Last updated on July 18th, 2023
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Union Bank Preferred Rewards Visa® Credit Card
Union Bank Preferred Rewards Visa® Credit Card
Union Bank Preferred Rewards Visa® Credit Card
- 17.74% to 27.74% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 17.74% to 27.74% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 29.00% variable based on the Prime Rate Cash Advance APR
- 0% for 12 months from account opening date Intro Purchase APR
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 5 points per $1 spent, up to $6,000 annually, on mobile wallet net purchases
- Earn 3 points per $1 spent, up to $6,000 annually, on restaurant net purchases
- Earn 2 points per $1 spent, up to $6,000 annually, on gas and grocery store net purchases
- Earn 1 point per $1 spent on all other purchases
- Get a 25% reward bonus when you redeem points as a deposit to a Union Bank checking, savings, or money market account
- Get a 50% reward bonus when you redeem points as a principal reduction payment to a Union Bank mortgage
- Intro Purchase APR: 0% for 12 months from account opening date
- Regular Purchase APR: 17.74% to 27.74% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 12 months from account opening date
- Balance Transfer APR: 17.74% to 27.74% 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: 29.00% 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
- N/A
At a Glance
With the potential to earn up to five points per dollar, the Union Bank Preferred Rewards Visa® Credit Card is a lucrative rewards credit card for those who pay with plastic often.
Ideal for Those Who:
- Are looking for a rewards credit card that earns at increased rates on specific spending categories
- Frequently make purchases via a digital wallet
- Dine out often at restaurants
- Use a credit card to pay for groceries and for filling up at gas stations
- Have an existing Union Bank account or mortgage
Union Bank Preferred Rewards Visa® Credit Card Review
The Union Bank Preferred Rewards Visa® Credit Card earns a base one point per $1 spent on all purchases; however, you can quickly multiply those earnings if you shop on particular categories. Purchases at grocery stores and on gas earn 2 points per $1. Restaurant transactions earn 3 points per $1. The most rewards-friendly purchases are those made via a mobile wallet, which earn 5 points per $1 (but only on your first year as a card member). The caveat with all multiplied points categories is that you will only earn at those rates on the first $6,000 spent per category each year. After reaching that cap, you will continue to earn the base 1 point per $1 on those categories until the next calendar year (except for mobile wallet purchases).
As an additional incentive, this card offers a signup bonus of 10,000 points if you spend $1,000 on total purchases within your first three months as a card member. This spending goal is cumulative, so you’re not restricted to specific categories. You can redeem your points for merchandise, gift cards, travel booking, statement credits, account deposits, or mortgage payments. The last two options have enticements of their own, as they’ll net you additional points. Redeeming points for a deposit into a Union Bank savings or checking account will grant you 25% bonus points, while redeeming for a principal reduction payment to a Union Bank mortgage account gains a 50% bonus.
The benefits don’t stop there, though. The Union Bank Preferred Rewards Visa® Credit Card offers an introductory 0% APR period of 12 months on purchases and balance transfers after you open an account. Also, if you’re trying to keep an eye on your credit score, you get complimentary FICO® score access. All these perks come standard with the card, which has no annual fee.
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