The skinny on the rewards:
- 3% on Grocery/Convenience Store
- 2% on Gas
- 1% on everything else.
- No redemption threshold. Automatically credited to each statement.
- $500 spend in a month gets you 3.59% interest rate on checking up to $15K
- $1000 spend in a month gets you 4.59% interest rate on checking balance up to $20K
My story:
This is not a card or a credit union often discussed here, but it's turned out to be a great instituion and a great card for me. So far as I know, there are 2 Consumers Credit Unions, and I'm talking about the one based in Illinois. I opened an account with them (anyone in the US can, there's no residency requirements) in late 2014, and they offered me a credit card with it. At the time, they were only able to do their Platinum "rewards" Visa, which was useless as far as rewards was concerned, except the fact that I could get a higher interest rate on my checking account if I swiped it a certain amount of times. At that time, they gave me a $2500 limit. I wasn't too impressed as I had better limit, better rewards cards.
But boy did it grow with me. About half way through 2015, they auto-raised my limit to $10,000. A month after that, they sent me a letter giving me the option to upgrade to one of their Signature Rewards cards. I picked the cash rewards one, which has an identical rewards structure as the Amex BCE, except that the cashback is automatically credited from each month's statement regardless of the amount (no waiting to build it up and no effort to redeem), and that it's a Visa, and so has an overall greater acceptance. I do on occasion shop at grocery markets that don't take Amex (especially Asian markets), so this is pretty great.
I log into my account today, and there's a new credit limit on my card. $15,000. A fairly large limit for me, but what is really cool is this: For the card to go from a $2500 Visa Platinum 1x "CU points" rewards to a $10,000 Visa Signature with good, usable cash rewards and then to a $15,000 limit took less than 2 years in total, and it took NO effort on my part. No having to request SP CLIs, no figuring out the art of product change (they offered, I didn't ask).
For some of you this won't be worth it. There's no sign-up bonus. But in addition to the CC rewards, you get 3.59% interest on your checking up to $15K if you run $500 through it, and 4.59% on up to $20K if you run $1,000 through it in a month (in addition to swiping your debit card 12 times).
Just thought I'd share. 
Good CU. Open membership. TU puller. I have often considered joining. But, I already have way too many CUS to keep up with. Maybe after I ditch NASA and will join. 
@CreditCuriousity wrote:Interesting info.. Thanks for the nice post about the checking return if you spend x amt on the card as that is a pretty good return above the normal rewards for groceries,etc.. Sounds like a neat program overall.
It's kind of like a sign up bonus that you can earn every month. 
Only difference is that the return on your checking account is interest and therefore may be taxable. Lol at this point I am hoping Amex launches a new product with BCE type rewards but different categories so I can PC my BCE to that. My BCE is staying put at any rate for Amex Offers of course.
Great story. They're now on my list. Question: Did you apply for the checking account in person,
at which time they offered the card? Also, did your scores change much in the 2 years?
Thanks for sharing!
Edit: I just noticed - No Fee Balance Transfers
Congrats to you !!!
Congrats, and nice story.
