There’s also a great perk waiting for new cardholders who apply for the Jasper card via your referral and are approved: New referred customers get a 1% boost to their cash back rate for their first 12 months, so they’ll start off at a 2% flat cash back rate on all purchases. While this rate is only valid for a year, it could make the Jasper card a better short-term option than popular flat-rate cash back cards like the Citi Double Cash® Card and the Capital One Quicksilver Cash Rewards Credit Card, although it might be difficult to find 5 friends to refer. This means that you can work your way up to 6% cash back by successfully referring five people to the card. You can now increase your cash back rate by an additional 1% back for every successful referral, instead of the previous 0.5% back per referral, up to the 6% cash back rate. The good news is that if you can get successful referrals, the card may help you work your way up to that 6% cash back rate quickly. While it’s by no means a deal-breaker on its own, this lack of flexibility limits the Jasper card’s appeal as a cash back card. The Jasper card’s terms also note that the maximum amount of cash back you can earn is determined by your credit limit – so if you a have a $5,000 limit and a 6% cash back rate, you can only earn a maximum of $300 back each month, even if you pay off your bill early. While this may look good on paper, the utility of this referral program will obviously depend on how many people you know who need a starter credit card and decide the Jasper card is the best fit. For every successful referral, you’ll earn 1% more cash back for one full year. Then, to earn a higher cash back rate, you need to refer friends and have them sign up and activate their own Jasper card. Here’s how it works: All cardholders start off earning 1% cash back for eligible purchases, which is the bare minimum you should expect to earn with a cash back card. However, earning rewards isn’t as easy as you might think, and it may be tricky to calculate exactly how much cash back you’ll earn with the Jasper card, especially if you’re new to rewards cards. On the surface, the Jasper card offers quite a high potential cash back rate for a no annual fee card – as much as 6% cash back***. That said, the card’s rewards are not as impressive as they may seem at first glance since reaching them relies on a referral tier system that may prove impractical for the average cardholder. While it’s by no means the best cash back card on the market, if a fair credit score has you facing limited card options, the Jasper card could be useful as a starter card until you can move on to more lucrative offerings. The card charges no annual fee, offers simple flat-rate rewards and gives you a chance to boost your rate with successful referrals. If you’re new to cash back credit cards and have at least fair credit, the Jasper Cash Back Mastercard could be a decent starting point on your rewards journey.
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