Posted by William Charles on April 2, 2018
Credit Cards

Published on April 2nd, 2018 | by William Charles

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SDFCU Premium Cash+ Card: 2% On All Purchases & $200 Sign Up Bonus & No Foreign Transaction Fees

State Department Federal Credit Union has released a new card called Premium Cash Back+. Let’s take a look in this quick review.

Card Basics

  • Card earns 2% cash back on all purchases
  • Sign up bonus of $200 after $3,000 in spend within the first 90 days
  • No annual fee
  • No foreign transaction fees
  • No balance transfer fees
  • Cell phone protection (Up to $250 per incident, twice per year. Also comes with a $50 deductible)
  • Credit lines from $5,000 to $100,000

Become A Member

You must be a member of SDFCU before you can apply though, if you’re not already a member you have a few different options:

Our Verdict

Most readers will already have a credit card that earns 2%+ cash back on all purchases. If you don’t then this one is definitely worth considering due to the $200 sign up bonus (Double Cash & Fidelity only come with a $100 bonus). The card also might be interesting for people that need more spending capacity on 2% cash back cards, especially considering the credit limits potentially being offered. Some people might also just want to grab it for the $200 cash sign up bonus, one of the better cash sign up bonuses on offer. Another advantage is the fact they don’t charge any foreign transaction fees.

Hat tip to readers Ori G & Jeremy B



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dave
dave

Thanks. Any info. out there yet on whether they frequently decline for opening too many credit cards recently?

Brian
Brian

I literally just got another Amex Blue approved last weekend. I’d give it a shot but I have a lot of hard pull inquiries in the last 2 years. I need to slow down.

Al260513
Al260513

Also seems like a good 2% card for international spend with no foreign transaction fees and no annual fee. Fidelity and Citi DC both have foreign fees IIRC

David
David

Yes the Penfed credit union power cash visa signature credit card is basically the same

Vince
Vince

Except for the bonus. Penfed CU Power Cash Visa signup bonus is only $100 for $1,500 in spend

creditguy
creditguy

1 EX HP for all products, including membership

Lisa J
Lisa J

It’s almost always Experian.

Zeron
Zeron

Is this a plastic card or metal card?

Jeremy
Jeremy

Most likely plastic.

V
V

Why is the metal vs plastic important and which is more desirable? I would rather have a plastic card that’s lighter but judinn from some angry comments about Chase Sapphire Reserve when they sent plastic cards out after they ran out of metal, I think people want to feel special and important and need a metal card to show it off.

Charlie
Charlie

I prefer the plastic cards because the metal cards sometimes don’t interact well with the payment machines, especially taxis with old-style swipe. Also, one of my grocery stores has signs saying “no metal cards please.”

Bhanna
Bhanna

William Charles Signing up for ACC is now $8 for a year, and still $15 for lifetime… Coupon code still works to waive the fee, and you get a “Welcome message…” that includes your member number within a couple of seconds.

Not sure if I will be applying for this card just yet… Have 17 new accounts within the past two years, and I may want to get a mortage next spring, so figuring that out with my SO before I pull the tringer on this. In the meantime I will keep an eye on approval/rejection DPs

Adam

pulled the trigger. got membership via ACC, code still works. applied, EX HP instantly – went pending alas. kinda expected it. lets see how the underwriters are. and for that matter recon lol.

JASON
JASON

Hope to see 2.5% and 3% card in near future

Charlie
Charlie

Wouldn’t it be great if Navy FCU upgraded its cashRewards Visa from 1.5% to 2% to remain competitive with State and PenFed?

john mccann
john mccann

$3000 spend for a $200 bonus. Kinda chincy.

Charlie
Charlie

That’s about average for a cash back card.

Ryan
Ryan

Unless they’ve changed, they used to be pretty conservative in their underwriting. They didn’t like a lot of open credit lines, recent accounts, etc. (“Pyramiding Debt”) Aside from that, they’re actually a pretty good credit union to deal with. I had an account there a few years ago and never had an issue with their service.

mizzpenny21
mizzpenny21

debating if i want this now… i have the Citi DC, but no FTF would be nice to have..

Anyone know what is the min cash back redemption? $25 or it auto-redeems like other CU CCs?

Craig
Craig

You need at least $5 worth of rewards to redeem, so it’s not a high barrier like Fido which requires you to have at least $50 in rewards.

Leo
Leo

Seems pretty ridiculous that every government branch needs its own credit union. No wonder our government is so bloated! I know these aren’t fully government run institutions, but still seems ridiculous how many there are.

Ewejay
Ewejay

Please read. Credit unions are not government-run.
https://www.investopedia.com/ask/answers/100314/what-difference-between-state-and-federally-chartered-credit-union.asp

Also,
“In 1960, there were nearly 13,000 independent banks. By 2005, the number had dropped in half, to about 6,500.”
https://www.richmondfed.org/~/media/richmondfedorg/publications/research/economic_quarterly/2006/fall/pdf/janicki_prescott.pdf

Charlie
Charlie

Leo, why do you care? If you don’t like credit unions, don’t join them. And the ones in government agencies are no more connected to the government than are the credit unions in private companies, civic associations, and other groups.

Lisa J
Lisa J

I applied to join acc a few days ago but never heard back.

O-Qua Tangin Wann
O-Qua Tangin Wann

Lisa, you can imagine they were inundated with applications, since their offer is great. It took 3 days for me to hear back. Sadly, in spite of the fact I have an 800 score and good finances, my application was declined because they said I have too many other cards. (I have 6. I pay in full every month and don’t finance anything. I was intending to close some of them as I don’t use them anymore, but had not done it yet. And maybe the fact I pay in full every month is not attractive to them because then they would not make the high interest. I don’t know for sure, of course.)

Good luck…I hope you get approved.

Lisa J
Lisa J

Thank you for the info. I only applied for acc membership and haven’t heard back.
In that case I won’t be applying since I also have 6 cards and my score is lower than yours.

Lily
Lily

Dont have 2% card other than capital 1 spark. This is very tempting but I just added 2 wells Fargo cards recently and have way too many inquiries on Experian (8 or 9/24) so afraid to be denied with a HP.

Hunter
Hunter

They seem to have updated their links to an actual PDF with explanation of benefits. Cell phone protection appears to be $250/incident with 2x/year and $500/year max but also $50 deductible/incident.

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