Review: SoFi Mastercard

⭐⭐⭐⭐, Credit Card Reviews /

The SoFi Credit Card is a straightforward card for everyday purchases. There are zero fees, and you can get 2.2% cash back on everything, which makes it an attractive general-use card.

In early 2023, they added an extra 1% back for certain travel-related purchases. And as of 4/1/24, customers can get a 10% bonus on points earned, giving 2.2% or 3.3% cash back on everything (previously 2% or 3%). Note that Direct Deposit is required for the best rates.

FEATURES AT A GLANCE

  • No annual fee
  • No foreign transaction fees
  • 3x points for trips booked through SoFi Travel (powered by Expedia)
  • 2x points on everything else
  • 10% points bonus with Direct Deposit enabled

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Review: Elan Travel Rewards+ Visa Signature

⭐⭐⭐, Credit Card Reviews /

The Elan Travel Rewards+ Visa Signature is a mid-tier card for travel and vacationing. Issued by Elan Financial Services, it was released around mid-2023.

This credit card is available at dozens of credit unions, including Spectra and Valley Bank. Card details are the same regardless of which bank you work with. Other Elan cards include the Max Cash Preferred and Everyday Rewards+.

FEATURES AT A GLANCE

  • $99 annual fee (waived the first year)
  • No foreign transaction fees
  • 4x points on travel
  • 4x points on gas (and electric vehicle charging stations)
  • 4x points on entertainment and recreation
  • 1.5x points on everything else

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Review: Elan Reserve Rewards+ Visa Infinite

⭐⭐⭐, Credit Card Reviews /

The Elan Reserve Rewards+ Visa Infinite credit card is aimed at being a relatively high-end all-in-one card. It’s a newer Visa Infinite, issued by Elan Financial Services, released around mid-2023.

This credit card is available at dozens of credit unions, including Spectra and Valley Bank. Card details are the same regardless of which bank you work with. Other Elan cards include the Max Cash Preferred and Everyday Rewards+.

Considering the high annual fee, people will wonder if this card is right for them, and if the benefits outweigh the costs. It’s very subjective in this case.

FEATURES AT A GLANCE

  • $390 annual fee
  • No foreign transaction fees
  • 6x points on travel booked through their Rewards Center (flights, hotels, car rentals)
  • 2x points on everything else
  • $100 credit towards Global Entry or TSA PreCheck (usually once every 4-5 years)

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Review: Signature Federal Credit Union Visa Signature

⭐⭐⭐⭐⭐, Credit Card Reviews /

The Signature Federal Credit Union Visa Signature is an obscure yet powerful everyday card which beats most competitors. It has good cash back rates, no fees, and a host of Visa perks which are normally only found on high-fee Visa Infinite cards. Few credit cards offer superior cash back on non-category purchases or superior non-cashback perks. Side note: this is unrelated to Signature Bank of New York. Signature FCU is its own entity.

FEATURES AT A GLANCE

  • No annual fee
  • No foreign transaction fees
  • 6% cash back on streaming (up to $10 per month)
  • 2% cash back on everything else

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Credit Card Issuers: TD Bank (6 cards reviewed)

Credit Card Reviews, Credit Card Roundups /

In May 2023, TD Bank “revamped” their line of consumer credit cards. In general, there isn’t any reason to consider TD Bank; their credit cards have been worse than competing options for a long time. These cards are still among the worst in the industry even after their updates. Let’s look into why they’re bad and what the alternatives are.

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Review: Ness Wellness Card

⭐⭐⭐, Credit Card Reviews /

UPDATE for 11/15/2023: The card is shutting down. Rewards can be redeemed through 11/22/23 and balances must be paid by 12/19/23. According to a new message on their home page, “…the short answer is we’ve simply run out of money. We’re a venture backed startup and always anticipated raising more funding… but haven’t been successful there.”

***

Initial review from April 2023:

The Ness Wellness Card (issued by The Bank of Missouri) is a health-focused charge card running on the Mastercard network. It’s a complex program with a lot going on here, so let’s take a deep dive to check out the potential of this card.

First, you need an iPhone or iPad to be eligible, running iOS 14 or greater. This unfortunately limits the pool of people who can apply for the card by about half. Ness notes that “We may not be able to award you points if we are unable to obtain your Health Information from Apple HealthKit.”

FEATURES AT A GLANCE

  • $349 annual fee
  • No foreign transaction fee
  • 5x points on “health and wellness” which includes grocery stores, select restaurants, meal kits, vitamins, pharmacies, healthcare services, athletic apparel, and more.
  • 2x points on everything else
  • $200 annual health and wellness credit (applies to purchases earning 5x points)
  • $200 annual “healthy activity” credit, awarded as “up to 56 points per day”
    • 14 points for 30+ active minutes per day
    • 14 points for 10+ “mindful” minutes per day
    • 14 points for 7+ hours of sleep per day
    • 14 points for 6,000+ steps per day (ideally you want to get 10,000 daily)
  • Up to $360 in annual Sweetgreen credits: spend $75 in a month to get a $15 credit (can do this twice per month—Ness advertises this as “Every 5th & 10th Salad Free at sweetgreen each month“). The $75 can include the $10/month cost for Sweetpass+.
  • Various other credits and discounts

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Benefits and Differences Between Mastercard World and World Elite

Reference /

Mastercard credit and debit cards have different benefits depending on the type of card, the bank it was issued at, and which category it falls into. Mastercard’s categories include World and World Elite. We’ll take a look here into what the different benefits include.

