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?
- You’re supporting local businesses, in this case you’re supporting USC Credit Union.
- 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)
- Many offer amazing balance transfer and/or even 0% introductory apr.
- 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?:
- 0% APR for your first 15 billing cycles for purchases & balance transfers (fees apply) made within 6 months of opening your account.
- $1 spent = 1 point
- $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.)
- No annual or foreign transaction fees
- 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