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Verdict: There’s a reason why members and former members of the Armed Services and affiliated defense organizations turn to the Pentagon Federal Credit Union for their credit cards: This credit union specializes in providing them with credit cards that come with both generous rewards programs and reasonable interest rates. The Coast Guard Auxiliary Association Cash Back credit card from Pentagon Federal Credit Union is no exception.
Overview: This card comes with a three-tiered cash-back system. You’ll earn a greater amount of cash back when you use the card to purchase gasoline and products from your local supermarket. You will, though, earn cash back on every transaction that you make with your card.
How This Card Works: You’ll receive your cash-back dollars in the form of a statement credit at the end of every month. There is a catch with this card, though: As its name suggests, you must be a member of the Coast Guard Auxiliary Association or the U.S. Coast Guard Auxiliary to apply for this credit card.
Travel and Shopping Benefits: With most purchases that you make with this card, you’ll earn 1 percent in cash-back dollars. If you use your card to make supermarket purchases, though, you’ll receive a cash-back bonus of 2 percent. Finally, if you use your card to pay for gas at the pump, you’ll earn a cash-back bonus of 5 percent. You’ll also be supporting the Coast Guard Auxiliary Association when you use this card; 0.25 percent of all the dollars you charge with this card go toward supporting the association.
Fees: The Coast Guard Auxiliary Association Cash Back card comes with a reasonable purchase interest rate of 13.99 percent; this is lower than the rates that come with most cards that feature generous rewards or cash-back programs. This card also offers an introductory interest rate of 2.99 percent on all balance transfers for the first 12 months after you activate your account. There is no annual fee or cash-advance fee with the card, either. If you make a late payment or send in a payment that must be returned because of insufficient funds in your account, you will have to make a penalty payment of as much as $25.
- No annual fee.
- Generous rewards program.
- No cash-advance fees.
- Must be member of U.S. Coast Guard Auxiliary Association to apply for this card.