NEW (AMAZING, CAN'T LAST) CREDIT CARD: Redstone FCU Visa Signature
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- Опубликовано: 21 окт 2024
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checking in a year later and the card categories are still the same! one thing i do have a question about, you mentioned how to redeem the rewards cb but didnt mention if they allow you to just do a statement credit? thats usually my preferred choice vs getting gift cards
The only RUclipsr with a review on this credit card.
This guy knows his stuff.
Well, here we are a year later. And that deal is still holding up! I got mine about a month ago
Now 14 months later!
Not anymore: Read the terms. They capped he total cash back on the card at $350 cash back a year.
@@dylanboyle-levy9026 $350 total for (what) each year..
I just looked and didn't see that.
Are you looking at something like 350 cap per billing cycle..?
Any work around since it's NOW only for residents??!
Post Script: That is awesome that there is still price protection on a card. Capital One and Redstone are a few left that it did not get nerfed.
I have this card right now and love it. 🎉 I seriously could not wait until 2023. I have been banking with Redstone for 20+ years. Great FCU and has a family vibe to it. Will this last? Remains to be seen. The do change stuff every yr. I hope it does.
Used to live in Murfreesboro, TN and you said it 100% correct.
Still running strong
one way they can cut back is change the gas to only at pump purchases. pay attention to that
My two main points is easiness to get the money as cash back into my account (vs statement credit which I'm not interested in) and if there's a cash back cap of $25 or some stupid rule like that.
Card sounds amazing but yea definitely don't think it will hold up. Not to mention all the hoops you have to go through and the point scale makes it seem not worth the hassle. Great content as always, thanks Adam!!!
Definitily one of the best cards out there if it lasts. For pure cash back I don't think any cards give you more than 5% on dining and gas. The Custom Cash is the closest which can get you one of those. Then the 3% categories are good too. 3% on groceries is sort of standard, but hard to beat without an annual fee. Wholesale clubs typically aren't a bonus category and same with utilities and phone. I'm not sure how much it moves the needle considering what I already have, but if it sticks around might be worth figuring out how to get.
The cash plus card from us bank has 5% back on utilities. Real 5% back. Not 2.5% real cash back like the Redstone card. Not bashing, just being honest. Plus, the shoppers reward card is starting to look attractive with the 6% back at Walmart, etc.
@@DL-1 not sure where you are getting the 2.5% from. Utilities give 6 points per dollar. Points are valued at 0.5 cent/point. 6points/dollar * 0.5cents/point = 3cents/dollar = 3% cash back
3% back at Sams Club or Costco may be enticing but I’ll stick to my Amex Everyday Pref, I’d rather take the MR points.
Still if you’re team cash back might as well go for the card even if it won’t last forever.
It's tempting but I have cards that cover it all already. And I'm Lmao/24
1. Penfed Cash Rewards (Legacy 5% back on gas statement credit)
2. 5% Grocery AAA Visa Signature
3. 5% Dining up to $500 Citi Custom Cash (I don't spend enough here to justify hard pull even with traveling spending). Plus 4% Grandfathered SAVOR if I'm ever overseas (I don't really care for that extra 1%)
A year and a half later Redstone is still going strong.
I get far more cash back with this card than I’ve ever have before - all in one card! I love one and done!
You don't have to join financial fitness. Just claim that's your association on your application and it still works. Also bad news is they pick the credit card for you, you don't get to pick. I got lucky and got the visa signature. I'll assume credit score and current cards you may have could play a role on one of the two cards you will get picked out for you. Again you don't get to decide the agent told me. I got a 730 score with a good number of cash back cards. Also like I said you don't have to pay to join any of the associations to get in, they didn't ask as a follow up.
Did they require a bunch of documentation?
Proof of ID and proof of income?
@@RedRider1600 standard credit card stuff. Income and what not, ssi number and all that.
@@WinnieTheTrain
So they didn't require uploading documents, proof of income and ID?
Same application process as applying for any bank credit card?
Credit Unions usually require uploading documents and ID .
That didn't happen?
