The Elite Rewards® World MasterCard® Credit Card is one of the better reward credit cards available on the market for individuals with good credit. The card offers an attractive rewards program as well as a reasonable APR depending upon the applicant’s credit history. These reward points can be spent on hotel stays, car rental, gift certificates, and airline tickets with the cardholder’s choice of over 125 airlines in the U.S.
(Review Date: January 14, 2014)
With the Elite Rewards® World MasterCard Credit Card, cardholders receive one point for every dollar that is spent toward general purchases. They also earn double points for every dollar spent at specific partner merchants. After making the first purchase with the card, cardholders also receive 500 bonus points.
It should be noted that cardholders can only earn up to 90,000 points with the Elite Rewards® World MasterCard® Credit Card. Furthermore, they can only earn 7,500 points per billing cycle. There is also a limit on when the points can be spent, as they do expire after four years.
The Elite Rewards® World MasterCard® Credit Card does not have an annual fee. In addition, it does offer a 0% introductory rate for cash advances and balance transfers that is good for the first twelve billing cycles of the card. For those with better credit, this rewards credit card also offers an attractive fixed APR of 9.9%. Those that don’t qualify for this lower rate will pay 15.99% instead.
Aside from its rewards program, the Elite Rewards® World MasterCard® Credit Card does not offer any extraordinary benefits. There is, however, a $5,000 minimum credit limit with the card and no maximum cap.
The other characteristics of the Elite Rewards® World MasterCard® Credit Card are much like most reward credit cards. For example, cardholders will have to pay $15 if they are late on making a payment toward a balance of less than $100. Those that make a late payment on balances over $100 but less than $250, on the other hand, will be assessed a $29 fee while those late making payments on balances over $250 will have to pay $39. Cardholders that go over their credit limit, however, will not have to pay any type of penalty fee.
Other fees associated with the Elite Rewards® World MasterCard® Credit Card that are similar to other reward credit cards are the cash advance and balance transfer fees. Both of these fees are equivalent to 3% of the total transaction with a $10 payment minimum.
Those interested in rewards credit cards with low interest rates may want to consider applying for the Elite Rewards® World MasterCard® Credit Card if they have very good credit and will qualify for the lower 9.99% interest rate, which will allow them to earn rewards while paying less in finance charges if they must carry a balance.