So you’re in the market for a new credit card and you want to support your local community bank. Smart move. Community banks often offer credit cards with great rewards and low rates.
The hard part is figuring out which bank in your area offers the best deal. Don’t worry, we’ve got you covered.
We analyzed credit cards from community banks across the country to find the top offers. Whether you’re looking for cash back, travel rewards, or just a low APR, there’s a community bank card for you.
Read on to find the best community bank credit card for your needs and start earning rewards for shopping local. Supporting small businesses has never been so rewarding!
Comparing Community Bank Credit Card Interest Rates and Fees
When choosing a community bank credit card, interest rates and fees should be at the top of your comparison list.
Most community banks offer cards with competitive APRs between 10-25% for those with good credit, while some credit unions can be even lower. Compare a range of options to find a rate you’re comfortable with. Higher rates may mean steeper penalties if you carry a balance, so check if grace periods and/or waivers apply.
Annual and late fees are also important considerations. Many community banks charge no annual fee and minimal late fees compared to big banks. Some even waive certain fees for loyal customers or those who meet monthly spending requirements.
- Look for cards with 0% intro APRs on purchases and balance transfers. This can save you money if you have a large expense to pay off over time. Just be sure to pay the full amount before regular rates apply.
- Consider if the card offers rewards or cash back. While less common with community banks, some do provide modest rewards for spending in certain bonus categories like gas or dining. Compare the percentages to see if the rewards outweigh higher fees or rates.
By comparing APRs, fees, rewards and perks across community bank credit cards, you can find an option suited to your needs and spending habits. Do your research, crunch the numbers, and you’ll enjoy the benefits of a community bank credit card without unwanted surprises.
Evaluating Rewards and Perks of Top Community Bank Credit Cards
The benefits and rewards offered by community bank credit cards play a significant role in their popularity.
Points Programs
Many community banks offer points programs that let you earn points for every dollar you spend. You can then redeem the points for cash back, gift cards, travel and more. Some of the best points programs give you 2-3 points per dollar on all purchases.
Even better are cards that offer bonus points for certain types of spending, like 5 points per dollar at restaurants or gas stations.
Travel Benefits
Do you like to travel? Look for a card that lets you redeem points for airfare, hotel stays and rental cars. Some cards even offer additional travel perks like no foreign transaction fees, travel insurance and airport lounge access. The value of the points depends on the bank, but you can often get at least 1 cent per point in value.
Cash Back
Prefer cold hard cash? Choose a card that offers flat-rate cash back on all your purchases or bonus cash back in certain spending categories like dining, groceries or entertainment.
The top cash back rates are currently 2-3% for flat-rate cards and up to 5-6% in bonus categories. Cash back is redeemed as statement credits or direct deposits to your bank account.
By comparing the rewards rates, redemption options and additional perks of community bank credit cards, you can find one that suits your needs and spending habits. Do a little research and you’ll be earning valuable rewards in no time!
Community Bank Credit Cards With the Best Introductory Offers
Many community banks offer credit cards with generous introductory offers to attract new customers. Here are a few with some of the best deals:
First Community Credit Union
First Community Credit Union frequently runs promotions offering 0% APR for 12 months on balance transfers and new purchases. They also waive balance transfer fees during these promos.
If you’re looking to consolidate high-interest debt or need to make a big purchase, the interest-free period can save you hundreds.
Bank of the Pacific
Bank of the Pacific’s Visa Platinum card provides new cardholders 0% APR for 15 months on all purchases and balance transfers. They also offer bonus reward points after you spend $500 in the first 3 months.
Travel, gift cards, and other perks are all redeemable for the points. With this introductory deal, you may finance purchases for more than a year without paying interest and get points for regular purchases.
Sunrise Credit Union
Sunrise Credit Union offers one of the longest 0% APR intro periods at 18 months for new purchases and balance transfers. They waive balance transfer fees when you transfer within the first 60 days of opening the account.
The Sunrise Platinum Visa card has no annual fee and provides 1% cash back on all purchases. If you have big expenses coming up or want maximum time to pay off balances interest-free, this card can be a great choice.
In summary, you have solid options with community banks for 0% intro APR offers, rewards, and balance transfer deals. Be sure to check the ongoing APRs, fees, and benefits of any card before you apply to ensure it meets your needs after the intro period ends.
Applying for a new card just for the intro bonus when you don’t have any major expenses planned may end up costing you more in the long run.
Conclusion
So there you have it, the lowdown on some of the best community bank credit card offers out there. While the big banks typically get all the attention, don’t overlook your local community bank. They want your business and are willing to offer attractive rewards and benefits to earn it.
Do some research to find the card that matches your spending habits and needs. You may find a hidden gem that provides more value than any nationwide bank.
Get rewarded for helping your neighborhood and enjoy the satisfaction of supporting local businesses. Who says it’s impossible to achieve the best of both worlds?