Jasper Card Review: Once a Standout, Now Lost in the Crowd

Launched as an option for people with no U.S. credit history, it has morphed into a cash-back card with a pedestrian rewards rate (unless you're a hardcore Jasper evangelist).
By Melissa Lambarena 

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Our Take

2.9

NerdWallet rating 
The bottom line:

When it was available to those with fair credit (a Vantage Score of 640 or higher), this card was worth exploring as a low-fee option. But if you have good credit, you’re likely to qualify for better offers.

Jump to: Full Review
Jasper Mastercard®
Jasper Mastercard®
Annual fee
$0*
Regular APR
15.49%-24.99% Variable
Intro APR
N/A
Rec. credit score
690-850 (Good - Excellent)

Quick Facts

Pros & Cons

Pros

  • No annual fee*

  • Qualify with limited/bad credit

  • Reports to the three major credit bureaus

  • Earns rewards

  • No foreign transaction fees

Cons

  • Longer approval process

  • Mobile-only account access

Alternate Pick: Earn up to 2% cash back
Discover it® Secured Credit Card
NerdWallet rating 
Discover it® Secured Credit Card
Earn rewards while building credit

This card requires a minimum $200 security deposit upfront, but it offers rewards and a path to upgrade to an unsecured card. The annual fee is $0. A Social Security number is required.

Read our review

Compare to Other Cards

NerdWallet rating 
NerdWallet rating 
NerdWallet rating 
Annual fee

$0

Annual fee

$0

Annual fee

$0

Regular APR

18.24%-28.24% Variable APR

Regular APR

16.24%-27.24% Variable APR

Regular APR

19.24%-27.99% Variable APR

Intro APR

0% intro APR on Balance Transfers for 18 months

Intro APR

0% intro APR for 15 months on purchases and balance transfers

Intro APR

0% intro APR for 15 months on purchases and balance transfers

Recommended Credit Score
Recommended Credit Score
Recommended Credit Score
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Full Review

» Update

This story is out of date. The Jasper Mastercard® has been discontinued and is no longer accepting applications.

The Jasper Mastercard®, issued by WebBank, falls short on value when compared with other credit cards in its class.

Launched in 2018, under the name CreditStacks, it originally targeted working professionals who were new to the U.S. and lacked a credit history. The startup company behind the card broadened its focus in mid-2020 to professionals with no credit history, but the card has since shifted its underwriting. As of summer 2021, the card requires a Social Security number and a traditional hard credit inquiry. It was once a valuable alternative credit card, but as a traditional credit card, it doesn’t hold up to the competition.

Back when it was targeted at people with fair credit (a Vantage Score higher than 640), its ongoing rewards rate of 1% on all purchases was attractive. But those with hood credit can easily find stronger rewards on other credit cards.

Jasper Mastercard®: Basics

Card type: Cash back.

Annual fee: $0*.

Rewards: At least 1% cash back on every eligible purchase. (It's possible to boost this rate up to 6% back, but you have to refer the card to friends. More on that below.)

APR: The ongoing APR is 15.49%-24.99% Variable.

Penalty APR: None.

Foreign transaction fee: None.

Other perks:

  • Travel benefits, including a collision damage waiver for rental cars, insurance for lost or damaged luggage, travel accident insurance and trip cancellation/interruption reimbursement.

  • Safety benefits and other perks, including MasterCard ID Theft Protection and cell phone protection.

Why you're better off passing on the Jasper Mastercard®

Mediocre incentives

With the Jasper Mastercard®, you'll earn at least 1% back on all eligible purchases. You can increase that rate up to 6% back, but it isn't easy. On top of the base rate of 1%, you'll get an additional 1% back (up to 6% for the year) for each successful referral to the card. Essentially, you'd only attain 6% back if you had five friends who wanted and were approved for the card in the same year. Any successful referrals will also earn an extra 1%, for a total of 2% back, for a 12-month period. Terms apply. Rewards redeem for statement credit.

It's a decent offer if you have a lot of friends who will follow your recommendations, but you may qualify for bigger baseline rewards — that don't hinge on referrals — on other credit cards.

NerdWallet's list of best credit cards can also offer you some ideas.

A potentially long approval process

The approval timeline for the majority of Jasper Mastercard® applications is currently two to three business days. Contrast that with an application for a credit card from a major issuer, which will typically approve or deny an application within minutes. For a more streamlined process, you can apply for a credit card with an established issuer.

Mobile-only account access

With the Jasper Mastercard®, you can only manage your account via the Jasper app. If you need to access your account via a computer, you'll need to look for a different credit card that can offer that user experience.

Is the Jasper Mastercard® right for you?

The Jasper Mastercard® was a decent option for people who have fair credit. But those with good credit or better will find better options.

Methodology

NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.