HONOLULU — With the high cost of living and rising interest rates affecting households across Hawaii, Hawaii State Federal Credit Union (Hawaii State FCU) has proactively designed a new credit card product that offers greater benefits for its members. The new Hawaii State FCU Always Cash Rewards Visa® Signature Card offers an industry-leading 2.5% Annual Percentage Rate (APR) cash back rewards on all purchases regardless of the spending category, and no annual fees.
“By earning a substantial cash back reward on every purchase made, and eliminating the burden of annual fees, our members will be able to stretch their hard-earned dollars further,” said Andrew Rosen, president and CEO, Hawaii State FCU. “Hawaii State FCU is committed to providing innovative solutions and products that not only reward our members for their loyalty, but also enhance their financial well-being. As the cost of living rises and credit card usage increases, we’ve seen a greater demand for a credit card product that offers strong rewards on purchases.”
In 2022, Hawaii State FCU surveyed its members to understand what drove their primary credit card usage behavior. The survey revealed that most members disliked credit card annual fees, and they valued rewards as the most important feature in their primary credit card. The number one preference for rewards was cash back on all purchases.
The Always Cash Visa Signature Rewards Card offers 2.5% on all net cash purchases up to $5,000 every billing cycle, and 1.25% on purchases above $5,000. Unlike most major credit cards, the Always Cash Visa Signature Rewards Card has no categories or tiers, allowing cardholders to maximize their purchasing power. The cash back rewards can be redeemed on demand through the Hawaii State FCU website or mobile app. Additionally, there are no annual fees or foreign transaction fees.
Hawaii State FCU offers both physical and digital credit cards. In 2021, the credit union was the first financial institution in Hawaii to offer instant access to replacement credit cards through their mobile wallet. And on July 24, 2023, Hawaii State FCU launched a new feature that simplifies the process of adding a credit card to the mobile wallet via the Hawaii State FCU app.
For more information about Hawaii State FCU’s new Always Cash Visa Signature Rewards Card, please visit www.alwayscashcard.com.
About Hawaii State Federal Credit Union
Hawaii State Federal Credit Union (Hawaii State FCU) was founded in 1936. Serving state, city and county employees as well as non-profits and select businesses and their families across the state, Hawaii State FCU has more than 120,000 members and $2.3 billion in assets. Hawaii State FCU provides financial advising, checking, savings and loan services on Oahu and Maui. For more information, visit www.HawaiiStateFCU.com.