I'm a member of Kinecta Federal Credit Union for almost my entire life (formerly Paymaster) and I did a quick search and a few people have alluded to their CD rates. One day I was going through the website and saw their credit cards, and was considering doing it for my app-o-rama. The terms are pretty terrible (High APR, Prime+3% BT Fee, etc.) and I saw that they have a reward program attached to it. I logged in to see the Rewards program website and was shocked to see that I have points accumulated already. Looks like I got a pretty terrible 1 point/$4 for using my check card. As I don't use it much, I pretty much didn't think about it much.
Sometime later, I saw the pdf (link below) which shows how you get rewards points. You get 1 point/$1 for using one of their credit cards, so I decided to look at the rewards redemption again...
$100 GC - 6000 points Thats 1.666% CashBack (using their credit card) which is pretty decent. Since you can't see which retailers are on the list without being a member, here is an incomplete list of the stores they offer GC for:
$100 Amazon.Com Gift Cert. $100 Bath & Body Works $100 Best Buy $100 Bloomingdales $100 Cabela's $100 Crutchfield $100 Gap $100 Harry & David $100 Home Depot(R) $100 Jc Penney $100 Kohl's $100 L.L. Bean
$100 Arco Gas $100 Avis $100 Bp Amoco $100 Fairfield Inn $100 Hyatt $100 Marriott $100 Holiday Stationstore $100 Best Western
I skipped the Dining and Entertainment section but there is a lot of options there too.
and this... which is pretty nice:
$100 Visa Dreamfunds Gift Card (Also 6,000 points) The Visa prepaid gift card can be used virtually anywhere. There are no limits on what you can do with your DreamMiles Funds card. Please note that the card will have the name of the person who orders it embossed on the card. All cards will be sent to the address on the order. Accepted wherever Visa cards are accepted. Delivered as 2 x $50.00 cards. Cards expire 6 months from date of issue. Valid for use in the United States only, cannot be shipped outside of the U.S.
They also have a bunch of items/gifts, but honestly I'm never really very interested in those. They offer airline discounts ($100 per 7500 points or trade them in directly for tickets, with best case scenario of 5000 points/$100, but probably worse)
Personally, I'm going to use my Fidelity card for 1.5% because I'd rather be forced to save than to spend, but I figured this would be good for some and some might use it. Enjoy!
Disclaimer: I do not have or have not applied for these credit cards. I'm sure you have to a member of Kinecta Credit Union which has some pretty low barriers for entry.
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posted: May. 10, 2007 @ 8:36p
evilbau
Ancient Member
posted: May. 10, 2007 @ 8:49p
Since I was vague on the airline tickets, below is the redemption rates for tickets. As you can see its up to 2% but that is the best case scenario. Getting discouts on flights works out to 1.3333%
From: 48 Contiguous States
To: 48 Contiguous States 25,000 ($500 ticket cap) Canada, Mexico, Alaska 35,000 ($700 ticket cap) Hawaii, Central America or Caribbean 45,000 ($900 ticket cap) Europe, South America 60,000 ($1,200 ticket cap) Asia, Africa or Australia 80,000 ($1,600 ticket cap)
interesting. How generous are they with approving and CL's?
edit: this could be pretty hot, since the best rewards cards out there (that are still alive for new applications) are 1.5% + some CU's are very generous with CLI's (penfed, navy fcu).
evilbau
Ancient Member
posted: May. 10, 2007 @ 9:40p
AbbaZabba said: interesting. How generous are they with approving and CL's?
I don't really know, sorry. I am planning to include it in my next AOR since I would like to have a credit card with the credit union i've been with since i was 10 (i'm a bit sentimental at times) but that won't be for a while. No data points, unfortunately.
I hope abuse doesn't kill the rewards program before I get a card but I figured its all for the FWF greater good, haha.
From their site (no idea what the reality is though):
Visa Platinum
* Variable APR (prime + 2% = purchases, prime + 3% = cash advances/balance transfers) * No Annual Fee * Acceptance at over 18 million merchants worldwide * Cash Advances at participating financial institutions and ATMs worldwide * Credit limits up to $50,000 * 24 hour telephone member service * 24 automated access to account information (VRU) * 24 hour telephone access to report lost/stolen credit cards * Early fraud detection provided via a neural network * $1,000,000 Travel Accident Insurance
AbbaZabba said: interesting. How generous are they with approving and CL's?
edit: this could be pretty hot, since the best rewards cards out there (that are still alive for new applications) are 1.5% + some CU's are very generous with CLI's (penfed, navy fcu).
RushnRockt typed: [Q= said: AbbaZabba]interesting. How generous are they with approving and CL's?
edit: this could be pretty hot, since the best rewards cards out there (that are still alive for new applications) are 1.5% + some CU's are very generous with CLI's (penfed, navy fcu).
AMEX Costco True Earnings?True earnings only gives you 1% back on regular purchases, plus you have to be a Costco member (in order not to pay an annual fee.)
Now, that 5% they give back on Costco gas with the business version of this card is pretty sweet!
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