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While digging around for a totally unrelated promotion, I came across this offer at Fort Knox Federal Credit Union (KY):

"
Introducing our VISA Platinum card!
It offers a credit limit up to $25,000 and a low interest rate! Now for the great news: Cash Back! This card features Cash Back rebates of 5.00% on gas purchases (which equates to a reduction of 15¢ on the gallon†) and 1.25% on all other retail purchases!
"

http://www.fortknoxfcu.org/visa.html


Let's ignore the risque-looking domain name for a moment Membership eligibility appears to be the same wink-and-nod that we enjoy at Alliant. On their website ( http://www.fortknoxfcu.org/membership.html ), note the last sentence of the first paragraph: "Or you can become a member of American Consumer Council for free." Their membership page is here: http://www.americanconsumercouncil.org/membership.html


This deal (as noted below, substantially similar to PenFed) seems to rival AMEX Blue cash (sans grocery and drug stores), WITHOUT the $6500 tier. At 1.25% for all other purchases, this might be a decent alternative to the soon-to-expire Schwab card...


<edit>

There appears to be a $10 one-time "membership fee" referenced at the bottom of the membership page above... "The initial requirement for membership is only $15, of which $5 represents one share in the Credit Union, and the remaining $10 covers your one-time-only membership fee."


I haven't dug around their website much, but there doesn't seem to be any deposit products that are compelling...

edit: fixed URL, as referenced in the QS...

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jewsus (Feb. 14, 2013 @ 10:56p) |

After doing a bunch more research on gas rewards I realize I was a bit snippy in my earlier reply, especially if you wer... (more)

vaderzak (Feb. 15, 2013 @ 12:40p) |

For the Fort Knox Federal Credit Union Visa Gas Card, does the 5% count if you buy gas from a discount store (WalMart) w... (more)

heronva (May. 06, 2013 @ 7:46p) |

3/12/2013 - Only 1% on everything else now.

$26 fee for card inactivity over a year!

New URL

Edit: Fixed URL Link

- the $10 membership charge is credited to the savings account

- the savings account must have 1 transaction every 12 months or the entire online access to all accounts will be locked out due to dormancy (even if the credit card account is active)
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It's the same card that Penfed offers. There is also a police credit union that offers the same card. Good luck trying to join Fort Knox CU. I tried last year and their eligibility requirements were pretty strict. Maybe that has changed. Last year they told me you had to reside in one of a few counties in KY or be stationed at Fort Knox. It's an EQ pull for anybody interested and be prepared to mail in a copy of your drivers license and social security card.

crawsfire said: It's the same card that Penfed offers. There is also a police credit union that offers the same card. Good luck trying to join Fort Knox CU. I tried last year and their eligibility requirements were pretty strict. Maybe that has changed. Last year they told me you had to reside in one of a few counties in KY or be stationed at Fort Knox. It's an EQ pull for anybody interested and be prepared to mail in a copy of your drivers license and social security card.

But they say right there you can join the American Consumer Council... Maybe that's a new thing?

May be. Try them out and post your results. They may end up being a great alternative to the Penfed version.

PenFed Visa Platinum CashBack Rewards credit card reduced from 1.25% to 1% CashBack for all other purchases (it's still 2% for supermarkets and 5% for gas purchases)

http://bit.ly/aFst72
Visa Platinum CashBack Rewards

Apply Now

13.99% APR -- lower than most rewards cards!

Earn 2.00% Cash Back on supermarket purchases*
Earn 5.00% Cash Back from gas purchases paid at the pump*
Earn 1.00% Cash Back from all purchases** you make with the card during each billing cycle
Up to $50,000 limit
No Annual Fee
Cash Rewards credited each month
No special restrictions to earn your cash rewards
Limited Time- Low Balance Transfer Rates†

Apply Now

Non-Members Click Here??

crawsfire said: It's the same card that Penfed offers. There is also a police credit union that offers the same card. Good luck trying to join Fort Knox CU. I tried last year and their eligibility requirements were pretty strict. Maybe that has changed. Last year they told me you had to reside in one of a few counties in KY or be stationed at Fort Knox. It's an EQ pull for anybody interested and be prepared to mail in a copy of your drivers license and social security card.

Googled it!

Police Federal CU has the same features as the Penfed Visa because Penfed must manage it. Link goes to Penfed with Police Federal CU info.

https://www.penfed.org/loanapps/policefcu/visacardapp.asp

Link

Actually Penfed doesn't run its own card service -- so its more likely that all these institutions are using the same outside processor. One that likely specializes in Credit Unions.

(a CSR told me that they had an outside agency once when I was moving funds around involving my Visa -- it caused a delay of some sort between posting and the debit)

Interesting, but not surprised. Regardless, Penfed & Fort Knox have great products.

