BCU Visa Signature Credit Card Review | CreditShout

BCU Visa Signature Credit Card Review

By Christine Layton / November 30, 2011

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Verdict: The BCU Visa Signature card has many benefits for cardholders. This credit card is the elite offering from the credit union and offers no pre-set spending limit, a low, fixed rate, an excellent rewards program and high-end travel benefits. With 24-hour concierge service, exclusive access to events and more, this credit card is the ideal choice for cardholders who travel frequently and have a high spending limit. Although there is an annual fee of $99 after the first year, cardholders may avoid this by maintaining $25,000 in investment accounts. Still, this cost may be worth it to many members who want a high-end card.

Overview: BCU offers four credit cards to members, with the Visa Signature being the elite option. This credit card has no pre-set spending limit and is designed for cardholders who have high spending levels, desire excellent travel benefits and want to earn rewards for their purchases. This credit card earns up to two points per dollar spent and cardholders can earn up to 20,000 bonus points in their first year. Overall, this credit card is a great choice for members who want an elite credit card with the best benefits and a low, fixed rate.

How These Cards Work: This credit card includes excellent fraud protection and zero liability for fraudulent purchases. There is no annual fee for the first year, after which the fee is $99. To avoid the annual fee after the first year cardholders must maintain at least $25,000 in share or investment accounts. The rewards program earns two points per dollar for gasoline, groceries and restaurant purchases and one point for every $1 on everything else. 10,000 bonus points are awarded upon activation. After $50,000 in annual spending, cardholders earn an additional 10,000 bonus points and begin to earn ywo points per dollar on hotel and airline purchases as well.

Travel & Shopping Benefits: This card has a wide range of travel and shopping benefits. Cardholders have 24-hour access to the Signature Concierge Service, along with exclusive access to a range of entertainment and sporting events. This card includes auto rental insurance and travel and emergency assistance services, which provide cash disbursement, card replacement and more. Zero liability protection is also automatic. In addition to these benefits, cardholders enjoy Signature benefits like ID theft protection and restoration, lost luggage reimbursement and emergency medical and dental services. This card also has a rewards system that earns one-two points per dollar spent.

Fees: There is no annual fee for the first year with the Visa Signature card, although the fee is $99 annually afterward. The APR is a non-variable 8.90% to 10.50%, depending on credit history. This rate applies to purchases, balance transfers and cash advances. Balance transfers have an introductory rate of 6.90% for 540 days from the issuance of the card, if eligible. There is no fee for foreign transactions. Cash advances are subject to a 3% fee, with a minimum of $5 and a maximum of $50. The penalty fee for late and returned payments is up to $25. The statement copy fee is $2. The rush fee for next business day is $30, or $20 for the second business day.

Pros:

  • No annual fee for the first year
  • No pre-set spending limit
  • 10,000 bonus points upon activation
  • Excellent rewards program
  • Exclusive benefits
  • Fixed rate as low as 8.9%

Cons:

  • Must be a member of BCU
  • $99 annual fee after first year
  • Relatively high fees
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone.Additionally, the opinions of the commenters are not necessarily the opinions of this site

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