Credit Card News
Skyla Credit Union Introduces Signature Credit Card
Skyla Credit Union is ready to level up with the release of its latest credit card.
About the Skyla Signature Credit Card:
This week, Skyla Credit Union launched its new Skyla Signature Credit Card. With this no-annual-fee card, customers can earn 2x rewards on all purchases, regardless of spending category. These points can then be redeemed for cashback, gift cards, merchandise, experiences, travel, and even theme park tickets.
According to Skyla, this new card is designed for well-qualified borrowers. With that in mind, the card offers credit limits of up to $50,000. Meanwhile, cardholders can currently unlock 0% APR on purchases for up to 12 months.
Beyond that, the new Skyla Signature Credit Card includes other benefits and perks. With the card being a Visa Signature, cardholders can take advantage of Visa’s Luxury Hotel Collection, Car Rental Discounts, and more. Plus, adding to the premium nature, the physical card is made of metal (although it still supports contactless payments).
To celebrate the launch of the new card, Skyla is offering a welcome bonus. Currently, new cardholders can earn 25,000 bonus points after spending $1,000 in their first 90 days from account opening.
My Thoughts:
Looking at Skyla’s other cards, I can see why they were excited to launch this latest product, as it does represent quite the upgrade in my opinion. But how does it stack up against the credit card market at large?
The past few years have seen a bevy of 2% flat-rate cards hit the market. This includes the Wells Fargo Active Cash card, TD Double Up, and, most recently, U.S. Bank Smartly card — all of which join the first one I recall seeing: Citi Double Cash.
However, there are a few small features that make the Skyla Signature card stand out. For one, the credit union is emphasizing the potential for larger credit limits. Also, while metal cards are also far more common today than they were just a few years ago, this is still a nice touch that adds an air of elevation (it’s also less common for no annual fee cards, so there’s that). Meanwhile, on the more practical side, the 0% APR for 12 months offer could be useful for cardholders with large purchases in their future.
Personally, since I just opened the 2x miles Capital One Venture Card just a couple of months ago, the timing isn’t right for me to get this particular card. However, down the line, this no-annual-fee, double-points card could definitely find a place in my wallet.
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