[Expired – Card Ending] Terps Credit score Card Overview – 30,000 Level Signal Up Bonus

Replace 1/29/25:

The Terps Card program is ending, and on Feb 28, 2025, present Terps Card accounts might be routinely transformed to a UICCU Visa Signature Cashback card (College of Illinois Neighborhood Credit score Union) with 1.5% money again on all purchases, 5% money again on fuel and journey, and a couple of% money again on groceries and eating places. Hyperlink to FAQ: https://www.uoficreditunion.org/terps-card-upgrade-faqs/

Moreover, the non-transactional membership financial savings account with UICCU that got here with Terps Card (since Terps Card is issued by UICCU) might be upgraded to full service transactional financial savings account on Feb 28, 2025.

Hat tip to Gnarly Cow

Bonus now 10,000 factors

Replace: Factors have been dramatically diminished in worth, extra on that right here.

Replace: Bonus has been diminished to 30k

Replace 4/6/19: UofI has decreased the join bonus to 30,000 factors, so it is likely to be a good suggestion to join the Terps card if . Hat tip to neverchurningbutter

Reddit person k0vi86 identified the College of Maryland Terps bank card. It seems to be attention-grabbing so let’s take a look. Replace: Seems to be like College of Illinois has the same card.

Card Fundamentals

• No annual price
• Enroll bonus of fifty,000 factors whenever you spend $5,000 or extra inside 90 days of card issuance
• Card earns 10x factors on all College of Maryland purchases and 1x factors on all different purchases
• 0% introductory APR for the primary 12 months
• In the course of the join course of it says: By acknowledging, you’re affirmatively agreeing that you’re conscious that granting a safety curiosity is a situation for the bank card and you plan to grant a safety curiosity. Seems to be prefer it is likely to be some type of secured card? Not a secured card, no safety deposit required. Extra on that right here.

How A lot Are Factors Value?

Factors have been dramatically diminished in worth, extra on that right here.

Fundamental factor of curiosity is the join bonus. They don’t say precisely how a lot factors are value however they do say that “As of 9/1/2018 50,000 factors lined an October spherical journey ticket from BWI to LAX. Level values are topic to alter at any time based mostly on market price, dates, and areas.” In addition they allow you to browse rewards right here. Some attention-grabbing choices:

• $200 Visa reward card for twenty-four,000 factors
• Third social gathering reward playing cards:
  • $25 for 3,500 factors
  • $50 for 7,000 factors
  • $100 for 12,000 factors
• Based on this remark factors worth for flights is round 1-1.1¢ per level

Our Verdict

After spending $5,000 you’ll doubtless find yourself with 55,000 whole factors. Ignoring the journey redemption as we don’t actually understand how that works it looks like the most suitable choice could be to redeem for 2 $200 Visa reward playing cards (48,000 factors) after which get a $50 third social gathering reward card (7,000 factors). Whole of $450, not unhealthy in any respect. Clearly we principally know nothing about this card and the approval course of/safety deposit required. Who’s going to be the guinea pig?

Extra Promotions

Beneath is a listing of different promotions they’ve provided however now not provide:

Replace 10/10/18: On the promotions web page there’s a new promotion for present cardholders. You possibly can earn as much as 30,000 factors. Spend must be accomplished between October 1st and December thirty first, 2018:

• Spend $2,500 – $4,999 & get 2,500 bonus factors
• Spend $5,000 – $9,999 & get 5,000 bonus factors
• Spend $10,000 & get 30,000 bonus factors

Seems to be such as you’ll be capable of get this along with the join bonus. Hat tip to reader Rob.