this article’s credit card comparison between SCCU’s Visa Platinum and Visa Signature, you’ll have a much better idea of which card is better for you.
Main Difference Between Visa Signature and Visa Platinum
The main difference between Visa Signature and Visa Platinum is the rewards programs and minimum credit limits. However, if you’re looking for a card with cash back33, Visa Platinum is your best bet. If you prefer more travel benefits, then you’ll love Visa Signature43. Learn more about cash back vs. points rewards here. Also, each has a different “as low as” rate and rates range, which changes periodically, and you’ll find our current rates and ranges here.
Main Similarities Between Visa Signature and Visa Platinum
Both Visa Signature and Visa Platinum credit cards offer several similarities with the intent of helping you save money:
- Both offer 0% APR introductory rates on purchases and non-SCCU balance transfers for the first six months13,(By transferring other credit card balances to your SCCU credit card, you can pay them off without worrying about accruing more interest.)
- Both cards offer low variable rates after the introductory rate (depending on creditworthiness at the time of application).
- Even better, both have no annual fees, no cash advance fees, and no balance transfer fees.
- Both cards also have your back with roadside dispatch benefits.
- You can make purchases with them however you like—with just a swipe, the chip, a tap (contactless), or through digital wallet (learn more about its benefits here).
Security Protections for All SCCU Visa Credit Cards
With any SCCU credit card you choose, you can count on additional protections with their security features, such as Visa Zero Liability Protection, which means you won’t be responsible for unauthorized transactions on your account. Plus, each credit card has ID Navigator Powered by NortonLifeLock, which will notify you of potential threats to your identity.
With 2Way Text Fraud Alerts, you’ll receive a text message notifying you of any suspicious credit card activity. Plus, with the Card Control companion app (downloadable through the SCCU Mobile app), you’ll be able to see card transactions, turn cards ”on” or “off,” and much more! If your card is ever lost or stolen, you can report it to us even after hours, and we’ll help you replace your card in a timely manner. Learn more about how to arm yourself against fraud on our Fraud Prevention Center page here.
What is a Visa Signature card?
With a Visa Signature card, you’ll be able to earn points on qualifying purchases and redeem them for cash back, exclusive experiences, and merchandise.
Visa Signature Benefits
Let’s place Visa Signature under the spotlight and highlight its best features and benefits:
- Rewards program:With Visa Signature’s points program at SCCU, you’ll earn on every type of qualifying purchase! Plus, you could potentially get a greater return on your investment on your redemptions than you would with cash back.
- For every dollar you spend with a Visa Signature, you’ll earn:
- 3 points on grocery purchases
- 2 points on restaurant purchases
- 1 point for every other type of purchase
- Then, you can redeem those points for cash back, vacation getaways and cruises, gift cards, theme park tickets, live concerts/sports, entertainment, and more.
- So, let’s say you spend $400 a month on groceries and $250 a month on restaurants, you’ll earn 20,400 points for the year, so you’re earning just from eating! Plus, if you spend $400 on other purchases a month, that’s another 4,800 points for the year. With that total amount of points, you’ll have enough to buy two tickets to Busch Gardens®, for example! See all the rewards you could redeem with Visa Signature points here.
- For every dollar you spend with a Visa Signature, you’ll earn:
- Travel benefits:Whether you’re a jet-setter for business or pleasure, traveling offers a chance to make new memories…but sometimes comes with unexpected problems. Visa Signature’s got your back when you’re on the go with its travel and emergency assistance services47! Plus, you’ll get complimentary concierge services to help you plan for that dream vacation and more. See helpful tips about traveling with your credit card here.
- More deals:Visa Signature cardholders also enjoy access to oodles of offers and deals for anything from travel and dining to entertainment and shopping (terms and conditions may apply).
- Credit limit:Visa Signature is ideal for those with well-established credit because this type of credit card offers a minimum starting credit limit of $5,000, which is higher than most cards.
What is a Visa Platinum card?
Visa Platinum is popular thanks to its 1% cash back rewards for qualifying purchases, with a minimum credit limit of $1,000.
Visa Platinum Benefits
Let’s give Visa Platinum a play-by-play of its top features and benefits:
- Cashback rewards:You’ll earn 1% cash back33 on every qualifying purchase with eligible online and in-store retailers, and redemption will be credited to your SCCU Savings or Checking account. Many Visa Platinum cardholders love that cash back offers a lot of convenience with earning and flexibility to redeem it for cash value. Better yet, as long as your account remains open and in good standing, your cash back will have no expiration date.
- Lower rates:Visa Platinum offers an “as low as rate” that is 1% lower than Visa Signature (based on creditworthiness). This means that if you happen to carry a balance, you’ll potentially accrue less interest and save more money.
Which is better: Visa Platinum or Visa Signature?
Ultimately, the winner of the credit card comparison between a Visa Platinum and Visa Signature depends on your overall goals and interests:
Team Visa Signature:Best for those who are looking for a higher credit line and who like to travel and redeem points for cash back, exclusive products, and experiences. So, if you’re interested in potentially saving more money on deals and offers, this card has your name on it.
