In addition to financial planning services, investment company Edward Jones also offers consumer and business credit cards with competitive rewards and interest rates.
We’ll review the card options for both consumers and business owners, and cover why you might want to choose an Edward Jones credit card vs. a competitor.
Edward Jones Credit Card: How Each Card Compares
There are three cards for consumers to choose from, based on their credit score and whether they plan to carry a balance or not and there is one card option for business owners.
The World MasterCard is designed for balance carriers, or those who want to transfer over a balance from an existing card.
It has a low variable interest rate of 12.99% and you earn one reward point for every dollar you spend.
There is also a 10,000 bonus point welcome offer if you spend $1,000 within the first 90 days of opening your account.
But one of the biggest advantages of this card is the 0% APR on balance transfers for 12 months, in addition to no fees on balances transferred within the first 30 days of opening your account.
If you typically pay off your balance each month and wants to max out on rewards, you may want to consider the World Plus MasterCard.
With a 14.99 – 25.99% variable APR the interest rate is higher, but you can earn 1.5 reward points for every dollar charged.
If you spend $20,000 in less than a year, you’ll earn two points per dollar after that for the remainder of the year.
Consumers who aren’t eligible for the World or WorldPlus MasterCard may still qualify for the Platinum Mastercard.
Cardholders still earn 1 point per $1 on all eligible purchases but won’t receive all the same benefits.
The point redemption values may also differ.
The Business Plus MasterCard offers business owners the balance transfer and introductory offer of the World MasterCard, combined with the earnings rate of the World Plus card.
Additional Benefits of the Edward Jones MasterCard
All four credit cards have no annual fee, and points can be redeemed in a variety of ways, including cash back, travel rewards, gift cards and charitable rewards.
You can also have cash back rewards deposited directly into your Edward Jones account.
Other perks include support from your dedicated financial advisor, 24-hour concierge service, fraud protection, and travel accident insurance.
Is an Edward Jones Card the Best Choice for You?
While once a common incentive, it is rare to find a balance transfer offer with no fees in 2018.
If you want to transfer over a large balance, the lack of fees can save you some serious cash.
It’s also a good choice for people who pay off their balance monthly and want to earn extra rewards.
Finally, if you could use an extra nudge to add to your retirement savings, the option to transfer cash rewards directly to your account gives you another way to save for retirement.
As an alternative to credit cards of any kind, a personal loan can be used to pay off an existing balance, but this really only makes sense if you can get a lower interest rate.
Check here for more info on personal loan interest rates now.