Revamped REI Co-op Card: 5% Back at REI, 1.5% Elsewhere

The new version of this card offers elevated rewards on everyday purchases, plus a possible $50 statement credit.

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Outdoor retail giant REI Co-op has announced a revamped version of its store credit card for co-op members.

The REI Co-op Mastercard, issued by Capital One, earns 5% back on REI purchases and donations made to the REI Cooperative Action Fund, plus 1.5% back on everything else. You redeem rewards toward REI purchases, including trips booked with REI adventure travel.

Cardholders can also take advantage of these valuable perks:

  • A one-time $100 REI gift card after you make your first purchase outside of REI within the first 60 days of account opening.

  • An annual $50 statement credit when you use your card to book an REI Co-op Experience.

  • Double rewards on REI purchases during a yearly special event period.

Cardholders who have the previous version of this card, issued by U.S. Bank, will eventually be transitioned to the new Capital One card but can continue using their existing card for now and earning the updated rewards.

Unlike the outgoing version of this card, the current REI Co-op Mastercard will not earn 2% back on mobile wallet purchases, but you will receive your rewards as you earn them, rather than once a year. All cardholders can view their rewards through their REI accounts.

The REI Co-op Mastercard has a $0 annual fee, but you do have to be a co-op member to apply. You can become a lifetime member of REI by paying a one-time fee of $30. Even without the credit card, REI loyalists can easily make up for this fee through membership perks like free standard shipping, access to member-only sale events and, normally, a member reward equal to 10% of what you spent the year before. Stacking that member reward with the REI Co-op Mastercard’s 5% back, cardholders can earn a massive 15% back on most purchases.

If you prefer a plush bed over sleeping under the stars, you’ll likely get more value out of a general cash-back credit card with more flexible rewards. But if you live by REI’s motto to #OptOutside, the new REI Co-op Mastercard could be the perfect adventure partner.

Get more smart money moves – straight to your inbox
Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money.