THIS PAGE MAY CONTAIN AFFILIATE LINKS. MEANING WE RECEIVE COMMISSIONS FOR PURCHASES MADE THROUGH THOSE LINKS, AT NO COST TO YOU. PLEASE READ OUR DISCLOSURE FOR MORE INFO.
Credit Shout may collect a share of sales or other compensation from the links on this page.
The Verdict: The Virginia Credit Union offers the Visa Gold Rebate card to cardholders, which comes with a few benefits like no fees for balance transfers and no annual fee. The APR my be as low as 10.99%. Unfortunately, the tiered cash back system for this card makes it a bad choice for most consumers. Cardholders must spend over $10,000.00 each year just to earn 1% cash back, although there are dozens of cards available that earn an unlimited 1% or more cash back on purchases of any amount.
Overview: Virginia Credit Union offers two credit card options to members. The first option is the Visa Gold Rebate card, which offers a tiered cash back system to cardholders. The card does offer advantages, like no annual fee and no fees for balance transfers. Cardholders can also receive special discounts at select retailers like Dell and Home Depot by using their credit card for purchases. Still, the tiered cash back system is a major disadvantage to this credit card that holds it back tremendously.
How These Cards Work: The Visa Gold Rebate card is accepted worldwide and carries fraud protection from Visa to protect cardholders. The card has a 25-day grace period on purchases, which allows cardholders to avoid any interest charges by paying balances in full by the due date. Interest begins to accrue on balance transfers and cash advances on the transaction date, however. The rebate system for the Visa Gold card is tiered, which means cardholders earn 0.50% on annual purchases up to $4,999.99. Purchases between $5,000 and $9,999.99 earn 0.75% and purchases annually of $10,000.00 or more earn the full 1.00% cash back. The rebate amount is capped at $500.
Travel & Shopping Benefits: The Visa Gold Rebate card earns up to 1% cash back annually on purchases. This rebate level is tiered, however, and may be as low as 0.50% on some purchases. Cardholders also receive special Visa discounts while using their credit card at select retailers. Dicounts include up to 25% off Dell computers and the ability to shop as a guest at Sam’s Club. The VACU card also uses Verified by Visa, which protects the cardholder against identity theft and fraud by providing a unique password to use while shopping online.
Fees: There is no annual fee for the Visa Gold Rebate card and no penalty APR. The APR is based on credit worthiness and may be either 10.99%, 11.99% or 12.99%. There is no minimum interest charge with this credit card and no transaction fees for balance transfers, cash advances or foreign transactions. There is no over-limit fee, although the late payment fee is up to $35 and the returned payment fee is up to $25.
- No annual fee
- No fees for balance transfers and cash advances
- APR as low as 10.99%
- Visa discounts at retailers
- Must be a member of VACU
- Rewards system is tiered and requires high spending