Jasper Mastercard

Andrew Reyes  | 
  • Annual percentage rate (APR): 15.49% variable.
  • Purchase intro APR: None.
  • Rewards: None.
  • Annual fee: $0.
  • Late fee: $27.
  • Credit score: No credit to fair credit (0-670).
  • Compare cards here.

Benefits

  • No credit check for recent immigrants: For individuals who have recently moved to the U.S. (within one year) and are in the country on a work visa, a credit check is not required. In fact, with some exceptions, a Social Security number is not required. All you’ll need is your passport and proof of income. The application process allows individuals to be approved up to two months before the start of their new U.S.-based job, giving this audience some much-needed financial flexibility during this transition.
  • Low or no fees: If you’ve been burned in the past by a credit card with excessive fees, you know how fast those little charges can add up. Fortunately, this card has no annual fee, no penalty APR, and no foreign transaction fees. This means you won’t need to pay to keep your card each year, nor will you need to pay excessive fees when making purchases abroad. For many recent immigrants, who need to allocate their money wisely to begin building their credit, this aspect of the card is a huge benefit.
  • High credit limit for requirements: Compared to other credit cards for consumers in this credit range, the Jasper Mastercard has a high credit limit — up to $5,000. For consumers who are new to credit, this is a great limit. While it is important to pay off your balance each month if you want to avoid interest costs, this higher limit gives a lot of financial versatility. Secured credit cards, in comparison, generally only offer credit limits of a few hundred dollars, and those limits are determined by how much you can deposit.

Drawbacks

  • Does not report to Experian: Ideally, credit cards for individuals looking to build their credit should report to all three credit bureaus: Equifax, TransUnion, and Experian. However, Jasper does not report to the latter; card activity will not be reported to Experian. Future credit checks from lenders may come back lower than expected if they calculate your credit score based on Experian reports.
  • Limited rewards: With no cash-back or point rewards, the Jasper Mastercard is not the ideal choice for consumers interested in maximizing rewards. However, very few cards in this category offer great rewards without high fees. When weighing this card against competing card offers with rewards systems, compare these costs to see if the rewards are worth it. Before applying, it’s important to determine whether this trade-off is worth it to you.
  • No intro APR or balance transfers: While the up to $5,000 credit limit may seem like a great tool to make major purchases or handle debt on credit cards with higher interest rates, there is no intro APR for the Jasper Mastercard, nor are balance transfers allowed. You’ll need to explore other credit cards or loan offers to find a solution that suits your financing or debt consolidation needs.

What Can You Expect From the Jasper Credit Card?

Interested in learning more about what you can expect from the Jasper Mastercard? The card’s mobile app, as well as the many perks of being a Mastercard holder, will impact your overall experience with it.

Jasper Card Mobile App

You will only be able to access your account through the Jasper Card mobile app, as there is no online portal on desktop computers. Available for Android and iOS devices, the app allows users to review charges, make payments, authorize charges that are flagged as potentially fraudulent, and set up utilization alerts. The software has fair reviews on both platforms, with users praising the app’s intuitive design but complaining about intermittent crashes.

Perks for Jasper Cardholders

While common to many credit cards (particularly other Mastercards), it’s important to consider all of the perks available to Jasper cardholders. These include:

  • Purchase guarantee: Purchases are generally protected against loss, theft, or damage for up to 60 days.
  • Mastercard identity theft protection and alerts: If you are the victim of identity theft, Mastercard will assist you in reporting the incident and recovering your identity. Further, you will receive notifications if Mastercard discovers that your personal data is found being sold online.
  • Mastercard travel services: Mastercard offers a number of discounts, upgrades, and travel advisory services to cardholders, and you can even find exclusive events through the Priceless Cities service. Additionally, cardholders are covered under trip cancellation insurance and travel accident insurance.
  • Cell phone protection: By paying your monthly bill through the app you are eligible for a cell phone insurance plan that provides up to $600 in coverage.

Who Should Get the Jasper Mastercard?

If you’ve recently moved to the U.S. or intend to move there soon, you may already be aware of the fact that it can be hard to start building your credit from scratch. Designed for professionals who have recently moved to the U.S., the Jasper Mastercard is an ideal choice for individuals with limited or no credit history.

While the Jasper Mastercard is outperformed by other credit cards in several ways, few are as accessible and forgiving in regards to fees as this offer — particularly for this audience. Depending on your credit history and needs, this card could be an excellent choice to start building your credit and working your way toward more lucrative credit card offers.

Compare other similar credit cards and learn more here.


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