Nibbles Mastercard review: A pet owner’s dream card

We calculated this card's ongoing value based on the U.S. Bureau of Labor Statistics' (BLS) latest Consumer Expenditures Report which cites a $22,500 annual spend and our ratings methodology. Perks such as the pet insurance and Booking.com discount were not factored in since the monetary value will vary depending on how it is used.

The value of this card is high, but this card's biggest draw is its pet insurance which can add even more value for pet owners.

If you are shopping for pet insurance, the Nibbles Card might actually be worth a look. It doesn’t have the most extensive coverage, but it’s an affordable alternative to traditional coverage.

Pet insurance: Up to $10,000 worth of yearly coverage

Accessing a limit of $10,000 for a no-annual-fee card is fairly generous for what comparable pet insurance would cost per year. In the best case scenario, you’ll never need to use this entire benefit. But it’s a wonderful perk to have and perhaps the only reason to apply for this card in the first place. Nibbles will also automatically file claims for you when you use the card, which is remarkably convenient and will make the card appeal to you if you don't like the hassle of filing insurance claims and tracking receipts.

You’ll receive an 80 percent coinsurance and $500 deductible along with a $10,000 annual maximum. It doesn’t cover basic expenses like vet exam fees, pre-existing conditions, preventative care or medication. However, you have the option to customize your coverage for an extra fee, which will vary depending on what you add.

Here are some optional add-ons to your coverage:

• Prescription RX

• Wellness plan

• Vet visits and exams

• Physical therapy

You can also choose a lower deductible, a higher annual limit and a higher coinsurance option. If you’re still not convinced, Nibbles will also process your insurance claims automatically when you pay for services with your card. This is one of the card’s more appealing features because it takes the extra work out of processing costly insurance claims.

According to Natasha Cornelius, an editor on Bankrate’s insurance team who covers pet insurance, the cost of pet insurance averages $56 per month for a dog and $32 for a cat. Annually, this is $672 and $384, respectively. If traditional coverage is out of reach for you, then a card like the Nibbles Card might be a great, affordable way to access some form of pet insurance. While it might not be the extensive coverage you’re hoping for, you could customize it and still come away with coverage that’s more affordable than the current average.

Perks: Travel and entertainment discounts

This card’s most notable perks include Mastercard benefits like a 7 percent discount on prepaid stays booked using Booking.com and a $3 monthly credit for Peacock Premium.

The Peacock credit amounts to $36 annually, while the Booking.com discount will vary based on how much you spend on prepaid stays. However, a 7 percent discount on travel expenses like hotel stays could add up quickly and help offset this card’s annual cost after the first year, especially if you need to pay extra to bring along your furry companion.

For instance, if you spend a total of $2,000 on prepaid stays using Booking.com and pay using your Nibbles Card, you’ll save 7 percent. This totals to about $140, which gets you more than halfway to offsetting the card’s annual fee. Combined with the Peacock Premium credit, both perks get you closer to the card’s annual cost. Plus, you still have your pet insurance coverage to take advantage of and any rewards you earn from your pet spending.

You’ll want a different rewards card if you’re hoping that this card’s boosted rewards for pet purchases will bring substantial value to your wallet. If you aren’t excited about the insurance coverage this card offers, you’ll struggle to find anything else to like about it.

Rewards: Only one boosted category

Even for a no-annual-fee card, you should expect more everyday bonus categories. This card’s boosted rewards rate for pet-related purchases is great, but this spending category typically isn't a substantial part of the average household’s budget where staples like groceries, dining and travel might earn more rewards. According to the latest BLS report, consumers spent $1,057 on pets, toys, hobbies, and playground equipment combined in 2023, which would come out to only about $32 in yearly rewards assuming all that spending was on pets alone.

If the coverage doesn’t matter to you, and you like the idea of earning boosted rewards for pet purchases, you might want to consider a flat-rate cash back or rewards card instead.

