Credit Cards

Platinum Credit Card

MIT Federal Credit Union's Platinum Visa® credit card provides greater spending power and a competitive rate for everyday purchases.

Apply here.

  • Credit limits from $500 - $15,000
  • Variable rate starts at 9.99% APR**
  • Offers convenience and security
  • No annual fee

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Onyx Smart Rewards Credit Card

Accumulate rewards points quickly with every purchase on your Onyx Smart Rewards Visa® and redeem them for valuable merchandise, travel and much more.

Apply here.

  • Credit limits up to $25,000
  • Variable rate starts at 12.99% APR*
  • Earn rewards points with purchases
  • No annual fee

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MIT Alumni Credit Card

MIT alumni deserve a higher degree of spending flexibility, and the MIT Alumni Visa® delivers it with a competitive rate and rewards program.

Apply here.

  • Credit limits up to $25,000
  • Variable rate starts at 12.99% APR*
  • Earn rewards points with purchases
  • Purchases support programs at MIT
  • No annual fee

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All 3 Cards Feature Peace of Mind Technology 

MIT Federal Credit Union credit cards include the enhanced security of an EMV chip. EMV chip cards contain an embedded microchip that is extremely difficult to duplicate. Chip-enabled cards do everything magnetic strip cards do but even more securely, so MIT Federal Credit Union cardholders will continue to benefit from the convenience and rewards of our cards, with the added security of EMV technology. 

If you have any questions, please call 617-253-2845 or toll-free at 855-648-2848, or email us at mitfcu@mit.edu. To read more about Visa chip-enabled credit cards, click here.

What is EMV?
EMV, which stands for Europay, Mastercard and Visa, is the functionality contained in the small microprocessor “chip” which is embedded in the card plastic itself. This creates what is referred to as “smart cards” or “EMV cards” or “chip cards” – which all refer to the same type of card. 

How is a chip-enhanced card different from a magnetic stripe card? 
A chip-enhanced card contains an embedded microchip. The chip holds encrypted information, making it extremely difficult for the card to be copied or counterfeited. Rather than swiping the card, you will insert your card into a chip-enabled terminal to complete a transaction. In addition to the embedded microchip, the chip-card has a magnetic stripe on the back, and purchases can still be made by swiping the card at merchants that have not yet switched to chip-enabled terminals. 

Are chip cards new?
Although chip cards are relatively new in the U.S., they have been used in other countries for many years. In some countries, particularly in Europe, chip cards are the standard.

Why was my card replaced with a chip card?

  • Replacing your card with a new chip-enhanced card is one way we can help simplify your purchase experience as technology continues to change.
  • We value your financial security. Your new card comes with advanced security because the chip technology makes it difficult for a fraudster to counterfeit your card.


Where can I use my chip card? 
Use your chip card at the exact same merchants you do now, by inserting the card into terminals that are chip-enabled or swiping your card at merchant locations that have not yet switched to chip-enabled terminals. You can also continue to use your card as you do currently for online and telephone payments. 

What are the benefits of a chip card?

  • Advanced security due to the chip technology that makes it nearly impossible for a fraudster to counterfeit your card.
  • Ability to make payments at terminals outside of the U.S. where chip cards are the standard.


What should I do with my existing card?
Once you have activated your new card, please destroy your existing card.

*APR = Annual Percentage Rate. Your APR will initially be determined by your creditworthiness at the time of application. The ANNUAL PERCENTAGE RATE is subject to change on the first day of the billing cycle quarterly to reflect any change in the Index and will be determined by the Prime Rate ten (10) days prior to the first day of the month of the new quarter of each year as published in The Wall Street Journal “Money Rates” table to which we add a margin. The ANNUAL PERCENTAGE RATE will never be greater than 18.00%. Any increase in the ANNUAL PERCENTAGE RATE will take the form of additional payments shown as Total Minimum Payments on the statement. If the Index is no longer available, the Credit Union will choose a new index which is based upon comparable information. A 1.00% finance charge applies to all foreign transactions.

**APR = Annual Percentage Rate. The ANNUAL PERCENTAGE RATE is subject to change on the statement cycle date of each quarter (January, April, July & October) to reflect any change in the Index and will be determined by the Prime Rate ten (10) days prior to the first day of the first month of the new quarter found in The Wall Street Journal “Money Rates” table plus 5.74%. Any increase in the annual percentage rate will take the form of additional payments shown as Total Minimum Payments on the statement. If the Index is no longer available, the credit union will choose a new index which is based upon comparable information.The APR will never be greater than 18%. 1% finance charge applies to all foreign transactions.