You will get cash back, gift card, LoungeKey access, and travel insurance.
Sign-up bonus
The REI credit card is a cash-back card. It earns a certain percentage of each purchase as cash back. Unfortunately, there’s no cash sign-up bonus or loyalty bonus. If you have a high enough spending level, you may want to apply for the card. It can be quite helpful if you plan on using the card for purchases at REI stores.
For new cardholders, REI’s Co-op Mastercard offers a $100 gift card. There is no minimum purchase amount and you will receive the gift card six to eight weeks after opening your account. To qualify for this bonus, you must make a purchase within 60 days of opening your account. The $100 gift card is mailed to you six to eight weeks after you spend $100. To get the REI credit card sign-up bonus, you must be a co-op member of REI.
The REI Mastercard comes with a 5% cash back on REI purchases. However, you should pair it with another rewards card that offers at least 2% cash back. The benchmark is the Citi Double Cash Card, which earns 2% cash back on purchases and has no annual fee. That’s more than enough incentive to apply for the REI credit card. There are other credit cards that offer higher sign-up bonuses, but REI’s MasterCard is worth considering.
If you’re looking for a credit card with no annual fee, REI’s Mastercard may be for you. This card does not have an annual fee, so you can transfer funds overseas without worrying about a penalty interest rate. In addition, the card comes with a 3% balance transfer fee. It’s not free, but it’s certainly better than no bonus at all. You should view this as a convenience rather than a necessity.
REI offers a $100 introductory bonus as a signup incentive for its credit card. This is an extremely attractive signup incentive, and the card also offers 5% cash back on all purchases, including gift cards and items on sale. Besides that, the card also comes with a 10% REI discount. And with the $100 bonus card, you’ll be saving even more money. But there’s one caveat: REI’s rewards don’t post immediately. They’re distributed annually in March. Show me the money.
I recently purchased a kayak using my REI credit card, and it was a seamless and rewarding experience. As an avid outdoors enthusiast, I have been eyeing a kayak for quite some time. When I stumbled upon the REI credit card, I knew it would be the perfect way to fund my purchase while also earning rewards.
The process of using my REI credit card to purchase the kayak was straightforward. I simply added the kayak to my cart on REI’s website, entered my credit card information, and clicked “purchase.” Within a few days, the kayak was delivered right to my doorstep. Not only was the process easy, but I also earned rewards points for the purchase, which I can use towards future outdoor gear purchases. I had the cash but preferred to use the card.
There it was—an ocean kayak that seemed to beckon me, its sleek design and vibrant hue standing out among the rest. It was a 12-foot long sit-on-top model, known for its stability and comfort, perfect for the serene lake trips I had in mind. The specs were impressive: it boasted a lightweight yet durable polyethylene construction, weighing in at around 56 pounds, which meant I could handle it on my own during solo trips.
The kayak was equipped with a comfortable seat that promised hours of paddling without the usual lower back fatigue, adjustable footrests to accommodate my 6-foot frame, and a storage hatch that was just the right size for my gear—about 18 inches in diameter, perfect for stowing my lunch and a dry bag with essentials.
The sales associate at REI was incredibly helpful, sharing tips from his own kayaking experiences and advising me on the best paddle length to complement the kayak’s width, which was a generous 34 inches, ensuring stability. He also helped me select a PFD (personal flotation device), emphasizing the importance of safety on the water.
I left REI that day with the kayak securely strapped to the roof of my car, a sturdy pair of 230 cm paddles, and a sense of accomplishment.
Dividends
If you have a REI credit card, you can earn 10% back on purchases and receive a 15% dividend each year. That’s great, but you may have questions about your credit score. To get a good idea of your score, look up your credit report on U.S. Bank’s website. You can also request your dividends in cash or by check. The grace period is 24 to 30 days, and if you make purchases on your card during this time, you won’t be charged interest. Checks, however, are issued to cardholders only during the same time frame.
The REI Co-op Mastercard is another excellent option. It is associated with the REI Co-op, which gives cardholders the opportunity to earn 5% back on purchases. If you use your REI credit card frequently, you will also earn 2% back on purchases, as long as you spend less than $500. You will also receive 10% back on eligible purchases in 2020. This card is free, so it’s worth looking into.
