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Last updated on July 16th, 2021
Valparaiso Alumni Visa® Rewards Credit Card
Support Your School and Earn Rewards
- Regular Purchase APR 15.24% to 25.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 15.24% to 25.24% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 25.24% variable based on the Prime Rate
- Annual Fee None
- Credit Needed Excellent , Good
- Intro Purchase APR 1.99% for 6 months from account opening date
- Processing Network Visa
- Earn 1% cash back on uncategorized purchases
- Earn 2% cash back on gas and traditional dining
- Earn 3% cash back for ridesharing and fast food, including at cafes
- Get a low introductory interest rate and flexible rewards redemption
- Intro Purchase APR: 1.99% for 6 months from account opening date
- Regular Purchase APR: 15.24% to 25.24% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 1.99% for 6 months from account opening date
- Balance Transfer APR: 15.24% to 25.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $10 of 5% of the amount of each transfer, whichever is greater
- Cash Advance APR: 25.24% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 of 5% of the amount of each cash advance, whichever is greater
- Penalty APR: 27.24% variable based on the Prime Rate
- Foreign Transaction Fee: 1% of the transaction in U.S. dollars; 2% of the transaction amount in other currencies
- Late Payment Penalty Fee: Up to $40
At a Glance
With the help of the Valparaiso Alumni Visa® Rewards Credit Card, Crusader fans can add a little school spirit to their wallets. Commerce Bank rewards these cardholders with 3% cash back on ridesharing and fast food, including at local cafes. For alumni adjusting to post-college life, the 2% on gas and dining and 1% on everything else can come in handy too.
Ideal for Those Who:
- Want to show off their support for Valparaiso University while earning rewards
- Frequently spend on rideshares, fast food, and café purchases
- Are looking for a rewards card with no annual fee
- Want a student-centric credit card that transitions easily into an everyday card
Valparaiso Alumni Visa® Rewards Credit Card Review
The Valparaiso Alumni Visa® is a cobranded rewards card between Commerce Bank and the Valparaiso Alumni Association. However, any supporters of the school can apply for this card, from students and faculty to alumni and staff. Yet not all Crusaders will benefit from the highest-earning rewards categories. In fact, its branding as an alumni card can make this offer seem like a better fit for current students, rather than graduates.
Who Can Benefit from the Valparaiso Alumni Rewards?
As with most mid-tier cash back rewards credit cards, the Valparaiso University cobranded card offers multiple levels of rewards. These are outlined as follows:
- 3% for rideshare services, fast food, and coffee shop purchases
- 2% at gas stations and traditional restaurants
- 1% on all other purchases
It’s worth noting that cafés can fall under the fast food or restaurant category, depending on the merchant code used. As for who can benefit, this spread of rewards seems most obviously geared toward students.
Fast food, ridesharing, and early morning coffee runs often play their parts in the college experience. For those who find these categories less rewarding post-college, the gas and dining rewards add a bit more value.
More Than Just Cash Back
While you have unlimited earning potential, Valpo alumni rewards expire 3 years from their issue date. This means you’ll want to have a plan for how you’ll cash in so you can make them. You have plenty of options to choose from, with the most obvious being cash back.
You’ll need 2,500 points saved up to redeem for a statement credit, which will give your rewards a value of 1 cent each. This level of points is equivalent to roughly $830 spent in the 3% earning category, and $25 redeemed. Not the most valuable points
If you prefer another redemption route, you can also consider airline tickets. However, these are non-refundable and require a minimum of 10,000 points (over $3,330 in the 3% earning category). Other options include:
- Fuel discounts
- Gift cards
As a cardholder, you can visit the Commerce Bank Rewards Center to explore these alternative redemption options. However, exact point values aren’t available to non-cardholders. It’s likely these options won’t be as valuable as cash back, but without the ability to check you’ll be left a bit in the dark.
Additional Visa Rewards Card Perks
This credit card also puts forth a low introductory rate, though it can’t match the savings of the 0% intro APR cards. You’ll only have the 1.99% interest rate for the first 6 months on purchases and balance transfers. It’s a nice reduction considering the card’s average regular APRs, but it’s not the best option if you plan to carry a large balance in the long term.
Other benefits this card introduces include the flexible toggle® pay and digital wallet compatibility. These make it easy to integrate the card into your wallet as well as your budget.
Should You Apply for the Valparaiso Alumni Visa® Rewards Credit Card?
The Valparaiso University credit card can be a good option to have, as long as your spending habits fit the rewards categories. Not everyone will find the elevated cash back on rideshares and fast food worthwhile. For some, the dining and gas rewards may help round this out, while others can look to alternative cards, like these:
Each of these credit cards offers several different valuable rewards categories, including ridesharing. Of course, they won’t help you spread school pride for your alma matter. Determining which is more important to you is key to deciding if you should apply for this card.