The
AARP Rewards Credit Card is a good option for anyone with a 700+ credit score who spends a lot on gas and drugstore purchases. It’s worth getting because it offers bonus rewards in those spending categories and does not charge an annual fee. You don’t even need to be an AARP member to qualify, but membership does entitle you to more benefits.
What I Like About the AARP Rewards Credit Card
$100 initial bonus
All you have to do to earn $
100 cash back is spend at least
$500 within
90 days of opening your AARP Credit Card account. That’s only $167 a month for what amounts to 20% cash back.
Solid rewards for gas, drug store purchases and medical expenses
You will earn 1% cash back on most purchases made with the Barclays AARP Visa Card, which is about the
market average for a cash back credit card – so pretty good but not great. The exceptions to this rule are gas and drug store purchases, which earn 3% cash back, and medical expenses, which earn 2% cash back. The more you spend in those three purchase categories, the more rewarding the AARP Credit Card will be.
0% balance transfer promotion
The AARP credit card offers an intro APR of
0% for 15 months. That’s longer than average, according to our research, so it could help you save more than average if you’re able to pay off your debt by the time the higher regular APR takes effect.
$0 annual fee
One of the best things about the AARP Credit Card is the fact that it doesn’t charge an annual fee. That saves you
$25.22 per year compared to the average credit card offer, according to WalletHub’s latest Credit Card Landscape Report.
Still, it’s worth noting that if you can qualify for the AARP
Mastercard, you’ll be able to get plenty of other credit cards with
$0 annual fees. So your task should be to find the offer with either the best rewards or the longest 0% intro period, depending on whether you plan to pay your bill in full every month.
What I Don’t Like About the AARP Rewards Credit Card
High regular interest rate is not to be messed with
You need good or excellent credit to get approved, and the average credit cards for good and excellent credit charge
23.9% and 17.67%, respectively. You’re bound to overpay if you carry a balance from month to month with the AARP card, so plan to pay your full statement balance by the due date every month in order to avoid interest charges entirely, if you decide to apply.
Costly international travel companion
The AARP Card charges a
3% foreign-transaction fee, so it should not be used for international travel or purchases from merchants based abroad. There are plenty of
no foreign fee credit cards for those purposes.
Balance transfer fee complicates things
The AARP Card is a good balance transfer card, but its transfer fee makes it slightly less appealing. You have to pay
5% (min $5) of each balance you transfer. You should use our balance transfer calculator to make sure you won’t save more with another card.
You need good credit or better
The Barclays AARP Credit Card requires applicants to have at least good credit to get approved. So make sure to
check your credit score for free here on WalletHub before making up your mind.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
