Associated Bank credit card rewards - what's the catch?

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Associated Bank credit card rewards - what's the catch?

Postby amwyas » Wed Aug 31, 2011 1:56 pm

Being that Associated Bank is a local company for me I hear about them all the time but I am shocked at their credit card rewards and how more folks aren't taking notice. They have a Visa Signature rewards card that has no annual fee and gives 3% on gas, grocery and drugstore and 1% everywhere else. This is straight cash back as far as I can tell that is unlimited.

Is there a catch to the the Associated Bank credit card that I am missing? If there isn't then doesn't this deserve more recognition as possibly being one of the best credit card deals around right now?

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Postby CCG » Tue Sep 06, 2011 1:29 pm

This card is managed by Elan Financial, a company whom issues cards for a number of smaller banks. The rewards program appeared very attractive until I clicked on the application, followed by the Terms and Conditions. The following was buried deep in the fine print for the rewards program:

You may earn 2 additional Points (“Bonus Points&#8221 ;) for a total of 3 Points for each dollar of Net Purchases charged to your Account during each billing cycle at gasoline stations, grocery stores, grocery supermarkets, or drugstores. We cannot control how merchants choose to classify their business and reserve the right to determine which Purchases qualify. You may only earn a maximum of 2,000 Bonus Points per year. After the Bonus Point limit has been reached in a calendar year you will continue to earn 1 Point for each dollar of Net Purchases charged to your Account.

This is quite disappointing and its unfortunate that Associate Bank isn't more forthright with this in their credit card promotions. I did not see mention of this maximum of 2,000 bonus points elsewhere on their website while reading about the card.

CreditCardForum has a number of sponsored offers for high cash back and travel rewards which you may wish to check out instead.


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