Mobile wallet earning rate
The REI Mastercard offers a 2% mobile wallet earning rate, which is good for those who use Apple Pay, Samsung Pay, or Google Wallet to make purchases. The rate is not very high, but it’s better than nothing. Plus, new REI Mastercard holders can get a $100 REI gift card when they open an account within 60 days of joining the REI program. However, this isn’t a market-leading bonus.
The REI Credit Card also offers a free membership to LoungeKey, which offers free access to 400 airports in 120 countries. This membership is also optional, but it can save you a lot of money if you travel frequently. Additionally, you can access your credit rating through an online account. The report is only for educational purposes and cannot be used by banks to make financial decisions. However, if you have good credit, it’s well worth checking out the REI Mastercard.
Annual fee
The REI credit card doesn’t have an annual fee, but it does charge a balance transfer fee. Generally, 3% of the amount transferred is a standard rate on most credit cards. The minimum balance transfer is $5, and it works at all ATMs. The cash advance fee is 5% of the purchase price, with a maximum of $10. If you need to use the ATM, the REI card is a good choice.
The REI Co-op Mastercard comes with multiple benefits, including rental insurance, emergency support, and purchase protection. Other perks include trip cancellation insurance, travel assistance insurance, and fraud protection. You can even receive free REI merchandise through the REI Co-op World Mastercard! Getting an REI credit card is as easy as a few clicks.
With the REI Mastercard, you can enjoy the benefits of a credit card while doing good. The company donates 10 cents of each transaction to its REI Foundation, a 501(c)(3) private foundation with a mission to reconnect underrepresented groups with nature, advance climate action, and promote outdoor recreation. The amount of donations is not fixed, and any transaction posted late December of a current year may not count.
The REI Co-op Mastercard earns you 5% cash back on purchases with the REI co-op. In addition, you can also get 1% cash back on all other purchases. If you’re planning on buying outdoor gear, the REI Co-op Mastercard is a great option. The REI Co-op Mastercard is great for those who like outdoor adventures and travel. It also has a number of great benefits, such as travel insurance and vacations.
To be approved for an REI credit card, you need a 700 credit score. Your score will be based on past negatives, recent inquiries and current debts. If you are close to the required score, you may still qualify.
Capital One has $440 Billion in assets.
It offers financial services like loans and credit cards. It is in the S&P 100 and trades on NYSE as COF.
You are allowed to have more than one cards from them, as many as your standing will allow.
In 2021 REI had $3.7 Billion in sales with net income of $98 million. They have 178 stores in 42 US states and 20 Million members.
FAQ
1. Cashback Rewards:
- 5% back on REI purchases: This reward is provided as a statement credit on your account. Note that this is in addition to the regular REI member dividend, effectively giving you up to 15% back on REI purchases.
- 2% back on mobile wallet purchases: When you use your card with a compatible mobile wallet (like Apple Pay or Google Pay), you can earn 2% back on these purchases.
- 1% back on all other purchases: All other eligible purchases made with your card earn you 1% back.
These rewards accrue and are issued annually as a member reward, which can be spent at REI.
2. Charitable Donations: Every time you make a purchase with your REI Co-op World Elite Mastercard, REI makes a donation to the National Forest Foundation, supporting projects that improve and enhance National Forests and Grasslands.
3. No Annual Fee: The card does not have an annual fee, which can be a significant advantage if you plan to use the card regularly.
4. Travel and Purchase Protections: As a World Elite Mastercard, this card offers a suite of benefits:
- Travel Accident Insurance: Coverage in case of accidental death or dismemberment when traveling on a common carrier (plane, train, ship, or bus).
- Auto Rental Collision Damage Waiver: Secondary coverage for damage due to collision or theft when you rent a car using your card.
- Extended Warranty: Extra warranty protection at no charge on eligible purchases.
5. No Foreign Transaction Fees: This can be a valuable feature if you travel abroad, as many cards charge about 3% on purchases made outside the U.S.
6. Emergency Card Services: If your card is lost or stolen, you can get an emergency card replacement and a cash advance.
7. Zero Fraud Liability: You’re not responsible for unauthorized transactions if your card is lost or stolen.
8. REI Co-op Member Reward: You’ll receive your REI Co-op Member Reward annually, which you can spend on REI merchandise.
