Monday, December 17, 2012 - 9:17 AMEvolve Federal Credit Union
If you are not interested in the Amex or BOA credit cards which offer different point levels for spending in specific categories (typically groceries and gas) or in keeping up with rotating categories which change every quarter (Discover and Chase), this is a reasonable alternative. With this card there is no need to keep track, or sign up.
The no-annual-fee VISA is nominally a 1% cashback credit card, but you earn a 25% bonus every month on all points earned during the billing cycle on net purchases (=purchases - credits - returns). The bonus effectively makes it a 1.25% cashback credit card.
First purchase earns $5000 bonus points which can be redeemed for a $50 cash deposit to a checking or savings account or as a statement credit to your credit card account. Bonus points are applied 6-8 weeks after first purchase and are not awarded for balance transfers or cash advances.
Points can be redeemed for cash back, travel with no blackout dates, merchandise and gift cards to retailers, restaurants, etc. Based on the promotional material, it definitely looks like it's a straightforward 1% redemption of points, iet: 2500 points = $25, 5000 points = $50, etc. There is no cap on the points which can be earned and you have at least 5 years to redeem.
Offer may be a targeted one so YMMV.
Edited to clarify that card is VISA.
1,356 posts since
Nov 2, 2010
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