The Offer
- Skyla Credit Union is offering 10,000 points after $1,000 in spend within the first three months. Card also offers 0% APR and 0% balance transfer fee for the first 12 months
Card Details
- No annual fee
- Earn unlimited double the Reward points on every purchase until June 30th
Our Verdict
This is available nationwide, might be of interest due to the 0% APR and 0% BT fee depending on what credit limits are like.
I applied on 7/27 and was approved on 8/5. Interesting and unusual application experience.
As other comments have indicated – this credit union seems to value relationships. I did not have one with them prior to applying and had to go through underwriting. All correspondence was via email and text message with a single representative. I had to submit a copy of my driver’s license, most recent pay stubs, credit card statement for the balance transfer, and answer the following questions. (1) What is the purpose for the credit card? (2) What limit are you requesting?
Be ready to provide proof of income for what you put on the application. I used my household income on the application, which exceeds my W-2 earnings. I had to explain that the difference comes from varied sources of income. They requested my tax returns to support this. I ultimately declined and authorized them to just use my W-2 earnings.
This card has a max limit of $25k of which I was granted. They sent notification that a check for 23,019.25 (92% of my limit) was being sent to the credit card from which I’m transferring the balance. I’m not sure why they didn’t send the full $25k.
CREDIT SNAPSHOT:
Credit score around 750
100% payment history
7% utilization
Quite a few aged revolving accounts and installment loans
1 recent inquiry
I just got approved for this. Be advised that if you do not currently have an account with them, you can expect a level of underwriting more commonly associated with traditional loan products than with credit cards. I had to send in copies of recent paystubs, a letter from HR confirming my employment, and the like. (And this is with a 778 FICO.)
As the other commenters have mentioned, they seem to take your overall relationship into account as opposed to basing their decisions solely on a credit check.
What credit limit did they give you?
I’m interested in what credit limit you ended up with?
I’ve been a member of Skyla for several years. They’re pretty good about approving cards and they take your relationship into account when underwriting loans. They have a referral program, if you open an account mention Conor Baker in the referral field.
Does this CU need us to join an org?
If outside NC you have to join the Carolina Consumer Council.
It’s cool to see a 0% apr $0 transfer promo card but since it’s offered by a CU I doubt you’ll get approved without existing relationship or outside of footprint and even then the limit will probably be very low.
can someone share what credit score you need to get this card approved? i am at 600 right now
can someone share their experience of what credit limit they have for this card? would be great to carry on my 0% APR with a 0% balance transfer for another 12 months while getting 6% interest….hehe
Just a heads up, I just did this exact same thing transferring a 20k balance to a CC that had $0 balance transfer fees and 0% interest for 12 mos and it dropped my credit score from 825 to 660 overnight. At least I’ll be getting the $1200 in interest over the next year, but took a hit to my credit score in the meantime.
which credit card did you transfer it to? yea same boat here. my credit score is 600 right now because of the 0% APR and i have been putting the payments in a HYSA so i can pay it all off when 0% APR is over. The thing is if you paid off the bill, next month your credit score would go back up to 750 and 800 in 2 months. I am not applying for credit atm so I don’t care it is 600 or not.
FAIRWINDS CU credit card
Anyone applied who has a sense of the credit limit? Contemplating if this would be worth a 5/24 slot.
How much are the points worth? Is this equivalent to a 2% cashback card?
1 cpp if you’re doing straight cash back, and it looks like you only have the option to redeem for $100 or $500.
Does anyone know the value of these points in cash? I’m guessing $100 maybe?
Yes, $100
Thanks for letting me know!