9. Application Process:
- Online Application: You can apply for the REI Co-op World Elite Mastercard directly on REI’s website. The application will ask for your personal information, including your name, address, phone number, Social Security number, and income information. It’s important to provide accurate and truthful information on your application.
- Credit Check: When you apply for the card, U.S. Bank, which is the issuing bank, will conduct a credit check to determine if you qualify for the card and to set your credit limit and interest rate.
- Approval: The approval for the card can be instant, but in some cases, U.S. Bank may need to review your application further. In such cases, they will typically provide a decision within a few days to a week.
10. Customer Service:
- U.S. Bank provides customer service for the REI Co-op World Elite Mastercard. You can reach out to them if you have questions about your account, need assistance with your card, or want to report fraudulent activity.
- In addition to phone support, U.S. Bank offers online account management where you can check your balance, make payments, view transactions, and manage your account.
11. Mobile App:
- U.S. Bank offers a mobile app where you can manage your REI Co-op World Elite Mastercard from your smartphone. You can view your account balance, make payments, set up alerts, and more.
FAQ
2. What rewards do I get with the REI Co-op Mastercard?
With this card, you earn 5% back on REI purchases, 2% back on mobile wallet purchases, and 1% back on everything else. It’s like you’re climbing a rewards mountain, and every purchase gets you closer to the summit!
3. Is there an annual fee for the REI Co-op Mastercard?
Nope, there’s no annual fee. That’s right, it’s as free as a bird soaring through the sky! You just need an REI Co-op membership, which is a one-time fee of $20 (a cost even cheaper than most camping meals!).
4. Is there a sign-up bonus?
There is usually a sign-up bonus for new cardholders. It’s like finding a surprise s’mores kit in your backpack – sweet and satisfying!
5. Can I use the REI Co-op Mastercard anywhere?
Absolutely! You can use it anywhere Mastercard is accepted, which is basically everywhere. It’s like having a universal camping pass for shopping!
7. What kind of credit do I need for the REI Co-op Mastercard?
Typically, you’ll need good to excellent credit to qualify for the REI Co-op Mastercard. So if your credit score is camping out in the high ranges, you’ve got a pretty good shot!
8. Does the REI Co-op Mastercard have a foreign transaction fee?
No, the REI Co-op Mastercard does not charge foreign transaction fees. It’s like having an all-access pass to the world without the extra charges!
9. How does the 5% back at REI work with the REI member dividend?
The 5% back is in addition to your REI member dividend. So, it’s like getting an extra helping of trail mix on top of what you already have!
10. Can I manage my REI Co-op Mastercard account online?
Yes, you can! It’s easier than using a compass. You can make payments, check your balance, and view your reward points all online.
11. Is the REI Co-op Mastercard good for people who don’t shop at REI often?
Well, if you’re more of a couch potato than a trailblazer, you might not reap the full benefits of this card. While it does offer 1% back on all purchases, there are other cards out there that might suit non-outdoor-enthusiasts better.
What kind of sporting goods can you buy with their card?
- Camping & Hiking: Tents, backpacks, sleeping bags, hiking boots, camping cookware, GPS units, and other camping essentials.
- Cycling: Bicycles (mountain, road, hybrid, etc.), cycling clothing, helmets, bike components, and accessories.
- Paddling: Kayaks, canoes, paddleboards, life jackets, paddles, and other gear related to water sports.
- Climbing: Climbing shoes, harnesses, carabiners, helmets, ropes, and other climbing equipment.
- Running: Running shoes, clothing, hydration packs, fitness trackers, and other running accessories.
- Fitness: Yoga mats, fitness clothing, resistance bands, weights, and other fitness equipment.
- Snow Sports: Skis, snowboards, snowshoes, winter clothing, goggles, helmets, and other winter sports gear.
- Travel: Luggage, travel clothing, travel accessories, books, maps, and more.
- Men’s, Women’s, and Kids’ Clothing and Footwear: Jackets, shirts, pants, shorts, shoes, boots, sandals, and more designed specifically for outdoor and recreational activities.
- Outdoor Electronics: GPS units, action cameras, drones, portable chargers, weather instruments, and more.