Review of the USC Credit Union’s Platinum Rewards MasterCard (2017)

Small change of pace, recently we’ve been looking at larger bank’s credit cards, now we’ll look at a credit union’s credit card.

Why would you pick credit union’s credit card over a large bank’s?

1. You’re supporting local businesses, in this case you’re supporting USC Credit Union.
2. Some offer really good rewards programs, in the case of this credit union you get 2 points per $1 spent on fuel or groceries. (Note this only applies to the first $5,000 in purchases in their case per year)
3. Many offer amazing balance transfer and/or even 0% introductory apr.
4. In general, you’ll get a lower variable apr, in this case 10.65% to 17.65%. Compare that to 24.99% at larger banks such as Capital One.

What are the benefits of this specific card?:

1. 0% APR for your first 15 billing cycles for purchases & balance transfers (fees apply) made within 6 months of opening your account.
2. $1 spent = 1 point
3. $1 spent on fuel & grocery = 2 points (Fuel and grocery bonus points apply to the first $5000 in purchases in these combined categories each year.)
4. No annual or foreign transaction fees
5. Card-linked bonus point offers (similar to Discover Deals) – shop local and national merchants in-store or online and automatically earn bonus points just for using your rewards card.

Is this card worth it?:

This might be your cup of tea if you like supporting local/small businesses. They do offer 15 months of 0% intro apr on purchases/balance transfers made during the first 6 months, so that’s a nice bonus if you have a big purchase coming up. Unfortunately their rewards program is lacking, but it’s still better than a non existent rewards program.  I would not recommend getting this card, unless their introductory apr offer (or even their variable apr) fits your needs.

If you wish to apply go here: https://www.usccreditunion.org/products/platinum-rewards-mastercard/

Want to learn what’s the difference between a credit union and a bank?: https://www.mycreditunion.gov/about-credit-unions/Pages/How-is-a-Credit-Union-Different-than-a-Bank.aspx

Tags: Small Business, USC Credit Union, 0% intro apr, 0% balance transfer