Choosing Your Goldenwest Credit Card

April 5, 2024

With the introduction of the Golden Rewards program, many members have been curious about which credit card—Visa Signature or Visa Rewards—offers the better return. Our Visa card programs with cashback features have become even more attractive with the added benefit of earning 6.00% Annual Percentage Yield (APY) in the Gold Account.

Let’s take a closer look at our most popular Visa credit cards and compare the benefits of each program:

Visa Signature Card with Cashback

If you prefer simplicity alongside premium benefits, our Visa Signature Card is the perfect fit. Members earn 1.5% cashback on every purchase, enjoy concierge services, and receive an annual reimbursement on TSA pre-check fees. Cashback earned with the Visa Signature Card is paid quarterly and directly deposited into your Gold Account earning 6.00% APY, building up your savings for emergencies and other endeavors.

Consider this: If you spend $2,000 each month, you will earn $90 in cashback at the end of the quarter. This dollar amount is directly deposited into your high-yield Gold Account. Continuously spending $2,000 monthly over five years, without withdrawing from your account, will see your balance and interest in the Gold Account grow to $2,083.

Personally, I have chosen the Visa Signature Card as my go-to credit card for making purchases. Cashback directly deposited into my Gold Account is easier for me than tracking and redeeming points. Plus, I am steadily growing the savings in my Gold Account that earns 6.00% APY. I anticipate that over time, thanks to compounding interest, the cashback from my Visa Signature Card will surpass what I could have gained through the Visa Rewards travel rebate program.

Visa Rewards Card: Redeeming Points for Gift Cards and Travel Rebates

With the Visa Rewards Card, every purchase earns points redeemable for merchant gift cards, travel rebates, and more. Members accrue 1 point for every $1 spent, and if you have Reward Yourself Checking your points will accumulate more quickly as you earn 1.25 points for every $1 spent. Moreover, promotional offers can qualify you for double and triple points. Accumulating points through the Visa Rewards Card program can pay-off in the short-term or in the long-run, depending on how you choose to redeem points.

Suppose you spend $2,000 per month and average 1.5 points per $1 spent annually. In this scenario, you would accumulate 180,000 points over five years. This points balance would allow you to redeem for $1,135 in merchant gift cards. If travel is your preferred choice, and considering the same scenario of earning 180,000 points over five years, you can redeem your points for $2,500 in travel rebates.

Making the Choice

When it comes to cashback rewards, the Visa Signature Card is the clear leader in terms of monetary returns and convenience. With cash rebates deposited directly into your Gold Account earning 6.00% APY, the Visa Signature provides an uncomplicated path to steadily grow your long-term savings.

On the other hand, if you are looking for a quick turn around on your rewards, the Visa Rewards program is an excellent choice to redeem points for gift cards. For travel enthusiasts who have the patience to build up their points, the Visa Rewards program offers a higher value proposition with its travel rebate option.

How to Apply

To apply for any of our Goldenwest Visa Cards, visit usucu.org or drop by any Goldenwest or USU Credit Union branch. With instant issue at all of our branch locations, we can get a Visa credit card in your hand within a matter of minutes. Choose Goldenwest for your preferred credit card -- we’ll take care of you!

The calculations provided in this blog are presented solely as examples and for informational purposes. The rates, figures, and data used in these calculations are subject to change without notice.