Jasper Cash Back Mastercard® review

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Holly D. Johnson Twitter logo @ClubThrifty  in  Fair Credit How we rate our cards  | 

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Jasper Image

Recommended Credit Score

Fair to Good (580 - 740)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Annual Fee:
$0
Purchase Intro APR:
N/A
Regular APR:
15.49% - 24.99% (Variable)
Terms and Restrictions Apply | Rates and Fees

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Best credit card for new professionals

  • Rewards Rate: Get up to 6 percent cash back by referring friends! Start with 1% and get an extra 1% 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 – 24.99 percent variable APR

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.

Jasper Cash Back Mastercard®: Earning rewards

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% and get an extra 1% 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.

Jasper Cash Back Mastercard®: Benefits

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 comes with 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.

Cellphone protection

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 payments or returned payments.

How the Jasper Cash Back Mastercard® compares to other credit cards for building credit

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.

As you can see, the Discover it® Secured Credit Card and the Petal® 2 “Cash Back, No Fees” Visa® Credit Card are options if you don’t have a credit history. Neither one of them 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.

The Petal® 2 “Cash Back, No Fees” Visa® Credit Card is 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).

The Jasper Mastercard stands out due the great cash back rewards: Get up to 6 percent cash back by referring friends –Start with 1% and get an extra 1% 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.

 

Discover it® Secured Credit Card Petal® 2 “Cash Back, No Fees” Visa® Credit Card Jasper Cash Back Mastercard®
Annual fee $0 $0 $0*
Rewards Earn 2% back on up to $1,000 in combined spend on restaurant and gas station purchases each quarter (then 1%) as well as 1 percent back on other purchases Earn 1% to 1.5% back on all purchases Get up to 6% cash back by referring friends. Start with 1% and get an extra 1% for a full year for every friend you bring on board***.
Security deposit required? Yes No No
Credit history required? No No Yes
Social Security number required? Yes Yes Yes

 

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 provides you with 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 that 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.

Pros:

  • No annual fee*, foreign transaction fees
  • Gain access to valuable consumer protections and benefits

Cons:

  • No option for balance transfers

 

* Review the Jasper fee schedule

*** Your cash back rate will be increased by 1% for 12 months for each referred applicant that activates their card, up to a limit of 6% total cash back. To earn 6% 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.