My dad has this card and barely uses it. All that cashback he could be earning🤯
It's kind of similar to the US Bank card. I agree with you that it it stays with us long term it might be good to pair with similar cards. That means you can spend more combined just on separate cards.
They will force other card providers into upping their game. It's a win.
I just got approved for membership and $5k visa signature cc with Redstone FCU
How did you join the credit union?
Did they require a bunch of documentation?
Proof of ID and proof of income?
@@RedRider1600 yes
@@journey2credit84 You have this card?
@@studnts4elac financial fitness association
I referred my sister to my credit union (not redstone) and when she applied on the phone she ask them if they needed my member ID number. The lady said "just need his name. We don't really check that stuff honey."
That stuck with me. When I applied to Redstone it ask if I was eligible bc of where I live, my association with a certain organization or if I was referred by a current member. I made up a fairly common generic name.
I've been a member for the last year. I live in Phoenix.
If I were starting over again, I might go for this as my second or third card. Especially if I lived in the area. But right now I've got a set up that I can handle fairly well, that just needs a couple more cards added to it over the next year or so. But thanks for highlighting this one. I'm sure there is somebody out there who could use it in their arsenal right now, even if down the road the conditions change.
This would be the greatest first card ever
As a Tennessean I had to laugh at Murrrfreeeesboro.
Just checked on the same rewards are still there
I think the Rural King card they sponsor makes up the difference. The card is still around. I joined Redstone by getting the Rural King card even though they have no stores around Atlanta but can buy online.
First ;). Great content, as always! Really crazy overpowered card!
🏆🏆🏆
Great review and love your videos!!! Was wondering about the Langley federal credit card and if you could do a review on it. Keep up the great work!
I would like to see that. I just got approved for it. I dint know what the options for the 5% back for the month is yet. They said that they give you a choice of one of 3 categories that they choose each month. They rotate at their discretion. You choose the one that you like the most out of the three.
@@DL-1 how have the rotated categories been? How often has the whole sale month been available?
Has anything changed since it came out?
Over a year later, its made me good money and im not a big spender. When i got it a year ago, the lady on the phone said its random which card you get from redstone when making an application so do keep that in mind and im not sure how the card is still going but my guess is the higher inflation and more taxing the more they get to keep these rewards and probably due to people keeping the cashback in the redstone savings account instead of moving money to a new bank
Have you done the Langley Federal Cash Rewards card?
trying to get an account with Redstone but it's asking for a picture of my physical social security card. i have no idea where that is....
0% Intro APR for 6 months for those wondering
With such a good card they have to scale down somewhere
checking in a year later and the card categories are still the same! one thing i do have a question about, you mentioned how to redeem the rewards cb but didnt mention if they allow you to just do a statement credit? thats usually my preferred choice vs getting gift cards
You can redeem to your Redstone savings account and apply that to your balance
Each point is only worth 0.5 cents considering the math they do says 121224 points gets you more than $600 cash back
is this really that ground breaking? isn't it pretty similar to the AAA cards?
True, its few advantages over AAA cards are very replaceable too. However, if just looking at the rewards, I would want to choose this card over AAA cards, if I haven’t already gotten the AAA daily card lol
Hey Adam redfcu is also the issuer of rural king store card would love to see your thoughts on that card
So basically tell them I don’t want cash back? I bank with chase bank but all I’m asking them is for a secured credit card nothing more
5% on gas and restaurants 😳
Giving me a flashback uber card vibes wouldn't he surprised if it gets nerfed and possibly discontinued product changed into a worthless card
Uber credit card was with us more than six months, but you're right. It's a worthless card now.
Pass. I’m in time out to get under 5/24! 😂
Do they got 5% cashback on groceries to your travel spot?
You aren't the only one
Honestly, I think the first thing to get nerfed is the caps. Only other card I've ever seen with a 7K cap on any category has been the Citi Costco card, and that category (Gas and EV) is at 4%. I thought the AMEX BCE's caps at 6K each with 3% Cashback were generous...
I’m a little skeptical on whether or not this credit union will be able offer this card long term. It will be interesting to see what happens 6 months or so down the road. Perhaps, they may offer this card as a possible loss-leader product as many companies do, and make up for such losses in other ways.
what a introduction lol
Yes, this is dope (and unsustainable)...
