Edward Jones MasterCard Credit Card Review

Edward Jones MasterCard Credit Card Review
Rebecca Hosley
on March 17, 2020
Read in 2 min

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 cashback 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 2019.

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.

See Business Lenders

Rebecca Hosley Finance Journalist

Rebecca Hosley is a content writer based in Chicago.

She frequently writes about small business, insurance and finance.

In her free time, she enjoys trivia, craft beer and disc golf.

Featured

5 Mistakes Small Business Owners Should Avoid

by Caitlyn Rose on March 22, 2020
5 Mistakes Small Business Owners Should Avoid
Every small business owner wants to maximize profits over the long term. However, many business owners make mistakes every day… Read more

7 Fast Business Loan Types for When You Need Funds Quickly

by Amy Fontinelle on March 16, 2020
7 Fast Business Loan Types for When You Need Funds Quickly
When your business faces a cash crunch and you need money ASAP, a quick search for fast business loans may be… Read more

Important Disclosures. Please Read Carefully.

Persons facing serious financial difficulties should consider other alternatives or should seek out professional financial advice. This website is not an offer to lend. Lendgenius.com is not a lender or lending partner and does not make loan or credit decisions. Lendgenius.com connects interested persons with a lender or lending partner from its network of approved lenders and lending partners. Lendgenius.com does not control and is not responsible for the actions or inactions of any lender or lending partner, is not an agent, representative or broker of any lender or lending partner, and does not endorse any lender or lending partner. Lendgenius.com receives compensation from its lenders and lending partners, often based on a ping-tree model similar to Google AdWords where the highest available bidder is connected to the consumer. Regardless, Lendgenius.com’s service is always free to you. This service is not available in all states. If you request to connect with a lender or lending partner in a particular state where such loans are prohibited, or in a location where Lendgenius.com does not have an available lender or lending partner, you will not be connected to a lender or lending partner. You are urged to read and understand the terms of any loan offered by any lender or lending partner, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you. By submitting your information via this website, you are authorizing Lendgenius.com and/or lenders and lending partners in its network or other intermediaries to do a credit check, which may include verifying your social security number, driver license number or other identification, and a review of your creditworthiness. Credit checks are usually performed by one of the major credit bureaus such as Experian, Equifax and Trans Union, but also may include alternative credit bureaus such as Teletrack, DP Bureau or others. You also authorize Lendgenius.com to share your information and credit history with its network of approved lenders and lending partners. For qualified consumers, our lenders offer loans with an Annual Percentage Rate (APR) of 35.99% and below. For qualified consumers, the maximum APR (including the interest rates plus fees and other costs) is 35.99%. All loans are subject to the lender’s approval based on its own unique underwriting criteria. Example: Loan Amount: $4,300.00, Annual Percentage Rate: 35.99%. Number of Monthly Payments: 30. Monthly Payment Amount: $219.36. Total Amount Payable: $6,581.78 Loans include a minimum repayment plan of 12 months and a maximum repayment plan of 30 months. In some cases, you may be given the option of obtaining a loan from a tribal lender. Tribal lenders are subject to tribal and certain federal laws while being immune from state law including usury caps. If you are connected to a tribal lender, please understand that the tribal lender’s rates and fees may be higher than state-licensed lenders. Additionally, tribal lenders may require you to agree to resolve any disputes in a tribal jurisdiction. You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.

Lender’s or Lending Partner’s Disclosure of Terms.

The lenders and lending partners you are connected to will provide documents that contain all fees and rate information pertaining to the loan being offered, including any potential fees for late-payments and the rules under which you may be allowed (if permitted by applicable law) to refinance, renew or rollover your loan. Loan fees and interest rates are determined solely by the lender or lending partner based on the lender’s or lending partner’s internal policies, underwriting criteria and applicable law. Lendgenius.com has no knowledge of or control over the loan terms offered by a lender and lending partner. You are urged to read and understand the terms of any loan offered by any lenders and lending partners and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.

Late Payments Hurt Your Credit Score

Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay. If you cannot make a payment on time, you should contact your lenders and lending partners immediately and discuss how to handle late payments.