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RBFCU CashBack Rewards card review

RBFCU CashBack Rewards card review

Published: December 11, 2017
Ratings Policy
Cash Back Rating:
3.9 rating
3.9 rating
3.9 / 5
Rewards Value: 3.9
Annual Percentage Rate: 4.7
Rewards Flexibility: 4.3
Features: 3.0

In a nutshell:

This 2 percent cash back rewards card is a great deal for current RBFCU customers.

Rewards Rate
2% cash back on every purchase

Sign-up Bonus
None

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$318

APR
10.9-18% (variable)

Rewards Redemption
Pros

  • Rewards don’t expire
  • No limits on how much you can earn
  • Redeem any amount at any time
  • Redeem as deposit to checking or savings account
  • Cash back automatically deposited at end of year if you don’t redeem it

Cons

  • You can’t transfer cash to other rewards programs
  • You can’t redeem rewards for noncash rewards, such as gift cards or merchandise

Other Notable Features: No foreign transaction fee, car rental insurance, extended warranty, price protection, emergency card replacement, emergency cash advance, identity-theft services, zero fraud liability

Low Interest Rating:
2.6 rating
2.6 rating
2.6 / 5
Rates, Fees, Penalties: 2.5
Rewards: 3.6
Features: 3.0

In a nutshell:

This low-rate card can save you money on balance transfers thanks to its fairly long 0-percent introductory period and lack of a balance transfer fee; but cardholders seeking to finance a new purchase are better off with a card that offers a 0-percent APR on new purchases.

Regular APR
10.9-18% (variable)

Introductory Purchase APR
None

Introductory Balance Transfer APR
0% for 12 months

Fees

  • No annual fee
  • No balance transfer fee
  • No foreign transaction fee
  • No cash advance fee

Penalties

  • $20 late payment fee
  • No penalty APR
  • $24 returned payment fee

Other Notable Features: No foreign transaction fee, car rental insurance, extended warranty, price protection, emergency card replacement, emergency cash advance, identity-theft services, zero fraud liability

No Annual Fee Rating:
3.9 rating
3.9 rating
3.9 / 5
Rewards Value: 3.7
Annual Percentage Rate: 3.9
Rewards Flexibility: 4.3
Features: 3.0

In a nutshell:

This no-annual-fee card offers a high rate of cash back on every purchase; unfortunately, it’s only available to customers in Texas.

Rewards Rate
2% cash back on every purchase

Sign-up Bonus
None

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$318

APR
10.9-18% (variable)

Rewards Redemption
Pros

  • Rewards don’t expire
  • No limits on how much you can earn
  • Redeem any amount at any time
  • Redeem as deposit to checking or savings account
  • Cash back automatically deposited at end of year if you don’t redeem it

Cons

  • You can’t transfer cash to other rewards programs
  • You can’t redeem rewards for noncash rewards, such as gift cards or merchandise

Other Notable Features: No foreign transaction fee, car rental insurance, extended warranty, price protection, emergency card replacement, emergency cash advance, identity-theft services, zero fraud liability

Rewards Rating:
3.2 rating
3.2 rating
3.2 / 5
Rewards Value: 3.1
Annual Percentage Rate: 4.1
Rewards Flexibility: 3.3
Features: 3.0

In a nutshell:

Customers of RBFCU can’t do much better than this highly rewarding cash back card, though it’s only available in Texas.

Rewards Rate
2% cash back on every purchase

Sign-up Bonus
None

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$318

APR
10.9-18% (variable)

Rewards Redemption
Pros

  • Rewards don’t expire
  • No limits on how much you can earn
  • Redeem any amount at any time
  • Redeem as deposit to checking or savings account
  • Cash back automatically deposited at end of year if you don’t redeem it

Cons

  • You can’t transfer cash to other rewards programs
  • You can’t redeem rewards for noncash rewards, such as gift cards or merchandise

Other Notable Features: No foreign transaction fee, car rental insurance, extended warranty, price protection, emergency card replacement, emergency cash advance, identity-theft services, zero fraud liability

For cardholders who live in the vicinity of a Randolph-Brooks Federal Credit Union, the RBFCU CashBack Rewards credit card is an excellent deal. The card offers a high rate of 2 percent cash back on every purchase – one of only a handful of cash back cards that do so – as well as the ability to finance a balance transfer at 0 percent for 12 months with no balance transfer fee.

Unfortunately, the RBFCU CashBack Rewards card is limited in its availability. Only cardholders living in Texas are eligible to apply.

2 percent cash back for RBFCU customers

The RBFCU CashBack Rewards card is one of few cash back rewards cards to offer 2 percent cash back on every purchase. And, RBFCU makes it fairly simple to redeem your cash back rewards – your rewards don’t expire and you can deposit any amount of cash back at any time into an RBFCU checking or savings account.

On the downside, redeeming your rewards as a bank deposit is your only option with the RBFCU CashBack card – you can’t redeem your rewards for gift cards or merchandise and you can’t transfer your cash back to another card. Basically, the card’s rewards program is limited to RBFCU customers.

If you are looking for a cash back card that isn’t tied to a bank account, you should check out the Citi Double Cash card – you can earn up to 2 percent cash back and you have a variety of options to redeem your cash back, including as a gift card or statement credit.

No sign-up bonus

Similar to other 2 percent cash back cards, the RBFCU CashBack Rewards card doesn’t include a sign-up bonus for new customers. Cardholders who are simply looking to collect a large sign-up bonus may want to pass on it. However, if you plan to hold onto the RBFCU cash card for the long haul, its 2 percent cash back can quickly surpass competing cards with large sign-up bonuses and lower rewards rates.

Low interest rate

The interest rate on the RBFCU card is fairly low, so if you plan to carry a balance and are just looking for a low-rate rewards card with significant potential, the RBFCU card can be an attractive option. Cardholders with the best credit scores may be offered an APR as low as 10.9 percent, while cardholders with lower scores are charged a maximum of 18 percent. The RBFCU card also offers an unusual promotion on cash advances: Any cash advance you take out in the card’s first 90 days is interest-free for up to 12 months. In addition, cardholders are given 12 months to transfer an interest-free balance with no fee.

Safer than most cash back credit cards

The RBFCU card also offers more lenient terms than the typical cash back credit card. For example, it doesn’t charge a penalty APR, nor does it charge an excessive late fee. Cardholders are charged just $20 for one missed payment, a fee which is significantly lower than that of many competitors. In addition, the credit union charges a standard interest rate for cash advances rather than a higher rate.

Why get the RBFCU CashBack Rewards card?

  • You already have an account with Randolph-Brooks Federal Credit Union.
  • You prefer to do business with credit unions.
  • You want a high-earning cash back card.
  • You want a low-rate card that also earns cash back.
  • You want a safer card with lower fees.

How to use the RBFCU CashBack Rewards card:

  • Use it as your go-to card for all your spending or pair it with a card that offers bonuses on special categories of spending.
  • You can use the card while traveling abroad, since it doesn’t charge a fee for foreign transactions.

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