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This article was last updated Sep 15, 2014, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.
Students heading off to college (and their parents, for that matter) may want to consider signing up for a First Citizens Visa Platinum Credit Card beforehand, because those who carry this plastic are eligible for free cell phone protection insurance.
The First Citizens Visa Platinum Credit Card offers some other interesting and attractive features not always found on other cards. Plus, by carrying this card you not only enjoy cell phone protection, but you are automatically enrolled in a program to help earn free air travel.
First Citizens Visa Card Rates & Fees
- No annual fee
- Foreign transaction fee is 2% per transaction
- Cash advance fee of $3 or 3% of the amount of each cash advance, whichever is greater ($100 max)
- 10.15% APR for purchases and balance transfers
- 10.15% APR for each cash advance
- No balance transfer fee
What I immediately liked about this card was the very low fee structure. An APR of just 10.15% is a very attractive interest rate for any credit card in today’s economy, and is less than half of what many major credit card companies charge. This card comes with no balance transfer fees, another uncommon perk with credit cards, and a lower fee for cash advances, which is usually $10 or 5% per transaction (whichever is greater).Credit cards with no annual fee are abundant, but it’s still an attractive feature that adds to the allure of this particular card.
Cell Phone Protection Insurance
One of the most admired perks of this card is the complimentary cell phone protection you get if you pay your monthly cell phone bill with your First Citizens Visa Platinum Credit Card. No enrollment or additional cost is necessary and protection begins the first day of the calendar month following your first cell phone payment with your First Citizens card.
If you already have a First Citizens Visa Credit Card, simply pay your monthly cell phone bill each month to start taking advantage of this benefit. You can also wisely avoid incurring finance charges on these monthly bills by paying the amount of the bill charged in full each month.
The protection covers your primary line and up to the first two additional lines listed on your provider's monthly statement. Every cell phone protection policy comes with rules and stipulations, so it would be wise to familiarize yourself with them to know what is and isn’t covered, and how to file a claim. For complete details, please read the First Citizens Visa Guide to Benefits (pg. 4-5).
Another perk is automatic enrollment in the First Citizens QuickPoints Program. All cardmembers are eligible and there is no fee to participate. The details of this program include:
- Cardholders earn 1 QuickPoint per $1 spent in net purchases
- No points are earned on cash advances, balance transfers, fees or checks
- You may accumulate only 10,000 QuickPoints per billing cycle, or 100,000 QuickPoints per 12-month period
- QuickPoints are valid for 3 years until they expire
Cardholders of the First Citizens Visa Credit Card also have the option to enroll in the premium BankMiles Travel Program. Some of the programs features include:
- Receive 1,500 bonus points for enrolling
- Earn one point for every $1 you charge in net purchases to your card
- Fly anywhere, any time, with no blackout dates
- Points can be used for gas, restaurant, hotel, and car rental vouchers and gift cards
- Earn a $100 flight discount for every 7,000 points you accumulate
- Earn a round-trip flight anywhere in the United States with 35,000 points
There is an annual fee to enroll in the program, which is $39. It is important to note that enrolling in the BankMiles program automatically terminates current enrollment in the QuickPoints program, and any points accumulated in the QuickPoints program will be forfeited. There is a maximum ticket price value of $1,000 for a flight earned under the program.
The Bottom Line
There are many credit cards, which offer perks, benefits, and rewards or cash-back programs. The trick is to find the card that best matches your financial goals, lifestyle, and spending patterns.
Although there are many other cards to consider, for some people this particular card will be a good choice and deliver real value – especially if they want free cell phone protection and a low APR with no balance transfer fees.
I would personally recommend skipping the $39 a year rewards program, though, and sticking with the version of the card that has no annual fee. If earning robust travel rewards is a high priority, then shop for an airline or airmiles credit card that has fewer restrictions and faster opportunities to accumulate miles.
To learn more information or to apply for the First Citizens Visa Platinum Credit Card, you may apply here.
*Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.