Another 3% Credit Card?
The National Police Federal Credit Union just announced the Visa® Copper Cash Back Card, which earns 3% cash back on all purchases.
The card is capped at a $25,000 credit limit, has no annual fee, and advertises “higher cash back amounts during promotional campaigns.”
Membership to the credit union is designed for first responders and their families.
Obviously not something everyone could get, but we’ve been seeing more and more cards offering 3% to help them stand out versus the competition.
Daniel here - I recently did a Robinhood Gold Card Review over on my YouTube channel because this is another popular 3% card that's become a preferred option for cash back maximizers.
But the question is, can 3% credit cards be sustainable?
Economically speaking, interchange fees are usually less than 3%...
So banks and credit unions are likely taking a loss on some of these products to cross-sell other services - or to gain customers and then refresh benefits in the future.
What do you think about 3% credit cards becoming a thing now?