M&T Bank Visa® Signature Credit Card Review

When it comes to choosing a credit card, many consumers look for a combination of rewards, low fees, and exceptional benefits. The M&T Bank Visa® Signature Credit Card is a compelling option that aims to satisfy all these needs. This card offers a straightforward 1.5% cash back on every purchase, a generous introductory APR period, and no annual fee, making it an attractive choice for both novice and seasoned credit card users. In this detailed review, we will explore all the features, benefits, and potential drawbacks of this credit card to help you make an informed decision.

M&T Bank Visa® Signature Credit Card Key Takeaways

Understanding the key features of a credit card can help you quickly determine if it’s the right fit for you. Here are the main highlights of the M&T Bank Visa® Signature Credit Card:
Cash Back Rewards: Earn 1.5% cash back on every purchase without any caps or categories to worry about.
Sign-Up Bonus: Earn 10,000 bonus points, equal to $100 cash or statement credit when you spend $500 in the first 90 days.
Introductory APR: Enjoy a 0% Introductory APR for the first 12 billing cycles from account opening on purchases and balance transfers.
Ongoing APR: The variable APR ranges from 11.49% to 18.49% based on your creditworthiness.
No Annual Fee: You won’t pay any annual fee to enjoy the benefits of this card.
Additional Perks: 24/7 travel emergency assistance, no foreign transaction fees, and purchase protection.

M&T Bank Visa® Signature Credit Card Pros and Cons

Pros

No Annual Fee

One of the standout features of this credit card is the absence of an annual fee. This means that you can enjoy all the benefits and rewards without having to worry about an annual cost eating into your earnings.

Introductory APR Period

The 0% introductory APR for the first 12 billing cycles on both purchases and balance transfers is a significant advantage. This feature can be particularly useful if you are planning to make a large purchase or transfer a high-interest balance from another card.

No Foreign Transaction Fees

For frequent travelers, the lack of foreign transaction fees is a considerable benefit. You can use your card internationally without incurring extra costs, making it a great companion for overseas trips.

Generous Sign-Up Bonus

The card offers a sign-up bonus of 10,000 points, which is equivalent to $100. This bonus can be earned by spending just $500 within the first 90 days of account opening, making it relatively easy to achieve.

Cons

Extra Fees

While the card offers many benefits, there are some fees to be aware of. For example, after the initial 60-day period, balance transfers are subject to a fee of 4% of the amount transferred, with a minimum of $10. Similarly, cash advances incur a fee of 3% of the transaction amount, with a minimum of $10.

Limited Bonus Categories

Unlike some other credit cards that offer higher cash back rates in specific categories like dining or gas, this card offers a flat 1.5% cash back on all purchases. While this can be simpler, it might not be as rewarding for those who spend heavily in certain categories.

M&T Bank Visa® Signature Credit Card Benefits

Cash Back Rewards

The primary benefit of this card is its straightforward cash back rewards program. You earn 1.5% cash back on every purchase, without the need to track spending categories or worry about caps. This makes it an excellent choice for those who prefer simplicity and consistency in their rewards.

Sign-Up Bonus

New cardholders can earn a sign-up bonus of 10,000 points, which is equivalent to $100 in cash or statement credit. To qualify for this bonus, you need to spend at least $500 within the first 90 days of account opening. This requirement is relatively low compared to other cards, making it accessible for most users.

Introductory APR

The card offers a 0% introductory APR on purchases and balance transfers for the first 12 billing cycles. This can be a significant advantage if you plan to make a large purchase or transfer a balance from a higher-interest card. After the introductory period, the APR ranges from 11.49% to 18.49%, depending on your creditworthiness.

No Annual Fee

One of the most attractive features of this card is the lack of an annual fee. This means that you can enjoy all the benefits and rewards without any cost, making it a cost-effective option for most consumers.

Travel Benefits

The card offers 24/7 travel emergency assistance, which can be invaluable when you’re traveling. Whether you need help with lost luggage, medical emergencies, or travel arrangements, this service provides peace of mind. Additionally, the lack of foreign transaction fees makes it an excellent choice for international travelers.

Purchase Protection

The card also offers purchase protection, which can cover eligible items against damage or theft for a certain period after purchase. This can add an extra layer of security and peace of mind, especially for high-value items.

Manage Your Account & Pay Your Bill

M&T Bank provides several convenient ways to manage your account and pay your bill. You can do so online through their website, or by calling customer service. This flexibility ensures that you can manage your account in the way that best suits your needs.

Conclusion

The M&T Bank Visa® Signature Credit Card is a versatile and rewarding option for a wide range of consumers. With its straightforward cash back rewards, generous sign-up bonus, and numerous benefits, it offers substantial value without the burden of an annual fee. The introductory 0% APR period on purchases and balance transfers makes it an excellent choice for those planning significant expenditures or looking to manage existing debt.
However, it’s essential to be aware of the fees associated with balance transfers and cash advances, as these can add up. Additionally, while the flat 1.5% cash back rate is simple and straightforward, it may not be as rewarding for those who spend heavily in specific categories.
Overall, the M&T Bank Visa® Signature Credit Card is a well-rounded option that offers a compelling mix of rewards, benefits, and low fees. Whether you’re looking for a primary card for everyday spending or a secondary card for travel, this card is worth considering.