Important Changes to Your Mastercard® Credit Card Account Terms

Starting Jan. 1, 2023, RBFCU will implement significant changes to our portfolio of Mastercard credit cards. We are announcing important changes to account terms, which include options for the future use of your card and how you can continue to use the card as we prepare for the next steps.

An updated card with a new design is coming in 2023. It will feature convenient ways to use it to pay for the things you want, plus added security. Our goal is to give you the choice of great rewards, competitive rates, fun benefits and enhanced new ways to easily manage your card!

FAQs: RBFCU Mastercard Credit Card ("Card") Change in Terms

  • What are my options with the Card that I currently use?
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    You can either accept the change in terms and continue using your Card, or you can reject the changes and discontinue use of the Card.

    If you decide to no longer use the Card, you’ll need to inform RBFCU by the end of business on Saturday, Dec. 31, 2022 at 1-800-580-3300 (Monday through Friday from 8 a.m. to 6 p.m. and Saturday from 8:30 a.m. to 4 p.m.). RBFCU will close the Card account.

    If you do not inform us that you are rejecting the changes, we will continue our relationship with you through the Card according to the IMPORTANT CHANGES TO YOUR ACCOUNT TERMS notice.

  • If I continue with the Card, will I have the same interest rate that I have now?
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    All cards in the RBFCU Mastercard portfolio starting in 2023 will be variable rate cards; therefore, rates are subject to change based on the Prime Rate. If you continue using your Card, any changes to the Annual Percentage Rate (APR) will apply to transactions made on or after Jan. 1, 2023. For a description of the calculation of the APR,* please see the end of these FAQs.

  • What will happen to my account balance on transactions made prior to that Jan. 1, 2023 date?
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    Your account balance will be subject to the current APR calculations for transactions made prior to Jan. 1, 2023. Only transactions made on or after Jan. 1, 2023 will be subject to the new terms.

  • If I reject the changes, what will happen regarding the use of my Card?
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    Your Card will be closed, and you will not be able to use the Card account for any new transactions. You must continue to pay your balance owed according to your current Mastercard agreement.

  • What will happen to the cash back or points that I have accumulated if I reject the changes?
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    Gold and Platinum CashBack cardholders who have accumulated cash back will see their cash rewards distributed on the annual payout date. If you have accumulated points on the Platinum Points Rewards card, you must redeem your rewards prior to closing the account. According to the terms of your existing Credit Card Agreement and Disclosure (Agreement), any cash or points rewards are forfeited when the card is closed before redemption.

  • What happens with my cash back if I continue with the Card according to the IMPORTANT CHANGES TO YOUR ACCOUNT TERMS notice?
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    The cash back you earn with the RBFCU CashBack Rewards Mastercard credit card after the annual payout date will continue with no limit on earning cash back. The cash back you earn can be redeemed at any time.

  • Will there be any increase in fees related to my Card?
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    Yes. The new fees will be as follows:

    Balance Transfer fee 2% of the amount of each Balance Transfer
    Return Payment fee Up to $29
    Late Payment fee Up to $29

FAQs: What's new with Cards in 2023?

  • When I decide to continue with the Card, will I receive a new card?
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    Yes, an updated card is coming in 2023! To view a graphic description of new credit card features, visit Until you receive your new Card, you may continue using your existing Card.

  • What do I have to do in order to receive my new Card?
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    No action is required on your part. You will receive updated information on the delivery of your new Card in the first quarter of 2023.

  • Will my account number change?
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    Yes, your account number will change when you receive your new Card. Issuing a new card account number will assist us with a top priority of Card security. The new account number and expiration date will assist us in protecting your account from fraud.

    The three-digit CVV number on the back of your Card will also change.

    Note: Please be ready to contact merchants with whom you have recurring payments linked to your current Card. They will need the updated information of both the Card and CVV numbers on the new Card in order to process future charges. This applies to authorized users as well. An authorized user is granted access to another individual’s credit card account. The user has the same charging privileges as the primary cardholder but isn’t financially responsible.

  • What other features will add security to my Card?
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    The new cards will enable you to make contactless payments (also referred to as touch-free or tap-and-pay). Not only is this convenient when you pay, contactless credit cards add security with the use of tokenization to mask your actual credit card number and protect your Card information from being stolen. Also, you can continue to load your Card to your mobile wallet, which will use the same tokenization as contactless cards.

  • What are the basic features of the Card portfolio in 2023?
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    There is no annual fee on any of the RBFCU credit cards. The RBFCU World Cash Back card will offer 2% cash back on every purchase, every time. There’s no limit on earning cash back, and the cash back you earn can be redeemed at any time. We also will continue to offer the RBFCU Premier Rate Mastercard with a competitive interest rate, and the RBFCU Business Select Mastercard with 2% cash back on purchases by business owners.

  • Will I get a new credit limit?
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    The credit limit on your new Card will remain the same as that of your existing Card.

    Note: To request an increased credit limit, please visit to apply.

  • Will my payment due date change?
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    Your due date may change. If you wish to select a new payment due date, you may contact RBFCU at 1-800-580-3300 (Monday through Friday from 8 a.m. to 6 p.m. and Saturday from 8:30 a.m. to 4 p.m.) after you receive the first statement with your new Card.

  • Where can I find the Agreement Billing Rights & Credit Card Disclosures?
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    All agreements and disclosures can be found at Cardholders also can go to and click the “Loans” tab. Scroll down the page to “Credit Cards.”

  • What will happen if I don’t complete my application by 11:59 p.m. CST on Jan. 15, 2023?
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    For new credit card requests, review your Loan Status Page for any “next steps” that may need to be satisfied for finalization. If all actions have been satisfied before Jan. 15, you should receive your new card(s) within 3-5 business days. If all actions are not completed by 11:59 p.m. CST on Jan. 15, there will be a delay in receiving your card(s) and your application will be finalized beginning in February, after which you will receive your upgraded and newly designed card.

  • How does the credit card conversion impact my request for a credit limit increase?
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    For credit limit increase requests, review your Loan Status Page for any “next steps” that may need to be satisfied for finalization. If your rate increases as a result of your application, we’ll be able to finalize changes beginning in March. If you require funds sooner, please consider applying for a Personal Loan.

Have additional questions?

Credit cards are subject to credit approval. Program availability, rates and terms subject to change without notice.

* The APR is based on the Prime Rate, and the APR will equal the Prime Rate plus an additional amount. If the Prime Rate increases, it will cause the APR to increase. If the Prime Rate decreases, it will cause the APR to decrease. The APR is subject to change quarterly. We use the Prime Rate published in The Wall Street Journal seven (7) days prior to the end of the quarter. If the Prime Rate causes an APR to change, we put the new APR into effect as of the first day of the next billing period after the start of the January, April, July or October billing cycle for which we calculate the APR. We apply the new APR to any existing balances, subject to any promotional rate that may apply. If The Wall Street Journal does not publish the Prime Rate, we will use a similar published rate.

Rewards cards must be open and in good standing at the time of redemption.