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There are several Visa credit card levels with different benefits and rates. Your bank or credit union might be offering a Visa Platinum Card advertising competitive interest rates, a rewards program, or the chance to build a credit history. Here’s a look at how hard it is to get a Visa Platinum Card.
Best Visa Platinum Available
What is a Visa Platinum Card?
The Visa Platinum platform is an entry-level product in the United States that the card issuer is merging into the Visa Traditional tier. Thus, Visa Signature is the mid-level offering and also the most common type of Visa credit card. Finally, the Visa Infinite label is for premium credit cards.
While you won’t Visa Platinum listed on the United States Visa website, several banks and credit unions still accept new applications for a Visa Platinum product. However, it is likely to be a Visa Traditional offering with basic benefits and a potentially low credit limit.
Going beyond the United States, Visa Platinum is the third of five tiers in Canada. Other countries may also offer a Platinum product.
You can verify with the bank you apply through about which type of Visa credit card you are applying for. If already approved, you can look at the Visa logo that with either say Visa, Visa Signature, or Visa Infinite.
For example, one of my oldest credit cards has been a Visa Platinum product for the majority of the 15 or more years it’s been open. But, I recently noticed that a replacement card only has the “Visa” logo stamped on it which implies it’s merged into the Visa Traditional tier.
Related: Visa Platinum or Visa Signature: Which is Better?
Visa Platinum Credit Limit
The minimum Visa Platinum credit limit is $1,000, and it can be as high as $25,000. In comparison, a Visa Signature has a minimum $5,000 limit and no maximum limit.
Related: What Credit Cards Offer the Highest Credit Limit?
Visa Platinum Interest Rate
A Visa Platinum credit card can have a lower minimum APR than Signature cards. For example, the Visa Platinum APR is as low as 10.99% while the Visa Signature APR starts at 12.50% through Signature FCU (rates current as of October 4, 2023).
Several factors determine your ongoing APR. You will need excellent credit to qualify for the minimum APR. Many applicants may qualify for the average credit card interest rate which is around 21% for existing accounts.
Related: Do You Pay Interest On Credit Cards When You Pay Your Balance in Full?
Credit Score for the Visa Platinum
You will usually need good or excellent credit to get a Visa Platinum Card that doesn’t require a security deposit. That means a minimum 660 credit score, although some starter credit cards with a Visa label accept a fair credit score in the low or mid-600s.
A secured credit card can be a Visa Traditional product. These cards don’t require a credit history, but you must make an upfront security deposit. Historically, secured credit cards are not a Platinum product which guarantees a minimum $1,000 initial spending limit.
Currently, most credit cards for fair credit scores are Mastercard products.
Best Visa Platinum Credit Cards
Here are some of the best credit cards that may sport a Visa Platinum label.
Chase Freedom Unlimited
The Chase Freedom Unlimited® is usually a Visa Signature product, but less-qualified applicants may receive a Visa Traditional product instead. You can enjoy the same purchase rewards of at least 1.5% back on purchases and flexible redemption options.
However, the Visa-issued additional benefits such as travel and purchase protection, are less extensive for Platinum cardholders.
Related: The Best Chase Credit Cards
U.S. Bank Visa Platinum Card
The information for the U.S. Bank Visa® Platinum Card has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
The U.S. Bank Visa® Platinum Card is ideal for 0% APR balance transfers. Qualifying transfers and purchases are eligible for an introductory 0% interest rate for the first 21 months before the ongoing APR kicks in.
There is no annual fee. You won’t earn purchase rewards, but it’s an easy way to pay less interest while getting out of credit card debt.
Related: The Best U.S. Bank Credit Cards: Travel, Cash Back, Business, and More
Chase Freedom Rise
The information for the Chase Freedom Rise℠ has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
The Chase Freedom Rise℠ gives college students and working adults needing a first credit card the chance to earn 1.5% back on purchases and establish a credit history. New cardholders can earn a $25 statement credit by signing up for automatic payments within the first three months to avoid missing a monthly payment.
It’s possible to qualify for a credit limit increase after the first six consecutive on-time monthly payments.
This card doesn’t disclose a minimum credit score, but Chase Bank states that having a Chase checking account with a minimum $250 balance improves your approval odds. There is a $0 annual fee.
Related: Does Chase Have Free Checking For College Students?
Wells Fargo Reflect Card
The Wells Fargo Reflect® Card is another excellent balance transfer credit card, although you will need good or excellent credit to qualify. The 0% intro APR lasts for the first 21 months from account opening on purchases and qualifying balance transfers.
This card also offers up to $600 in cell phone protection and doesn’t have an annual fee. There are no purchase rewards categories.
Learn more: Balance Transfer Credit Cards
Upgrade Card
The Upgrade Card is available with a credit score as low as 580. There are several card versions with different rewards programs, so you can prequalify without a credit check to compare your options.
A common benefit between each card is the ability to pay off your balance like a personal loan with fixed monthly payments and a preset repayment period. This feature requires a higher minimum monthly payment than a standard card, but you can pay less interest overall.
If you qualify for one of the three that earn purchase rewards, they deposit as a cash statement credit each month to reduce your statement balance.
This product doesn’t have an annual fee and is one of the easiest credit cards to qualify for. The ease of access is good if you have thin credit and need to increase your spending power and increase your score with on-time payments to eventually qualify for the best credit cards.
Summary of How Easy is it it Apply for Visa Platinums?
Visa Platinum and Visa Traditional credit cards can be easier to qualify for than Visa Signature or Visa Infinite products as the minimum credit limit is lower, and there are fewer additional benefits. However, the credit requirements differ by bank. Additionally, it’s still fairly common to need good or excellent credit which is similar to the best rewards travel cards that are usually a Visa Signature product.
