Redwood Credit Union has been serving the communities of the Northern Bay area of California since the 1950s. This local credit union has a serious dedication to its members and their success, which is shown through the services and resources offered. Like most financial institutions, members can utilize several services, including checking and savings accounts, a variety of loans, credit cards, and investments. Redwood Credit Union also provides its members with free educational resources to help them understand their finances.

Rank Chart
APR
Reward Options
Our Score
#1
6.99 - 10.5%
Yes
6.2
#2
0 - 18.15%
Yes
6.2
#3
5.99 - 18%
Yes
6.1
#12
Redwood-150x150
8.99 - 18.24%
Yes
5.8

The Good

  • Lack of fees
  • Educational resources

Lack of Fees

Oftentimes, additional charges and fees attached to financial accounts can cost customers a lot of money each year. One of the most common additional charges is an annual fee that must be paid simply to hold a card. Fortunately, Redwood Credit Union does not charge its members any annual fees. Further, the company does not charge any foreign transaction or balance transfer fees, which keeps more money in the pocket of the customer. Redwood Credit Union also recently pumped up their security measures. They now include 24/7 fraud monitoring and Zero Liability protection.

Educational Resources

Redwood Credit Union provides a variety of educational resources for its members to use. These resources can help customers to learn more about the intricacies of finance and shed some light on the sometimes confusing language used throughout the industry. One resource that is specifically offered for credit card customers is the Visa Credit Builder Card. This program provides cardholders with quarterly check-ups and advice on how to continually improve their credit score, which has proven to be extremely helpful for many members.

The Bad

  • Limited card options
  • Spending limits and rewards

Limited Card Options

Redwood Credit Union members who are interested in getting a credit card through this company will find that there are very limited options available to them. Redwood only offers two credit cards to its members—the Visa Platinum Card and the Visa Credit Builder Credit Card. The fact that members only have two options to choose from leaves out a lot of services and features that could potentially be a great fit for them and their situation.

Spending Limits and Rewards

While these two cards are decent, they are not the best. These cards seem more tailored to someone who is new to credit because of their lower spending limits and reward options. Customers who need more from a credit card may have to go through a different banking institution in order to find the perfect fit.

The Bottom Line

Those who are currently Redwood Credit Union members and are already using one of its debit cards with their account will be the best fit for these credit cards because the cards are designed to work hand-in-hand with and complement each other. This is especially true for the rewards program because customers will earn more points by using both cards together. However, those who would like different features than what is offered will most likely be better working with a different company.

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