Did you ever apply? It popped up my radar today too.
@ptatohed wrote:Assuming a penny per point, that is a pretty nice selection of 3% cats.
Earn three points per dollar spent at gas stations, grocery stores, discount stores, restaurants and fast food locations. Earn one point per dollar spent on all other purchases.
https://www.umb.com/personal-banking/credit-cards
Discount stores is the standout as that's a difficult cat to get 5% in.
FYI, @ptatohed, OP wasn't applying for that linked card (Simply Rewards.) He mentioned the APMEX precious metals exchange "Bullion" Visa Card which has enhanced rewards on precious metals investments. But yes, that Simply Rewards is a pretty decent card. I product-changed into it several years ago.
@Kforce wrote:
@Aim_High wrote:FYI, @ptatohed, OP wasn't applying for that linked card (Simply Rewards.)
But yes, that Simply Rewards is a pretty decent card.
I product-changed into it several years ago.
Are the points 1c each, 3% cashback?
How are the points redeemed?
Do you like the institution or had any problems?
I realize a little off OP, but I like the card as an option for my daughter.
Looking at a few others also.
Want a 3% across at least 4 cat's with no or high limits.
This looks very nice.
Thanks ;
Sorry for the delay in answering @Kforce. I've been traveling this week.
The AFBA/UMB card is currently my 2nd oldest card, which is one reason I have hung onto it. I got it in 1997 as a low APR card affiliated with the Armed Forces Benefits Association (AFBA) since I am a veteran. (The AFBA no longer offers credit cards but did at that time.) When I got it, the card was issued through 5 Star Bank in Colorado. Rewards credit cards were less common back then and I liked having this card for what was at the time a good APR. A few years later, the affiliation was transferred to UMB. My original UMB card had poor rewards (more like a credit union 1% card) and I didn't use it much for purchases. However, I did use it for some BT offers. Later, I was able to product-change it into the Simply Rewards. Over the years, it has had periods of increased use but it's mainly a sock drawer card for me now. I'll explain why in a minute.
- The rewards structure is respectable with the 3% (yes, a penny-a-point so essentially 3%) on restaurants, gas, groceries, and discount stores with no AF and no spending caps. It earns just 1% elsewhere. Product-changing into Simply Rewards definitely made this card more useful in a rewards perspective, but I now have other cards that earn 3% or higher on all those categories. I agree that, as a rewards card, it could be a contender for a simple wallet. I earn more than 3% on restaurants with my Chase Sapphire Reserve, BofA Premium Rewards Elite, or Verizon Visa. I earn more than 3% on gas with my CITI Costco or Verizon Visa. I earn more than 3% on groceries with my BofA CCR or Verizon Visa. I earn 3% on my AOD FCU Visa uncategorized, up to $1500 per month. So overall, this card is in the ball park for good rewards but doesn't exceed my other cards. YMMV.
- I haven't done an extensive comparison, but I did find that I sometimes didn't get "discount store" rewards where I expected to, such as at a Family Dollar store once.
- Rewards can be redeemed starting at 2500 points for a $25 statement credit. You can also redeem for "Pay Me Back" for charges within the past 90 days. *There is no provision to put cash rewards into a bank account. The rewards portal also allows redemption for merchandise, travel, events, and gift cards. Like most rewards portals, I've usually found poor value when I compared merchandise options. I've never used the travel or events rewards. Gift cards redeem at 1 cent per point normally starting at $25 minimum, just like statement credit. Of course, there is a nominal amount lost on the rewards opportunity cost when redeeming for gift cards so a little less than 3% on the higher categories.
- I got some attractive Balance Transfer offers on this card, including one that was a low APR until paid-in-full. I used it during my period of financial distress when I was rolling around some larger balances. I believe the BT offer helped me to get a CLI on this card. I've never put heavy spending on it, so am unsure how easy it is to get auto CLI through spending. Requested CLI are hard pulls.
- As more of a regional bank and the 54th largest in the nation, UMB's technology has never really impressed me. Their website and mobile app were severely out-of-date until a few years ago when they did a major update. It was an improvement but it still has a very basic interface.
- My affiliate card is not contactless, which I have grown to enjoy on my other cards. (I've never asked if they would just convert the card to their own card.) The UMB website appears to show the Simply Rewards as a contactless card. My card does have chip technology, at least.
- My biggest disappointments with UMB are fraud prevention and customer service. I've had a few instances of fraud. My other lenders are much more proactive and often see the fraud before I detect it, contact me, and replace my card quickly. I've never had UMB detect fraud, and they have asked me to fill out paperwork and snail mail it back to process the incident. However, they've always reimbursed me. Customer service has seemed to lag my larger lenders when I've needed to contact them. The past few years, I've put mainly "keep-alive" charges on the card since I believe it was compromised at point-of-purchase and was annoyed with the fraud issues. I highly value active fraud detection on my credit cards.
- I cannot speak to their current underwriting requirements due to how my affiliate card was transferred to them and how long I've had it.
- From my understanding, there are geo-footprint restrictions to be eligible for UMB's cards. Per this posting from @swankytiger,
the card is geofenced to states where UMB has a physical branch. UMB Bank branches and ATMs are located in the following states:
Overall, I won't say not to get this card, but my customer experience has been mixed.
There was one other point that I forgot to mention, especially as it pertains to my situation where I sock-drawered the card and periodically added "keep alive" charges. Unlike many rewards programs where points never expire, the Simply Rewards Program Rules state that points expire the 5th year after they were earned. Since there is a minimum $25 redemption, there is the chance of losing rewards if the account goes idle. They won't remind you and I had this happen before.