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Last updated on April 1st, 2021
SchoolsFirst FCU Rewards Mastercard® Credit Card
Receive 10,000 When You Open a Card Account
- Regular Purchase APR 11.50% to 17.90% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 11.50% to 17.90% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 11.50% to 17.90% variable based on creditworthiness and the Prime Rate
- Annual Fee None
- Credit Needed Excellent , Good , Fair
- Processing Network Mastercard
- Earn 1.5 points per dollar spent on every purchase
- Redeem points for cash, travel, merchandise and more. Points earning is unlimited and they never expire
- Skip your December billing cycle payment without an impact to your credit score
- Enjoy Priceless Cities benefits exclusively for Mastercard cardholders
- Regular Purchase APR: 11.50% to 17.90% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 11.50% to 17.90% variable based on creditworthiness and the Prime Rate
- Cash Advance APR: 11.50% to 17.90% variable based on creditworthiness and the Prime Rate
- Penalty APR: 17.90%
- Late Payment Penalty Fee: $25
- Return Payment Penalty Fee: $20
At a Glance
The SchoolsFirst FCU Rewards Mastercard® Credit Card is a travel credit card that provides overall value-for-money. The card offers basic rewards but also an instant points bonus for signing up. Other features include no balance transfer fees, no foreign transaction fees, and no annual fee.
Ideal for Those Who:
- Have excellent credit scores
- Plan to travel
- Like the option of skipping their December payment – without penalty
- Don’t want to pay a foreign transaction fee – or annual fee
SchoolsFirst FCU Rewards Mastercard® Credit Card Review
The Rewards Mastercard® from SchoolsFirst FCU is a rewards credit card that prioritizes various rewards, premium travel perks, and a competitive APR.
How to Earn Rewards
The SchoolsFirst FCU Rewards Mastercard® earns similar rewards to the School Employee Mastercard, but with points instead of cash back. Cardholders earn unlimited 1.5X points on purchases (1.5X points per $1 spent), with award options including travel, merchandise, gift cards, and cash back. Points never expire if the card account is open and active.
Introductory Points Bonus
The Rewards Mastercard® also comes with a solid intro points offer: 10,000 points for opening a new account. There are no spending requirements with this bonus – simply open the account and receive 10,000 points. This signup bonus has an approximate cash value of $100.
Credit cards from credit unions feature a lower interest rate than cards from larger issuers, like Chase or Bank of America. The Rewards Mastercard® from SchoolsFirst FCU is no different.
The card features a very competitive APR on purchases and balance transfers. While rates vary based on creditworthiness, at the lower end of the scale, those with excellent credit can expect a rate of around 12%. Given the average APR for a rewards credit card is about 16.5%, that rate is exceptional. Even those receiving a higher APR from SchoolsFirst can expect a rate far more generous than anything on offer from major bank.
World Mastercard Benefits
The SchoolsFirst FCU Rewards Mastercard is a World Mastercard product, meaning cardholders receive additional benefits beyond a traditional Mastercard. These perks and protections include:
- ShopRunner: Free membership providing 2-day shipping with over 120 leading online retailers.
- World VIP Concierge: 24/7 concierge service for airports, travel, and any other concerns.
- Mastercard Luxury Hotel Collection: Complimentary upgrades, late checkout, and more at over 2,000 properties worldwide.
- Cell Phone Protection:$1,000 in coverage per year ($600 per claim) if your phone is lost, stolen, or broken. Cardholders must pay their phone bill with an eligible card. Terms and conditions apply.
- Priceless® Cities: one-of-a-kind experiences and adventures
Other Card Features
Like other SchoolsFirst credit cards, Rewards Cardholders can also skip their December statement payment – without impacting their credit score. Other notable card features include no annual fee, no foreign transaction fees, and no balance transfer fees.
Should You Apply for the SchoolsFirst FCU Rewards Mastercard® Credit Card?
The SchoolsFirst FCU Rewards Mastercard® Credit Card isn’t the most exciting travel or rewards credit card on the market, but it offers excellent value-for-money for members of SchoolsFirst. The 1.5X points aren’t huge (the Discover It Miles offers the same earning rate, for example), but the 10,000-point signup bonus comes with no purchase requirements or strings attached.
The APR with the card is very enticing – especially when compared with other similar products from major issuers. The addition of skipping December payments (without impacting your credit score) is another nice perk not found elsewhere.
Overall, the SchoolsFirst FCU Rewards Mastercard is worth considering if you are a member of SchoolsFirst FCU, are eligible for membership, and don’t want the hassle of confusing rewards or a higher APR.