I appreciated your video on the AAA credit cards. I think those are no brainer cards. They both are a slam dunk. I think i will apply for both of them today.
did you get them both?
@sumeetagarwal6561 no. Only 1. When bank of America controlled the cards you could get both. Since comenity bank took over you only get the option of 1.i took the grocery card since it came with 3% off gas, wholesale clubs like sam's club, and 3% off at pharmacies. It was a better overall card for my needs. I am trying to get more gas cards though. Hope this helps.
@@DL-1 thanks for the info!
@sumeetagarwal6561 you're welcome brother. Wishing you well.
@DL-1 so you can only get one of two period?
If you’re in montgomery are you eligible for membership its like 3 hrs away
>You know when viewing the thumbnail bigger you cannot make out the words below 5%.
>On the video this card matches the Comenity card.
>A bit of an accounting gimmick on the points though your still getting the percentage back as advertised. >Are you sure Adam that the cap on the points did not throw you off? "capped at 70,000 points annually" Isn't that $3,500 a year with a half a penny a point valuation?
$7000 @ 10 points per dollar equals 70,000 points, right? i think my math is correct but they did make it challenging.
@@ProudMoney I think you maybe right. I enter "EXHIBIT A" as they call it. Also Redstone lists them separately for qualifying restaurants and gas but the way I read that it is both combined which I think you covered, all correctly.
Pass. Card may last a couple years
Have you personally applied for this card?
And also, the 5% cashback isn’t 5% at all? I’m reading down on the comments and I’m kind of confused.
2.5% cash back at .5 per point
It IS 5%, 3% and 1.5%. The points you get are worth double the corresponding percentage. The rewards are exactly as advertised.
I’ve had the cards 3 months and I’m blown away by how much I’ve gotten in rewards.
@@shahnulislam9897No it is as advertised. You get
-10 points per dollar in restaurants and gas station
-6 points per dollar at groceries, discount stores, wholesale clubs, utilities, phone and streaming services
-3 points per dollar on everything else
10 points is worth 5 cents/5% cash back per dollar
6 points is worth 3 cents/3% cash back per dollar
3 points is worth 1.5 cents/1.5 cash back per dollar.
New Subscriber to your channel! Great job on this video - solid option for those who want a 1 card cash set up. Currently I'm way over 5/24 otherwise I would consider this option! in the meantime I'm rocking 3 Citi Custom Cash cards for Grocery, Gas, Dining. With the Citi Rewards+ card you get a 1.1 multiplier, all these custom cash cards become 5.5% cash back :)
how did you get 3 citi custom cash?
@@gavinjamesgarcia5496 so Citibank is extremely flexible when it comes to product changes. I had an American advantage card, a Citi, double cash card, and a Citi custom cash card. And I essentially product changed all three of them to be the same Citi custom cash card. That way I have three of them and essentially get 5% back at a minimum for grocery gas and dining. Had to write a big sticky note so I differentiate the three! Haha
@@thecreditcardmd I thought they had a rule that you can only have 1 Custom Cash card. Is this an oversight on their part? Or do they not care?
@@RedRider1600 so you can’t apply for another one if you already have one. But there are no rules against product changing go multiple ones. Assuming you have more than 1 Citi card 😊
@@thecreditcardmd
Well, that's an interesting loophole.
Maybe I'll apply for another Citi card and then product change it.
Here's the bait, switch will come in weeks.
I’ll pass. It won’t last. The caps are so they don’t get pimped out.
If you thought this card would bring me back into the game, you were sorely mistaken.
how will we know for sure?
@@ProudMoney i will continue to update
But you didn't tell whether they have a zero % interest for a period after you get the card.
I got an idea. Don't carry a balance
0% for 6 mo. on balance transfers
Red Flag! It looks as though points are worth half!! 120k points is only worth $600 bucks.
Yes, but that doesn't change the cash back percentages.
This card sounds too good to be true. It likely has some hidden terms and conditions of some sort.
The $7k yearly cap is already the downside.
