NASA FCU - Tiered Rebate Card - Up to 2% Back

I did a (very) quick search and didn't see this, so here goes....

NASA FCU sent an email today about their cash rebate credit card that pays at the following tier levels:

Card Balance at End of Each Monthly Billing Cycle -- % cashReward
$0 - $1,000 -- 1%
$1,001 - $2,000 -- 1.25%
$2,001 + -- 2%

The reward disburses annually in Novmeber. I've heard elsewhere that NASA is pretty liberal with issuance and was an exclusive EQ puller when I last checked.

Terms [Warning: PDF] for the rebate program are as follows:

Rebate Program for Platinum Cards— The cash rebate is earned with purchases beginning on the first day in which the program begins and is paid annually to accounts open and in good standing on the posting date. Every dollar in net purchases (purchases of goods and services minus any returns or refunds) that a cardholder or any authorized user on the account makes with a NASA Federal Platinum Cash Back Rebate credit card, is covered by this program. The net purchases that appear on the monthly statement during the program period earn a cash rebate. All rebate accruals will appear on the monthly statement. We reserve the right to determine if net purchases qualify for the rebate. No retroactive rebates will be awarded. We reserve the right to prohibit any cardholder from earning or receiving a rebate. If an account is closed for any reason, membership in the program will be terminated and the total balance of accumulated rebate earnings will be forfeited. Membership in the program will be renewed automatically each year, as long as the account is open and not in default as described in this Cardholder Agreement, unless we are notified of cancellation. The balance transfers, cash advances, overdraft protection advances, convenience checks, money orders, finance charges, unauthorized or fraudulent charges, or fees of any kind, including fees for products that protect or insure the balances of the account are not eligible for rebates. Rebates will be deducted for any returns or credits made on the account. Rebates earned are not transferable and cannot be used as payment of obligation to us. The program and benefits are offered at our sole discretion. We reserve the right to alter or waive any program feature or benefit prospectively or retroactively, including, without limitation, participation fees, rebate accrual or criteria, or to cancel or temporarily suspend the program at any time. The program is void where prohibited by federal, state, or local law. These rules and regulations set forth all the terms of the program. We have no other obligation with respect to the program beyond those described in these rules.

Rebate is based on net annual purchases as follows:
a. 1% rebate for purchases up to $1,000;
b. 1.25% rebate for purchases from $1,001-$2,000;
c. 2% rebate for purchases from $2,001 +

green because a NASA card would be cool , you could use it to pick up geeky chicks.

From what I am seeing, it says if the "Card Balance at End of Each Monthly Billing Cycle" is greater than $2000 you will qualify for the 2%. Sounds to me that you need to spend at least $2000 / month on the card to get the 2%, not spending $2000 annually. Am I not interpreting this correctly?

kamalktk said: green because a NASA card would be cool , you could use it to pick up geeky chicks.

Which is EXACTLY the reason I have it (actually, I have the ATM/Check card...LOL!)

NASA FCU has some good deals from time to time, and I have membership for that reason.... I wasn't impressed previously with the CC (9% BT's, etc....) but for an everyday card this one may have to go into my next AOR... 2% is good (comparitively)...

I'll stick with AMEX Blue Cash which provides me with a total return of approx 2.3% .........

montee4 said: From what I am seeing, it says if the "Card Balance at End of Each Monthly Billing Cycle" is greater than $2000 you will qualify for the 2%. Sounds to me that you need to spend at least $2000 / month on the card to get the 2%, not spending $2000 annually. Am I not interpreting this correctly?

this sounds rights to me.

to clarify, as long as you spend at least $2000 in a given month, ALL of your purchases for that month earn 2%. in other words, it's not that the first $1000 earns 1%, and the second $1000 earns 1.25%.

correct?

if so, this is a sweet deal, especially because i'm assuming a decent CL is no problem (unlike HSBC with their space monkey CLs).

lhendricks92 said:
to clarify, as long as you spend at least $2000 in a given month, ALL of your purchases for that month earn 2%. in other words, it's not that the first $1000 earns 1%, and the second $1000 earns 1.25%.

correct?



Unfortunately, I don't think that's the case. It looks like it is 1% of the first $1000, 1.25% of the next $1000, and 2% only on the the amount over $2000 each month.

From the fine print of card description on their website

* Earn 1% of each dollar of new net purchases from $0 to $1,000; earn 1.25% of each dollar of new net purchases from $1,001 to $2,000; earn 2% of each dollar of new net purchases from $2,001 and above. There is no limit to how much Cash Back you can earn. The rebate credit amount will appear on your monthly statement and will be applied to your account annually in your November Statement.

ReformedLurker said: lhendricks92 said:
to clarify, as long as you spend at least $2000 in a given month, ALL of your purchases for that month earn 2%. in other words, it's not that the first $1000 earns 1%, and the second $1000 earns 1.25%.

correct?



Unfortunately, I don't think that's the case. It looks like it is 1% of the first $1000, 1.25% of the next $1000, and 2% only on the the amount over $2000 each month.

From the fine print of card description on their website

* Earn 1% of each dollar of new net purchases from $0 to $1,000; earn 1.25% of each dollar of new net purchases from $1,001 to $2,000; earn 2% of each dollar of new net purchases from $2,001 and above. There is no limit to how much Cash Back you can earn. The rebate credit amount will appear on your monthly statement and will be applied to your account annually in your November Statement.

yep, i think you're right. that's a shame. you'd have to be an awfully big spender to significantly beat the tier-less 1.5% Fidelity Visa.