Pick ‘n Save Rewards World Elite Mastercard® Review

In the world of credit cards, picking the right one can often seem like finding a needle in a haystack. With countless options offering a plethora of rewards, benefits, and fee structures, it can be overwhelming to make a decision. Enter the Pick ‘n Save Rewards World Elite Mastercard®, a card designed to offer significant cashback rewards, especially for those who frequently use mobile wallets, dine out, fuel up, and shop at Kroger-owned stores. In this detailed review, we will explore every facet of this credit card to help you understand whether it’s the right fit for your financial lifestyle.

Pick ‘n Save Rewards World Elite Mastercard® Key Takeaways

Before diving into the nitty-gritty details, here are some key takeaways about the Pick ‘n Save Rewards World Elite Mastercard®:
– 5% Cash Back on mobile wallet purchases for the first $3,000 spent each year, then 1% thereafter.
– 3% Cash Back on dining and fuel purchases for the first $6,000 spent each year, then 1% thereafter.
– 2% Cash Back at Kroger-owned stores including Pick ‘n Save, Metro Market, and Copps.
– 1% Cash Back on all other purchases.
– A $100 Statement Credit when you apply, get approved, and spend $500 on eligible purchases within the first 90 days.
– No Annual Fee and No Foreign Transaction Fees.
– Variable APR ranging from 19.24% to 29.99%.

Pick ‘n Save Rewards World Elite Mastercard® Pros and Cons

Pros

No Annual Fee

One of the most appealing aspects of this credit card is the absence of an annual fee. This feature is particularly beneficial for those who want to maximize their cashback rewards without the burden of an additional yearly cost.

High Cashback Rates

The Pick ‘n Save Rewards World Elite Mastercard® offers impressive cashback rewards:
– 5% on mobile wallet purchases is a standout feature, especially as mobile payments become increasingly popular.
– 3% on dining and fuel is competitive, especially for frequent travelers and diners.
– 2% at Kroger-owned stores makes this card a no-brainer for loyal Kroger shoppers.

No Foreign Transaction Fees

Travelers will appreciate that this card does not charge foreign transaction fees, making it an excellent choice for international trips.

$100 Statement Credit

A $100 statement credit for meeting the initial spending requirement is a nice bonus that can offset other expenses.

Cons

No Intro APR Period

The absence of an introductory APR period for purchases or balance transfers may be a drawback for those looking to finance large purchases or consolidate higher-interest debt.

Tiered Cashback Limits

The higher cashback rates are subject to annual spending caps. Once you hit those caps, the cashback rate drops to 1%, which may limit the card’s value for big spenders.

High Variable APR

With an APR range from 19.24% to 29.99%, carrying a balance on this card can be expensive. This card is best suited for those who can pay off their balance in full each month.

Pick ‘n Save Rewards World Elite Mastercard® Benefits

Cashback Rewards Program

The cashback program is the star of the show for this credit card. Let’s break down each category:

5% Cash Back on Mobile Wallet Purchases

In a world that is increasingly going cashless, the 5% cashback on mobile wallet purchases up to $3,000 per year is a standout feature. Whether you use Apple Pay, Google Wallet, or another mobile payment service, this card rewards you handsomely for staying up-to-date with technology. After reaching the $3,000 cap, the cashback rate drops to 1%.

3% Cash Back on Dining and Fuel

Dining out and fueling up can quickly add up, and earning 3% cash back on these expenses is a fantastic way to soften the blow. This rate applies to the first $6,000 spent in these categories each year, after which the cashback rate decreases to 1%.

2% Cash Back at Kroger-Owned Stores

For those who do their grocery shopping at Kroger-owned stores, including Pick ‘n Save, Metro Market, and Copps, this card provides a solid 2% cashback rate on all such purchases. This feature can lead to significant savings over the course of a year.

1% Cash Back on Other Purchases

While the higher-tiered categories offer more lucrative rewards, the 1% cashback on all other purchases ensures that you’re still earning something back on every dollar you spend.

Statement Credit Offer

Receiving a $100 statement credit for spending $500 within the first 90 days is an excellent incentive for new cardholders. This bonus effectively gives you a 20% return on your initial spending, making it easier to justify any initial expenses you might have.

No Fees

No Annual Fee

The absence of an annual fee is a significant benefit, as it allows cardholders to enjoy the rewards without worrying about an additional yearly cost cutting into their savings.

No Foreign Transaction Fees

For those who travel internationally, the lack of foreign transaction fees is a considerable advantage. Many credit cards charge 2-3% on purchases made outside the United States, which can add up quickly during trips abroad.

Rate and Fee Information

Variable APR

The APR for the Pick ‘n Save Rewards World Elite Mastercard® ranges from 19.24% to 29.99% based on your creditworthiness. While this is on the higher end, it’s standard for a rewards card. However, carrying a balance on this card can be costly, so it’s best to pay off your statement in full each month to avoid interest charges.

Fees for Balance Transfers and Cash Advances

– Balance Transfers: Either 4% of the amount of each transfer or $10 minimum, whichever is greater.
– Cash Advances: Either 5% of the amount of each advance or $10 minimum, whichever is greater.
These fees are relatively standard but can add up, so it’s advisable to use these features sparingly.

Late Payment and Return Payment Fees

– Late Payment Fee: Up to $41
– Return Payment Fee: Up to $41
Both of these fees are in line with industry standards, but they can be avoided by ensuring timely payments.

How to Avoid Paying Interest

The card offers a grace period of 24-30 days, meaning you have this period after the close of each billing cycle to pay off your balance in full without incurring interest. If you manage your payments well, you can effectively use this card without paying any interest.

Pick ‘n Save Rewards World Elite Mastercard® Customer Experience

Credit Score Requirements

To qualify for the Pick ‘n Save Rewards World Elite Mastercard®, you’ll need a credit score in the range of Good to Excellent (670-799). This requirement is fairly standard for a card offering such robust rewards.

Application Process

The application process for this card is straightforward. You can apply online through the US Bank website, and decisions are typically made within a few minutes. Upon approval, you’ll receive your card within 7-10 business days.

Customer Service

US Bank, the issuer of the Pick ‘n Save Rewards World Elite Mastercard®, is known for its reliable customer service. You can manage your account and pay your bill online through the US Bank website or mobile app. Customer service is also available by phone for any issues or inquiries.

Managing Your Account

US Bank provides a user-friendly online portal and mobile app that allow you to monitor your spending, pay your bill, and track your rewards. These tools make it easy to stay on top of your finances and maximize your cashback earnings.

Conclusion

The Pick ‘n Save Rewards World Elite Mastercard® is an excellent choice for individuals who frequently use mobile wallets, dine out, fuel up, and shop at Kroger-owned stores. With generous cashback rewards, no annual fee, and no foreign transaction fees, this card offers significant value.
However, it’s important to be mindful of the spending caps on the higher cashback tiers and the relatively high variable APR. This card is best suited for those who can pay off their balance in full each month to avoid interest charges.
If you fit this profile and meet the credit score requirements, the Pick ‘n Save Rewards World Elite Mastercard® could be a valuable addition to your wallet, helping you maximize your everyday spending and earn substantial cashback rewards.
Overall, the Pick ‘n Save Rewards World Elite Mastercard® stands out in a crowded field of cashback credit cards, offering a unique combination of rewards and benefits that cater to a wide range of spending habits. Whether you’re tech-savvy, a frequent traveler, or a loyal Kroger shopper, this card has something to offer.