topic Re: DCU Credit Cards in Credit Cards

DCU Rewards Visa

Cory88 — Sat, 23 Oct 2021 15:51:01 GMT

Does anyone know what kind of rewards the DCU Rewards Visa has? I have yet to find any info on it even on their website and trying to get a hold of a rep it like days wait. Thanks!

Re: DCU Rewards Visa

coldfusion — Sat, 23 Oct 2021 17:25:03 GMT

I believe that it's 1 point/dollar, redeemable for gift cards or merchandise through dreampoints.com with the normal redemption rate of 1 point == 0.83 cents.

The real value add of the card is that every January they offer 0% APR 0% fee balance transfers.

Re: DCU Rewards Visa

OmarGB9 — Sat, 23 Oct 2021 19:38:17 GMT

@coldfusion wrote:
I believe that it's 1 point/dollar, redeemable for gift cards or merchandise through dreampoints.com with the normal redemption rate of 1 point == 0.83 cents.

The real value add of the card is that every January they offer 0% APR 0% fee balance transfers.

How long are those 0% APR BTs for? Or does it just vary by profile?

Re: DCU Rewards Visa

coldfusion — Sat, 23 Oct 2021 21:24:56 GMT

@OmarGB9 wrote:
@coldfusion wrote:
I believe that it's 1 point/dollar, redeemable for gift cards or merchandise through dreampoints.com with the normal redemption rate of 1 point == 0.83 cents.

The real value add of the card is that every January they offer 0% APR 0% fee balance transfers.
How long are those 0% APR BTs for? Or does it just vary by profile?

The BT has to be made by January 31 and the promotional APR runs until your statement date in July.

Re: DCU Rewards Visa

OmarGB9 — Sat, 23 Oct 2021 23:03:19 GMT

@coldfusion wrote:
@OmarGB9 wrote:
@coldfusion wrote:
I believe that it's 1 point/dollar, redeemable for gift cards or merchandise through dreampoints.com with the normal redemption rate of 1 point == 0.83 cents.

The real value add of the card is that every January they offer 0% APR 0% fee balance transfers.
How long are those 0% APR BTs for? Or does it just vary by profile?
The BT has to be made by January 31 and the promotional APR runs until your statement date in July.

Hmm 6 months isn't bad to BT and slowly pay down post holiday shopping/vacation. I may have to look more into this. Thanks for the info!

Re: DCU Rewards Visa

coldfusion — Sun, 24 Oct 2021 13:32:22 GMT

You're welcome!

I pulled up this year's announcement which was sent out on Jan 1st.

DCU 2021 0% APR 0% fee BT announcement

As an aside they do sweeten the pot a bit by paying 6% interest (6.17% APR) on the 1st $1000 on deposit in a primary savings account.

Re: DCU Rewards Visa

greatscott85 — Mon, 25 Oct 2021 02:13:11 GMT

@coldfusion Thanks for this! I had been contemplating whether to PC to the rewards card or app for it. It honestly doesn't sound like a great program. My Platinum card is fine and only has 8.5% APR on the huge IF for carrying a balance.

THANKS!

Re: DCU Rewards Visa

RehabbingANDBlabbing — Tue, 26 Oct 2021 04:32:00 GMT

I have this card. I say skip the rewards version because the rewards kind of suck. It's 1 point per dollar and the redemptions aren't exactly 1 cent per point. It seems like they want to incentivie you to redeem more at one time to get 1 cent per point. They have a lot of different gift cards, including a Visa gift card. They only offer that one for $100 (10,000 points). I say get the basic one, which you can use for a low rate if you ever need to carry a balance. You get the BT offers with either card and you can also take cash advances for no fee.

Re: DCU Rewards Visa

bachi607 — Fri, 05 Nov 2021 14:30:07 GMT

Rewards are not great but BT offers are great every year... Jan 1st through Jan 31st any Balance Transfers(BT) made have 0% APR and no BT Fee , one of the best, I have $10,000 limit and I was thinking on how to invest but I might have to take a dip on my credit for about 6months...