Note that some foundational benefits are expected at all times, like Visa cards. If your card is lost or stolen, you can lock it and/or you won’t be held liable for unauthorized transactions. Most modern cards should also have EMV chips, a tap-to-pay (NFC) feature, and mobile wallet compatibility.

Standard Mastercard

Standard Mastercards have limited benefits. Little more than the basics you’d expect from all cards.

Basic/security benefits:

  • Mastercard ID Theft Protection: “Monitor your credit file for fraud, receive alert notifications about suspicious activity and get assistance from a resolution specialist.”
  • Mastercard Zero Liability Protection: “you’re not responsible in the event someone makes unauthorized purchases with your card.”
  • Mastercard Global Services: “Get emergency assistance virtually anytime, anywhere and in any language. Report a lost or stolen card, get an emergency replacement and more.”

Partner benefits:

  • McAfee: 30-day free trial to McAfee Total Protection and discounted rate for the first year of your subscription.

Other potential benefits:

  • Price Protection (if you find a better price after purchasing something, you may be refunded the difference.)
  • Purchase Protection (if your purchase becomes lost or damaged, you may be refunded some or all of its value.)
  • Extended Warranty Protection (if your purchase has a warranty, it may be extended for a term of up to 3 years.)
  • Return Protection (if you need to return a purchase but the merchant won’t accept the return, you may be refunded some or all of its value.)

World Mastercard

World Mastercards add a lot of benefits and perks compared to the Standard tier. They’re often roughly equivalent to Visa Signature cards and rarely have annual fees.

Basic/security benefits:

  • Mastercard ID Theft Protection: “Monitor your credit file for fraud, receive alert notifications about suspicious activity and get assistance from a resolution specialist.”
  • Mastercard Zero Liability Protection: “you’re not responsible in the event someone makes unauthorized purchases with your card.”
  • Mastercard Global Services: “Get emergency assistance virtually anytime, anywhere and in any language. Report a lost or stolen card, get an emergency replacement and more.”

Travel benefits:

  • Priceless Experiences: Access to tickets to various events
  • Mastercard Golf: Access to various golf events, tee times, and tips
  • Complimentary travel services
  • Mastercard Hotel Stay Guarantee: “Book a three-star or higher hotel stay through the Mastercard Travel & Lifestyle Services program, and should you encounter problems with the hotel, a Lifestyle Manager will work to make it right.”
  • Lowest Hotel Rate Guarantee: “If you book a qualifying prepaid hotel rate through Mastercard Travel & Lifestyle Service and you find the same exact hotel stay for less, we will refund the difference.”
  • Mastercard luxury hotel and resorts portfolio: “Amenities and upgrades at more than 3,000+ properties around the globe, like complimentary breakfast for two daily, amenity credits up to $100 and more.”
  • Free nights, car, RV, air: “Enjoy free nights at partner hotels, status upgrades on car rentals, savings on air and private jets.”
  • Mastercard Airport Concierge: “Dedicated meet-and-greet agent to escort you and your loved ones through the airport at 700+ locations worldwide.”

Partner benefits:

  • Lyft: If you take 3+ Lyft rides in a month, you’ll get a $5 credit towards a future ride.
  • DoorDash: $5 discount on your first order each month, plus a 3-month free trial of DashPass membership.
  • ShopRunner: Free “online membership that unlocks free 2-day shipping and free returns at dozens of top stores, including Under Armour, Cole Hann, Bloomingdale’s and more.“
  • McAfee: 30-day free trial to McAfee Total Protection and discounted rate for the first year of your subscription.

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Review: Elan Everyday Rewards+ Visa Signature

⭐⭐⭐⭐, Credit Card Reviews /

The Everyday Rewards+ Visa Signature credit card is a trimmed-down version of the U.S. Bank Altitude Go card for regional banks. It’s good for restaurant-related expenses.

In general, the Altitude Go is much better. The Everyday Rewards+ is only an alternative for people outside of U.S. Bank’s footprint. Because of U.S. Bank’s regional restrictions on applications, not everyone can get their credit cards. Elan cards function as a workaround. Many credit unions and other small banks carry Elan-issued cards. For example: A+ Federal Credit Union, Kearny Bank, Trustco Bank, and Webster Bank. Check your local area to see what’s available.

Also see: the Max Cash Preferred, which is an alternative to the U.S. Bank Cash+ card.

FEATURES AT A GLANCE

  • No annual fee
  • 3% foreign transaction fee
  • 4x points on dining (including delivery and takeout)
  • 2x points on groceries (including delivery)
  • 2x points on streaming
  • 2x points on gas (and electric vehicle charging stations)
  • 1x points on everything else

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Review: Chase DoorDash Mastercard

⭐⭐, Credit Card Reviews /

In March 2023, Chase launched a Doordash Mastercard. It gives cash back on most food or delivery-related purchases. The immediate value of the card is unclear. Whether or not you’ll personally benefit depends on your budget and spending habits. Most people probably won’t benefit, especially since it rarely makes financial sense to use Doordash on a regular basis.

FEATURES AT A GLANCE

  • No annual fee
  • No foreign transaction fee
  • 4% cash back on DoorDash and Caviar orders
  • 3% cash back at restaurants
  • 2% cash back at grocery stores
  • 1% cash back on everything else

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