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Verdict: The rewards credit card business is a competitive one, with card issuers offering a host of perks to entice consumers to apply for their cards. The M&T Visa Credit Card with Rewards offers its own perk: For the first six months in which you own this card, you’ll earn double the rewards points on every purchase that you make with your card. This makes this an intriguing card for consumers who charge a lot each month.
Overview: In addition to its introductory rewards point offer, the M&T Visa Credit Card with Rewards also offers consumers an introductory interest rate of 0 percent on balance transfers for the first six months after they activate their accounts. This could make this an attractive card if you have a significant amount of high-interest debt on your other credit cards.
How This Card Works: After earning enough rewards points — point that you’ll earn with every charge that you make with this card — you can redeem them for a host of rewards. You can turn your points into cash, travel rewards, gift cards and merchandise.
Travel and Shopping Benefits: For the first six months in which you own this card, you’ll earn two rewards points for every dollar that you charge. After this introductory period ends, you’ll earn one rewards point for every dollar that you charge. This card also comes with free overdraft protection and a debt cancellation plan that offers financial protection should you lose your job or be unable to work because of injury or illness.
Fees: Depending on your creditworthiness, your purchase interest rate will range from 11.24 percent to 18.24 percent. The higher your credit score, the lower your interest rate will be. You’ll also qualify for an introductory interest rate of 0 percent on all balance transfers during the first six months in which you own this card. You’ll be hit with a penalty interest rate of 24.99 percent if you fail to make your minimum monthly payment within 60 days of its due date. The card’s returned-check fee is $20, while its late-payment fee comes in at $25. Cash advances cost either $10 or 3 percent of the advance amount, whichever figure is higher. There is no annual fee with this card.
- Bonus rewards points during first six months that you hold this card.
- Low purchase interest rate if you have strong credit.
- No annual fee.
- Solid rewards program.
- Interest rate can be a high 18.24 percent if your credit score is low.
- Penalty interest rate of 24.24 percent.
- Can only earn single rewards points once introductory offer ends.