|by Mr Credit Card|
Summary – The Texas Tech Alumni credit card is a credit card specifically issued for students of Texas Tech. It is an no annual fee credit card that comes with a reward program. Let’s find more about this card.
Reward Features – This card is actually issued by Chase and is actually also a reward. The rewards (according to Chase web site) is based on the Flexible Rewards. The isn’t any detail on their website about the reward program. But fortunately, I have the Chase Flexible Rewards Card and so am able to comment on it. But first, for this card, you earn one reward point for every dollar that you spend on the card. You can earn up to 60,000 points in one calendar year and the points are good for 5 years.
Flexible Rewards – The Flexible Rewards program has the usual range of rewards like
Let’s look at the Flexible Rewards in greater detail.
Travel – The Flexible Rewards has several means to redeem your points for travel. You can use 25,000 points and redeem it for a round trip domestic coach class ticket around the US for a ticket value no greater than $350. You can also transfer points into air miles of Continental Airlines, United Airlines and British Airways. For example, you need 6,000 points to for a transfer and you will get 5,000 miles in return. Chase also has a feature where you can book any travel item on your credit card (with any agent, online or offline). You can then use your points to redeem (at a rate of 15,000 for $150 worth in travel items like hotels, airlines etc).
Gift Cards – Like most other reward programs, the Flexible Rewards also allows you to exchange points for gift cards. As you can see from the picture below, you need 1,000 points to get a $5 gift card. But as you go higher up, 5,000 points gets you a $50 gift card. So do not exchange points for gift cards unless you intend to use 5,000 points and you get better value for your money at that level.
Merchandise – When I first got my Chase card about 3 years ago, there was hardly any merchandise rewards. It has steadily improved over the last few years.
Cash Rewards – You can also exchange points for cash rebates (though I would not suggest that you do that). Points can also be exchanged for a lower interest payment if you have a Chase mortgage for example.
Donation to Texas Tech – Usually for an Alumini Credit Card, a portion of every dollar that you spend (maybe a couple of cents) will be donated to your alumni. However, no where on Chases website can we find this information.
Rates and Fees – There is no annual fee for this card. New card members will get an introductory APR of 0% on both purchases and balances for up to six months depending on your credit. The APR is calculated by adding either 5.99% or 9.99% to the prime rate.
Verdict – This card is clearly targeted at Texas Alumni. In the old days, getting an alumni credit card meant getting a plain vanilla credit card. But these days, most of them come with reward programs. For this card, the program is the Flexible Rewards program. As I have a card with the program, I would say that it is alright (not great) and certainly improved over the last couple of years.
If you are just looking for a reward card, you will find better reward credit cards out there. But if you are a Texas Tech Alumni and want to show that on your credit card, then this will be the card to get.