REI Mastercard Review

Card Details	The Offer	Is it Worth It?
Pros and Cons	Why 5 Stars?	Fees
Benefits

Card Details

Regular APR:	12.74 – 24.74 (Variable)
Intro APR (Purchases):	None
Intro APR (Balance transfers):	None
Rewards Rate:	5% back on purchases at REI 2% back on mobile wallet purchases 1% back everywhere else
Credit Needed:	(670 – 850) Good/Excellent
Annual Fee:	None
Card Brand:	Mastercard

*See online credit card application for details on the terms and conditions.

Offer Highlights

• Click APPLY NOW to apply online
• Apply for the REI Co-op World Elite Mastercard, and if approved, make a purchase within 60 days and you?ll earn a $100 REI gift card
• 5% back on purchases at REI
• 2% back on mobile wallet purchases
• 1% back everywhere else
• No annual fee
• Grow your REI Annual Dividend: The 5%, 2% and 1% earned with your card is on top of your typical 10% member dividend
• When you make a purchase with your REI Co-op World Elite Mastercard, we donate to projects that restore trails, habitat and more in the places we all love to explore
• Use your Annual Dividend for REI adventure travel and we?ll reduce the trip cost by 50% of the dividend amount you use

Is REI Mastercard worth it?

REI Mastercard is a solid card for REI members. A lifetime membership costs $20 and entitles you to a share of REI’s annual profits, in the form of a member dividend that is sized according to your expenditure at REI that year.

You can earn a dividend on most full-price items and other eligible REI merchandise purchases posted from Jan. 1 through Dec. 31. Purchases made with gift cards, discounted purchases, REI Adventures trips and certain other REI purchases don’t qualify.

However, it you use your annual dividend for REI adventure travel, REI will reduce your trip cost by 50% of the dividend amount you redeem for the trip. In other words, if the trip is $500, and you redeem $100 from your dividend, the trip would be $450. To qualify for the benefit, the trip payment must be made by calling at 800-622-2236 using your REI Co-op World Elite Mastercard. The main reason REI members might want to get this card is unselfish, because REI donates $0.10 per REI Co-op World Elite Mastercard purchase transaction made to the National Forest Foundation, up to $1 million. Even if that benefit is not interesting to you though, 5% back on purchases at REI might be. It’s also great that you can use REI Mastercard anywhere and get 2% back on mobile wallet purchases. Unfortunately, the rewards are distributed with your member dividend annually, so you can’t use them part way through the year. REI Mastercard is a great card for REI members, and for people making purchases at REI who aren’t members it might make more financial sense to pay $20 to become a member so you can get the dividend and this card.

Pros

• Cell Phone Coverage is for damage or theft up to $800, with a $50 deductible, up to $1,000 per 12-month period. Unfortunately, the policy provides secondary coverage only, but the protection applies to up to three cellphones, the primary line and up to the first two secondary lines on the covered phone bill
• This year, REI will donate $0.10 per REI Co-op World Elite Mastercard purchase transaction made to the National Forest Foundation, up to $1 million
• no foreign transaction fee
• No annual fee5X Rewards for every $1 spent on all eligible RCI purchases
• 2X Rewards for every $1 spent on all eligible travel purchases
• Travel purchases and redemptions are reasonably defined as Airlines, Hotels, Motels, Campgrounds, Car Rental Agencies, Cruise Lines, Travel Agencies, Discount Travel Sites, Trains, Buses, Taxis, Limousines, and Ferries
• You get a $250 Vacation Credit towards one RCI vacation when you spend $10,000 in net purchases each calendar year. You cannot combine vacation credits, but cardholders have a full 13 months from the date they receive their $250 vacation credit to use it.
• No foreign transaction fee
• No annual fee

Cons

• The rewards can’t be used part way through the year. The 5%, 2% and 1% rewards are distributed with your member dividend annually and can be used for REI purchases as soon as you receive it. Alternatively, from July 1 through Jan 3 of the following year you can ask in-store to get your dividend in cash, or you can request a check on REI’s website, by calling, or through the mail.

Why 5 Stars?

Regular APR

4 Stars

Intro APR

4 Stars

Fees

5 Stars

Perks

5 Stars

Overall

5 Stars

Fees

Foreign Transaction Fee	None
Balance Transfer Fee	Either 3% of the amount of each transfer or $5 minimum, whichever is greater
Cash Advance Fee	Either 4% of the amount of each advance or $5 minimum, whichever is greater
Penalty APR	None

Benefits

$0 Fraud Liability

Auto Rental Collision Damage Waiver

Concierge Service

Extended Warranty Program

Lost Luggage Reimbursement

Purchase Protection

Roadside Assistance

Travel Accident Insurance

Travel Assistance

World Luxury Hotels & Resorts

Editorial Note: This content is not provided by the issuer. Any opinion, analyses, reviews, or recommendations expressed on this page are those of the author?s alone, and may not have been reviewed, approved or otherwise endorsed by the issuer.

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