Jasper Cash Back Mastercard benefits guide

The Jasper Cash Back Mastercard® is designed to be a premium product for people who need to build credit. When reviewing applicants, Jasper doesn’t focus only on credit history, so it’s possible to be approved with fair credit. And for self-employed applicants, Jasper uses a unique cash flow-based underwriting model that helps you get approved more easily.

But at the same time, the Jasper Cash Back Mastercard still offers a wide range of features and benefits not typically found on cards that are offered to people with credit problems or little credit history. It does all of this with no annual fee and no foreign transaction fees.

Jasper Cash Back Mastercard rewards and benefits

The Jasper Cash Back Mastercard distinguishes itself from its competitors by offering both cash back rewards and a rich selection of cardholder benefits. In fact, many of the travel insurance and purchase protection benefits available with the Jasper Cash Back Mastercard are usually just found on premium rewards cards that require good or excellent credit.

Cash back and referral program

The Jasper Cash Back Mastercard offers all cardholders 1% cash back on all purchases, with no limits. This is rare for cards that are offered to applicants with fair credit. But in addition to the standard cash back, the Jasper Cash Back Mastercard also lets you earn up to a total of 6% cash back by successfully referring others to open accounts.

For each new person you refer to Jasper, who then opens an account, you’ll receive an additional 1% cash back on your purchases for one year. This offer is limited to five people for 5% additional cash back, for a total of up to 6% cash back. The additional cash back only applies to a monthly amount equal to your credit limit. So if your account has a credit limit of $5,000 and you referred five people, only your first $5,000 spent each month would be eligible for the 6% cash back. But still, you could earn up to $300 a month and up to $3,600 per year.

Travel insurance benefits

Premium reward card users know that their card’s travel rewards benefits can be valuable in their own right. Beyond this card’s cash back offers, it includes several travel insurance benefits not often found on cards like this.

The most valuable travel benefit is likely the rental car collision damage waiver. Once common on most credit cards, there’s now a dwindling number of card issuers that offer this benefit as standard, even on their premium travel rewards card. Yet the Jasper Cash Back Mastercard comes standard with this coverage, and all you have to do is decline the optional coverage offered by the rental car agency and use your credit card to pay for the rental. Often, the additional insurance coverage offered by rental car companies costs $15 to $30 per day, so having this coverage for free can save you a bit of money if you travel by rental car a lot.

This card also includes trip cancellation coverage – you can be reimbursed for the unused, nonrefundable portion of your trip if it’s canceled as the result of a covered accident or sickness. Another useful benefit is baggage delay insurance that covers your purchase of clothing and essentials if your luggage is delayed more than four hours while on a covered trip.

And if your luggage is lost or damaged, then you’re covered as well. This coverage is supplemental to the airline’s, but it’s likely that the carrier’s coverage won’t reimburse you for all your losses.

Cellphone protection and purchase assurance

At a time when most people carry a smartphone worth hundreds of dollars, it’s nice to know that you can be covered if it’s stolen or damaged. When you pay for your mobile phone service with the Jasper Cash Back Mastercard, you receive a cellphone protection policy, which is subject to limitations. Purchasing this kind of coverage from your mobile service provider often costs $5 to $15 per month.

The Jasper Cash Back Mastercard also includes a purchase assurance policy that applies to your purchases for 90 days and can reimburse you for losses due to theft or damage. And if you’re simply dissatisfied with a purchase made with your card, you may be protected for 60 days from the date of purchase and eligible for a full refund.

Other perks

Beyond this card’s travel insurance and purchase protection services, it offers a few additional benefits. For example, you have access to Mastercard’s Global Services line that offers 24-hour assistance with lost and stolen card reporting, emergency card replacement and emergency cash advances. This card also includes Mastercard ID Theft Protection services and discounts on the Mastercard Airport Concierge.

To further protect you from cybercrime, it also includes an online monitoring dashboard that serves as a repository of all the personally identifiable information a cardholder wants to monitor. This service tracks and displays cardholders’ risk score, and it provides access to identity protection tips. It’s also the platform for cardholders to respond to identity monitoring alerts. Finally, this card includes an identity theft resolution service that helps you to resolve issues and prevent further damage.

Other Jasper Cash Back Mastercard details

This card offers you a credit limit of up to $5,000, subject to credit approval. The standard interest rate for this card is 15.49% to 24.99% variable APR, based on your creditworthiness when you applied for your account. Like most credit cards, this is a variable APR that’s subject to change with the prime rate. There’s no annual fee for this card, and no foreign transaction fees imposed on charges processed outside the U.S.

Maximizing the Jasper Cash Back benefits

With all of these benefits, it’s up to cardholders to take advantage of them in order to receive the maximum value from this card. First, you’ll want to earn as much possible cash back by referring friends and family members. If this card makes sense for you, then it may make sense for other people in your life. And if you refer people who open an account, you’ll be able to earn additional cash back on all your purchases.

Next, you’ll want to fully use this card’s travel benefits. When renting a car, use your Jasper Mastercard and decline the optional insurance offered by the rental car company. And when you pay for your travel with your card, be sure to keep in mind the baggage loss and delay benefits, as well as trip cancellation coverage.

When shopping, keep in mind the purchase assurance program and even the satisfaction guarantee policy, as both of these can offer you reimbursements if you have problems with what you buy. And you’ll want to quickly switch your mobile phone bills to your card so that your family’s smartphones are covered against theft or damage.

Bottom line

The Jasper Cash Back Mastercard offers a lot more than just cash back. You can vastly increase the amount of cash back you earn through its referral program, plus take advantage of numerous travel insurance and purchase protection benefits. Once you understand all the features and benefits this card comes with, you can decide if it makes sense for your needs.

*All information about the Jasper Cash Back Mastercard has been collected independently by CreditCards.com and has not been reviewed by the issuer. The Jasper Cash Back Mastercard is no longer available through CreditCards.com.