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Jasper Cash Back Mastercard® Review

Jasper Cash Back Mastercard® Review

Regular Purchase APR
16.99% - 26.49% (Variable)
Build Credit
Unique auto payment options that help you build and maintain your credit score
Foreign Transaction Fee
$0*
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the Jasper Cash Back Mastercard® best for?

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.

Card overview

    • 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
    • Cash back not limited to certain categories, earn on almost all everyday purchases
    • No annual fee, no security deposit, no foreign transaction fees
    • Simple, intuitive app to manage your account
    • Unique auto payment options that help you build and maintain your credit score
    • Receive cash back automatically every month as a statement credit after three on time payments
    • Earn cash back as long as your account is in good standing
    • Your cash back maximum varies based on your credit limit
    • See Jasper’s terms and fees
    • Issued by WebBank, Member FDIC
  • Credit needed:
    660 719
    Excellent/Good/Fair/Poor/Limited
  • Purchase assurance for theft, damage, or loss
  • Cellphone protection
  • Identity monitoring and identity theft resolution
  • TransUnion credit file monitoring
  • URL and domain monitoring
  • Price protection
  • Extended warranty
  • Travel accident insurance
  • Trip cancellation/trip interruption
  • Baggage delay insurance

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

Pros and cons

Pros

  • Apply even without credit history
  • Potentially generous credit limit
  • Reasonable purchase APR
  • No annual or foreign transaction fees
  • Reports account activity to all three credit bureaus

Cons

  • Can’t add authorized users
  • Rewards are based on a referral plan

What we like about the Jasper Cash Back Mastercard®

  • 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:

    • Passport
    • Visa information
    • Proof of U.S. employment

    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*.

What to watch out for with the Jasper Cash Back Mastercard®

  • 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.

Alternate credit-building cards

Deserve® EDU Mastercard for Students

| Disclosures
Deserve® EDU Mastercard for Students
Deserve® EDU Mastercard for Students
on Deserve's secure site
N/A
22.49% variable
$0
1% unlimited cash back on ALL purchases
  • Receive one year of Amazon Prime Student on Deserve after your first purchase with your new Deserve EDU Mastercard (Lifetime Value of $59).
  • Earn 1% Cash Back on all purchases with your Deserve EDU Mastercard. Once approved, you'll automatically start earning cash back on all purchases.
  • Feel secure with cell phone protection up to $600.
  • No deposit required. No annual fees.
  • No international transaction fees on purchases abroad so you can travel with confidence.
  • No Social Security Number required for international students to apply.
  • Refer A Friend Program: Refer anyone to Deserve using your personal referral code. Upon approval, card activation and use, you'll receive $30 and so will your referral. Referral bonuses are unlimited!
  • Manage and track your spending, set automatic payments and securely freeze your card all through one easy to use app.
  • See if you prequalify with no impact to your credit score in minutes.
  • Deserve Mastercards are issued by Celtic Bank, Member FDIC.
  • Enjoy Mastercard Platinum Benefits intended to make your life easier like Mastercard ID Theft Prevention™ and Master Rental®.
540 850

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

 

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.

Discover it® Secured Credit Card

| Disclosures
Discover it® Secured Credit Card
Discover it® Secured Credit Card
on Discover's secure site
N/A
25.99% Variable APR
$0
2% cash back at Gas Stations and Restaurants on up to $1,000
  • No credit score required to apply.
  • No Annual Fee, earn cash back, and build your credit with responsible use.
  • Establish your credit line by providing a refundable security deposit of at least $200. That means a $200 deposit for a $200 credit line. Or a $500 deposit for a $500 credit line. Bank information must be provided when submitting your deposit, and the security deposit equals your credit limit.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • Click "Apply Now" to see terms and conditions.
300 540

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

 

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.

Compare similar cards to the Jasper Cash Back Mastercard®

Comparison of four different credit cards
Jasper Cash Back Mastercard® Deserve<sup>®</sup> EDU Mastercard for Students Discover it<sup>®</sup> Secured Credit Card
Jasper Cash Back Mastercard® Deserve® EDU Mastercard for Students Discover it® Secured Credit Card
Read Review
Apply Now
on Deserve's secure site
Apply Now
on Discover's secure site
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) 22.49% variable 25.99% 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

Is the Jasper Cash Back Mastercard® right for you?

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.

How to build good credit

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:

  • Paying on time and in full. Of all the factors that influence your credit score, paying on time carries the most weight. And paying in full is smart so you don’t build up debt.
  • Keeping your utilization low. Utilization is the amount of your credit limit that you’re using. It’s typically expressed as a percent, and experts recommend using less than 30% of your credit limit every month – for example, $300 on a card with a $1,000 limit.
  • Applying for new credit judiciously. New credit makes up 10% of your score. When you apply for new credit, you add a hard inquiry to your credit report, which typically knocks your score down by about five points. Plus, new accounts reduce the average age of your accounts, and length of credit history makes up 15% of your credit score.

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.

The information related to the Jasper Cash Back Mastercard® has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.