I was approved for this card with a $25,000 limit (after documentation of very high liquid assets).

The paperwork burden is on the high side. They want proof of income, copies of documents with SS number and other ID. Unlike some credit unions where it is hard to qualify, there is a consumer's organization you can join for free (American Consumer Council)as part of your Fort Knox Credit Union application, that lets you qualify. (It may generate some junk E-mail).

Unlike some credit unions, they have an application fee and a $10 minimum deposit, which I am told is best made by check. They have no provision for initiating ACH transfers to fund unopened accounts. One sent from the other end by a procedure by which test deposits are made risks having the other firm request their test deposits back, causing a over draft fee to be charged since the account won't be set up yet.

A joker on the credit card is a $26 fee for inactivity over a year (may catch some people by surprise if they quit using this card). Presumably the reason you get it is for the 5% on gasoline and the other rewards, so you are likely to use it.

You can pay the card over the phone from another card, but they say they submit this as a cash advance (which is likely to expose you to fees from that card). I was told by them that they did not have their own cash advance fee however, which may be useful to some people.

One of the best cards out there. Thanks to whoever initially reported about this card on fatwallet... you are my favorite FWer haha.

I see much more value in PenFed because of their 2% grocery rebate provision which more than makes up for the loss of 0.25% on miscellaneous purchases. Of course, some folks don't buy many groceries.....

ProfessorEd said: I was approved for this card with a $25,000 limit (after documentation of very high liquid assets).

The paperwork burden is on the high side. They want proof of income, copies of documents with SS number and other ID. Unlike some credit unions where it is hard to qualify, there is a consumer's organization you can join for free (American Consumer Council)as part of your Fort Knox Credit Union application, that lets you qualify. (It may generate some junk E-mail).

Unlike some credit unions, they have an application fee and a $10 minimum deposit, which I am told is best made by check. They have no provision for initiating ACH transfers to fund unopened accounts. One sent from the other end by a procedure by which test deposits are made, risks having the other firm request their test deposits back, causing a over draft fee to be charged since the account won't be set up yet.

A joker on the credit card is a $26 fee for inactivity over a year (may catch some people by surprise if they quit using this card). Presumably the reason you get it is for the 5% on gasoline and the other rewards, so you are likely to use it).

You can pay the card over the phone from another card, but they say they submit this as a cash advance (which is likely to expose you to fees from that card). I was told by them that they did not have their own cash advance fee however, which may be useful to some people.


I joined a month ago. There was no "application fee" -- everything was done online. By that afternoon, I had an email requesting DL and SS card. Faxed those over and my accounts were opened without having to send anything in. Received my membership packet, accessed online banking (a truly antiquated looking site but functional enough), set up trial deposits which went through in 1 day both the deposits and the associated withdrawal. Once that was done, sent over $55.00, put $50 in checking and $5 in savings. Everyone was happy.

Then I applied for a credit card, asked for $20K on it but apparently filled out the online application wrong (it is just as archaic as the rest of the site). They gave approval to the request within 5 minutes, called me later that day to verify that I wanted an auto loan. I told them I had meant to apply for a Visa and was told that I was approved for $25K on that. They asked for 2 pay stubs and my 2009 W-2. Sent those in and received my card within a week. At no time did I have to provide evidence of any assets beyond my salary (and it is only in the 5 figures -- nothing to write home about).

So far, been very happy with them.

sayhey said: I see much more value in PenFed because of their 2% grocery rebate provision which more than makes up for the loss of 0.25% on miscellaneous purchases. Of course, some folks don't buy many groceries.....

For most, her logic is probably right.

For me (and probably others) there are other ways of getting 2% or on groceries, such as the many cards with high rebate rates on everyday spending, or the Schwab or Fidelity 2% on everything cards.

For me, this card will replace the Discover Open Road card which used to pay 5% on gasoline (now reduced to 2%).

Incidentally, I did not mean to suggest you had to supply proof of assets. They did ask for proof of income (most card applications seem to only ask you to supply the number) and a document with your social security number, ideally you social security card. I am retired, with the most easily documented proof of income being a small social security check. Recent "income" is a large absolute number. Alas, the large number could have a a negative sign in front of it(depending on the time period) due to recent stock market declines. Thus, I choose to supply asset information which made it clear I was low risk.

They did impress me when I replied to a E-mail stating I had faxed things in, and got a return message in a couple of hours thanking me, indicating someone was working at 7PM (from conversations it appears all their loan processing is done by two people). Their forms do not appear designed for credit card applications (asking for instance how long a repayment period you are asking for) and I also noticed they at first thought I might want a car loan.

Did you guys noticed that they changed the site? How to pay credit card bill now?!!

