Rewards on PSECU visa??

[score_building]

Even among those who PIF not all are rewards afficionados, though a disproportionate number may habitate forums.

When one considers having to scramble around for 2%-5% unless pumping through very large sums it simply isn't that big a deal/or the only draw for many.  

Rewards pay outs are generally such a miniscule portion of any ccc profit that it is kinda laughable when a ccc starts pulling the plug on their best rewards offerings as if to suggest this will increase profit margins in any meaningful way.

As PP PSECU has FREE EX, excellent record of member relations, nice CLs, is relatively lenient with their lending, offers decent BTs, same as purchase rate CAs, the PSLV to boost UTI data.  If they added the standard 1% rewards don't know that it would even illicit a woo hoo! I have other decent rewards cards, it is not a prerequisite that every card in my roster offer the pittance I can scare up from my best rewards cards.

Even pushing through significantly more than the average person each year, it is nothing to write home about, really it isn't.  Put simply 2%-5% ish rewards when one can scare them up just aren't the only incentive to app a card or worth the time chasing for everyone.  Whereas consistently strong terms, members services and FREE monthly EX score for eg. may be attributes that are attractive even in the absence of an ever changing rewards programme.

[haulingthescoreup]

I have a variety of "rewards" in my collection of cards. Many are honest-to-goodness rewards cards, mostly cash back. (My brain doesn't get points very well.) I consider others rewards cards because they do other things that help me out. Among these are CU (and USAA) cards, because they often have higher CL's. To me, that's a type of reward, because if I ever do have a large balance post on a card, even briefly, those high CL's cushion me from significant score changes for higher util.

Other types of non-rewards rewards: frequent 0% BT and purchase APR offers, excellent customer service, no foreign transaction fees...

I doubt that there's any such thing as one perfect rewards card that covers all bases.

[Odiseous]

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@Anonymous wrote:

I cant answer for anyone but myself, but...Im at the tail end of my 4 year credit repair process. Part of that process is moving from toy cards (<$500 limit cards) to "real" cards. Not many major CC issuers (Citi, BofA, etc) are willing to be the first one to give a nice credit line, and PSECU seems to be pretty good about doing just that. Because it has no AF, but no rewards (I have other rewards cards), it will be sock drawered and used once every 9-12 months to keep active. The point is, to help UTI, and to show other lenders you can handle a larger CL. Birds of a feather flock together, and that includes credit lines. If you have higher CL on your report, other lenders are willing to give you one.

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This is why I endorse a secured card as a credit starter/builder; if you an afford to invest the cash for a year. Pump in as much as you can, into the secured card toward the end of the year; then when the balance reports, apply for a prime card. Once you get 1 or 2 prime cards; cancel the secured card to get your money back. 

Using this process; I was only stuck in the <$500 (unsecured) bracket for 8 months. Then I jumped to the $2k (unsecured) bracket; after only building my credit from scratch for a total of 14 months (currently at 26 months).

The last card that tried to give me a $500 limit (BofA) I called the backdoor, and politely asked to cancel the card (I hadn't even activated it yet). They chose to match my request for $2k, instead. 

I'm in the process of playing with the AmEx 3x CLI rule. I imagine I'll be in the >$5k bracket soon. 

[android01]

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@thrasher865 wrote:

I think the reason most apply for PSECU is to see their EX FICO score.  The Visa may be an afterthought for some, perhaps?  I don't know.

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The EX score is exactly why I opened a PSECU account, but I didn't apply for any kind of credit with them.  I opened a standard checking and savings account, which I move money in and out of to show activity.  I'll write a check every now and then and also use the debit card occasionally.