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Verdict: The Ace Rewards Visa card is a good one for anyone who spends a lot of money on hardware. However, its promise of a cash-back bonus of 5 percent for charges made at Ace hardware stores is a bit misleading; to qualify for the full bonus of 5 percent, you’ll first need to charge a minimum of $12,000 a year on your Ace Rewards card. Aside from that bit of misleading promo copy, though, this is a solid rewards card.
Overview: Like most rewards cards, the Ace Rewards Visa card provides you with a cash-back bonus with every purchase that you charge on your card. You’ll earn a higher percentage of cash, though, depending upon where you use your card.
How This Card Works: You’ll earn the highest cash-back bonus when you charge items at participating Ace hardware stores. You’ll also earn a fatter cash-back bonus when you use your card to make purchases at gas stations and grocery stores. You’ll earn the smallest bonus when you charge items at any other location.
Travel and Shopping Benefits: You’ll earn a cash-back bonus of 3 percent of all the purchases you make at participating Ace hardware stores with your Ace Rewards Visa card. If you charge at least $12,000 on your Ace card in a given calendar year, you’ll earn an additional bonus of 2 percent, making the bonus for Ace purchases 5 percent.
You’ll earn a cash-back bonus of 2 percent for all purchases that you charge at gas and grocery stores, and a bonus of 1 percent for all other charges. You’ll also earn a $10 enrollment bonus certificate when signing up for the card. You can spend this $10 at any participating Ace store.
Fees: The Ace Rewards card comes with a purchase interest rate of 13.99 percent to 22.99 percent, depending on your creditworthiness. Cash advances cost either $5 or 4 percent of the advance amount, whichever is higher, while late and returned-payment fees run $35.
- Can earn rewards quickly by shopping at Ace hardware stores.
- Can earn higher cash-back rewards when charging groceries or gasoline.
- No annual fee.
- Have to charge at least $12,000 in a year to earn the top bonuses.
- Purchase interest rate can be high if your credit score is weak.