Credit Cards

AARP Credit Card Pros and Cons

aarp-credit-card-iconMany consumers hold the AARP Visa credit card. Contrary to popular belief, you don’t have to have an AARP membership to get this card. You don’t even need to be retired or over 50. The application for this card is nearly identical to applications for all major credit cards.

The card was designed with a strong emphasis on AARP values. In other words, it offers many perks that are tailored for AARP members. The card behaves like most major credit cards, but it’s tailored for an older demographic.

Serviced by Chase Bank and issued by AARP, the AARP Visa credit card is classified as a competitive rewards card. One of the great benefits is that there is no cap on the cash back rewards you can get from this card.

With the AARP Visa card, you can get 3 percent cash back at fuel stations and restaurants, and you can get 1 percent cash back on virtually all other purchases.

The Pros of the AARP Visa Card
For starters, there is no annual fee. The card provides many ways to redeem earned cash back. For example, you can have cash back deposited into a savings account, or you can get gift cards or statement credits.

Earned cash back can even be redeemed for travel, and there are no restrictions or blackout dates. The only way your rewards expire is if you close your account. The card offers return protection, price protection, extended warranty, no rewards caps and protection for lost or stolen items.

Since it’s equipped with an EMV chip, is safer and more secure than regular magnetic strip cards. The EMV chip is especially important for use outside of the United States.

The AARP Visa card lets you get up to $100 bonus cash back when you spend $500 within the first three months of opening your account. Another benefit is that you can pre-qualify for the card.

The Cons
All credit cards have some downsides, and the AARP Visa credit card is no different. Although the card is equipped with an EMV chip, it comes with 3 percent foreign transaction fees.

If you travel frequently and plan to use the card often, the foreign transactions fees can add up quickly. Another downside is the unimpressive customer service offered for the card. To talk to service representatives who’re based in the United States, you’ll need to call during the day.

A Look at the Fine Print
Before you get this card, you’ll want to have a good understanding of the fine print. The cash back minimum is 2,000 points or $20. If you’re a Chase cardholder, and you have other Chase cards enrolled in rewards programs, then you might not be eligible for the AARP card.

If you sign up for this card and give Chase your phone number, you’re authorizing them to call or send messages regarding your accounts, which some people find very annoying.

If you’re a Chase cardholder who has a history of using your cards for nothing more than promotional pricing offers, then you’re not eligible for a second card that offers promotional pricing. This should only be a problem if you’re someone who regularly churns credit cards.

Who Should Get This Credit Card
The AARP Visa credit card is aimed at an older demographic, but it can still work very well for younger consumers. Unlike many other credit cards, it has terms and conditions that are easy to understand.

If you sign up for this card, it’s likely that AARP will try to get you to join their membership plan so be prepared for that. If you’ve already been considering an AARP membership, then this could be a great card for you. It’s even more appealing to consumers who wish to support the Drive to End Hunger.

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