USAlliance Offering 3% Cash Back Visa Signature Card on All Purchases for One Year with Most Traditional Benefits

A little New York credit union, USAlliance, has perhaps the most generous rebate credit card out there. It is a Visa Signature card giving back 3% cash back on all purchases [usalliance.org]. This is NOT a category-based card like those that offer 3% or 5% back but only on certain categories like groceries or gas. It gives back 3% across the board, and I am not aware of any monthly rebate limits.

You do have to accumulate 2,500 points, however, before you can turn those points into $25 cash applied to your credit card balance or as a deposit into your credit union savings or checking account. You can also apply the points toward merchandise.

Unlike the popular Citi Double Cash card which gives you 2% cash back on all purchases and dropped most benefits, this card still has almost all traditional credit card benefits [usalliance.org]: price protection, return protection, cellphone insurance (after $50 deductible), trip cancellation, ID theft coverage, etc. Although it is not listed at the above link, extended warranty IS still offered (confirmed to me by a c.u. official and by the provider of the benefit where you file claims). The card does not, however, still offer CDW coverage on car rentals.

What's the catch? How can this little credit union be so generous with 3% back? The benefit only lasts for a year -- until June 30, 2022. Then it reverts to 2% -- which itself is still pretty good. And, if you are approved for the card and not currently a member of the credit union, you must join by opening a savings or checking account with no fees or minimum balance.

Whewww!