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The Verdict: Members of the Hudson Valley Federal Credit Union will find the Points Rewards card is an excellent choice with a number of options. The card has many travel and shopping benefits, including extended warranties, emergency help and insurance, along with a simple variable APR and no annual fee. The rewards system allows the cardholder to redeem points for merchandise or travel while combining point earnings from a Visa check card as well. Overall, this card is a strong offering that combines many features consumers are looking for.
Overview: Hudson Valley Federal Credit Union offers three credit cards to members, with the Points Rewards card being the most flexible. All three cards share much in common, such as standard travel benefits and low variable rates. The Points Rewards card, however, uses ScoreCard program and allows cardholders to earn bonus points or exchange rewards for merchandise and travel. Along with the other benefits of this card, the Points Rewards credit card is a solid choice for most consumers.
How This Card Works: This credit card is accepted worldwide through the Visa system and includes a 25-day grace period on purchases. If the balance is paid in full during this period, no interest charges accrue. Balance transfers may be completed with the card with no fees, whereas most credit card companies charge 1-4%. The variable interest rate on the card applies to not just purchases but cash advances and balance transfers as well. The Points Rewards card uses the ScoreCard program, which allows cardholders to redeem points for merchandise and travel from the catalog. To earn even more, points earned from a Visa check card may be combined with those earned with the Points Rewards credit card using ScoreMore. One point is earned for every dollar spent and points remain valid for six years. Shopping through select retailers through the ScoreMore system allows cardholders the opportunity to earn up to four points per dollar, maximizing earnings.
Travel & Shopping Benefits: The Points Rewards card has the same standard travel and purchase benefits as the other cards offered by the credit union. Cardholders automatically receive $1,000,000 in travel accident insurance that covers the entire family in case of accident or injury. Vehicles rented with the card are also automatically enrolled in auto rental collision coverage, which can be used as secondary coverage allowing the cardholder to decline this optional insurance from the rental agency. Eligible purchases made with the Points Rewards card qualify for upgraded warranties and extended service agreements as well. Other benefits include emergency cash and ticket replacement, help with lost luggage and replacement of medical devices, medicine and corrective lenses.
Fees: All credit cards offered by the credit union have no annual fee or penalty APR. The Points Rewards card currently has a variable APR as low as 12.25%, which applies to balance transfers, cash advances and purchases. Cardholders may make unlimited balance transfers, all at no fee. A 1% foreign transaction fee is the only transaction fee imposed and this is an outside fee run through Visa.
- No annual fee
- A single, low APR
- $1,000,000 in travel insurance and extended warranties on purchases
- Unlimited fee-free balance transfers
- Points can be redeemed for merchandise and travel
- Combine points earned from a Visa check card
- Must be a member of the Hudson Valley Federal Credit Union to apply
- Some cardholders may prefer cash back rewards