DCU Credit Cards

Cory88 — Thu, 16 Dec 2021 14:22:55 GMT

What is the rewards that you get with the rewards version of the card? DCU reps told me it's on the website and I fail to see what is the points / cash you get on that card. Is their a credit score or credit line that you need to have to get the rewards version vs the non rewards? I'm hoping that on 01 Jan 2022 I have an offer for the credit cards as I will be with DCU 6m and the reps that I spoke to told me it takes 6m before offers generally appear.

Re: DCU Credit Cards

M_Smart007 — Thu, 16 Dec 2021 15:28:32 GMT

DCU is very vague in what they offer as far as rewards

I am pretty sure Underwriting would be the same for both cards?

I think most people go for the low APR of the Platinum card.

Maybe @coldfusion could clarify on the rewards structure of the rewards card? ..(He's the human encyclopedia of cards)

Benefits

Earn rewards - Turn your spending into rewards with points for everyday purchases.

I have been denied twice by them for a CC.

First time, "Too Many Inquiries" and or "Too Many New Accounts" ..(They're not wrong)

Second denial "Too Much Available Credit" .. (How can one have too much credit as a myFICO'er?)

I will now wait until or "IF" they give me the quarterly Pre Approved orange offer.

ETA: I believe they HP Equifax and use EQ F5 for their scoring model.

Upate: Confirmed Equifax Hard Pulls

Apr 27, 2021 DIGITAL FEDERAL CREDIT UN/CUDL
Oct 18, 2021 DIGITAL FEDERAL CREDIT UN/CUDL

Sorry for all the edits

Re: DCU Credit Cards

coldfusion — Thu, 16 Dec 2021 17:07:30 GMT

The rewards card earns you 1 point per dollar spend, and they have a promo during Christmas season that I think applies to both the rewards and non-rewards versions of the Platinum card that also earn you 1% cashback.

You click through their online site to redeem, options include merchandise, vendor-specific gift cards, or a vanilla Visa prepaid card. Gift cards value points as worth .83 cents each with redemptions in multiples of $25 (3,000 points) whereas the prepaid Visa is only available in multiples of $100 with points valued at 1 cent each (10,000 points).

There is no cashback or apply-to-card-balance option.

I've commented before here that IMO the card really isn't all that attractive other than every January they extend 0% APR 0% fee 6 month BT options.

Re: DCU Credit Cards

greatscott85 — Sun, 19 Dec 2021 05:43:27 GMT

Wholly agreed with @coldfusion here. The cards are just ok. But the limits can be decent and the preapprovals are nice.

Re: DCU Credit Cards

ptatohed — Sun, 19 Dec 2021 10:57:16 GMT

I wish providing a link was a requirement for this forum.

https://www.dcu.org/borrow/credit-cards.html

Re: DCU Credit Cards

Cory88 — Wed, 22 Dec 2021 14:44:41 GMT

Not to sound stupid, How do you know if you are pre approved for the one with no rewards or the one with rewards? I know the gold button that you click if you are pre approved. It the knowing is what APR you are getting is what if it rewards card or not?

Re: DCU Credit Cards

coldfusion — Wed, 22 Dec 2021 16:52:50 GMT

You aren't sounding stupid, it's a very reasonable question and it's better to ask now so you know what you would be accepting before you did it.

If the preapproval is for a "DCU Platinum Visa Rewards" it will specifically say so, else it will just say "DCU Visa Platinum"

(I have the Rewards card but am deservedly not preapproved for a CLI this cycle)

The other potential tipoff is that if the preapproval shows an APR of between 8.5% and 11% it's definitely going to be for the non-rewards card.

Re: DCU Credit Cards

Cory88 — Wed, 22 Dec 2021 17:21:25 GMT

I will be at 6m in Jan so I hope to see an offer. My FICO 5 last update was 756. I have for this whole month made sure that they report a zero balance to hope to get the score up a little more. I have very small balance with everything instalments and credit cards $2600, with $600 for credit card and $2000 for student loans that are in repayment.