Golden 1 Credit Union

• Numerous benefits
• Minimal rates and fees
• Online banking and bill pay

Numerous Benefits

All of the company's credit cards offer low interest rates and a 25-day grace period for all eligible purchases. Cardholders are able to earn 3 percent back on gas, grocery, and restaurant purchases and 1 percent back on all other eligible purchases. There are no limits to the amount of cash back that may be earned and rewards are automatically deposited into the cardholder's banking account. Available credit limits range from $2,000 to $50,000 depending on credit card selection.

Minimal Rates and Fees

APRs on purchases range from 7.79 to 13.79 percent. There are no annual fees or balance transfer fees charged on any of the credit cards. Cash advance transaction fees are the greater amount of $5 or 3 percent of the total transaction. The company charges a $15 fee for late payments and $5 for returned payments. Foreign transaction fees are 1 percent of the total transaction amount. These annual percentage rates and fees are much lower than most other industry competitors.

Online Banking and Bill Pay

Golden 1 provides both mobile and online banking services with bill pay services for its members. Cardholders can view account statements, transfer funds, set up automatic recurring payments, and transfer money to anyone in the world. Customers can customize alerts for transaction activities and reminders for bill due dates. Account holders are also given access to financial tools that can assist them with creating a household budget, prepare tax information, and categorize transaction spending. With the company's mobile app, account holders can deposit checks electronically with a snapshot image and access all online banking services at their convenience from any location.

• Service limitations
• Reward redemption restrictions
• No 24/7 customer service

Service Limitations

The financial services company only provides credit card service to California residents. Consumers must enroll as members and open a saving account with the credit union. Cardholders must place and maintain a minimum balance in the saving accounts in order to qualify for credit card eligibility. However, this requirement is not all that bad since only $1 is required to maintain the minimum balance. All accounts must be in good standing to receive earned cash back rewards.

Reward Redemption Restrictions

Rewards cannot be redeemed for anything other than cash back. There are no travel perks or other non-cash items that are typically offered by many other similar industry competitors. Earned rewards are posted at the end of an account holder's monthly billing cycle rather than immediately after an eligible purchase is made. Other reward redemption restrictions may apply and consumers should read all terms and conditions provided in the service agreement before signing.

No 24/7 Customer Service

Golden 1 does not offer 24/7 customer service for its members. There is no live chat feature available either on the website in order to speak with a customer service representative about any questions or issues that may arise. Customers can contact the company through a toll-free number during normal business hours or by email with response in less than one business day. Company contact information is disclosed on its website.