Visa Memberperks and FIRST Credit Cards Discontinued
Members 1st Credit Union is discontinuing the Visa Memberperks Rewards and Visa FIRST Rewards credit cards on June 26, 2023. The decision to discontinue the rewards cards was due to vendor limitations that constrained the credit union's ability to offer an enticing rewards program. Larger competitors hold an advantage over Members 1st Credit Union's rewards program due to their sheer volume, allowing them to offer rich rewards at a low cost. Members 1st cannot offer the same value and made the difficult decision to discontinue the rewards program to focus efforts on other areas that return greater value to credit union members.
"This was a difficult decision to make, but the right decision," stated Josh Markle, Vice President Marketing for Members 1st. "Our members expect the very best products and services from us. Unfortunately, our rewards program was not meeting this standard," said Markle. Although Members 1st will no longer offer new Memberperks and FIRST rewards cards, existing cardholders can continue using their rewards cards until June 26, 2023. Members will stop earning reward points for purchases on April 5, 2023. The last day to redeem rewards points before they expire is June 4, 2023.
Cardholders will receive a new Visa Classic credit card in place of their previous rewards card with the added benefit of a reduced interest rate. There will be no impact on a cardholder's credit score as the new Visa Classic credit card received will share the same account suffix as the previous rewards card. All credit limits, balances, and transaction history will remain on the same account suffix. The credit union will continue to offer a "First-time credit card program" through the Visa Classic credit card.
Questions about the Memberperks and FIRST rewards cards and program expiration can be answered by calling (530) 222-6060 or after business hours using the web form here.
April 5, 2023: Last day to earn points. Purchases made after this date will no longer earn reward points.
June 4, 2023: Last day to redeem your reward points. Any points not redeemed by this date will expire. Point redemption is available within Online Banking, the Mobile App, or by visiting www.m1cu.org/redeem.
Mid-June 2023: A new Visa Classic credit card will be mailed to you with your same credit line. Please activate cards upon arrival. NOTE: Automatic payments set up with merchants will need to be updated with your new card number and security information.
June 26, 2023: Visa Classic credit cards will need to be activated by this date to have uninterrupted availability. Visa Memberperks and Visa FIRST rewards cards will cease functioning on this date.
Why are the Memberperks and FIRST rewards cards expiring?
The Memberperks and FIRST rewards cards are expiring due to program limitations that do not meet the standards of Members 1st and the expectations of our members.
Will my Memberperks and FIRST credit card still work?
Yes, existing cards will continue to work until June 26, 2023. Members will receive their new Visa Classic replacement card in early or mid-June and are encouraged to activate their card right away.
When will my Memberperks and FIRST credit card stop working?
Your Memberperks or FIRST card will stop working on June 26, 2023. Members will receive their new Visa Classic replacement card in early or mid-June and are encouraged to activate their card right away.
Can I still redeem rewards points?
Yes, reward points can continue to be redeemed up to June 4, 2023. Click here to view how to redeem your points within Online Banking or the Mobile App. Click here to register and login to the rewards program from your web browser, or call (800) 854-0790 to redeem rewards by phone.
Where can I go to redeem my reward points?
Click here to view how to redeem your points within Online Banking or the Mobile App. Click here to register and login to the rewards program from your web browser, or call (800) 854-0790 to redeem rewards by phone.
Will this impact my credit?
No, your credit score will not be impacted. Your new Visa Classic card will share the same suffix as your previous rewards card. All credit limits, balances, and transaction history will remain on the same suffix within your account.
What if I already have a Visa Classic credit card?
All rewards cardholders will receive a new Visa Classic credit card. If you have an existing Visa Classic credit card and would not like to receive a second card, please contact us at (530) 222-6060. NOTE: Closing your card account may impact your credit.
Can I combine my rewards points with multiple cards on my account?
Yes, combining rewards points from multiple cards is called "Householding." View our tutorial on how to Household your account.
Will I receive an interest rate reduction on my new Classic credit card?
Most members will receive an interest rate reduction on their new Visa Classic credit card. A notice was mailed to all cardholders sharing your new interest rate. If you did not receive notice of your new interest rate, please contact us at (530) 222-6060.
About Members 1st Credit Union
Members 1st Credit Union is a locally owned cooperative dedicated to providing relevant financial services that our members need to achieve their goals and dreams. Members 1st has five branch locations in Redding, Anderson, and Chico. Membership is available to anyone who lives, works, worships, owns land, or owns a business within Butte, Glenn, Shasta, and Tehama counties. For more information, visit one of our convenient branches, call (530) 222-6060, or visit m1cu.org.
1380 Hilltop Road
Redding, CA 96003
1260 Pine Street
Redding, CA 96001
5020 Rhonda Road
Anderson, CA 96007
550 Salem Street
Chico, CA 95928
969 East Avenue
Chico, CA 95926
(530) 222-6060 x359