California Credit Union Rewards Visa (5X GGR and Streaming)

[bs1234]

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@portlandmusician wrote:

I called and spoke to a CS rep. They told me I would have to call Rewards Visa directly at 866-904-0852 for that information. I pointed out it was their card, backed by their back, and they (nicely) explained to me it didn't matter, it was still VISA and for the information regarding the rewards redemption rate I would need to call them.

Seems like a misinformed rep... but I tried.

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This is relatively common with some CUs where the reward process is handled by a third party such as CU Rewards.   Here they use "Exclusive Rewards" which does seem to be their own.

[bs1234]

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@Kforce wrote:

What I bet is we all get different answers.

Need to find a "Guinea Pig to get the card, or maybe a current user is in the form will see the post.

Some CU employee must have the card and be able to answer our questions.  

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I would (almost Smartly 1 level) surprised is the points were 1:1 given the very generous earning rate.  But even 0.8cpp would be good

[Kforce]

My list of question's, let me know if you have an add on !

1. Do point's expire ?
If so when ?

2. Redemption methods ?
Deposit In-house, Other CU/bank's, Statement Credit
Gift Cards, Etc. ?

3. Point threshold's for each redemption method ?
Redemption's  in chunks, $25_$50 or anything > $xx ?

4. Point value for each method __ 0.5, 0.8, 1:1 ?

5. Points credited as they post, end of statement period,
quarterly, yearly ?

6. Is auto pay able to be set up ?

7. Do you allow external billpay ACH card payments ?

8. What credit bureau do you pull for card application's ?

9. For CU membership do you use "Chexsystems" ?

[ptatohed]

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@Kforce wrote:

My list of question's, let me know if you have an add on !

1. Do point's expire ?
If so when ?

2. Redemption methods ?
Deposit In-house, Other CU/bank's, Statement Credit
Gift Cards, Etc. ?

3. Point threshold's for each redemption method ?
Redemption's  in chunks, $25_$50 or anything > $xx ?

4. Point value for each method __ 0.5, 0.8, 1:1 ?

5. Points credited as they post, end of statement period,
quarterly, yearly ?

6. Is auto pay able to be set up ?

7. Do you allow external billpay ACH card payments ?

8. What credit bureau do you pull for card application's ?

9. For CU membership do you use "Chexsystems" ?

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That's awesome, thanks Kf.  Much appreciated. 

The only other thing I can think of, and it's not that critical, is maybe confirming that it is $6k spend per year (not $1.5k per quarter), and that the Streaming has its cap and the GGR has its separate cap.  

Thanks!

P.S.  I have not received a reply back from my message to them yesterday.  

[Bockrocker]

Looking at internet archive the card was earning 3x on GGR as recently as June.  Hopefully they don't lure everyone in just to nerf it back 😂 Although 3% for those is still quite decent for most people.

[CreditCuriosity]

Guess these point are not equal to 1cpp and likely gc renewal just speculating.  Wish you all luck though

[Kforce]

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@CreditCuriosity wrote:

Guess these point are not equal to 1cpp and likely gc renewal just speculating.

Wish you all luck though

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Most likely you are correct.  

Not planning a special trip to check this card out.

Figured I would help others because it is so close to my CU branch.

Will stash the question's in the glove box and next time I am there, drop in and try and find some answers.

Always fun to ask question they have no answers too, and let them call others who also don't know.   

AKA : Entertainment for the retired.

[ptatohed]

Well, I received an answer.    You can see a didn't ask all the questions we'd like to ask but I did ask the big one - are points worth 1c when redeeming for cash?  And, according to this guy, they are!  

Good afternoon!

Thanks for reaching out for your question about the Visa Rewards product.

You noted - Hi. I am very interested in your Rewards Visa. I see that Streaming, Gas, Grocery, and Restaurants earn rewards at 5X. Can you tell me if the redemption rate is 1 cent per point when redeeming for cash (ex. is the 20,000 Introductory Bonus Points offer worth $200 when redeemed for cash?)? Thank you! - <ptatohed>

Yes, when redeeming the points the dollar value is 1% of the number of points.  So, for 20,000 points x 0.01 (1%) = $200

To earn 20,000 Introductory Bonus Points, you must spend $1,500 within the first 90 days of account opening.

<Nice Banker Dude who got back to me in less than 24 hours>
Senior Financial Services Representative |  Member Engagement Center

California Credit Union
North Island Credit Union, a division of California Credit Union

[CaneVariant]

North Island Credit Union is down the street. I'll head in Saturday to reconfirm. They also have pretty good 9 month CD I might try out.

[bs1234]

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@ptatohed wrote:

Well, I received an answer.    You can see a didn't ask all the questions we'd like to ask but I did ask the big one - are points worth 1c when redeeming for cash?  And, according to this guy, they are!  

Good afternoon!

Thanks for reaching out for your question about the Visa Rewards product.

You noted - Hi. I am very interested in your Rewards Visa. I see that Streaming, Gas, Grocery, and Restaurants earn rewards at 5X. Can you tell me if the redemption rate is 1 cent per point when redeeming for cash (ex. is the 20,000 Introductory Bonus Points offer worth $200 when redeemed for cash?)? Thank you! - <ptatohed>

Yes, when redeeming the points the dollar value is 1% of the number of points.  So, for 20,000 points x 0.01 (1%) = $200

To earn 20,000 Introductory Bonus Points, you must spend $1,500 within the first 90 days of account opening.

<Nice Banker Dude who got back to me in less than 24 hours>
Senior Financial Services Representative |  Member Engagement Center

California Credit Union
North Island Credit Union, a division of California Credit Union

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I'm impressed, the message with the explicit calculation does look like more than a made-up guess by a clueless rep!