Fort Knox Federal Credit Union Visa Platinum Card Review
Update 3/2/22: They've at present added five% quarterly rotating categories.
Update: Fort Knox Federal Credit Spousal relationship is now Abound Credit Union.
Original Post:
This is another post in our weekly series, "Weird Midweek" where nosotros look at a slightly unusual or weird credit card every week, more posts in the series tin can exist view hither. We haven't run this series the concluding couple of weeks due to time restrictions (and lack of ideas), so make certain you lot aid the states out past suggesting cards to have a look at.
Today'due south card is the Visa Platinum carte du jour that is issued by Fort Knox Federal Credit Wedlock and earns 5% greenbacks dorsum on all gas purchases.
Contents
- 1 Awarding Information
- 1.i What Credit Score Is Required
- 1.ii What Credit Bureau Does Fort Knox Pull For The Visa Platinum?
- 1.three What Credit Limit Will I Receive?
- ii Rewards Program
- 2.1 Earning Rewards
- 2.1.1 Sign Up Bonus
- ii.two Redeeming Your Rewards
- 2.1 Earning Rewards
- three Our Verdict
- 4 F.A.Q'southward & Tips
Application Information
It's possible to apply for this card without becoming a member of Fort Knox Credit Union, past using the not members link during the application procedure. Notation if you do determine to join they will usually do a difficult pull for membership and approval is not automated.
They'll as well sometimes request additional information to corroborate you, for case last two revenue enhancement returns, social security card, drivers license. I also believe that somebody really looks over each application manually (especially if not already a member).
What Credit Score Is Required
| Credit Boards | Credit Karma | |
|---|---|---|
| Everyman approved score | 640 | N/A |
| Average approved score | 693 | North/A |
Common Reasons For Denial:
- Too many contempo inquiries
- Non employed for long plenty
- Too much existing debt
Fort Knox are incredibly inquiry sensitive, it seems that if you have more than three inquiries in the past half dozen months y'all're near guaranteed a denial. Even if yous're under this number and then approving is by no ways a certain thing.
What Credit Bureau Does Fort Knox Pull For The Visa Platinum?
Fort Knox volition normally pull your TransUnion credit report, in some cases they'll pull that in improver to your Equifax credit report. They'll usually do this double pull when you lot have a number of new inquiries on your TransUnion report.
What Credit Limit Will I Receive?
You lot should be able to specify your preferred credit limit during the awarding process.
| Minimum Credit Limit | Highest Reported Credit Limit | Average Credit Limit |
|---|---|---|
| $500.00 | $24,999.00 | $10,333.00 |
Rewards Program
This is a cash back card. Interestingly in the past yous were able to pay off this credit card with another credit card, without any greenbacks advance fees, they then made it so cash accelerate fees were charged before endmost the loophole entirely.
Earning Rewards
The rewards programme on this carte du jour is actually quite simple, y'all earn at the following rates:
- 5% cash dorsum on all gas purchases
- 1% cash back on all other purchases
In the by this carte du jour earned 1.25% cash back on all other purchases, but given that you tin can earn 2%+ cash back on all purchases this isn't exactly an outcome (this alter happened in early on 2013). They take offered 5% cash back on gas purchases since at least early on 2010, so it doesn't expect like this bargain is going abroad any fourth dimension soon.
Sign Up Bonus
This card has never offered a sign upwardly bonus that I am enlightened of. I'm also not aware of any targeted bonuses on this card, in that location is as well no way to see if you have been pre-approved or not for this menu.
Redeeming Your Rewards
In that location is no limit on the amount of cash back that you can earn. Cash back will not be shown at the time of purchase, just will announced on your monthly billing statement.
Our Verdict
It doesn't really make sense to look at this card in isolation, specially when at that place are other cards that too earn 5% cash back on gas purchases:
- Sam's Gild Mastercard earns 5% cash back on gas just has an annual limit of $half dozen,000 in spending. Also has 3% greenbacks dorsum on travel and dining and you're limited to full cash back of $five,000 per twelvemonth. In that location is no annual fee, but information technology requires a Sam's Gild Membership.
- Full list hither
If your gas spending is under $250 a month, I think the Sallie Mae bill of fare is your best option, if information technology's nether $6,000 annually and then Sam's Social club might exist your best option (if you already have a membership) because both of those cards are easier to get approved for and also have other greenbacks back categories college than two% (which is the baseline yous should exist getting).
If yous do take a lot of gas spend, this menu might be worth getting. The problem is you're probably going to need to not apply for cards for awhile so that you lot tin really become approved. In that location are as well 2 other cards worth a mention, the Find information technology & Chase Freedom, both of these cards earn v% cash back in rotating categories (up to $1,500 per quarter) and usually have gas equally a category at least once annually. A full listing of the all-time credit cards for gas purchases tin be institute here.
We Recommend This Card For:
- People with large gas expenses
Nosotros Don't Recommend This Card For:
- People with gas spend under $250 monthly or $6,000 annually
- People with multiple new inquiries on their credit written report
F.A.Q's & Tips
Got a question or a tip? Let us know in the comments below.
Source: https://www.doctorofcredit.com/fort-knox-federal-credit-union-visa-platinum-review-5-cash-back-on-gas/
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