Altura Credit Union

Based out of Riverside, California, Altura Credit Union seeks to bring the power credit to its members with three different credit card options. As a credit union, Altura offers competitive percentage rates, low late fees, no annual fees, and flexible payment options to assist its members in meeting their financial goals.

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The Good

• Three card options
• No annual fees
• Low late fees
• Skip a payment

Three Card Options

Altura Credit Union offers three different credit card options for potential cardholders to choose from and qualify for. The Platinum Preferred, Platinum, and Classic all have varying benefits and come with different annual percentage rates and credit limits. Each card comes with no interest for 25 days on balance transfers, no annual fees, rates starting at 9.24 percent, and purchasing power worldwide.

No Annual Fees

All three credit card options offered by Altura Credit Union come with no annual fees. The only requirement is that the cardholder remains a member of the credit union.

Low Late Fees

Many credit card companies charge a fee as a penalty for late payments. These fees can range upwards of $30. With all three credit card options from Altura Credit Union, the late fee is only $10.

Skip A Payment

All Altura credit cards come with a very unique option. The Skip-a-Pay program allows cardholders to skip a payment in the months of January, August, and September. During these months, cardholders can choose to pay their monthly payment or can opt out of payment till a later date. This option is available only once per year and does not come with a fee. To schedule a Skip-a-Pay month, cardholders simply need to call the company and schedule the skipped payment.

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The Bad

• No rewards program
• Penalty APRs and transaction fees
• No monthly credit scores

No Rewards Program

Many credit card options today come with some sort of rewards program. Oftentimes, these programs include a cash back or rewards option where members can use their spending benefits and exchange them for something of worth. At this time, none of Altura's credit cards include a rewards program for cardholders to participate in.

Penalty APRs and Transaction Fees

There are a range of transaction and penalty fees associated with all three Altura credit cards. These include fees for foreign transactions, cash advances, and balance transfers ranging from 1 to 3 percent. Penalties for late and returned payments range from $10 to $29, and a penalty of change in annual percentage rates could also happen if late or returned payments become consistent. These changes could potentially increase an APR to near 20.24 perecnet until six consecutive minimum payments are completed on time.

No Monthly Credit Scores

Many credit card companies will provide a monthly view of a credit score report to their cardholders. These reports help cardholders better understand where their credit history stacks up in comparison of others and look for areas where they can improve. However, at this time, Altura's credit cards do not include a monthly credit score report. If potential cardholders desire this information, they will need to seek after it from a third party.

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The Bottom Line

Potential cardholders looking for a credit card with a credit union that offers three different card options with varying annual percentage rates will enjoy Altura's credit card options. With no annual fees, lower-than-average late fees, and benefits like the ability to skip a payment at certain times of the year, this credit card options helps cardholders have access to a line of credit without the worry of extensive fees. Those looking for a credit card with a rewards program that provide a cash back or points system inventive to redeem rewards will need to look elsewhere, as Altura's credit cards do not offer rewards programs at this time. Additionally, if potential cardholders are seeking monthly credit scores or are afraid of their rates being raised for late payments, they may want to seek out other options.