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The Jasper Cash Back Mastercard®, issued by WebBank, Member FDIC is targeted toward helping those with little or no credit history in the United States build credit, whether you’ve grown up in the country or you’re immigrating to the U.S. for employment.
Compared to many credit cards geared toward credit-building, the Jasper Cash Back Mastercard® does not require a security deposit that serves as your credit line (known as a secured card). Your credit limit will be established by Jasper after reviewing your application and can go up to $5,000.
Overall, the Jasper Cash Back Mastercard® is a fine choice for those starting out on their credit journeys, plus it comes with a good selection of travel benefits, which is rare for credit-building cards. We’ll break down what this card offers, where it falls short and look at two other cards for building credit.
Intro Purchase APR
N/A
Regular Purchase APR
16.99% - 26.49% (Variable)
Intro BT APR
N/A
Regular BT APR
N/A
Annual Fee
$0
Cash Advance Fee
Either $10 or 5% of the amount of each cash advance, whichever is greater
Foreign Transaction Fee
$0*
Balance Transfer Fee
N/A
Apply with little or no credit history
If you have a credit score, the issuer will check it when you apply. But if you don’t have one, your application will still be considered for the Jasper Cash Back Mastercard®.
In fact, the card may be especially helpful for people who are immigrating to the U.S. for a job and need to establish credit. No Social Security number (SSN) is required to apply if you are new to the U.S. and in the country on a work visa, and the company can start processing your application even before you start your new job.
Those applying without an SSN must provide the following:
Once you get your SSN, you’ll have to provide it to Jasper within 60 days of card activation.
Be aware that other applicants, who are not new to the U.S. and on a work visa, must provide a SSN when they apply.
Using the Jasper Cash Back Mastercard® won’t build credit history until you’ve linked an SSN, but once you’ve obtained your SSN and submitted it to the issuer, Jasper will retroactively report your activity to the credit bureaus.
Potentially generous credit limit
Many credit-building credit cards start cardholders off with low credit limits around $200 or $500 (especially secured credit cards, which require a deposit). However, the Jasper Cash Back Mastercard® offers limits up to $5,000 – though you’re not guaranteed to get the highest limit.
Reasonable purchase APR
The regular purchase APR for the Jasper Cash Back Mastercard® is 16.99% - 26.49% (variable). This is quite reasonable considering that the regular purchase APR on some cards can be above 20%. However, it’s still a best practice to pay the card off in full each billing cycle, so you don’t incur interest charges and allow debt to build up.
$0 annual fee
An annual fee of $0 is a definite plus, especially if this is your first credit card. See Jasper’s fee schedule for more details.
$0* foreign transaction fee
Visiting family outside the United States? Don’t worry about paying a foreign transaction fee for each purchase you make abroad – with this card, it’s $0*.
Can't add authorized users
Most credit cards allow you to add authorized users, which can help a spouse or other family member start to establish credit history using your account. At the time of this review’s publication, the Jasper Cash Back Mastercard® does not allow authorized users.
Earning rewards relies on referring others
Get up to 6% cash back by referring friends! Start with 1% and get an extra 1% for a full year for every friend you bring on board. This is perhaps the card’s biggest flaw — most cashback credit cards offer a set rewards rate (whether a flat rate on all purchases or elevated rates for specific purchase categories) rather than tying your rate to how many people you convince to sign up. If you get the Jasper Cash Back Mastercard®, we recommend just using it to build credit and not worrying too much about increasing your rewards rate.
You’ll get cash back earned with the Jasper Cash Back Mastercard® automatically each month as a credit to your account (if your account is active and in good standing). **Terms apply.
Another card geared toward helping immigrants build credit is the Deserve® EDU Mastercard for Students. As the name implies, this card is meant for college students – and for international students, no SSN is needed to apply. (But you won’t build credit history until you link an SSN.)
While the Jasper Cash Back Mastercard® will likely be a better choice for those coming to the U.S. on a work visa, college students will find the Deserve® EDU Mastercard for Students a better fit.
One helpful benefit offered by the Deserve® EDU Mastercard for Students is a reimbursement of up to $59 for Amazon Prime Student. (Note that if billed annually, a Prime Student membership costs $69 a year or a monthly rate of $7.49, so the reimbursement currently won’t cover a full year of membership.)
A flaw of the Deserve® EDU Mastercard for Students is that it only reports to two of the three credit bureaus (Experian and TransUnion), while the Jasper Cash Back Mastercard® reports to all three credit bureaus.
For consumers looking for an alternate card that reports to all three credit bureaus, the Discover it® Secured Credit Card is an excellent first credit card to consider.
The Discover it® Secured Credit Card offers stronger rewards than the Jasper Cash Back Mastercard®: 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically.
And for new cardmembers, Discover will match all the cash back you’ve earned at the end of your first year. The Discover it® Secured Credit Card‘s annual fee is $0.
However, unlike the Jasper Cash Back Mastercard®, the Discover it® Secured Credit Card is a secured card, meaning you must submit a security deposit in the amount of your credit limit (which can range from $200 to $2,500). The deposit is refundable when you pay off the card and close the account, or if Discover graduates you to an unsecured card – and starting at month seven, Discover begins conducting monthly reviews to see if you qualify for that upgrade.
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| Jasper Cash Back Mastercard® | Deserve® EDU Mastercard for Students | Discover it® Secured Credit Card | |
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Apply Now on Deserve's secure site
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Apply Now on Discover's secure site
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Apply Now |
| Rewards Rate | |||
| Get up to 6% cash back by referring friends! Start with 1% and get an extra 1% for a full year for every friend you bring on board | 1% unlimited cash back on ALL purchases | 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically | N/A |
| Welcome Offer | |||
| None | Up to $59 in statement credits for Amazon Prime Student when you spend $500 within the first three statements | Discover will match all the cash back you’ve earned at the end of your first year. | N/A |
| Annual Fee | |||
| $0 | $0 | $0 | N/A |
| Regular APR | |||
| 16.99% - 26.49% (Variable) | 20.99% Variable | 24.49% Variable APR | N/A |
| Recommended Credit | |||
| Excellent/Good/Fair/Poor/Limited | Excellent/Good/Limited | Poor/Limited | N/A |
| Card Details | |||
| Jasper Cash Back Mastercard® | Deserve® EDU Mastercard for Students | Discover it® Secured Credit Card | |
Whether you’re new to the country or simply new to credit, the Jasper Cash Back Mastercard® can be used as a tool to start your financial journey off right. It doesn’t require a security deposit and it reports to all three credit bureaus.
However, the card’s cashback structure is dependent upon referring others to apply for the card. That doesn’t encourage responsible behavior — so we recommend not worrying too much about your cashback rate if you get the Jasper Cash Back Mastercard®.
An alternative card that’s good for building credit while earning cash back is the Discover it® Secured Credit Card. This card does require a minimum security deposit of $200, but it earns cash back at gas stations and restaurants without tying your earning rate to referrals.
By following the best practices below, you can build an excellent credit score that will help you qualify for better rates on products such as mortgages and auto loans, as well as credit cards with premium benefits and rewards. Behaviors that help build good credit include:
As you work to build credit history, it’s smart to keep an eye on your credit score. You can check your score for free, and monitoring it regularly helps you make sure you’re on the right track.