The Signature Federal Credit Union Visa Signature is an obscure yet powerful everyday card which beats most competitors. It has good cash back rates, no fees, and a host of Visa perks which are normally only found on high-fee Visa Infinite cards. Few credit cards offer superior cash back on non-category purchases or superior non-cashback perks. Side note: this is unrelated to Signature Bank of New York. Signature FCU is its own entity.
FEATURES AT A GLANCE
- No annual fee
- No foreign transaction fees
- 6% cash back on streaming (up to $10 per month)
- 2% cash back on everything else
SIGN UP BONUS
The only downside is that the card doesn’t have a sign-up bonus. This card is for long-term benefit only, and you won’t get much in the short-term. New cardholders might get 0% APR for 12 months; that’s about it. High spenders and credit card churners don’t need to look into this card.
OTHER BENEFITS OF THE SIGNATURE CARD
- Visa Signature benefits, including (according to their 2014 benefit guide)
- Roadside Dispatch (standard Visa benefit)
- Trip Delay Reimbursement (12+ hours, max $300)
- Trip Cancellation/Trip Interruption ($2,000)
- Lost Luggage Reimbursement ($3,000)
- Personal Identity Theft ($1,000)
- Hotel Theft Protection ($1,000)
- Cell Phone Protection ($100 max per claim, with $50 deductible)
- Emergency Evacuation and Transportation ($10,000)
- Travel Accident Insurance ($250,000)
- Emergency Medical/Dental Benefit ($2,500 max, with $50 deductible)
- Purchase Security ($500 per claim)
- Return Protection ($250 per claim within 90 days)
- Price Protection ($250 per claim within 60 days)
- Extended Warranty Protection (+1 year if 3 years or less)
- APR as low as 12.5% (as of June 2023)
- No balance transfer or cash advance fees
RESTRICTIONS AND CREDIT SCORE
Recommended credit score: 670+
As a Visa Signature card, you’ll need to be eligible for a credit line of at least $5,000.
You’ll have to apply to join this Virginia-based credit union before applying for their credit card(s), then make a $5+ deposit into a savings account. We aren’t aware of any restrictions for joining. They ask that you’re an employee or member of a select list of organizations, or that you’re referred/sponsored by a current Signature FCU member. However, if this doesn’t apply to you, you can enroll for free into the American Consumer Council (ACC) when joining Signature FCU. Anyone can join this credit union at no cost.
MAXIMIZING REWARDS WITH THE SIGNATURE CARD
You can choose to get a rebate (automatic cash back) or points that can be redeemed for cash back later. This is likely personal preference. The rebate is probably the best option for most people, since it’s automatic and requires zero effort.
We don’t know, at this time, how much points are worth. Usually banks give them $0.01 value each so it’s functionally the same as cash back.
Earning 6% cash back on streaming is limited to $10 (as a rebate) or 60 points per month. If 60 points are worth $6, that’s a monthly spending limit of $100. Otherwise, a $10 earn limit equates to a spending limit of $167 to get the high cash back rate. Most people don’t spend $100+ per month on streaming, so this is fine.
Signature FCU also has a high-yield checking account with competitive rates.
ALTERNATIVES TO THE SIGNATURE
For streaming, only a few cards offer comparable cash back. The US Bank Altitude Go as a popular example. Only the American Express Blue Cash Preferred explicitly has 6% back on streaming, and others are 5% or less.
As a general-use card, this is among the best everyday cards. Looking for anything “better” than this is a tough call. Travel aficionados may get above 2% with the Capital One Venture X or Chase Sapphire Reserve. These also have similar travel insurance and purchase protections.
That’s about it, outside of temporary promotions or Alliant’s 2.5% cash back card.
CONCLUSION
For a general-use card, the Signature Federal Credit Union Visa Signature is one of the best long-term options around. Getting 2% cash back on everything is the new normal. However, Signature also has no annual fee, no foreign transaction fees, and earns 6% cash back on streaming. This is a combination that’s unheard of anywhere else.
Unfortunately, there isn’t a sign-up bonus. Credit cards usually give $100-200 to new cardholders on something like this. Bonuses outpace short-term cash-back gains for most people. If you can get 0% APR for 12 months, that may be useful for some people. We wouldn’t call it an adequate replacement overall though. Likewise, their cell phone protection is extremely low with a maximum benefit of $100. Other cards have stronger protections there.
In general, Signature FCU has a great card which is worth checking out. The Visa Signature benefits are impressive, especially for a no-fee card.
We rate the Signature card 5 out of 5 stars. ⭐⭐⭐⭐⭐
Note: This review was last updated in June 2023. 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!