Members of the American Association for Retired Persons, the nonprofit for people over 50, can apply for a new cash back rewards credit card. The organization, which has more than 37 million members, has teamed with Chase to issue the AARP Visa Signature Card, a cash back credit card with no annual fee.
The card offers 3% cash back on gas station and restaurant purchases. All other purchases with the card give 1% cash back, and there is not limit to how much cardholders can earn.
Here’s how much cash back a typical cardholder could expect to earn each year:
• Gas station spending: $3,000 (3% = $90 cash back)
• Restaurant spending: $2,600 (3% = $78 cash back)
• Miscellaneous spending: $8,000 (1% = $80 cash back)
Total rewards: $248 cash back on $13,600 in purchases throughout the year. If you take more road trips and eat out more often, the rewards will be greater. Add grocery shopping and other everyday expenses at a penny on the dollar in rebates and the savings add up. And there are no earning caps.
Rewards can also be redeemed for things other than cash back. If cardholders prefer, they can put their earned reward points toward:
• gift cards
Cardholder perks include a 10% discount on travel booked through the Chase rewards site and extended warranty protection on all purchases at no extra cost.
Visa Signature benefits
This is a Visa Signature card and they come with many additional cardholder benefits such as concierge service 24 hours a day, seven days a week. Members can use the service to book hotel rooms, rental cars and flights, make restaurant reservations, and get assistance locating pharmacies or other needed services while traveling. Travel insurance, purchase protection and car rental insurance are also offered on all Visa Signature branded cards.