The Affinity Federal Credit Union Cash Rewards is a high-earning Visa Signature credit card. It gets 5% cash back at bookstores, and on non-digital Amazon purchases. The card also has rotating categories where you can earn up to 7% cash back for 3 months at a time. If you’re considering something like the Barnes & Noble credit card, or an Amazon-specific card, Affinity FCU could be the superior choice.
FEATURES AT A GLANCE
- No annual fee
- No foreign transaction fee
- 5% cash back on rotating categories
- 5% cash back with Amazon and bookstores
- 2% cash back on groceries, dining, gas, rideshare, and streaming
- 1% cash back on everything else
2022 categories:
- Q1: Gas, Cellular/Wireless, Cable/Satellite
- Q2: Gas, Gardening, Supermarkets
- Q3: Gas, Wholesale Clubs, Fast Food
- Q4: Unknown
Note: for 2023, Affinity may have discontinued rotating categories. TBD.
SIGN UP BONUS
There are two levels of sign-up bonuses. If you spend $3,000 within your first 90 days of having the card, you’ll earn $200. This is fairly low, at nearly a7% RoS (Return on Spend). An ideal bonus is usually 20% or higher. Then if you spend $25,000+ total in your first year, you get another $250. Most people probably won’t spend $25k on a single card, but if you do, that’s a total introductory bonus of $450. A low 1.8% RoS (Return on Spend) total. Kind of a “nice to have” if you were already going to spend the money, but far from optimal where churning is concerned.
There’s sometimes a $150 sign-up bonus for opening a checking account (sometimes limited to residents of CT, NJ, or NY).
OTHER BENEFITS OF THE CASH REWARDS CARD
- Visa Signature benefits, including:
- Purchase Security ($1000 per claim within 90 days)
- Travel and Emergency Assistance Services
- 24/7 Concierge
- Cell Phone Protection (maximum $250 per claim, with a $50 deductible)
RESTRICTIONS AND CREDIT SCORE
Recommended credit score: 670+
Anyone can become a member of the credit union with a $5 donation. It isn’t regionally locked.
There’s a $3,500 monthly spending limit on 5% categories. If you hit the limit, anything over it earns just 1% cash back until the next month.
MAXIMIZING REWARDS WITH THE CASH REWARDS CARD
The card advertises as “5% cash back at Amazon” but was originally intended for books only. That’s why the card also gets 5% back at miscellaneous bookstores. Affinity’s card does work with other physical purchases at Amazon. Some people report that digital purchases (like streaming movie purchases and Prime Membership) don’t get the 5% rate. Gift cards are clearly excluded.
5% rotating categories stack with the 2% earn rates. Gas for example currently gets 7% cash back.
Affinity also has a high-yield savings account. As of August 2022, it gets 3.5% APY on balances up to $5,000.
ALTERNATIVES TO THE CASH REWARDS
As with all credit cards, 1% or 2% categories are almost never worth considering. There are dozens of cards which offer 2% cash back on everything. With Affinity FCU though, their 2% categories can instead get up to 7%. So they shouldn’t be written off entirely.
This is the only no-fee 5% card for Amazon. The closest alternative is Amazon’s own credit card, the Prime Rewards Visa, which gets 3% or 5% back at Amazon. This does include digital purchases. Some people will prefer Amazon’s card over Affinity FCU.
The next best option is Bank of America Cash Back Rewards, although you need Preferred Rewards status for the best cash back rates.
Other rotating-category cards, like the Discover It Cash Back and Chase Freedom Flex, usually give 5% cash back at Amazon for one quarter.
If you’re concerned with gas, our #1 pick is the Abound Credit Union Visa Platinum which earns a constant 5% year-round.
CONCLUSION
Affinity CFU Cash Rewards is an interesting credit card. Its main draw is high cash back rates for Amazon and bookstores. However, the added value from rotating categories brings even more of a punch. 7% back on gas is especially attractive these days.
Rotating categories are always unpredictable, so some people won’t want to deal with that. Affinity’s card could be an everyday-use card. It has decent earn rates for anyone who doesn’t want to optimize credit card spending.
The other downside: It’s light on Visa Signature benefits. The Purchase Protection is great, but that’s about it. The cell phone insurance is just okay. It’s more limited than other cards, although it’s better than nothing. If you want Extended Warranty or other benefits, Affinity won’t help there.
Overall, this is a card worth checking out. It’s potentially useful for many people.
We rate the Cash Rewards card 4 out of 5 stars. ⭐⭐⭐⭐
Note: This review was last updated in August 2022. Details may have changed since then. Please do your own research where applicable, to ensure you’re getting the best deal. Or contact us directly to benefit from our personalized consulting services!