Posted by William Charles on December 31, 2014
Credit Cards

Published on December 31st, 2014 | by William Charles

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CCU – Cash Rebate Card Review $100 Bonus + 3% Cash Back On Grocery Store Purchases

Consumer Credit Union offers a card called the Visa Signature Cash Rebate Card which currently offers a $100 sign up bonus and 3% cash back on “Grocery/Convenience Store” purchases. I thought I’d be a good idea to do a mini review of this card given all the recent Old AmEx Blue shut downs and the fact they’ve now limited you to $50,000 in purchases per year.

[Read: Best credit card for grocery expenses]

enjoy a 3-2-1 cash bonus

Key Selling Points

  • $100 sign up bonus
  • 3% cash back on all grocery & convenience store purchases
  • No annual fee

Earning Rates

The platinum card earns at the following rates:

The rebate is automatically deposited into your account each month. There is a limit of $6,000 in rewards that you can earn annually, which means you could spend up to $200,000 on grocery/convenience store purchases. Update: Starting in January 2016, the max is much lower.

Sign Up Bonuses

This card comes with two “special offers”, they are:

  • $100 account credit if you make $1,000 in purchases within 60 days of account opening
  • 0% APR on balance transfers and purchases for the first six months. There are also no balance transfer fees.

What Credit Bureau Do They Pull?

It’s hard to know because there isn’t a lot of data points. They pull Equifax for their checking accounts but credit boards shows that they pulled TransUnion for both of the credit card applications that they have data for.

If you’ve applied for this card, let us know who they pulled in the comments and what state you applied from.

Who can apply for this card?

Anybody can apply for this card, it doesn’t appear you need to even be a member of CCU to apply.

We’re  unsure on what credit score is needed for this card as Credit Karma doesn’t provide any data on this and Credit Boards doesn’t have any data for this specific card. That being said credit unions are usually pretty lenient so as long as you have a FICO above 700, I think you’d be ok.

Our Verdict

There are a lot of cash sign up bonuses that are higher than the $100 being offered, but I think there are two reasons this card is worth considering:

  • It earns 3% cash back on grocery/convenience store purchases
  • Consumer credit union also offers a rewards checking account that earns up to 5.09% on up to $20,000 in deposits. One of the requirements is $1,000 per month on a CCU issued credit card (more on this tomorrow)

At the moment I’m not doing heavy manufactured spending at grocery stores and I already have some rewards checking accounts which cover my emergency fund so I’ll probably give this a miss. Once my work tells me what my leave will be like for 2015 and if I’ll be working mostly internationally or in the US I might change my mind. What do you think of this card? If you’re doing MS at grocery stores you might be interested in this list of grocery stores that sell $500 gift cards.



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Hua
Hua

Hey, did you just read this on reddit? 🙂

O
O

I would recommend staying away from this credit card based on the horrible stories here:
http://ficoforums.myfico.com/t5/Credit-Cards/Got-Pre-Approval-for-Consumer-Credit-Union-Visa-Signature/td-p/2989736/page/12

Page 4 mentions at least two people applied and got “Pending” and one confirmed denied after that.

Page 12 mentions one approval of 5k from 2011 and also a mention of IRS income verification, W2 etc for 2 years:
“Congrats on getting approved. It seems like a lot of work. Key Bank recently asked me for all that: 2 years of W2, last 2 pay stubs, last 2 years of tax returns and 4506T form. I wasn’t going to do it, but curiosity got the best of me and they approved. I can now say I completely understand anybody’s reluctance to submit all of that information beforehand or in case of a financial review.”

Kent C
Kent C

I agree “O”. Everyone stay away from this card. Horrible like you said. People getting denied?! and being asked questions! That’s insane. Try the 1% cards, they are a lot easier to apply for.

O
O

@Kent,
LOL. Reading my post again I am smiling here as well. I just recommended this card to my brother for applying. I just got scared by all that initially. I have not had to do an IRS verification EVER and most people were not happy dealing with them on that forum. My brother has applied for a bunch of other cards and then applied for this as well. Great if they give this 3%CB card. They did say that this card is for high income, high spend, high credit score people and that usually 50k income may not be good enough for this card (this is while she had the credit score in front of her, score must have been 770+).

Guest1
Guest1

Will this card earn 3% for loading target prepaid redcard at Target? Anybody with experience? Thanks

Zakon
Zakon

There are probably very few data points, and I’d imagine that those in the know may not be willing to spill the beans. It’s worth a try IMO, 3% x $5K is $1,800/yr. More if you have >1 RB.

Guest1
Guest1

It is definitely worthy it. However the question remains if you can get 3% on this card or not. 🙂

mike
mike

anyone have any news of getting this card?

Jesse
Jesse

I got this card and had zero problems. I highly recommend it. If you have a Target Prepaid Redcard and shop at a Target Visa codes as grocery store, you get 3% back. If anyone joins Consumers CU (or joined recently) and opens up a reward checking, let me know and I will refer you so you get the $50 bonus. I have had no problems with Consumers Credit Union, and have had great service. My email is dnasmith1499@yahoo.com, if you have questions or need a referral. Thanks.

Jesse
Jesse

VISA link to see if Target near you is coded as grocery store.

https://www.visa.com/supplierlocator/search/index.jsp

Gene
Gene

Does anyone know if cvs codes as a convenience store purchase?

Ben
Ben

I am trying to find out if CVS codes as a convenience store as well?

Jesse
Jesse

Can’t you use link below to see how it codes. Look up the address and find the store.

https://www.visa.com/supplierlocator/search/index.jsp

Sergey
Sergey

CCU will enforce $6,000 cap on 3% category starting January 1, 2016.

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