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Last updated on November 9th, 2021
Union Bank Bank Freely™ Rewards Visa® Credit Card
Union Bank Bank Freely™ Rewards Visa® Credit Card
- Regular Purchase APR 16.24% to 26.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 16.24% to 26.24% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 27.5% variable based on the Prime Rate
- Annual Fee None
Credit NeededBestCards.com uses a variation of FICO Score 8, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card.Good
- Intro Purchase APR 0% for 12 months from account opening date
- Processing Network Visa
- Earn 1.5% unlimited cash back for every $1 spent
- 25% reward bonus when you redeem into your Union Bank checking or savings account
- 50% reward bonus when you redeem as a principal reduction payment to your Union Bank mortgage
- 0% introductory APR on purchases and balance transfers for 12 months from account opening date
- No annual fee
- Intro Purchase APR: 0% for 12 months from account opening date
- Regular Purchase APR: 16.24% to 26.24% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 12 months from account opening date
- Balance Transfer APR: 16.24% to 26.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 27.5% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $15 or 5% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $37
- Return Payment Penalty Fee: Up to $35
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At a Glance
With an unlimited 1.5% cash back earning rate and a modest signup bonus, the Bank Freely™ Rewards Visa from Union Bank competes with similar products from larger issuers.
Ideal for Those Who:
- Are a Union Bank customer with a banking account or a mortgage
- Are looking for a cash back rewards program that goes beyond the 1% earning rate
- Want to transfer existing debt and pay it off with no interest charges
- Are looking to make a substantial purchase that you can pay down over time without interest charges
- Want a credit card with no annual fee
Union Bank Bank Freely™ Rewards Visa® Credit Card Review
The Bank Freely™ Rewards Visa credit card puts itself ahead of the cash back par by giving you 1.5% per $1 in return on any purchase. Since there are no restrictions or rotating categories, you’re free to earn more than the value of what you’re paying wherever you like.
In addition, the card offers a welcome bonus of $100 if you spend at least $1,000 within three months of opening an account. Plus, your cash back gets a boost if you already do additional banking with Union Bank. When you redeem your rewards in the form of a deposit to a checking or savings account, you’ll get a 25% bonus, and if you have a Union Bank mortgage, you’ll get a 50% bonus when you redeem towards a payment to reduce your loan’s principal.
The Union Bank Bank Freely Rewards Visa® Credit Card is also worth considering for those who are eyeing a substantial purchase in the near future, as well as individuals who want to consolidate existing credit card debt. Upon becoming a cardmember, you’re entitled to a 0% APR period of 12 months on purchases and balance transfers. Note that you must make on-time payments and stay within your credit limit in order to keep this rate.
Other notable perks that come with the Bank Freely™ Rewards Visa are complimentary access to your FICO® Score and digital wallet compatibility. With the former, you can track changes in your score as you use your card, while the latter can save you time when making purchases both online and in-store.
Should You Apply for the Union Bank Bank Freely™ Rewards Visa® Credit Card?
With its cash back program and the intro 0% APR offer, the Bank Freely™ Rewards Visa can hold its own against similar cards, especially since it carries no annual fee.