PhrostByte said: Did you guys noticed that they changed the site? How to pay credit card bill now?!!

dammit dammit dammit... probably my fault, I just finished the CU approval process so they must know something is fishy with all these new applications from like Californians.

NOOOOOOO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Someone please tell me they know where the link is.

Thank god I found it. Go to: http://www.fkfcu.org/

Click on Financial Education

Click on Helpful Credit Information

Click on Online Payment Center

Badabing Badaboom

Or you can go to Site Map, Online Payment Center.

Good eye mate.

Aha... I just received my card and was wondering why I never saw the "payment center". Thanks guys.

Does this use the same login as Branch@Home? I don't have my account number with me so I can't test it out.

It's not the same as your Branch@Home login.

Probably the longest process to get approved I've gone through, but almost done. Assume they'll need proof on income (but you might have to ask them if that's what they're looking for) and they will probably botch at least one thing during the application process.

Yea.. it takes a while but it's definitely worth it. This is 100% without a doubt one of the best cards around. Combining this with a Schwab/Fidelity/Orchard Bank card makes it twice as good. :]

So to apply for this card we should be doing it through the ACC site, not the "Non Member" site on the Fort Knox site? I'd love to combine this with my Schwab Invest First card. I'm also interest in applying for the Citi Forward card, should I wait to apply for that as well (space it out), or can I apply for both at the same time? (Sorry for the n00b questions)

Are the rewards credited with each statement? This along with the 2% on groceries is what makes the PenFed card stand apart from the rest.

Which, if any, other cards are confirmed able to pay the Fort Knox CC bill without treating it like a cash advance? I have all the good ones: Schwab, Fidelity, Forward, Plat. AMEX, etc.. But before going through this wringer of an application, I was hoping to make sure someone has successfully combo'ed this to get the fabled 3.25% as stated on the stickied thread and linked here. Any confirmations?

If anyone wouldn't mind sharing the step-by-step process they went through for signing up, I'd greatly appreciated it.

Also, how long did the entire process take? At what point did you have your credit card number which was eligible for purchases (even if you didn't receive your card yet?)

ken: It definitely works. I've combined this with the Schwab myself for a number of months now. After both CashBack totals are applied.. I guess it is around 3.25% back (minimum). The CashBack for Fort Knox is automatically applied (just like PenFed). For Schwab, it's applied to a separate brokerage account.

abracadvaer: I responded in the other thread and the private message. Just follow the instructions. Fill out the forms and fax them back. :]

Fort Knox CU will automatically sign up you up for the American Consumer Council. You don't need to do anything directly with them.

The first thing you want to do is become a member of credit union by opening up a share (savings) account. There will be some paperwork, but it's not bad. Once your account is set up, you can then apply for the credit card. The whole process took a few weeks, but was well worth it.

Not only is the card great, but their customer service has been outstanding.

Is it absolutely necessary to sign up for the savings account before the CC?

abracadaver said: Is it absolutely necessary to sign up for the savings account before the CC?

Of course...i guess you've never had an account with a Credit Union before...a Credit Union is a non-profit cooperative and the "customers" are members...each member of the CU must have a share,...that is why they call it Share Savings....and that share (which is usually $5 or so) is not available to withdraw as long as you are a member of the CU...

Once you have a Share savings, you can partake in any of the services the CU has to offer..example: Checking, Credit cards, Loans, etc...

Could you explain a little more clearly how I will pay for the Fort Knox bill with my Schwab card without getting any sort of cash advance fees or otherwise?

phpld said: Could you explain a little more clearly how I will pay for the Fort Knox bill with my Schwab card without getting any sort of cash advance fees or otherwise?

ditto. How does it work?

pilsah said: phpld said: Could you explain a little more clearly how I will pay for the Fort Knox bill with my Schwab card without getting any sort of cash advance fees or otherwise?

ditto. How does it work?


I am assuming we can login to our schwab credit card account and pay through the bill pay, but that is a little sketchy to me until we can confirm this for sure.

No, what you do is go to Fort Knox's payment site :

https://www.swbc.com/WebTransactions/WebLogin.aspx?id=9da187a7a191431db943a9a5a6fec6f4

and pay with your credit card. You can pay with any pretty much any credit card.. except I think Discover.

The only thing that worries me is one day it'll be coded as a cash advance and you will be SOL.

For those who have applied, were you asked to verify income?

skwz said: For those who have applied, were you asked to verify income?

I had to supply 2009 w2 and two recent pay stubs.

Skipping 215 Messages...
For the Fort Knox Federal Credit Union Visa Gas Card, does the 5% count if you buy gas from a discount store (WalMart) warehouse store (Costco or Sams Club)?



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