Review: University of Michigan Credit Card

university-michigan-credit-cardThe Alumni Affiliation for the University of Michigan, in partnership with Financial institution of America, offers a credit card that allows you to earn some rewards whereas flashing your U of M credentials and presumably giving a little bit bit again to the Alumni Affiliation with every buy (although this isn’t particularly acknowledged wherever on the Website online of the Alumni Affiliation or the cardboard’s on-line software).

The complete identify of the cardboard is the Alumni Affiliation of the University of Michigan Money Rewards Visa Signatur, and it’s principally an ordinary Financial institution of America bank card personalized with the U of M brand design. Financial institution of America presents this similar card with a unique design to customers nationwide.

Not that that issues. It’s an honest rewards card that offers you:

  • 3% money again on fuel and a pair of% again on groceries for the primary $2500 in such purchases every quarter.
  • 1% money again on all different purchases (and 1% again on fuel and groceries too in the event you go over the $2500 quarterly restrict on these purchases).
  • A 10% bonus on high of the money again you’ve earned if in case you have that money deposited right into a Financial institution of America checking or financial savings account.
  • An additional $150 money again for brand new cardholders in the event you use the cardboard for at the least $500 in purchases inside 90 days of opening the cardboard account.

The rate of interest on the cardboard might be wherever from 14.99% to 24.99% relying in your credit score historical past, so don’t get it if in case you have shaky credit score — you don’t want a card with a 20%+ rate of interest. The cardboard additionally presents a 0% charge on purchases for the primary yr you will have the cardboard, and a 0% charge for a yr on any balances you switch from different bank cards throughout the first 60 days. (3% price on stability transfers, nevertheless.)

If you wish to apply for the University of Michigan bank card, you’ll find the online application here.