First Command Bank may not be as well-known as other major banking institutions in the US, but the bank provides a variety of options when it comes to personal and commercial banking options. First Command Bank credit cards are available for personal as well as business usage, and each come with its own set of key points, benefits, and perks. First Command Bank is a new online banking institution, with one branch office located in Fort Worth, Texas.
Types of First Command Bank Credit Cards
First Command Bank credit cards are available for personal as well as business use. The most popular personal First Command Bank credit cards include:
• Classic Visa credit card
• Platinum Visa credit card
While First Command Bank credit cards – when it comes to business use that is – don’t exactly behave like a credit card, the debit MasterCard does offer flexibility and convenience, allowing cardholders to access up to $2,500 daily from a First Command account when making point-of-sale purchases, as well as up to $500 daily in cash withdrawals from the account at major ATM networks.
The credit limits attached to the First Command Bank credit cards depend on the card you apply for, and are based on credit history and credit worthiness. The Platinum Visa card comes with a minimum credit limit of $5,000 while the classic Visa card comes with a minimum credit limit of $200.
Benefits attached to First Command Bank credit cards depend on the type of card you have. The Classic Visa card offers the free Scorecard Rewards program, where cardholders can earn points that are redeemable for hotel stays, air travel, cruises, vacation packages, rental cars and merchandise.
The Platinum Visa card offers a similar low and variable APR plus 3% primary rate on purchases, balance transfers and cash advances, similar to the Classic Visa card. This credit card also utilizes the free Scorecard Rewards program, redeemable for the same options as offered with the Classic Visa card.
Annual Percentage Rates and Fees
First Command Bank credit cards offer low variable rates plus prime. For example, the Classic Visa with Scorecard Rewards has an APR of 10.25%, while the Platinum Visa Scorecard Rewards card offers a 6.25% variable rate. Basically, the Classic Visa offers variable rate plus 7% prime, and the Platinum Visa offers a variable rate with 3% prime. Unfortunately, there isn’t a lot of information regarding additional rates and fees of First Command Bank credit cards on their website, so consumers may need to contact customer service to have additional questions answered.
Neither the Classic Visa nor the Platinum Visa First Command Bank credit cards charge annual fees. The website for First Command Bank credit cards states that the Visa credit cards are not subject to discounts. The Classic Visa card does not charge for over-the-limit fees, balance transfer fees, or online account access fees, and neither does the Platinum Visa.
The First Command Bank is an online banking service, so be prepared, unless you live in Ft. Worth, Texas, to business over the phone or the computer.