Today I came across Sunmark FCU Debit Card program where one can earn 2 points/$ & 3 points/$ if they spend > 10,000$/yr.
From the debit card rewards site, it seems the reward points can be redeemed for minimum of 25$ amazon gift cards or upto 100$ Amazon gift cards or 250$ Mastercard gift cards. However, the site does not clarify, how many points are needed to redeem the gift cards, so IT's NOT CLEAR YET IF 1 POINT = 1 CENT.
Since many of us here, use Plastiq to pay bills and mortgages, Plastiq charges a 1% fee on debit cards, so these debit cards could give a ~1% discount (or 2% if spend > 10k$) on mortgage and other bills paid via plastiq if each point is equal to 1 cent.
So, in short, does anybody know
1) what is the $ value of the points earned in Sunmark FCU Debit card rewards?
Will note it's not clear what qualifying purchases are either. Doesn't look like a nation-wide accessible CU regardless?
If you are qualified, go guinea pig
In case, anyone is still curious,
The CU has a chat option with member services rep and so i asked. The points earned are valued at 0.2 cents when redeeming for gift cards. So even with 3 points/$ earned, one is earning at most 0.6% cash back which is a pretty bad rate.