Update 7/4/19: Bonus reduced to $200
Offer is back, they are also offering an introductory APR of 0% for six months on balance transfers with no balance transfer fees. View more 0% APR, no BT fee cards here.
The Offer
- Elements Financial Credit Union are currently offering a sign up bonus of $300 as statement credit on all of their credit cards (excluding their secured card) when you complete the following requirements:
- Make at least 10 card purchases
- Total purchases must be at least $1,000
- Must be completed within 90 days of card approval
The Fine Print
- Requiring at least 10 card purchase transactions totaling at least $1,000 within 90 days of card approval — will be fulfilled as a $300 statement credit.
- Secured Card excluded.
- Offer subject to credit approval and may be taxable.
- Elements reserves the right to amend or discontinue offers at any time.
- Additional terms and conditions may apply. Please allow 4-6 weeks for receipt of statement credits.
- If account is closed within six months, we reserve the right to deduct the bonus at that time.
- Product offers cannot be combined with other promotional offers for the same product.
- One offer per household.
- Existing Elements credit cardholders not eligible.
Our Verdict
Note that there is a limit of one offer per household and they also say it may be taxable (credit card bonuses usually aren’t, but if they send a 1099-INT it’s going to be a pain to contest). None of the cards are actually that interesting (1%-1.25% cash back, with Signature Rewards being the best but reserved for special clients). Should be open to anybody to join, more details on that here. Definitely one of the best cash sign up bonuses. It’s also only a soft pull to join the credit union. Unfortunately they are extremely inquiry sensitive so most people will be denied (see comments for what I am talking about)
As always, please share your experiences in the comments below.
Hat tip to reader Andrew
Approved for the Visa Signature card at 16/24 and 1 EQ inquiry. I applied for and received the checking bonus in summer 2018. I kept the savings account to maintain my membership. Called to expedite shipping of the card, but there is a $30 fee.
First time EVER I get denied for a CC. This offer should be removed from the list. Many commenters here with good credit have been denied.
I believe this “generous” offer is only to attract new sign-ups for their membership.
I emailed them to NOT process my membership app since I was denied a cc there was no need for their membership. Hope it won’t be a hassle to get the fee stopped or cancelled.
Datapoint: Denied for the Elements Financial Cash Rewards Card, interestingly enough due to age of accounts and length of employment history rather than number of inquiries or cards opened within the past two years. My length of employment at my current job is less than 7 months. I was at 8/24 before I applied with three of the accounts having been opened during January of this year and three inquires on my report in total before the application.They pulled Equifax.
Weird thing happened to me with them.
I was tempted to try but stopped half way due to the uncertainty regarding residency. So I saved the application and wanted to continue after figuring out the correct choice.
Yesterday, I received their decline letter in the mail!!! My Equifax was pulled and I was given the record. They can pull without my finishing the application?!?!
Have I misunderstood or they changed their member policy? Unlike what was stated in the link from the post here (“I did the online application. You can join the supporting organization Tru Direction in the online application.”), This page (https://www.elements.org/how-to-get-started/) has the following:
“Open an Elements checking or savings account or apply for a loan or credit card. During the application process, we will open you an Elements savings account (that’s the part that makes your membership official). We’ll even put $5 in to get you started — no need to transfer funds from an existing account!”
Looks like now people can join by applying for their card?!
Received instant approval for Cash Rewards Visa. I originally signed up for an Elements checking account around 6 months ago, and still have that open and receiving a DD. I was originally afraid to apply based on some of the comments here, but I am glad I did!
I was 8/24 when I applied, and 5 of those 8 cards were opened over the last 4 months. I’m not sure what my inquiries look like, but I was recently denied for a BofA card for too many inquiries. FICO ~740
Disregard this! While I thought I was approved, they sent me an email the next day saying I was denied and would receive a letter in 5-7 days.
Got my first credit card rejection ever. Credit score over 800. I don’t have a lot of recent activity and I’m under 5/24. Had a lot of credit cards accumulated over the years and that was the reason they gave. Oh, and they never paid my checking bonus. This CU stinks.
Did you ever get your checking acc bonus?
I’m tempted to apply for the CC but if denied, it’s an extra inquiry on my credit history that I don’t need right now.
It says one offer per household but has anyone gotten more than one cc and $300 bonus for each?
In LA, already a member, got denied, EQ hard pull FICO 760
reasons: exceed available credit, length of account established.
My last account was opened back in May 2018, 2 EQ inquiries (including this one), 5 new accounts last 2 years.