[MD, D.C., VA] Lafayette Federal Credit Union Mastercard – $600 In Gift Cards Or $650+ In Flights

Lafayette FederalCredit Union offers as Mastercard of interest, let’s take a look in this quick review.

Card Basics

  • 50,000 point bonus after $5,000 in spend within the first 90 days
  • No annual fee
  • Card earns 1x point per $1 spent
  • To join you must live in Maryland, Washington, D.C. or Virginia and are an existing member or become a member of American Consumer Council (ACC) (read this post on how to join for free). There are a few other ways to become a member, listed here.

Our Verdict

This card earns CURewards points, so 50,000 points is enough for a $600 gift card or $657.50+ in flights. Overall a very nice bonus and good to see something like this from a smaller issuer. I have no idea how they are with approvals, so please share your experiences in the comments below.

Hat tip to reader Sean B

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Victor
Victor

If you are self employed, you need to submit your entire tax return.

I found the process to be far too intrusive for just a credit card. Sorry I ever applied for it. Canceled my application out of the frustration of dealing with their intricate and slow process and finding out the level of financial detail needed.

They don’t return phone calls so it takes a long time to get anything done.

Matricia
Matricia

I was successful and just received my mastercard! I actually do live/work in DC, so it’s possible I was approved because I looked more legit than others applying from across the country using the ACC as an “In.” I also wrote something in the notes section about wanting to be a part of a credit union, that I had been a member at one over a decade ago and wanted to be a member of one again. Not sure how much weight was given to both those things, but those are the two things that may have been different about my application, and gotten me approved.

Sparky
Sparky

Figured I would try again since maybe this bank may have been inundated last year and now had a cool down period of a year. Application under 2.0s name deposit account was ignored last year. I applied this month for a deposit account and for a card. Deposit account was denied based on the number of recent accounts -maybe 2/6 and 5/12. Card was denied due to many revolving accounts.

Sparky
Sparky

I also tried to call and recon and one of the representatives said to call in after applying to put notes on the account. Such as multiple accounts to handle multiple goals and businesses.

DC Churner
DC Churner

So far no one has mentioned successfully receiving the card (several mentions of initial approvals later revoke due to having lots of cards). Did anyone manage to get the card? If so, how many cards do you have/have you applied for recently?

David
David

I applied for checking account 10 days ago….still no update.

furiouschads
furiouschads

Declined. Equifax 802, too many new accounts. LOL/24.

John
John

Checking account application declined (no notice, but logged in and saw it). CC application still pending, but not expecting a positive outcome. I guess this credit union didn’t like the free publicity that it got courtesy of this blog.

Sparky
Sparky

Checking account application denied as well based off of report from chex systems. 3/12 for new bank accounts. no other reason given. Did not apply for credit card yet.

Jimalb
Jimalb

Guess I’ll wait for the dust to settle. I like their auto rate (2.375, 48m).

jake
jake

How comes there’s no state specific credit card bonus page?

Rob
Rob

I was in the same boat as David, but I just checked the status of my credit card application which was approved on Monday and is not declined (with no notice) due to “Number of outstanding revolving accounts.”

david
david

Yeah, I think they’ve caught on with all the extra attention and they are looking more closely at stuff. Looks like i wasted $10. I think I’ll wait a bit before applying to try and avoid manual detection.

Rob
Rob

*now declined

David
David

My application to join the credit union has been stuck at confirmation of my drivers license pictures I sent in for 3 days now. I saw credit card applications were down, and now appear to be back up. Anybody have any updates here?