Posted by Chuck on March 2, 2020
Credit Cards

Published on March 2nd, 2020 | by Chuck

49

[FL] Tropical Financial Credit Union 3% Cashback Mastercard Credit Card (No Annual Fee)

Topical Financial Credit Union has an Elite Mastercard credit card which earns 3x points per dollar on all purchases and has no annual fee.

Direct Link to offer

The credit union has a number of branches in Florida, and allows members who live or work in one the following Florida counties: Miami-Dade, Broward, Palm Beach, St. Lucie, Martin, Hendry, Collier, Lee and Sarasota. You also can join if you are an employee of one of our Partner Companies.

We haven’t been able to independently confirm that value of points, but according to this article from Nerdwallet each point is worth 1 cent, making this a 3% everywhere card. There aren’t any other cards that earn 3% on a regular basis, so this is certainly interesting.

Hat tip to reader Sam

Related: Best Credit Cards For Every Day Purchases



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Scott
Scott

Is there supposed to be a hyperlink for “this website” that addresses the value of the points?

Mike
Mike

Are you sure it’s 3x on all purchases? The site says:

“Earn 3 reward points on all retail purchases“

Matt
Matt

Unfortunately no obvious backdoors like a donation to a local charity.

T.T.
T.T.

Where are you seeing these “partner companies”?

RD
RD

Go to the app. There are way too many to post here, but they mostly sound like local small biz aside for AT&T and Avaya.

FWIW, I’ve yet to see a CU actually bother to verify employment but I’m not gonna be a guinea pig on this one.

Jon
Jon

I need HELP! I applied because I work for an eligible partner and was approved for both a CC and a savings account, but just got an alert stating that they were revoking the approval because I live outside of the footprint. I see in the application flow that it shows that working for an eligible partner is a completely valid way to join, but the “manager” is saying this is a website error and that you have to live in footprint even if you work for an eligible partner. Do you see any other places on the website where it shows this? I’m quite peeved because if this isn’t resolved I do not want to waste an inquiry due to their ineptitude.

EW
EW

you should mention this page (https://www.tropicalfcu.com/best-community-banks-in-miami-florida) which clearly states working for partner company is a sufficient condition by itself which is the 2nd place besides the application gateway.

i would probably have this conversation on phone and also maybe add that i have a 10k$ sitting that i was really interested in putting into their savings/CD for next many months cos i thought there interest rates were great,

Jon
Jon

I’m sure I’m overlooking it, but I don’t see where it says that via that link. Where is it specifically?

EW
EW

At the very bottom of the page, right above the Red Button heres the text:

“Joining is simple, but in order to become a member of Tropical Financial, you must live or work in one the following Florida counties: Miami-Dade, Broward, Palm Beach, St. Lucie, Martin, Hendry, Collier, Lee and Sarasota. You also can join if you are an employee of one of our Partner Companies. Get started and start feeling good about banking today.”

Jon
Jon

Yep, there it is. Plain as day. Thank you very much. I’ve screenshotted it, just for my records. Suffice it to say, based on my experience, I don’t think they will be accepting employees of partner companies much longer.

EW
EW

so looks like you hit a brick wall? did they deny your application ultimately? or are you still negotiating?

Jon
Jon

I was indeed approved but it was an act of Congress and they made it sound like it was a one time exception. I think they want to restrict membership more tightly with this card having been released.

Duke I.
Duke I.

It’s 3 reward points, not 3% cash back. Spend $3 get 3 points, not spend $3 get $.09 back.

LAG
LAG

While I agree, it’s not cash back so the title of the post is a little inaccurate… did you read any of the links provided?

It’s very clearly 3 points per dollar, not 1 per dollar as you’ve described here (e.g. $3 spent would = 9 points, not 3)… and using the only available info they’ve noted that points are supposedly worth $0.01/point, meaning they’re correct in pointing out that it appears to be a $0.03/dollar card

The website itself even indicates you can exchange points for cash back, so I don’t even think the title here is that inaccurate…

Omer
Omer

Just one additional point – card has 1% foreign transaction fee

J
J

Our CFO looked at the numbers and said, ‘We can afford to do this,’” she says. “So we did this.”

She should have looked at the MS community and even personal finance communities before coming to this conclusion.

Red
Red

Don’t see a legit way to join unfortunately.
Will have to stick with the no fee 3% back card for MCC codes: 5411 (Grocery Stores), 5541 or 5542 (Gas), 5310 (Discount Stores), 5812 (Restaurants) and 5814 (Fast Food) that I use if I don’t have 5% on one.

dan
dan

Which cards are you referring to? Specifically grocery…

Millennial Outrage

Probably Blue Cash Everyday

Red
Red

A UMB affinity card. A lot if small to mid size banks in nearly every state offer them. See comments in this thread, there may be newer discussion, I don’t know, but this was my old bookmark.
https://www.doctorofcredit.com/umb-simply-rewards-visa-credit-card-review-3x-gas-grocery-discount-restaurant-fast-food/#comment-330672

AweDi
AweDi

Unfortunately, I know I am in the minority here, works only for Citizens or Permanent Residents.

Cjrmets
Cjrmets

I don’t live in the footprint. But my Dad does. Any thoughts on my success chances? I’m currently rocking my PayPal MasterCard for 2% as my daily driver misc card, and I’d be so happy to sock drawer that card

Grasshopper
Grasshopper

According to membership rules, immediate family members can join. I don’t think you have to live there with your Dad to qualify.

Sam
Sam

do it, i use friends and family addresses all the time

Shawn
Shawn

Adecco is one of the employer groups, it’s a employment agency that has offices in every major city in the U.S. I wonder if one were to ‘register’ with them seeking temp/contract work but have no intention of accepting a placement with one of their clients would be a way to join. A temp/contractor candidate for placement is considered an employee of the agency.

COBOLCODERUSEALLCAPS
COBOLCODERUSEALLCAPS

Great idea. Beats the $99 for registering a mailing forwarding address in the state.

arizonapv
arizonapv

Then what do you do when they want a copy of your utility bill?

esha w
esha w

can someone confirm if this worked and also what documentation was asked

Sam
Sam

I spoke to them over the phone one as my employer is also located in the state and in south., They mentioned at least they need a utility bill or something saying you stay here.

Sheri
Sheri

Years ago I used to work for Adecco so I thought I would apply for the membership. In order to be a member, you have to have a savings account. I submitted the application and received the following response:

Thank you!
Your application has been submitted. Be on the lookout for an email from DocuSign to complete the application process. If we aren’t able to approve your request, you will receive an email or letter in the mail in approximately 5 business days.

I will provide updates and let you know if my application was approved.

EW
EW

looking forward to hear back your experience

Sheri Richters
Sheri Richters

I received a response today asking for a copy of my pay stub from Adecco. It appears I will have to pass on this offer. Here is the response that i received:

Thank you for your interest in an account with TFCU!

Please provide proof of employment with ADECCO, ie; current paystub

This can be emailed to us at: DigitalBanking@tfcu-fl.org

Sincerely,

Tropical FCU
888-261-8328

esha w
esha w

thank you for the info. appreciate it.

arizonapv
arizonapv

Hard pull on Equifax

Sam
Sam

arizonapv , Did you apply out of state and got approved? Please tell your story?

arizonapv
arizonapv

I applied out of state and did NOT get approved and got a hard pull. pfft.
The letter said I was not in the area and was denied.

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