SkyOne Launches Platinum Elite Credit Card – $600 Bonus, Choose Your Own 3x Category

Update 11/22/21: Bonus has been increased to $600 (from $300). Hat tip to reader Gadget

SkyOne Federal Credit Union has launched a new credit card called ‘Platinum Elite‘. Let’s take a look at this card:

  • Sign up bonus of $300 after approval and 30,000 points after $3,000 in spend within the first three months (worth $300)
  • $65 annual fee, waived for the first year if you apply by December 31, 2020
  • Starting January 1, 2021 select rewards in Choice Rewards program. Users will be able to select a category to earn 3x in and 2x in ($7,500 spend cap), all other purchases will earn 1x per dollar spent.

Can’t see this being worth keeping long term due to the low earning rate and annual fee, but could be worth it for the $300 sign up bonus depending on how difficult it is to get approved for.