Fred Meyer Rewards MasterCard Review | CreditShout

Fred Meyer Rewards MasterCard Review

By Dan Rafter / December 30, 2010

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Verdict: If you do a lot of shopping at Fred Meyer food stores, you can earn a significant number of rewards points each month through a Fred Meyer Rewards MasterCard. Depending upon how much you charge on your card, you can receive a substantial rebate every quarter. You can then spend this rebate for merchandise at Fred Meyer stores. Of course, if you don’t shop regularly at Fred Meyer stores, you can probably find cards with much lower interest rates.

Overview: The strength of the Fred Meyer Rewards MasterCard lies in its rewards program. You’ll receive a sliding scale of rewards points for every purchase you charge, depending upon where you shop. You’ll earn more points, of course, when you use your card at Fred Meyer stores.

How This Card Works: Each quarter you’ll receive a rebate, based on how much you charged on your Fred Meyer card, sent directly to your credit card account. You can then use this rebate the next time you shop at any Fred Meyer store or purchase fuel at any Fred Meyer fuel center.

Travel and Shopping Benefits: You’ll earn two rewards points for every dollar that you charge at Fred Meyer stores, and one rewards point for every dollar that you charge at all other locations. You’ll also earn an additional 5 cents in rewards money for every gallon of gasoline that you charge at Fred Meyer fuel centers.

Fees: The Fred Meyer card’s interest rate is set based on your creditworthiness. Expect to end up with a rate ranging from 13.99 percent to 23.99 percent. Obviously, these aren’t the best rates in the industry. However, if you spend enough at Fred Meyer stores, you might earn enough in rewards points to negate the high rates.

The card does not come with an annual fee, which is a positive. And it also offers an introductory interest rate of 5.99 percent on all balance transfers for the first nine billing cycles. Late and returned-payment fees are $35, while cash advances cost either $10 or 4 percent of the advance amount, whichever figure is higher.

Pros

  • You can earn a significant amount of rewards points if you shop regularly at Fred Meyer stores.
  • You’ll earn extra cash by charging gasoline at Fred Meyer fuel centers.
  • No annual fee.

Cons

  • Interest rates are high.
  • Card not valuable if you rarely shop at Fred Meyer stores.
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone. Additionally, the opinions of the commenters are not necessarily the opinions of this site

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