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NASA Federal Platinum Advantage Rewards Credit Card review
Kevin Joey Chen is a credit cards writer at finder.com. He's passionate about helping you get your finances in order and travel the world like a pro. He's taken an extended trip around Europe as a digital nomad, gaining firsthand experience with exchange rates, ideal (and not-so-ideal) credit and debit cards, foreign transactions and budgeting strategies. He earned his BA from UC Davis and has written across many niches at Finder, including cryptocurrency, personal loans, car insurance, real estate and money transfers.
Many cards offer a 0% intro APR on balance transfers. The problem is, you get that rate only for a certain period — say, 15 months. After that, your transferred balances start accruing interest at a high rate.
The NASA Federal Platinum Advantage Rewards Credit Card plays the game a bit differently. Instead of ending your special APR on balance transfers after a year or two, it gives you the same low rate of 7.9% fixed APR forever. The only catch is you must make your transfers within lifetime of the balance after you open your card.
Because of its lower-than-average APR, the card may be a good choice if you want to pay off balances over a very long time. It’s easy to transfer your debt, too, as NASA Federal Credit Union charges $0 balance transfer fees.
Should you get the NASA Federal Platinum Advantage Rewards Credit Card?
If you want 0% intro APR on balance transfers, look for another card. There are plenty of products with excellent introductory interest rates.
If you want a card with a relatively low intro APR on balance transfers and no balance transfer fees, the NASA Federal Platinum Advantage Rewards Credit Card may be the card for you.
A $0 annual fee makes it easy to keep the NASA Federal Platinum Advantage Rewards Credit Card card long term.
7.9% fixed APR on balance transfers made within the first 90 days.
At first glance, this intro APR on balance transfers isn’t as attractive as the 0% you’ll find with many other cards. But this rate is valid for the life of any balance you transfer within the first 90 days.
With many balance transfer cards, you’d get 0% APR on your balance transfers for 12 to 18 months. After that period, the balances would start accruing interest at a high rate — often more than 16%. With the NASA Federal Platinum Advantage Rewards Credit Card, you could keep a transferred balance for years and still have a 7.9% fixed APR on it.
No balance transfer fees.
Depending on how much you want to move to the NASA Federal Platinum Advantage Rewards Credit Card, this could be a great perk. Most cards charge 3% of the transfer amount in fees. So, if you transferred $8,000, you’d pay a fee of $240.
If you transferred the same amount to the NASA Federal Platinum Advantage Rewards Credit Card, you’d pay $0.
Earn points on every purchase.
You’ll earn 1 point per dollar you spend on all purchases. Redeem points for travel and merchandise.
It’s nice to have rewards, but you’ll earn more with other cards. For example, the Citi® Double Cash Card offers 1% cash back on purchases when you buy, and another 1% when you pay your bill.
Depending on your credit score, you may qualify for a purchase APR as low as 11.9% variable.
No foreign transaction fees.
No over-the-credit-limit fee.
Car rental insurance.
24-hour travel and emergency assistance.
Extended warranty program.
Card Fraud Alert text service to notify you of suspicious transactions.
How does a balance transfer work with this card?
You can make a balance transfer when you open your credit card. If you don’t want to, you can request one later.
To make a balance transfer, you’ll need the account number of your existing balance. You’ll also need personal information like your income, employment details and Social Security number.
You’ll pay $0 fee to make a balance transfer.
NASA Federal Credit Union offers an introductory 7.9% fixed APR, but only on transfers you make within the first lifetime of the balance of opening your card. Balance transfers after that time are subject to a variable APR between .
If you’re unsure whether your balance transfer will qualify for the introductory APR, contact NASA Federal Credit Union support.
If your balance transfer qualifies, you’ll pay 7.9% fixed APR on the balance for as long as you remain a cardholder.
Though 7.9% is lower than the average credit card APR, it’s not an extremely low interest rate. If you keep a balance on your card for a long time, the interest adds up. Consider creating a plan to pay down your debt.
Penalty APR. NASA Federal Credit Union may apply a penalty APR of
to your account if you make a late payment. This rate will apply until you make six consecutive on-time payments.NASA FCU’s penalty APR is much lower than that of other credit card providers, as it’s not uncommon to see one above 25%. Still, don’t be afraid to compare other credit cards if you don’t like penalty APRs. There are plenty of providers that don’t charge them, like the KeyBank Latitude® Credit Card.
What to know before you apply
To apply for the NASA Federal Platinum Advantage Rewards Credit Card, you must be at least 18 years old.
You must also be a member of the NASA Federal Credit Union. To join, you must meet one of these requirements:
You’re an employee or retiree of NASA Headquarters, a NASA Center or Facility, or National Academy of Sciences.
You’re an employee or member of a NASA Federal Credit Union partner.
You’re a relative or household member of a current NASA Federal Credit Union member.
If none of those apply to you, you can ask for a complimentary membership to the National Space Society (NSS). Your NSS membership makes you eligible for the NASA Federal Credit Union.
Information you’ll need
Your full name and contact information.
Your residential status.
Your annual income, source of income and employment information.
Your Social Security number.
What credit score do I need?
You’ll have a better chance of being approved for this card if you apply with a good to excellent credit score of 670 to 850.
How to apply for the NASA Federal Platinum Advantage Rewards Credit Card
1. Go to the NASA Federal Credit Union website and click Apply Now. 2. Select the Platinum Advantage Rewards card. 3. Complete the application with details like your name, address, annual income and Social Security number. 4. Review and submit your application.
Typically, a credit card provider will make a decision on your application within 7 to 10 days. In some cases, your application may be approved immediately.
If there are issues with your application, you may need to wait up to a few weeks to hear back.
I got the card. Now what?
Make timely payments. Pay your bill online at the NASA Federal Credit Union website, where you can enroll in autopay.
Avoid interest. After the close of each billing cycle, you have a grace period of at least 25 days to pay your balance. If you do, you won’t pay interest on your purchases.
Avoid fees. Late and returned payments come with fees of up to $35. Cash advances also come with fees.
Contact customer service. If you have questions, contact NASA Federal Credit Union at 888-627-2328.
The NASA Federal Platinum Advantage Rewards Credit Card is unique because it offers a 7.9% fixed APR on balance transfers forever, as long as you make them within the first lifetime of the balance. It also offers no balance transfer fees. If you envision paying off your debt over a very long period of time, the card may be a good choice.
However, if you’re not certain that this is one of the best no annual fee credit cards you can get, keep looking until you find the one that’ll compliment your financial lifestyle most.
Frequently asked questions
You’re more likely to qualify for a low APR if you have a good credit score of 670 or more.
A balance transfer card can be useful if you’re paying heavy interest on your current credit card. You can move your existing balance to another card that offers low or no interest for a period of time. This can help you pay off your debt faster and more cheaply. What is a balance transfer?
Credit union credit cards tend to have lower ongoing interest rates and annual fees than those provided by larger financial institutions.
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