A new credit card from Barclays US is offering a period of no-interest financing and rewards points for every dollar spent.
The Diamond Resorts MasterCard will give vacationers six months of 0% APR financing on any Diamond Resorts International down payment.
Cardholders will also get two rewards points for every dollar spent on Diamond Resorts purchases (except for down payments), and one point on every dollar spent everywhere else. Although it is co-branded with Diamond Resorts, the card is accepted anywhere that takes MasterCard.
Reward points can be redeemed for statement credits toward Diamond Resorts vacations. This includes any Diamond Resorts member fees that may apply. The credit card itself has no annual fee, and an ongoing APR of 14.99%, 18.99%, or 21.99%, depending on creditworthiness. There is a 0% APR on balance transfers that lasts for the first 15 billing cycles, if balances are transferred within the first 45 days of opening the account. The balance transfer fee is 3% or $5, whichever is greater.
Earning and redeeming points
New cardholders will receive 2,500 bonus Diamond reward points the first time they use their card to make a purchase, or when they transfer a balance. Balance transfers do not earn reward points.
For every $2,000 in purchases, cardholders will earn 500 bonus Diamond points, in addition to the standard one-point-per-dollar reward. Note that timeshare downpayments on Diamond Resorts properties don’t count toward the $2,000 in qualifying purchases. Points do not expire as long as the account is in good standing, and there is no limit on how many points may be earned.
Points can be redeemed for statement credits toward Diamond Resorts purchases of $50 or more, as long as they have posted to the account within 120 days of the redemption. Points may also be redeemed toward airfare or car rental, at increments of $50, or for gift cards, certificates, and merchandise. Statement credits offer the best redemption value, as it takes 5,000 points to equal a $50 statement credit, and 6,667 points to equal a $50 airfare or car rental credit. Gift cards, certificates, and merchandise offer varying levels of value, all lower than the statement credit reward redemption value.
Diamond Resorts International properties
Diamond Resorts offers timeshare vacation rentals, with 300 destinations located in more than 33 countries. There are Diamond Resorts throughout the United States, Canada, Mexico, Europe, Asia, Australia, Africa, South America and the Caribbean. Popular destinations include Hawaii, Florida, London, Paris, and the Rocky Mountains. They offer a variety of packages, including all-inclusive vacations, cruises, beach vacations, family-friendly getaways, country retreats, and even a Kenyan safari resort package.