Team Visa Platinum: Best for those who prefer cash back over other types of rewards programs. Plus, if you tend to carry a balance, you could save more money with a lower rate.
You could have both types of credit cards as long as you meet each card’s standard guidelines and creditworthiness, as well as the overall amount of credit you have with SCCU.
What credit score do I need to have to get a Visa Platinum or Visa Signature card?
You can check out your credit reports on AnnualCreditReport.com, which is free to see once a year. If you see any errors, be sure to report them to the bureau(s). Keep in mind that you have multiple credit scores, but FICO® is one of the most common scoring systems. You can see your FICO credit score in your SCCU Online and Mobile Banking accounts for free. Here’s a breakdown of the FICO scoring system:
- Exceptional: 800-850
- Very Good: 740-799
- Good: 670-739
- Fair: 580-669
- Poor: 300-579
To get the lowest rate for either a Visa Platinum or a Visa Signature, a credit score of at least 760 or higher is ideal (subject to change). Applicants will need a minimum credit score of 660 to get the stamp of approval (subject to change). If you’d like to request a credit limit increase, feel free to reach out to one of our Team Members.
The better your credit score, the more likely you’ll also get a lower rate on your credit card as well as other loans, lower insurance policy premiums, and lower deposit requirements for renting an apartment. If you’d like to learn more about how you can build or improve your credit score, check out this article for ideas.
Why apply for a Visa Credit Card at SCCU?
Our priority is providing the best possible service for our members. As a credit union, we’re a not-for-profit financial institution that exists to serve our members, not stockholders. Every member owns an equal share of the credit union, and as such, we’re a member-owned cooperative. Anyone who lives or works in these 34 counties can become a member with just a $5 Share Savings deposit.
Unlike banks, we don’t offset our services and low rates with hidden fees, so you won’t have to worry about them with any of our credit cards. We offer a variety of personal Visa credit cards and a Visa Platinum card for businesses. So it’s easy to find the one that best suits your needs! You can apply for any of them easily online.
If you have any questions, you can reach out to us via the method that works best for you: chat live with us, give us a call, send us a WhatsApp text message, or schedule an appointment at any of our 65 branches, and a Team Member will be happy to help.
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Now, let's delve into the key concepts mentioned in the article about the credit card options at Space Coast Credit Union (SCCU), specifically comparing the Visa Platinum and Visa Signature cards:
1. Main Difference Between Visa Signature and Visa Platinum:
- Rewards Programs and Credit Limits:
- Visa Platinum: Emphasizes cash back rewards with a minimum credit limit of $1,000.
- Visa Signature: Offers a points program with a higher minimum starting credit limit of $5,000, ideal for those who prefer travel benefits.
2. Main Similarities Between Visa Signature and Visa Platinum:
- Both cards offer:
- 0% APR introductory rates for the first six months on purchases and non-SCCU balance transfers.
- Low variable rates after the introductory period.
- No annual fees, cash advance fees, or balance transfer fees.
- Roadside dispatch benefits.
- Multiple payment options: swipe, chip, tap (contactless), or digital wallet.
3. Security Protections for All SCCU Visa Credit Cards:
- Includes Visa Zero Liability Protection and ID Navigator Powered by NortonLifeLock.
- 2Way Text Fraud Alerts and Card Control companion app for monitoring and managing card activity.
4. Visa Signature Benefits:
- Rewards Program:
- Earn points on qualifying purchases (3 points on groceries, 2 points on restaurants, 1 point on other purchases).
- Redeem points for cash back, vacations, cruises, gift cards, theme park tickets, and more.
- Travel Benefits:
- Travel and emergency assistance services.
- Complimentary concierge services.
- More Deals:
- Access to various offers and deals on travel, dining, entertainment, and shopping.
5. Visa Platinum Benefits:
- Cashback Rewards:
- Earn 1% cash back on qualifying purchases.
- Cash back credited to SCCU Savings or Checking account.
- Lower Rates:
- "As low as" rate is 1% lower than Visa Signature, potentially saving more on interest.
6. Which is Better: Visa Platinum or Visa Signature?
- Team Visa Signature: Best for higher credit lines, travel enthusiasts, and those interested in diverse redemption options.
- Team Visa Platinum: Ideal for cash back enthusiasts and those who carry a balance, with lower rates.
7. Credit Score Requirements:
- Ideal credit score of 760 or higher for the lowest rate, with a minimum score of 660 for approval.
8. Why Apply for a Visa Credit Card at SCCU?
- Emphasizes SCCU's commitment to providing excellent service, being a not-for-profit institution, and offering a variety of credit cards with no hidden fees.
In conclusion, the article provides a comprehensive comparison of SCCU's Visa Platinum and Visa Signature credit cards, helping readers make informed decisions based on their preferences and financial goals.
