1% cash back, no annual fee, but 6-18 month wait for cash back
Written: Jun 25 '09 (Updated Jun 26 '09)
|
Product Rating:
|
|
| Customer Service: |
 |
|
| Web Site Experience: |
|
|
|
Pros: 1% cash back, no annual fee, high credit line, good customer service
Cons: Takes 6-18 months from date of purchase to get your 1% cash back.
The Bottom Line: REI Visa Gold / Signature is a low-maintenance 1% cash back card, second only to USAA Platinum Mastercard. But the wait for 1% cash back is lame.
|
|
|
| johnwhite's Full Review: REI VISA Card (US Bank) |
Background:
I became an REI member around 2001, and I've had this card since 2002. Within two years, they offered an upgrade to the Gold card and about a $14k line of credit, from around $10k I believe. My credit score was around 650 at the time. Now, my credit score is 800+ and they allow me a $20k line of credit with an APR around 11.5%.
REI connection:
Whether you are an adventure lifestyle person or not, just drop $15 (makes you an REI member forever), then get this card, which yields 1% cash back on all non-REI purchases. (This is not tiered, like my Discover, which slowly works up to 1% back as I spend into the thousands.) No annual fee. The simplicity of this is what sold me.
However, if you are an REI member, you know that you don't get your dividend from REI of the current year until July of the next year. (So you will wait from 6 to 18 months to get cash back.)
The credit card cash back is bundled with this REI dividend. While you can't get it until July, REI does offer you to use those dollars in-store. If you really wanted to sneak around this 3-month delay, just buy something expensive from REI and return it. They will credit your credit card right then.
US Bank:
Website for US Bank is basic. Online statements are offered for the past year and a half. PDF-format statements are text-searchable (not merely graphic-based scans). I requested that they stop sending "convenience checks" two years ago, and they made good on it. If you are inactive for a series of months, statements will halt until you resume spending. I've never had an opinion of US Bank before, but they are doing a solid job so far. From old reviews, it sound like REI was right to move from Bank of America, especially considering BoA's reputation these days.
Disputing charges:
I disputed a $3 charge via email. Refund happened very quickly.
I disputed a $100 charge I made overseas, they sent a fax of the receipt to prove to me that, yes, I had indeed made the charge. My mistake, and they were able to prove it.
Summary:
Card looks pretty, 1% cash back is unambiguous, no annual fee, boatload of credit. I also suspect they would be less likely to drop my card for inactivity since the REI membership is connected to it. My USAA Platinum is my primary card. But if you don't qualify for USAA membership, this is the next best thing.
No annual fee
1% cash back (non-REI purchases)
5% cash back (for REI-purchases, and in addition to 10% back dividend on non-sale items)
Card design is usually some pleasant nature scene
Doubles as your REI member card
Typical Visa Gold / Signature benefits like warranty coverage doubled up to 1 year
My "revolving" credit line of $20k allotted to me is high
Recommended:
Yes
|
|
|
|
Epinions.com ID:
johnwhite
|
|
Member: John White
Reviews written: 9
Trusted by: 2 members
|
|
|
- Add to My Yahoo!: 
- Add to Google Homepage: 
© 1999-2009 Shopping.com, Inc.