Stanford FCU Tech Card. Any experiences?

[Alephbet]

I am curious about the new Stanford Federal Credit Union (SFCU) Tech Card credit card. Anyone a current customer of theirs and can comment on this card or any others? I noticed them due to the bank account bonus currently available from them but have not joined yet due to the hard pull for membership as far as I can tell. The SFCU Tech Card gets you 3X points at Amazon, Google, and Apple as well as 2X on dining and groceries and 1X everywhere else. I'm aware that there are better or equivalent cards for these categories but there is also a 1% cash bonus for Ambassador level members as well. I'm curious how this works in practice. Do you get 3X points and then a separate 1% cash back somehow? I will be calling them and asking them more but was curious if anyone had any firsthand experience with SFCU and their cards. Are they a pretty good credit union to deal with?

[Bockrocker]

Looks like it's separate, goes straight into a deposit account.  The hoops seem like a lot though especially considering the limits and the fact that there are many flat 2% cards.

3x category $120/y cb limit ($4000 spend)

2x category $60/y cb limit ($3000 spend)

1% ambassador match $25/m cb limit ($2500 spend)

Maybe worth getting if it is under the same hard pull as the checking.  $500 + $250 is worth a hard pull for sure.

[Alephbet]

I apparently did not look closely enough at all. Now that I look again I see the disclosures. What small bonus category caps. Those caps wouldn't last me more than a couple of months on lower spending months. I specifically avoid cards with caps because I often run into those caps. 

From what I read here, the same hard pull would work for membership as well as any other products for 30 or 60 days. Unless I apply for membership and want ambassador benefits which having a credit card helps qualify one for, the SFCU credit cards are a pass for me. I'm not sure if their High Yield Checking is worth it. 

[GhostCredit]

Now, they're offering an extra 2%, for the groceries I saw its now 4% but you have to spend $500/m and also have a min balance of $50k...

[xenon3030]

It is not surprising. Everything nearby Stanford has a fee and it is less likely to receive large CC rewards there. As an example in the ecosystem in that region, they even charge $100, if somebody wants to get a library card at Stanford

Coming back to Stanford FCU. Those guys are super picky and sensitive to Chex. Anyway, if you can get the $620 SUB on checking, it would be great. 

[ptatohed]

It could be a nice card for someone since it could be a 3% catch all card, while offering up to 5% on a few categories. But, those hoops to be Ambassador seem incredibly onerous. And, yeah, there are caps.

[CreditOnion]

I'll share my recent experiences with this card (and the CU as a whole).

I had to get a nw auto loan recently, and I (mistakenly) thought their rate was the lowest around for the term I wanted. It turns out the page listing the rates was a bit misleading, and didn't catch it until after I applied. Oh well, live and learn.

Anyway, I do have the card and have the Ambassadors level membership (auto loan, minimum spend per month on their CC, plus DD requirements). Both the CC and auto loan used the same HP, and I was able to get the $620 in SUB for the checking account. So that was nice.

Super friendly and helpful staff. Really went the extra mile in gettinkg things setup and going quickly, I can't recommend them enough. If there hadn't been the miscommunication/misunderstanding on the auto loan rate (which is probably 75% my fault), I'd whole heartedly recommend them. As it is, I may refinance my autoloan to DCU in a few months to save 0.25% (or more of rates do come down).

But the CC has been great - I mostly use it for recurring charges that are non-category, so they stay within the 3% limits.

[CreditOnion]

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@CreditOnion wrote:

I'll share my recent experiences with this card (and the CU as a whole).

I had to get a nw auto loan recently, and I (mistakenly) thought their rate was the lowest around for the term I wanted. It turns out the page listing the rates was a bit misleading, and didn't catch it until after I applied. Oh well, live and learn.

Anyway, I do have the card and have the Ambassadors level membership (auto loan, minimum spend per month on their CC, plus DD requirements). Both the CC and auto loan used the same HP, and I was able to get the $620 in SUB for the checking account. So that was nice.

Super friendly and helpful staff. Really went the extra mile in gettinkg things setup and going quickly, I can't recommend them enough. If there hadn't been the miscommunication/misunderstanding on the auto loan rate (which is probably 75% my fault), I'd whole heartedly recommend them. As it is, I may refinance my autoloan to DCU in a few months to save 0.25% (or more of rates do come down).

But the CC has been great - I mostly use it for recurring charges that are non-category, so they stay within the 3% limits.

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One more thing to add: I was approved for a (sizeable) auto loan almost instantly but when I applied for the CC later they asked for income verificaiton. This is the first time that's ever happened to me but it was a quick and easy process, and I got approved with a $30K SL.

[ptatohed]

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@CreditOnion wrote:

I'll share my recent experiences with this card (and the CU as a whole).

I had to get a nw auto loan recently, and I (mistakenly) thought their rate was the lowest around for the term I wanted. It turns out the page listing the rates was a bit misleading, and didn't catch it until after I applied. Oh well, live and learn.

Anyway, I do have the card and have the Ambassadors level membership (auto loan, minimum spend per month on their CC, plus DD requirements). Both the CC and auto loan used the same HP, and I was able to get the $620 in SUB for the checking account. So that was nice.

Super friendly and helpful staff. Really went the extra mile in gettinkg things setup and going quickly, I can't recommend them enough. If there hadn't been the miscommunication/misunderstanding on the auto loan rate (which is probably 75% my fault), I'd whole heartedly recommend them. As it is, I may refinance my autoloan to DCU in a few months to save 0.25% (or more of rates do come down).

But the CC has been great - I mostly use it for recurring charges that are non-category, so they stay within the 3% limits.

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Thanks for this write-up CO!