Abound Credit Union Platinum Visa Card Review, 5% on Gas and 5% Rotating Categories

Abound Credit Union Platinum Visa Review

The Platinum Visa Credit Card from Abound Credit Union is an interesting product that earns 5% on gas and has now added 5% rotating categories as well. The card has no annual fee, and a higher limit on 5% spending compared to other similar cards such as Discover it or Freedom Flex. It was previously known as the Fort Knox FCU Platinum Visa Card, and it is one of the best cards for gas purchases. Now let’s get into this Abound Credit Union Platinum Visa review.

No Signup Bonus

Before we go into the details of this card, you should know that there’s currently no signup bonus. I don’t believe they have ever offered a bonus in the past either.

Earning Cash Back

The Abound Credit Union Platinum Visa earns cash back at the following rates:

  • 5% cash back on gas
  • 1% cash back on all other purchases

There’s no limit on the amount of cash back that you can earn on gas and all other purchases that earn 1% cash back. You will see the total cash back earned during the month in your monthly billing statement.

Quarterly Categories

Additionally, the card now has a periodic rotation of additional cash back specials that at least for 2022 will work as quarterly categories. For each quarter you can earn up to $100 in cash back. That amounts to a maximum spend of $2,000 for specific categories where you can earn 5% cash back. Once you reach that limit, then you earn 1% cash back on additional spend.

For 2022 these categories are:

  • January – March: Health Fitness
  • April – June: Travel
  • July – September: Streaming, Phone, Cable, Internet
  • October – December: Amazon

Applying for the Card

You can apply for the card here, and you can do so even if you’re not an Abound Credit Union member. Just answer “no” to the question about being a member.

Based on information reported by Doctor of Credit, it sounds like they are very sensitive to multiple recent inquiries. More than three inquiries in the past six months will most likely result in a denial. But even less than three will not guarantee approval. They pull from TransUnion.

Guru’s Wrap-up

Considering how hard it is to get approved, and the fact that there is no signup bonus, it doesn’t make sense to apply for most people. The 5% quarterly categories are interesting. But there are several other options out there such as Discover it or Freedom Flex which also offer a signup bonus.

The only reason this card would make sense is if you have tons of gas purchases. We’re talking about five figures annually, so maybe if you’re e truck driver, or taxi driver. It’s possible that other “automotive” purchases such as car repairs with also earn 5% cash back on the Abound Credit Union Platinum Visa, but it’s not guaranteed.


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