You can earn 2 percent cash rewards back with either the Wells Fargo Active Cash® Card or the Citi Double Cash® Card. While 2 percent back isn’t as lucrative as 3X points (redeemable for a statement credit valued at $0.01 per point), you might walk away with more cash back at the end of the year since you'll earn bonus rates for more than just pet-related purchaes.

However, if your pet expenses run exceptionally high every year, then this card might be a better option than the best flat-rate card. For instance, spending $25,000 each year on pet expenses will earn you a total of 75,000 points or $750 in rewards — the same amount of cash back that a no-annual-fee 2 percent card will earn.

Insurance: Coverage restrictions might disqualify your pet

The insurance on this card can be restrictive because it excludes pre-existing conditions, medications, issues that occur during a waiting period and several other caveats. These three limits alone would mean that older dogs with medical histories or current medications might not be eligible for coverage. If your pet is currently taking medication or has pre-existing conditions, you should consider other pet insurance options and choose a different credit card.

Check out the full list of what is not covered with the Nibbles Card basic insurance benefit: 

• Pre-existing conditions

• Training/obedience class

• Boarding

• Breeding, pregnancy or birth expenses

• Biohazard fees

• Preventative care

• Issues that occur during a waiting period

• Vet exam fees

• Prescription food

• Cosmetic or elective procedures

While you can customize your insurance to include some of these restrictions (like prescription medications), it'll cost you, and it still might not cover pre-existing conditions and medications.

Fees: High APR

While this card is low on fees, you could potentially face significant interest charges if you don't pay your balance in full. With a relatively high APR, you will accrue interest charges much quicker than cards with lower rates. Its APR is very concerning because this is a product that might be used to pay for pet care to earn rewards, which can be very expensive. If you charge a $5,000 procedure to this card that isn’t entirely covered by its insurance benefit, you might find yourself in high-interest debt until you can pay off your balance. 

If you’re committed to getting this card for its insurance benefit, you’ll also benefit from its boosted rewards rate for pet-related purchases. However, you’ll be missing out on rewards in several other purchase categories. To help you broaden your rewards earnings while keeping card costs low, you might consider no-annual-fee cash back or rewards cards to help pick up the slack elsewhere.

The Nibbles Card is a dark horse in the credit card world, but it has its place in the heart of pet owners looking for inventive ways to fund their pets' lifestyle and care. As a rewards card, it’s fairly lackluster. Here’s how it compares to some better options.

The Nibbles Card is only worth considering if you are a pet owner or take care of pets on a daily basis. But determining if the Nibbles Card is right for you depends on whether or not you think pet insurance is worth it. If the answer is yes, then the Nibbles Card can be a great way to access affordable coverage. However, it’s not the best choice as a rewards card.

If you’re shopping for pet insurance it’s worth a look, especially if you aren’t worried about what’s not covered and want to customize your coverage. However, you’ll want to calculate how much you spend annually on your pet(s) and the total cost if you decide to customize your insuarance. This can give you an idea of how much you can earn in rewards and benefit from the card.

You won’t find a one-to-one comparison for the Nibbles Card, so choosing an alternative will be tricky. You may have to reconsider how you think about your card decision and what you expect out of it. If the rewards play a bigger role, then there are certainly better credit cards to choose from.

Prime Visa

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For better credit card rewards and perks

We rate credit cards using a proprietary card scoring system that ranks each card’s estimated average rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more against those of other cards in its primary category. 

Each card feature is assigned a weighting based on how important it is to people looking for a card in a given category. These features are then scored based on how they rank relative to the features on other cards in the category. Based on these calculations, each card receives an overall rating of 1-5 stars (with 5 being the highest possible score and 1 being the lowest). 

We analyzed over 150 of the most popular rewards and cash back cards to determine where each stacked up based on their value, cost, benefits and more. Here are some of the key factors that influenced this card’s overall score and how the score influenced our review: