When looking for a rewards card that you want to actually use, the Barnes & Noble MasterCard is one of those cards. Barnes & Noble is the ideal store for the avid reader. If you like to read, then this is a card that is going to benefit you.
The rewards that are received by the Barnes & Noble MasterCard begin immediately after your first purchase. This is Barnes and Noble's way of saying “thank you” for applying for and receiving this credit card. It is also their way of showing you what you will receive when you opt to obtain this card.
There are two ways in which you earn rewards: You earn a point for every dollar charged to the card on everyday purchases. When you reach 2,500 points, then you automatically receive a $25 Barnes & Noble gift card. This means that there is no having to request the gift card, making obtaining your rewards effortless.
When you use the card with Barnes & Noble on eligible purchases, you will earn cash back in the way of a credit on your statement. This is a way in which you can save money on the use of your card. In addition to the fact that there is no annual fee, the card is a very affordable one to have.
The Application Process
When applying for the card, it is very simple. The decision will be delivered to you in approximately 30 seconds after the simple form is filled out. All you need is your basic identifying information, employment and financial information, contact information, and security information. If you are already a Barnes & Noble member, you will need to enter your member number.
You also have the opportunity to enter additional credit card users if you have any you would like to add to the card. If you wish to opt for paperless statements so that your statements are delivered to your email instead of your postal mail, you can do so. The paperless statement is considered a safer way to receive your statement since there are certain security measures that are typically put in place in relation to email. You don't have to worry about your statements being stolen from your mailbox and your information used in identity theft. Paperless statements are also environmentally friendly.
Another area of the application is the balance transfer section. If you wish to transfer the balance from higher interest cards to this card, then you can list the account numbers. Once this information is entered, if applicable, you can then read the legal terms and conditions, accept them, and apply for the card. In 30 seconds, you will receive the decision.
APR And Fees
The APR and fees are rather simple in that the APR a person pays is within a range. Where the rate lies within this range depends on a person's creditworthiness and the Prime Rate. There is, however, one time when the APR can exceed the normal rate and that is when a late payment is made. When a late payment is made, the penalty APR is applied and it can be applied indefinitely. It is much higher than the regular APR.
As for the late payment fee, it can vary by state. The terms and conditions of the card will advise on which states are included and what the fee will be. The same applies to returned payments. If a payment is returned due to insufficient funds, then a fee will be assessed to the account. If the insufficient funds result in a late payment, the late payment will be assessed as well and that will cause the penalty APR to go into effect.
As for the transaction fees, they cover balance transfers, cash advances, and foreign transactions. The fees for all of these transactions are a percentage of the transaction amount or a minimum dollar amount, whichever is greater. Balance transfers and cash advances also have their own APRs. The balance transfer APR can be any percentage within a range. Just like the purchase APR, the balance transfer APR is based on creditworthiness and the Prime Rate. The cash advance APR, however, is fixed regardless of creditworthiness and it can be higher than the purchase APR and the balance transfer APR.
But what makes the card a little more special is the fact there is no annual fee. When coupled with the fact that the cardholder can receive statement credits for Barnes & Noble purchases, as well as points toward gift cards on all other purchases, the effect that the APR has on the card cost is minimized.
Paperless billing is one of the ways to manage the card online. You can opt to have your bill sent to you via email so that you do not have to worry about it being stolen from the postal mail or lost. You can also access your online statement at any time so that you know due dates, can view transactions, and other data. You can also use online account management to pay your bills and to also view your points so you know where you stand in regards to how far you have to go before hitting the 2,500 points you need to obtain your next Barnes & Noble gift card.
If you opt to manage your account online, which is what many cardholders do so that they can look at their account any time they wish. There is no worry about losing statements or having to be on hold to customer service. If you do need to speak to a person, customer service is available 24/7 to address any concerns.
When in need of a rewards credit card that appeals to your interests, the Barnes & Noble MasterCard is one of those cards. You can use the card to buy from the many products offered by Barnes & Noble so that you can earn the cash back that is going to save you money. Combined with the points earnings on everyday purchases, the card at least partially pays for itself.