If you’re an AARP member, listen up. Chase has teamed up with the organization to offer a great credit card deal to members over 50.
First and foremost, the new “AARP Signature Visa Card from Chase” comes with a $100 cash back opening bonus when you spend $500 within the first three months of account opening.
This is a similar opening bonus to the one offered with the Chase Freedom card.
But what really separates the AARP credit card from the pack is the year-round cash back categories.
3% Cash Back on Gas and Eating Out
Instead of dealing with categories that rotate each quarter, the AARP Visa Card offers 3% cash back at gas stations AND at restaurants all year long.
And we all know retired folks like to go out to eat a lot…and probably drive to wherever it is they’re going.
Additionally, there are no limits on how much cash back you can earn, unlike other cards that limit the amount of cash back (e.g. Blue Cash Everyday).
You also get 1% cash back on all other purchases, so if you spend a decent amount each year, you can rack up the cash back.
Cash Back Possibilities:
Monthly gas spending: $400 ($12)
Monthly restaurant spending: $300 ($9)
All other monthly purchases: $1,300 ($13)
Total monthly purchases: $2,000
Cash back per month: $34
Cash back annually: $408
For a cardholder who spends $2,000 a month on the AARP Visa Card, they’d be looking at cash back of $34 a month, and over $400 a year.
And that’s all without an annual fee.
0% APR for 12 Months
The Chase AARP Visa Card also comes with 0% APR for 12 months on both purchase transactions and balance transfers, though there is a 3% fee for BTs.
After that, the credit card APR will rise to a variable 16.24%, which varies based on the prime rate.
There is a 3% foreign transaction fee if you use the card abroad, so you may want to go with a card that doesn’t charge such fees when traveling.
However, Chase offers an additional point for each dollar of airfare or hotel accommodations booked via their toll-free travel redemption number. So you can earn double points on travel as well, which is a nice bonus.
Finally, the AARP Signature Visa Card from Chase offers four levels of protection when you shop:
– Price protection – find a lower price in 60 days and get up to $250 of the difference refunded.
– Purchase protection – if your item is stolen/damaged within 60 days, get up to $250 reimbursed.
– Return protection – if the store won’t take it back, Chase will reimburse up to $250 for eligible returns.
– Extended protection – double the warranty of the products you buy with the card.
As you can see, the AARP Signature Visa Card from Chase is a pretty nifty deal. Not only do you get a decent opening bonus, but you also get great cash back categories that never rotate.
Additionally, there is no annual fee and 0% introductory APR for the first year.
Finally, you get all that added purchase protection, which is clearly geared toward AARP members who demand more piece of mind when using their credit cards.
For the record, Chase is the only card issuer with credit cards endorsed by AARP, which certainly isn’t an easy accomplishment.
In other words, if AARP approved it, you’ll likely find that it’s up to snuff as well.
Tip: You must be a member of the AARP to apply for this credit card. Here is a link to the application page.