Smith’s Rewards World Elite Mastercard® Credit Card Review

Navigating the credit card landscape can be a daunting task. With so many options available, it’s essential to find a card that aligns with your spending habits, rewards preferences, and financial goals. Today, we’ll delve into a comprehensive review of the Smith’s Rewards World Elite Mastercard®, a card that offers a unique blend of cashback rewards, fuel savings, and no annual fee. As a financial expert, I will provide you with an in-depth analysis of this card, highlighting its key features, benefits, pros and cons, and ultimately helping you determine if it’s the right fit for your wallet.

Smith’s Rewards World Elite Mastercard® Review

The Smith’s Rewards World Elite Mastercard® is designed with the everyday consumer in mind, particularly those who frequently shop at Kroger-owned stores and use mobile wallets for payments. With a generous 5% cashback on mobile wallet purchases for the first $3,000 spent annually, this card stands out in the crowded cashback credit card market. Additionally, it offers 2% cashback at Kroger-owned stores and 1% on all other purchases, making it a versatile option for a variety of spending categories.
One of the standout features of this card is the fuel savings program. Cardholders can save an additional 55¢ per gallon of fuel each time they redeem at least 100 fuel points at Kroger Fuel Centers for the first year. This can lead to significant savings for those who frequently fill up their gas tanks.

Smith’s Rewards World Elite Mastercard® Key Takeaways

– 5% Cashback on mobile wallet purchases for the first $3,000 spent annually, then 1% thereafter.
– 2% Cashback at Kroger-owned stores.
– 1% Cashback on all other purchases.
– Fuel Savings of an additional 55¢ per gallon when redeeming 100 fuel points at Kroger Fuel Centers for the first year.
– No Annual Fee, making it a cost-effective option for budget-conscious consumers.
– Variable APR ranging from 19.24% to 29.99%, depending on creditworthiness.
– No Intro APR Period for purchases or balance transfers.
– Good Credit Required (670-739).

Smith’s Rewards World Elite Mastercard® Pros and Cons

Pros:

1. No Annual Fee: This card comes with no annual fee, making it accessible to a wide range of consumers.
2. High Cashback Rate on Mobile Wallet Purchases: Earn 5% cashback on mobile wallet purchases for the first $3,000 spent annually, a significant reward rate for tech-savvy consumers.
3. Fuel Savings: Save an additional 55¢ per gallon of fuel when redeeming 100 fuel points at Kroger Fuel Centers for the first year.
4. No Foreign Transaction Fees: Ideal for travelers, this card does not charge foreign transaction fees.
5. Flexible Rewards: Cashback rewards can be used for a variety of purposes, giving cardholders flexibility in how they redeem their rewards.

Cons:

1. No Intro APR Period: The card does not offer an introductory APR period for purchases or balance transfers, which may be a drawback for those looking to transfer balances or finance large purchases.
2. High Variable APR: With an APR range of 19.24% to 29.99%, this card carries a relatively high-interest rate, which could be costly for those who carry a balance.
3. Limited High Cashback Categories: The 5% cashback rate is limited to mobile wallet purchases, which may not align with everyone’s spending habits.
4. Good Credit Required: Applicants need a good credit score (670-739) to qualify, potentially excluding some consumers.

Smith’s Rewards World Elite Mastercard® Benefits

Cashback Rewards

The primary benefit of the Smith’s Rewards World Elite Mastercard® is its robust cashback rewards program. Here’s a closer look at how the cashback structure works:
– 5% Cashback on Mobile Wallet Purchases: For the first $3,000 spent annually using mobile wallets like Apple Pay, Google Pay, or Samsung Pay, cardholders earn 5% cashback. After reaching the $3,000 threshold, the cashback rate drops to 1%.
– 2% Cashback at Kroger-Owned Stores: Cardholders earn 2% cashback on purchases made at Kroger-owned stores, which include a wide range of grocery and retail outlets.
– 1% Cashback on All Other Purchases: All other purchases earn a standard 1% cashback, ensuring that cardholders earn rewards on every transaction.

Fuel Savings

One of the unique features of this card is the fuel savings program. For the first year, cardholders can save an additional 55¢ per gallon of fuel each time they redeem at least 100 fuel points at Kroger Fuel Centers. This can lead to substantial savings, especially for those who drive frequently or have long commutes.

No Annual Fee

The Smith’s Rewards World Elite Mastercard® comes with no annual fee, making it a cost-effective option for those looking to maximize their rewards without incurring additional costs.

No Foreign Transaction Fees

For frequent travelers, the absence of foreign transaction fees is a significant benefit. Cardholders can use their Smith’s Rewards World Elite Mastercard® abroad without worrying about extra charges for foreign transactions.

Payment Flexibility

The card offers flexible payment options, allowing cardholders to manage their finances more effectively. With a due date 24-30 days after the close of each billing cycle, there is ample time to pay off the balance and avoid interest charges.

Good Credit Requirements

The Smith’s Rewards World Elite Mastercard® is designed for consumers with good credit (670-739). This ensures that cardholders have access to competitive rates and benefits.

Conclusion

The Smith’s Rewards World Elite Mastercard® is a solid choice for consumers who frequently shop at Kroger-owned stores and use mobile wallets for their purchases. With a generous 5% cashback on mobile wallet transactions for the first $3,000 spent annually, 2% cashback at Kroger-owned stores, and 1% on all other purchases, this card offers substantial rewards for everyday spending.
The additional fuel savings program, which offers 55¢ off per gallon when redeeming 100 fuel points at Kroger Fuel Centers for the first year, is a standout feature that can lead to significant savings at the pump.
However, the card does have some drawbacks, including the lack of an introductory APR period and a relatively high variable APR range of 19.24% to 29.99%. Additionally, the requirement for a good credit score may exclude some applicants.
Overall, the Smith’s Rewards World Elite Mastercard® is best suited for consumers who can take full advantage of its cashback and fuel savings programs while avoiding carrying a balance to mitigate the high-interest rates. If you fit this profile, this card can be a valuable addition to your wallet, offering substantial rewards and savings on everyday purchases.