BECU Visa credit card is a popular option known for its low interest rates and minimal fees. This card attracts individuals seeking to minimize their finance charges while enjoying the benefits of a reliable credit card. Those who qualify for this card can expect an ultralow APR, making it an excellent choice for those looking to manage their credit effectively.
This BECU Visa credit card review aims to provide details on the features, pros, and cons of this card, allowing potential users to make informed decisions about whether it suits their financial needs. As credit cards continue to play an essential role in today’s economy, it is crucial to choose the right card that can help achieve financial stability and meet spending habits.
Washington residents, in particular, can benefit from the BECU Visa credit card as they can potentially avoid high-interest rates often associated with other credit cards. Understanding the card’s APR range, offers, and rewards structure will be crucial in determining its suitability for a wide range of consumers.
BECU Credit Card Overview
BECU Visa Credit Card
The BECU Visa Credit Card is a low-cost credit card option for members of the Boeing Employees Credit Union (BECU). With its competitive APRs, the BECU Visa Credit Card’s purchase APR varies between 11.74% and 23.74%. Furthermore, the card is an attractive choice as it does not charge an annual fee or a balance transfer fee.
Cardholders can enjoy a 0% introductory APR for 12 months on purchases, followed by a regular APR that starts at 7.99% (variable). The BECU Visa Credit Card is an excellent choice for those looking to borrow with minimal costs and enjoy a low-maintenance card experience.
Requirements to Apply
To apply for the BECU Visa Credit Card, you must qualify for membership in the Boeing Employees Credit Union. BECU membership is available to:
- Current or former employees of the Boeing Company and its affiliated partners
- Employees of other businesses that partner with BECU
- Members of participating associations or schools
- Immediate family members or roommates of existing BECU members
Your credit score should fall within the range of 630-850 for higher chances of approval. Additionally, BECU Visa Credit Card applicants should meet the minimum criteria set by the credit union regarding income, employment status, and financial stability.
Applicants should keep in mind that BECU evaluates various factors to determine approval, and meeting the minimum requirements does not guarantee the approval of the credit card application.
Rates and Fees
APR Rates
The BECU Visa credit card offers a variable APR ranging from 12.24% to 24.24%. This range depends on your creditworthiness and can change over time. There is also a 0% introductory purchase APR for the first 12 months after opening the account.
For balance transfers, the card provides a 0% introductory APR for the first 12 months, before switching to the regular variable APR of 7.99%.
Annual Fee
The BECU Visa credit card has the advantage of no annual fee. This helps cardholders save money and makes the card an attractive choice for those looking to keep their costs low.
Balance Transfer Fees
One of the benefits of the BECU Visa credit card is the absence of balance transfer fees. This means that cardholders can transfer their existing balances to the BECU Visa card without incurring additional fees, making it an appealing option for those looking to consolidate their debt.
Cash Advance Fees
The Cash Advance APR for the BECU Visa credit card is set at a 24.24% variable rate. It’s essential to be aware of the higher interest rate for cash advances, as they can accumulate substantial charges over time.
Foreign Transaction Fees
Another benefit of the BECU Visa credit card is the lack of foreign transaction fees. This makes the card a suitable choice for travelers, allowing them to make purchases overseas without worrying about additional charges.
In summary, the BECU Visa credit card offers competitive APR rates, no annual fee, no balance transfer fees, and no foreign transaction fees. However, it’s crucial for cardholders to be mindful of the higher cash advance APR and assess their spending habits to make the most of these benefits.
Rewards and Benefits
Cash Back Rewards
The BECU Cash Back Visa credit card allows you to earn 1.5% unlimited cash back on your purchases, with no annual fee. This competitive rewards rate can help you accumulate cash back quickly while enjoying the benefits of your card.
Travel and Emergency Services
With your BECU Visa credit card, you’ll have access to travel and emergency services, giving you peace of mind during your trips. These benefits include travel accident insurance, roadside dispatch assistance, and travel assistance services, helping you feel protected while traveling.
Extended Warranty Protection
BECU’s Visa credit card offers extended warranty protection on your purchases. This feature provides extra coverage, adding security to your buying decisions. If an eligible item you purchase with your BECU Visa card comes with an original U.S. manufacturer’s warranty of three years or less, the warranty may be doubled for up to one additional year.
Roadside Dispatch
In case you encounter vehicle trouble while on the road, the BECU Visa credit card provides access to their roadside dispatch service. This complimentary service helps you with towing, jump-starting your battery, fuel delivery, and more. This benefit ensures you have help when you need it most.
