Redstone FCU: No more statement credits?

dlister70 — Thu, 20 Apr 2023 17:36:42 GMT

I just tried to redeem cash back on my Redstone FCU Signature Visa for the first time, and found that it would only let me deposit into an FCU account. I've always done statement credits on my Rural King card from FCU in the past, but I checked that card and the only option listed was deposit as well.

I had to call the credit union to figure out what my savings account number even was because I never use it, but the order seems to have gone through after I picked depositing it into their savings and entering the account number. I'll keep an eye on it and make sure it actually deposits in the next few days.

It did have an option to automatically deposit after meeting a certain point threshold either monthly or quarterly, which is kind of nice. But honestly, I'd rather just have a statement credit. Now I have the additional step of waiting for the deposit and then making a payment from the savings account. Or transferring it out of their savings to one of my regular accounts that I actually use.

I suppose that it's a minor inconvenience given how useful their credit card is to me, but it's still annoying that they changed from doing statement credits. I'm sure that they're trying to get members to use their accounts, but the APY on their basic savings account is only 0.81%, so I'm certainly not leaving any money in that account.

Re: Redstone FCU: No more statement credits?

hawkins — Fri, 21 Apr 2023 13:24:05 GMT

@dlister70 wrote:
I just tried to redeem cash back on my Redstone FCU Signature Visa for the first time, and found that it would only let me deposit into an FCU account. I've always done statement credits on my Rural King card from FCU in the past, but I checked that card and the only option listed was deposit as well.

I had to call the credit union to figure out what my savings account number even was because I never use it, but the order seems to have gone through after I picked depositing it into their savings and entering the account number. I'll keep an eye on it and make sure it actually deposits in the next few days.

It did have an option to automatically deposit after meeting a certain point threshold either monthly or quarterly, which is kind of nice. But honestly, I'd rather just have a statement credit. Now I have the additional step of waiting for the deposit and then making a payment from the savings account. Or transferring it out of their savings to one of my regular accounts that I actually use.

I suppose that it's a minor inconvenience given how useful their credit card is to me, but it's still annoying that they changed from doing statement credits. I'm sure that they're trying to get members to use their accounts, but the APY on their basic savings account is only 0.81%, so I'm certainly not leaving any money in that account.

Ahh first world problems LOL!!! I much prefer the cash sent to my account to use as I please. But that's just me.

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Redstone FCU: No more statement credits?

Re: Redstone FCU: No more statement credits?