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Verdict: The M&T Visa Signature Credit Card boasts two main positives: It allows you to earn rewards with every purchase that you charge, and, if your credit score is good, it comes with a low purchase interest rate. But if your credit score is not solid, expect to be saddled with a purchase interest rate above 18 percent.
Overview: This card comes with a rewards plan that’s easy to understand. And because it’s M&T Bank’s “Signature” card, it comes with several other benefits, too, including free concierge service, special shopping offers from retailers across the country and the ability to purchase tickets to Broadway shows and major sporting events before the rest of the public.
How This Card Works: After you earn enough rewards points — which are tied into the amount of dollars you charge every month — you can redeem them for cash, gift cards, merchandise and travel perks. You can earn points at a faster rate by combining points from the M&T Bank Visa Check Card, a type of debit card.
Travel and Shopping Benefits: During the first six months after you activate this card, you’ll earn two rewards points for every dollar you charge. After this period ends, you’ll earn one rewards point with every dollar that you charge on the M&T Visa Signature card. By taking out this card, you’ll also receive free concierge services, travel insurance, preferred access to popular events and special offers from high-end retailers. You’ll also be eligible to receive preferential treatment at spas and hotels across the globe.
Fees: The purchase interest rate attached to this card varies depending on your credit score. If your credit score is high, you can qualify for a rate as low as 9.24 percent. If your score is too low, you might be stuck with a purchase interest rate as high as 18.24 percent. There is no annual fee with this card, but its late-payment fee is $25. The returned-payment fee is $20, and cash advances cost either $10 or 3 percent of the advance amount, whichever is higher.
- Double rewards points during first six months.
- Earn rewards points with every purchase that you charge.
- A wide variety of additional perks.
- Purchase interest rate can be as high as 18.24 percent if your credit is weak.