Jasper Cash Back Mastercard® review
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Jasper Cash Back Mastercard overview
Jasper Cash Back Mastercard® (Issued by WebBank, Member FDIC) is a cash back credit card available to consumers with fair to good credit. This combination of factors makes this card uniquely tailored to working professionals.
Jasper Mastercard reports your credit payments and movements to Equifax, Experian and TransUnion, giving you the opportunity to continue your credit journey.
What are the pros and cons?
- No option for balance transfers
A deeper look into the current card offer
- Rewards Rate: Get up to 6 percent cash back by referring friends! Start with 1 percent and get an extra 1 percent for a full year for every friend you bring on board
- Welcome Offer: None
- Annual Fee: $0*
- Purchase Intro APR: N/A
- Balance Transfer Intro APR: N/A
- Regular APR: 15.49 percent to 24.99 percent variable APR
With the Jasper Mastercard, you can earn up to 6 percent cash back by referring friends. You are guaranteed a minimum of 1 percent cash back on almost all everyday purchases as long as your account is in good standing. You can boost your cash back rate: Start with 1 percent and get an extra 1 percent for a full year for every friend you bring on board. Cash back is applied automatically to your account every month as a statement credit after three on-time payments, and your cash back maximum will vary based on your credit limit***. Review the Jasper Rewards program terms here.
Receive your cash back automatically every month as a credit to your account, as long as your account is active and in good standing.
Other cardholder perks
Jasper Mastercard was designed to aid working professionals. Your credit movements will still be reported to the three credit bureaus: Equifax, TransUnion, and Experian.
The Jasper Card also comes with a surprising number of major benefits you can look forward to when you apply:
Mobile app included
The Jasper Mastercard has a mobile app that can help you track your spending, manage your account using your favorite device. If your credit card is ever lost or stolen, the Jasper app lets you report it with a single click.
Extended warranties on eligible items
Eligible purchases that come with a manufacturer’s warranty of 12 months or less are eligible for a doubled extended warranty for a total of up to 24 months. The maximum benefit for repair or replacement can be for the amount charged to your card or up to $10,000, whichever is less.
Qualify for cellphone protection insurance when you pay your cellphone bill with your Jasper Mastercard. This coverage is good for up to $600 per year.
Auto rental coverage
Qualify for protection against physical damage or theft of your rental car when you use your Jasper Mastercard to pay for the entire rental car agreement. This coverage is good even if you deny the rental car insurance offered by the rental car provider.
Lost or damaged luggage insurance
Receive reimbursement when your checked or carry-on luggage is lost or damaged. The entire trip must have been paid for with your Jasper Mastercard in order to be eligible.
Travel accident insurance with baggage delay
Receive travel accident insurance good for accidental death or dismemberment. Also, qualify for baggage delay insurance that will reimburse you for incidental expenses when your baggage is delayed by four or more hours on a covered trip.
Trip cancellation and interruption insurance
As a cardholder, you can receive reimbursement for non-refundable and unused fares on common carriers (airline, cruise ship, bus, etc.) when you cannot travel for a covered reason.
Rates and fees
The Jasper Mastercard doesn’t charge an annual fee*, nor does it charge foreign transaction fees when you use your credit card to make purchases overseas. You will pay a 5 percent (minimum $10) cash advance fee when you take out a cash advance against your line of credit. You can also face a fee of up to $27 for late or returned payments.
How the Jasper Cash Back Mastercard® compares to other credit cards for building credit
The Jasper Mastercard stands out due to its great cash back rewards. Get up to 6 percent cash back by referring friends — start with 1 percent and get an extra 1 percent back for a full year for every friend you bring on board. Receive cash back automatically every month as a statement credit after three on-time payments. Earn cash back as long as your account is in good standing. If your account is past due, cash back will be locked and your cash back maximum varies based on your credit limit***. See Jasper’s terms and fees.
But the Jasper Mastercard isn’t the only credit card on the market that can help you on your credit journey. To provide more details and options in this Jasper review, we compared a few comparable cards to see how they stack up.
Jasper Cash Back Mastercard vs. Discover it Secured Card
The Discover it® Secured Credit Card is a great option if you don’t have a credit history, as it doesn’t charge an annual fee, and you can even earn rewards for each dollar you spend.
However, the Discover it® Secured Credit Card is a secured credit card, meaning you have to put down a cash deposit to get started. You’ll typically only start out with a line of credit in the same amount of your deposit as well, which could be as low as $200.
Jasper Cash Back Mastercard vs. Petal 2 “Cash Back, No Fees” Visa Card
The Petal® 2 “Cash Back, No Fees” Visa® Credit Card is also a good option for consumers who want to build credit. This card is unsecured, meaning you do not have to put down a cash deposit to get started, however, you will have to provide a Social Security number to apply (which can make this card a non-starter if you’re new to the United States and you don’t have one).
Bankrate’s Take: Is the Jasper Cash Back Mastercard® worth it?
The Jasper Mastercard is a no-brainer for busy professionals or college graduates. Applying for this card gives you the chance to continue your credit journey.
With responsible credit use that is reported to the three credit bureaus (Equifax, TransUnion, and Experian), cardholders get the chance to improve their credit — which can last a lifetime. Once you build your credit score until it’s considered excellent, you could even apply for the best credit cards available on the market today.
* Review the Jasper fee schedule
*** Your cash back rate will be increased by 1 percent for 12 months for each referred applicant that activates their card, up to a limit of 6 percent total cash back. To earn 6 percent cash back, you must successfully refer 5 new cardholders within the same 12-month period. To become eligible to redeem cash back, you must first make three on-time payments. The purchases on which you can earn cash back are limited each billing cycle to an amount equal to your credit limit. Review the Rewards Terms and Conditions.