Card Designs
As a nod to Washington State pride, the BECU Visa credit card offers several card design options. You can choose between different designs to personalize your card and show off your state pride.
To enjoy these rewards and benefits, keep in mind that the regular variable APR is 7.99%, while the introductory purchase APR is 0% for the first 12 months. After the first year, you also have the opportunity to upgrade to the BECU Rewards program at a $25 annual participation fee. This program allows you to earn one point for every dollar spent on qualifying purchases, which can be redeemed for travel, gift cards, merchandise, or even cash back.
Credit Score and Application Process
Credit Score Requirements
When applying for a BECU Visa credit card, your credit score plays a crucial role in the approval process. Although an exact credit score requirement isn’t provided, it is generally recommended to have a good to an excellent credit score to increase your chances of approval. This means a credit score range of approximately 670 and above. Keep in mind that credit unions like BECU may also consider factors such as your overall credit history and income when evaluating an application.
Application Process
The application process for the BECU Visa credit card can be done conveniently online. To begin the application, applicants must first become a member of the BECU credit union. This step involves providing personal information, verifying your identity, and opening a savings account with a minimum of $5.
Once you have established your membership, you will be able to proceed with the credit card application process. The application form requires details regarding your:
- Personal information (e.g., name, date of birth, Social Security number)
- Contact information (e.g., address, phone number, email)
- Employment status and income
- Monthly rent or mortgage payment
- Information on any existing loans or credit cards
After submitting your application, BECU will review your credit score, financial history, and other factors to determine your eligibility for the BECU Visa credit card. The decision could take a few days or weeks, depending on the credit union’s processing time. Once approved, you’ll be notified of your credit limit and can start using your new BECU Visa credit card for purchases, enjoying the benefits it offers.
Customer Experience and Service
Customer Support
BECU offers customer support services to address various concerns of its Visa credit card users. Although some customers have reported unpleasant experiences with rude representatives, it remains essential to consider that individual experiences may vary. Credit card users can reach out to BECU’s customer service through phone and email for assistance regarding their account, payments, or any other inquiries related to their credit card.
Online and Mobile Banking
The BECU Visa credit card also offers convenient online and mobile banking options, enabling users to manage their accounts seamlessly. The BECU mobile app is rated 4.5/5 on the Google Play Store and 4.8/5 on the Apple Store, indicating positive user experiences and easy navigation. Through the app, cardholders can efficiently apply for a new card, monitor transactions, pay bills, and even access their savings account.
Explicitly designed for credit unions, the BECU mobile app helps users get the best customer experience by providing them with full access to their credit card account and financial management services.
Locations and Eligibility
Geographical Locations
BECU (Boeing Employees Credit Union) primarily serves residents in the Washington State region. However, they also extend their services to customers in Idaho and Oregon. As a credit union, BECU offers membership-based financial services, including the BECU Visa Credit Card.
University Affiliations
In addition to geographical locations, BECU has affiliations with some universities. These affiliations allow university staff, students, and alumni to be eligible for the BECU Visa Credit Card and other financial services. Two of the prominent affiliated universities are University of Washington (UW) and Washington State University (WSU).
Frequently Asked Questions
What are the requirements?
To apply for a BECU Visa credit card, you must be at least 18 years old and have a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). Additionally, you need to be a BECU member, which requires opening a BECU savings account with a minimum deposit of $5.
Which card is better?
When comparing the BECU Visa credit card to other low interest rate cards, it stands out due to its low APR, minimal fees, and member-focused approach. However, the best card choice depends on an individual’s financial needs, spending habits, and credit score.
Minimum credit score?
The recommended credit score for the BECU Visa credit card is 630-850, which is considered average to excellent.
Credit limit info?
BECU determines your credit limit based on factors such as your credit history, income, and debt-to-income ratio. It is important to maintain a responsible use of credit to potentially receive higher credit limits in the future.
Pre-approval process?
Although BECU does not offer an online pre-approval process, you can apply for the BECU Visa credit card online, by phone, or in person at a local branch. If you have concerns about your eligibility, it may be best to consult with a BECU representative before applying.
Card benefits?
The BECU Visa credit card offers a variety of benefits, including an introductory 0% APR for 12 months on purchases and balance transfers, no foreign transaction fees, no annual fees, and no cash advance fees. As a BECU member, you also gain access to additional financial services and member-exclusive offers.
