RCI® Elite Rewards® Mastercard® from Barclays Bank Delaware Review

Navigating the vast world of credit cards can be daunting, especially when trying to find one that aligns with your spending habits and travel goals. As an experienced financial expert, I’ve reviewed countless credit cards, but today, I’m diving deep into the RCI® Elite Rewards® Mastercard® from Barclays Bank Delaware. This card promises a plethora of rewards and benefits tailored for avid travelers and vacation enthusiasts, particularly those loyal to RCI. Let’s unpack its features, benefits, and potential pitfalls to help you decide if it’s the right card for you.

RCI® Elite Rewards® Mastercard® from Barclays Bank Delaware Key Takeaways

Before diving into the nitty-gritty details, here are the key takeaways for the RCI® Elite Rewards® Mastercard®:
– Rewards Structure: 5x Rewards for every $1 spent on all eligible RCI purchases, 2x Rewards for every $1 spent on all eligible travel purchases, and 1x Rewards for every $1 spent on all other purchases.
– Bonus Rewards: 2,500 Bonus Rewards after your first purchase, equivalent to $25 in RCI Member Rewards℠.
– Annual Fee: $0, which is a significant advantage for fee-conscious consumers.
– Intro APR: 0% Introductory APR for the first fifteen billing cycles on balance transfers made within 45 days of account opening.
– Variable APR: Standard purchase APR ranging from 20.99% to 29.99%.
– Additional Perks: No foreign transaction fees, purchase protection, and fraud protection.

RCI® Elite Rewards® Mastercard® from Barclays Bank Delaware Pros and Cons

Pros

1. No Annual Fee
– This is a standout feature, as many rewards cards come with hefty annual fees. The absence of an annual fee means you can focus on earning and redeeming rewards without worrying about an additional yearly cost.
2. Generous Rewards on RCI Purchases
– Earning 5x Rewards on RCI purchases is a fantastic perk for loyal RCI members. Whether it’s booking vacations or purchasing travel-related services, these rewards can add up quickly.
3. Intro APR Period on Balance Transfers
– The 0% Introductory APR for the first fifteen billing cycles on balance transfers is an excellent opportunity to consolidate debt without accruing interest, provided the transfers are made within 45 days of account opening.
4. No Foreign Transaction Fees
– For international travelers, the lack of foreign transaction fees is a significant benefit. It ensures that you can use your card abroad without incurring additional costs.
5. Bonus Rewards
– Receiving 2,500 Bonus Rewards after your first purchase is a nice welcome gift, equivalent to $25 in RCI Member Rewards℠.

Cons

1. No Intro APR Period on Purchases
– Unlike some other credit cards, there’s no introductory APR period on purchases. This means that new purchases will accrue interest immediately if you don’t pay your balance in full each month.
2. High Variable APR
– The variable APR ranges from 20.99% to 29.99%, which is relatively high. If you tend to carry a balance, the interest charges could negate the rewards earned.
3. Fees for Balance Transfers and Cash Advances
– While the intro APR on balance transfers is appealing, the fees associated with these transfers (either $5 or 3% of the amount, whichever is greater) can add up. Similarly, cash advances incur high fees (either $10 or 5% of the amount, whichever is greater).

RCI® Elite Rewards® Mastercard® from Barclays Bank Delaware Benefits

Rewards Program

The primary allure of the RCI® Elite Rewards® Mastercard® is its robust rewards program. Here’s a detailed look at how you can maximize your rewards:
1. 5x Rewards on RCI Purchases
– This is the highest earning rate offered by the card. If you frequently make purchases through RCI, such as booking vacations, timeshare payments, or other travel-related expenses, you’ll accumulate points quickly. For instance, spending $1,000 on RCI purchases would yield 5,000 points, which is a substantial return.
2. 2x Rewards on Travel Purchases
– Travel expenses, including flights, hotels, car rentals, and other travel-related services, earn double points. If you’re a frequent traveler, these points can add up over time, making this card a valuable tool in your travel arsenal.
3. 1x Rewards on All Other Purchases
– Everyday purchases earn 1 point per dollar spent. While this is a standard earning rate for many rewards cards, it ensures that every dollar you spend contributes to your rewards balance.

Bonus Rewards

New cardholders receive 2,500 Bonus Rewards after their first purchase. This bonus is equivalent to $25 in RCI Member Rewards℠, providing an immediate benefit just for activating and using the card.

Vacation Credit

An exclusive benefit for RCI® Elite Rewards® Mastercard® holders is the $250 vacation credit towards one RCI vacation when you spend $10,000 in net purchases each calendar year. This is a substantial perk for frequent travelers and can significantly offset the cost of an annual vacation.

No Annual Fee

One of the most appealing aspects of this card is the lack of an annual fee. Many rewards cards with similar benefits charge annual fees ranging from $95 to $450. The absence of this fee makes the RCI® Elite Rewards® Mastercard® more accessible and cost-effective.

Introductory APR on Balance Transfers

The 0% Introductory APR for the first fifteen billing cycles on balance transfers is a significant benefit for those looking to consolidate debt. It provides a substantial window to pay off transferred balances without accruing interest, provided the transfers are made within 45 days of account opening. However, it’s essential to factor in the balance transfer fee when considering this option.

No Foreign Transaction Fees

For international travelers, the absence of foreign transaction fees is a crucial benefit. Many credit cards charge fees ranging from 2% to 3% on purchases made outside the U.S., which can add up quickly. With the RCI® Elite Rewards® Mastercard®, you can use your card abroad without worrying about these additional costs.

Purchase Protection and Fraud Protection

The card offers purchase protection, which can cover eligible purchases against theft and damage for a specific period. Additionally, it includes fraud protection, ensuring that you’re not held liable for unauthorized transactions.

Credit Score Requirements

The card is designed for individuals with good to excellent credit, typically ranging from 670 to 799. If your credit score falls within this range, you’re more likely to be approved for the card and enjoy its benefits.

Conclusion

The RCI® Elite Rewards® Mastercard® from Barclays Bank Delaware is a compelling option for RCI members and frequent travelers. Its robust rewards program, featuring 5x Rewards on RCI purchases and 2x Rewards on travel expenses, makes it an attractive choice for those looking to maximize their travel-related spending. The lack of an annual fee, coupled with benefits like no foreign transaction fees and introductory APR on balance transfers, further enhances its appeal.
However, potential cardholders should be mindful of the high variable APR and the absence of an introductory APR period on purchases. If you tend to carry a balance, the interest charges could outweigh the rewards earned, making it essential to pay off your balance in full each month.
Overall, the RCI® Elite Rewards® Mastercard® offers a strong value proposition for loyal RCI members and travelers. Its combination of rewards, benefits, and cost-saving features makes it a worthy addition to your wallet. If you’re seeking a travel rewards card with no annual fee and substantial earning potential, the RCI® Elite Rewards® Mastercard® is worth considering.