DENVER —Westerra Credit Union is leaning into an issue that is top-of-mind with consumers–affordability–with the introduction of a cash-back credit card designed to help consumers stretch their budgets and manage existing credit card debt.
The new Smart Cash Back Visa Signature Credit Card, launched Nov. 6, offers rewards on everyday purchases, a 12-month introductory 0% annual percentage rate on balance transfers and no annual fee.
The $2.1-billion credit union said the card is intended to address affordability pressures facing families along Colorado’s Front Range, where household budgets have been strained by living expenses.
“Coloradans need real breathing room in their monthly budgets and that’s why Westerra is looking for ways to help people save and spend smarter,” said Ryan Knight, Westerra’s director of external affairs.
Cash Back on Everyday Expenses
According to Westerra, the card offers:
- 3% cash back on fuel purchases.
- 2% cash back on grocery and warehouse club purchases, including Costco.
- Unlimited 1% cash back on other eligible purchases.
- A $200 welcome bonus after $1,500 in eligible net purchases during the first 90 days.
- No annual fee, along with Visa Signature benefits that include travel protection, roadside dispatch, identity theft protection and extended warranty protection.
Cardholders can track rewards through monthly statements and online banking and redeem their cash back at any time.
Balance Transfer Offer
The card also provides a 0% introductory APR on balance transfers for the first 12 months, although a 3% balance transfer fee applies. After the introductory period, a standard variable APR of 18% to 21% applies.
The offer could provide temporary interest relief for qualifying borrowers carrying balances on higher-rate credit cards, although the transfer fee and subsequent interest rate could affect overall savings.
“When your grocery bill and your commute cost more every month, every percentage point matters,” Knight said.
Westerra said the new card is part of its broader efforts to address affordability through financial products, down payment assistance mortgage programs and community financial wellness initiatives.
The card is available to existing and new credit union members who meet standard credit requirements.
