The Unicom University Credit Union Rewards MasterCard

By now you probably know the advantages of credit unions vs. traditional banks. Owned by their members, credit unions can offer better rates and fees more regularly than banks, thanks mostly to the fact that they don’t have to push huge profits to keep their shareholders happy. This generally means better rates on loans, credit cards and savings accounts. It also means that they can often put more into their rewards and benefits packages. So, knowing this, what can you get with the Unicom University Credit Union Rewards MasterCard? Let’s have a look.

Features And Benefits

The Unicom University Credit Union Rewards MasterCard is a mouthful. It’s also an excellent card packed with a host of benefits, including a choose-your-own-rewards-program option. With the Rewards MasterCard, you earn 1 point for each dollar that you spend and you can choose from more than 500 items offered in the program. You can also get:

  • Cashback to reduce your outstanding balance, or you can use it to pay your annual fee!
  • You can also get shopping vouchers which can be used at Harvey Norman, Myer, David Jones, Kmart and Target – just to name a few. There are many other stores you can choose from.
  • High end, in demand electronics such as iPods, digital cameras, printers and the newest mobile phones on the market!
  • Gifts, including books, subscriptions to magazines, wine and more.
  • Plus a whole list of other rewards you can choose from!

Qantas Rewards are an option as well. There is a $116 annual fee, but you have the option to use you card to earn Qantas Frequent Flier points with your MyCard Gold MasterCard. This option will automatically transfer all points each statement date.

If you’re already carrying high balances on other credit cards, and you’re having problems getting the debt paid down, simply roll the balances over to your Unicom University Credit Union Rewards MasterCard. You’ll enjoy a low interest rate of 4.9% a year for the first 2 years of your balance transfer, giving you a full 24 months to pay off the debt!

Fees, Rates

Your Unicom University Credit Union Rewards MasterCard comes with a low annual fee of $45 with the Silver MasterCard or $85 for the Gold card. Interest on new purchases is the low rate of just 19.49% p.a. with a free interest period of up to 55 days. So, if you can manage your card well, you’re never going to see an interest charge on your statement thanks to the interest free period. The cash advance rate is 20.24%, and the interest free period doesn’t apply to cash transactions, so it’s best to avoid those if you can.

You’ll also enjoy free purchase coverage. If anything happen to your new purchases, such as they are lost, damaged or stolen within 3 months of your purchase (using the card), it will be replaced, repaired or otherwise reimbursed. Also, you get free travel insurance to go with it, so if you have any medical emergencies, or your overseas purchases are lost or stolen, you’re covered there as well!

With this card, your reward points will never expire, so you can save them up as long as you need for the things you want. You also have the option to receive up to 4 extra cards for family or household members. This card offers a host of benefits, considering their low annual fees and low interest rates, it’s definitely a good choice if you’re looking for a new credit card.