If you tend to use your credit card for everyday purchases, as well as large purchases such as electronics and vacations, you may be best served by having a cash rebate card. Cash rebate cards give you a percentage back of what you charge as a statement credit each month, and the Schools Financial Credit Union (SFCU) Visa Platinum Rebate card has many attractive features including cash back.
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If you are able to pay your balance off each month, you can actually save even more money with the rebate. The SFCU Visa Platinum Rebate card offers a total of 1% cash on all purchases made with the card, and that amount is credited to your account whether or not your pay your balance in full.
Details of the Visa Platinum Rebate Credit Card from SFCU
As an example, if you charge $5,000 each month on your SECU Visa Platinum Rebate card, you will automatically earn a $50 credit on your credit card billing statement.
So, if you can pay your balance off each month, you will actually be paying less than you charged.
However, if you carry a balance from month to month, be careful with rebate cards as they often carry a higher annual percentage rate. This higher rate offsets the cash back, so make sure you are not paying more in interest just to receive cash back.
The Better Business Bureau offers detailed information for people looking to apply for credit cards. To learn more about cashback credit cards, visit the Better Business Bureau website.
SFCU Visa Platinum Rebate Credit Card Rates and Fees
The annual percentage rate for the Visa Platinum Rebate card is a variable rate between 12.9% and 13.9%. While there is no annual fee for the card, you will be charged as much as $15 if you are late with a payment. In addition, there is a charge for using your card to make a cash advance.
While balance transfers do not carry a fee, the interest rate you pay for a balance transfer is the same as a purchase.
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