REI Co-op Mastercard

Built for people who buy gear: 5% back on REI purchases on top of the annual co-op member dividend, plus 2% on dining, grocery and gas. The catch is the 5% pays out as REI rewards you redeem at REI, so it's only worth full value if you keep buying there; a flat-2% cash card is more flexible for everyone else. Spend $1,000/yr at REI and that's about $50 back plus your dividend, versus $20 on a generic card. No annual fee, but you'll want the co-op membership to get the dividend, and the regular APR is steep for carrying a balance, so confirm the rate on Bread Financial's site.

REI Co-op Mastercard at a glance

Rewards & perks

• 5% returned at REI, layered on top of the yearly co-op dividend
• Rewards arrive in the form of REI gift cards
• 2% earned across everyday spending categories

Pros

• Carries no annual fee
• Outstanding rewards on REI purchases
• Works anywhere Mastercard is taken

Cons

• Rewards come back as REI gift cards
• Full value depends on holding an REI Co-op membership
• Suits outdoor enthusiasts best

Who should apply

• A credit score in the good range
• An REI Co-op membership is advisable
• Income adequate to back the credit line

Before you apply: card terms change often. Confirm the current annual fee, APR, welcome offer and rewards on the official REI Co-op site. CreditCardCompare is an independent comparison resource, not the card issuer, and this is not financial advice.