Platinum Edition® Visa® Card
- Best for: Flagstar customers moving debt from another bank’s card that they can pay off within 18 billing cycles
- What Sets It Apart: 0% on balance transfers made any time in the intro period, not only the first 60 days; no penalty APR
- Cost: $0 annual fee; 0% on purchases and balance transfers for 18 billing cycles; 16.99% to 26.99% variable APR after the intro; 5% balance transfer fee ($10 minimum); 3% foreign transaction fee; late fee up to $40
- Features: Issued by FNBO; offer only through Flagstar’s card page
- Pros: 0% on purchases as well as transfers; no annual fee; no penalty APR
- Cons: 0% for 18 billing cycles, against 0% for 21 billing cycles on the U.S. Bank Shield Visa; no transfers from FNBO cards, Flagstar’s included; no rewards
Get the Platinum Edition® Visa® Card if you’re a Flagstar customer with card debt you can pay off within its 0% period of 18 billing cycles. Each transfer costs 5%, and debt on another Flagstar card can’t move here. If you need more time, some national banks’ cards give three more billing cycles at 0% for the same fee.
Flagstar no longer offers its old Visa Platinum card, and the Platinum Edition is the card it now pitches for consolidating debt or paying off a big purchase over time. First National Bank of Omaha (FNBO) issues it, as it does every Flagstar credit card, and sets your rate and credit limit when you apply.
Key Features
- No annual fee
- 0% interest on purchases and balance transfers alike for 18 billing cycles after opening, then a variable rate of 16.99% to 26.99% set by your creditworthiness
- A 5% fee on each balance transfer, $10 minimum, so moving $5,000 costs $250
- Late fee of up to $40
- Offer good only when you apply through Flagstar’s card page
Pros
- 0% on balance transfers made any time in those 18 billing cycles, not only in the first 60 days, so you can move a second balance later
- No penalty interest rate, so a late payment won’t raise your rate
- Purchases get the same 0% period as transfers
Cons
- 0% for 18 billing cycles, against 0% for 21 billing cycles on the U.S. Bank Shield Visa
- No transfers from cards FNBO issues, including a Flagstar card you already carry
- Transfers capped at the part of your credit limit FNBO allows for them, which can be less than the full limit
- No rewards on purchases
- 3% foreign transaction fee
It suits Flagstar customers moving debt from another bank’s card, as long as they can clear the balance before the 0% ends. Debt that needs more than 18 billing cycles to clear belongs on the U.S. Bank Shield Visa instead, whose 0% covers balances moved in its first 60 days for the same 5% fee.
Learn more about the Platinum Edition® Visa® Card or see how it compares to the best balance transfer credit cards.
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