Teachers Federal Credit Union Visa Cash Back Credit Card Review 2024 (2024)

If you’re a member of Teachers Federal Credit Union or plan to become one, the Teachers FCU Visa Cash Back Credit Card* can be a great way to earn cash-back rewards without paying an annual fee. It offers a flat 1.5% cash back on all eligible purchases.

The card also offers a 0% intro APR for 12 billing cycles on purchases and balance transfers, followed by a 16.10% - 18.00% variable APR. A balance transfer fee of $5 or 3% applies.

In addition, the Teachers Visa Cash Back provides exclusive member benefits, like a free Shipt membership, access to pre-sale events through Sofar Sounds and the chance to register with NortonLifeLock’s ID Navigator so you can prevent identity theft.

• Earn 1.5% cash back on all eligible purchases
• 0% intro APR for 12 billing cycles on purchases and balance transfers, followed by a 16.10% - 18.00% variable APR. A balance transfer fee of $5 or 3% applies
• No welcome bonus offer
• Rewards don’t expire

Earning Rewards

The Teachers FCU Visa Cash Back Credit Card* offers a straightforward rewards system. You earn an unlimited 1.5% cash back on all eligible purchases. Since there are no bonus categories, all purchases receive the same earnings rate. There are no limits to the rewards you may earn and no expiration dates. As long as you pay your bills on time, you should find it fairly easy to earn rewards with this card.

Redeeming Rewards

To redeem your rewards, all you have to do is log into your online or mobile banking account. You can choose from a statement credit, direct deposit into your Teachers bank account or gift cards to popular retailers.

Rewards Potential

To determine the rewards potential of the Teachers Visa Cash Back, we consider what an American household might spend on a credit card each year. Forbes Advisor uses data from various government agencies to hone in on both baseline income and spending averages across various categories.

An example household earning in the 70th percentile brings in $118,438 annually and has $39,337 in potential credit card expenses. At 1.5% cash back, the Teachers Visa Cash would earn about $590 cash back per year in rewards.

• Free Shipt membership. You can enjoy a free Shipt membership, which will allow you to order deliveries from your favorite grocery store or retailer.
• Access to presale opportunities for various shows.You’ll get exclusive access to 7-day presales for Sofar Sounds shows plus one free ticket per show if you make a purchase during the presale period.
• Free identity theft protection. You may prevent identity theft and gain some much needed peace of mind by registering with NortonLifeLock’s ID Navigator for free.

Interest Rates

• Regular APR: 16.10% - 18.00% variable APR
• Purchase intro APR: 0% intro APR for 12 billing cycles
• Balance transfer intro APR: 0% intro APR for 12 billing cycles

Fees

• Annual fee: $0
• Balance transfer fee: $5 or 3% of the amount of each balance transfer, whichever is greater
• Foreign purchase transaction fee: 1% of the amount of each transaction.

Teachers FCU Visa Cash Back Credit Card* vs. Citi Double Cash® Card

Compared to the Teachers Visa Cash Back, the Citi Double Cash® Card offers a more generous rewards program. Plus, you could earn a welcome bonus in addition to 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off.

Just like the Teachers Visa, there is no annual fee with the Citi Double Cash. But unlike the Teachers Visa Cash Back, you don’t need to be part of a union to qualify for this card.

While the Citi Double Cash® Card does not offer an intro APR offer on purchases, its balance transfer offer is longer: 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% - 29.24%, based on creditworthiness. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5). Just be aware that if you complete balance transfer with this card, you will waive your grace period for purchases.

Teachers FCU Visa Cash Back Credit Card* vs. Discover it® Cash Back

While the Discover it® Cash Back is a bit more complicated than the Teachers Visa Cash Back, it offers greater rewards potential. With the Discover it® Cash Back, you can enjoy 5% cash back on everyday purchases at different places each quarter up to a quarterly maximum of $1,500 in spending when activated. Plus, earn unlimited 1% cash back on all other purchases – automatically. The card also comes with a welcome bonus offer: Discover will automatically match all the cash back earned at the end of the first year as a cardmember. There's no minimum spending or maximum rewards.

Those looking to finance large purchases or transfer a balance may also be drawn to the Discover it® Cash Back since it offers a few more months of introductory APR: 0% introductory APR for 15 months on purchases and eligible balance transfers. Then, a standard rate of 17.24% - 28.24% variable applies. A balance transfer fee of up to 5% of the amount transferred applies.

The caveats with the Discover it® Cash Back are its $1,500 per quarter spending limit on the 5% bonus categories and the need to activate them every quarter. Also, unless you time your purchases to match the rotating categories, the Discover it® Cash Back will only give you a 1% reward rate as opposed to the 1.5% rate you’ll get with the Teachers card.

Teachers FCU Visa Cash Back Credit Card* vs. Capital One Quicksilver Cash Rewards Credit Card

Both the Teachers Visa Cash Back and Capital One Quicksilver Cash Rewards Credit Card cards offer 1.5% cash back on everyday purchases, without annual fees (rates & fees). With the Quicksilver Cash Rewards card, however, you’ll also earn 5% cash back on hotels and rental cars booked through Capital One Travel.

New cardmembers can also earn a one-time $200 cash bonus after spending $500 on purchases within 3 months from account opening.

The Capital One Quicksilver Cash Rewards Credit Card offers a 0% intro APR on purchases and balance transfers for 15 months, 19.99% - 29.99% variable APR after that; 3% balance transfer fee for the first 15 months, 4% at a promotional APR that Capital One may offer you.

If you’re already a member of Teachers Federal Credit Union or don’t mind becoming one, the Teachers FCU Visa Cash Back Credit Card* may be worthwhile. This is particularly true if you’re looking for an easy-to-use, cash-back rewards card with an intro APR for purchases and balance transfers.

However, if your goal is to maximize cash back rewards on everyday purchases or you don’t want to join the credit union, you may be better off with another cash-back rewards card.

Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:

• Annual fees
• Welcome bonus offers
• Ongoing earning rates
• Value of individual points or miles
• Included travel or merchant credits
• Additional cardholder benefits

Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.

Read more: How Forbes Advisor Rates Credit Cards