@Just a Dude better than most 5% capped at 1.5k per quarter, and they're not shared. It's 7k each
The only problem that i see with this card is that the points don't redeem at what i consider being full value... meaning one cent per point. So, the benefits of this card are sustainable by the credit union, because they are not losing as much money as you think they are. I really wanted this card too. Until i found out that you get scalped when you redeem the points for dollars.
1pt=0.5c. So it's really a 2.5%, 1.5% cash back card. not worth it
No, explained this in video. 5% = 10 points per dollar. so it is still 5% back even at a half cent per point.
Even so I currently get 5 points per $ on fuel ⛽️ on the freedom flex until end of June and most likely one quarter on freedoms and a quarter on discover and on chase I can get 2-3 cents per point
I’ll definitely stay away from this one! 🤦♂️
Why
There's nothing amazing here.
A $150 welcome offer is low. 5% gas isn't amazing when Amex Biz Gold is 4x uncapped and Wyndham Business is giving 8x uncapped. Many other cards earn 3% or so as well...and most people won't be spending much as gas stations anyway to move the needle unless they're buying gift cards.
5% dining is also weak considering so many cards giving better or close to that including Amex Gold, Altitude Reserve, Chase Sapphire Reserve & Preferred...
I really don't understand why you value category return so much especially when you say you are a low spender.
What really is amazing right now is Amex giving out 'no lifetime language' offers allowing people to get multiple copies of Biz Gold, Biz Plat, and even Delta cards. Some even report NLL offers on other cards, too.
A lot of those cards have annual fees. Not many people want to open a business card. Not many people want to open multiple cards just for cash back in one category. A bonus is always better than no bonus. You make a lot of assumptions too, like “most people won’t be spending much at gas stations.” What? Have you seen the economy? One card that offers good cash back in a ton of categories is great for the average person. You’re on something else my guy
- most of the cards you are comparing to are mid to high end travel cards with hefty annual fees from a major bank. This is a great no AF cashback card from a small credit union. Probably targeting local residents. Just sayin
@@wanbiis Correct, the cards have annual fees, but the year one value far outweighs the annual fees & many of the cards can be dumped after year one if no retention offer and/or the benefits don't outweigh the costs. Why don't they want to apply for business cards? It's very limiting to get none, especially with the super leniant Amex.
The over focus on category return is missing the overall value one can get from cards mainly from welcome offers...and many other cards like I mentioned have good category return, high welcome offers, and other benefits.
Yes, I don't see people spending much at gas stations to move the needle of cashback/returns. Maybe people are spending $200-300 a month or more? Even at $1000 a month in gas, 3% more than generic 2% cards is only going to be a $30 difference. But hopefully people are doing better using grocery/gas rewards in their area to save on gas.
@@docsays The annual fees are easily offset by welcome offers, benefits, and other things especially in year one.
@@StoicSolutionsPodcast - true, but then there’s year 2,3,4, etc. the subs are great on big bank travel cards, but i only open cards i plan to keep long term. I know some folks use the pump n dump approach just to snag a SUB, but over time that really shortens your average age of accounts. To each their own.
Points are only half a point, so your 5% is really 2.5%. Meh
No everything is doubled if you read the fine print. 10x Points for 5% categories, 6xPoints for 3%
@@Arguing101 doubles how?
@@oshitomaha 1 Point = 50 Cents. So for their 5% cashback they are actually giving you 10X Points
Yup. So disappointing. I really wanted this card until I found this out. 😮😢😂😂😂
@@DL-1
But you get twice the number of points per dollar, 10 points per dollar.
So it works out to 5% cash back per dollar spent.
There's nothing particularly spectacular about the card.
5% in most people’s highest spending category,
It’s basically everyone’s suggestions for top cards all in one. Citi custom cash + Wells Fargo autograph, plus a 1.5% cash back card. Unless it has a spending cap it basically combines multiple cards
What???? Its literally the best card on the market until it gets nerfed
5% in two major categories (Dining+Gas)
3% Wholesale Stores
3% Grocery (For those that one a 1 size fits all)
No FTF
No AF
Thats already huge. Then you add in the rest of the 3% categories and Visa Signature Benefits