Diamond Resorts World Mastercard®
2,500 Bonus Points for Your First Purchase or Transfer
- Regular Purchase APR 15.74%, 19.99% or 24.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 15.74%, 19.99% or 24.99% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 25.24% variable based on the Prime Rate
- Annual Fee None
- Credit Needed Excellent
- Intro Purchase APR 0% for 6 months from account opening date on timeshare down payments
- Processing Network Mastercard
- 2X points on purchases from Diamond Resorts
- 1X points on all other net purchases
- 500 points for every $2,000 spent
- Intro Purchase APR: 0% for 6 months from account opening date on timeshare down payments
- Regular Purchase APR: 15.74%, 19.99% or 24.99% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 15 months on transfers made within 45 days from account opening date
- Balance Transfer APR: 15.74%, 19.99% or 24.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $5 of 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 25.24% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
At a Glance
The Diamond Resorts Credit Card from Mastercard® could be just what you need if you’ve dreamed about purchasing your own Diamond Resort timeshare. Even if you’re just a frequent timeshare renter, this card could help you get more out of your Diamond membership. You’ll earn points each time you stay, as well as for everyday purchases to invest in future vacations.
Ideal for Those Who:
- Prefer to book vacations with Diamond Resorts
- Are enrolled, or plan to enroll in, a membership with Diamond Resorts Club
- Plan to put a down payment on a Diamond Resort timeshare to take advantage of the intro APR
Diamond Resorts Credit Card Review
The Diamond Resorts World Mastercard® is one of a few co-branded hotel credit cards designed with specific customers in mind. Those who frequent Diamond Resort properties can earn 2X points when they use the card to book their stays and cover other on-site expenses. On top of that, cardholders can earn 1X points on all other purchases, and an additional 500 points for every $2,000 spent. While it’s not possible to earn points on Diamond timeshare down payments, the 0% introductory APR can come in handy.
How to Use the Diamond Resorts World Mastercard®
Also known as the Diamond Resorts International World Mastercard, this credit card helps you earn 2X points at Diamond Resorts properties all over the world. You also get 1X points on all other purchases when you use the card, whether it’s for groceries or entertainment. On top of that, the card awards you an ongoing spending bonus of 500 points for every $2,000 you spend.
However, it’s important to note that you can’t earn or redeem points on a timeshare down payment. This is an interesting condition considering that your largest purchase with the card would likely be the down payment on a Diamond Resorts timeshare. On the other hand, you do get 2,500 sign up bonus after your first purchase or balance transfer, and there’s no annual fee to worry about.
Redeeming Diamond Plus Points®
Since this is a Barclays Diamond Resorts credit card, you can redeem points for travel through Loyalty Edge on BarclaysUS.com or by calling customer service. You can book flights and car rentals using your rewards as long as you have at least 10,000 points saved up; this is equal to about $75 when redeemed. Fortunately, your rewards are unlimited and never expire, so you can earn at your own pace.
To cash in your points sooner, you can also redeem them for gift cards, or statement credits to cover certain travel purchases. The following list outlines the minimum points required to redeem and their value:
- 2,500 points = $25 credit toward purchases at Diamond Resorts of $25+
- 5,000 points = $25 gift cards from participating merchants
- 6,667 points = $50 credit toward flights and car rentals of $50+ booked outside of Loyalty Edge
You’ll need to apply for a statement credit within 120 days of the purchase to use your points. If needed, you can use a statement credit for a partial payment as well. However, you’ll get credits in increments of $25 and $50 respectively.
Another aspect of redemption to keep in mind is Diamond Flexibility. This is a benefit you can take advantage of as long as you’re a Diamond Resorts Club member. If you don’t have enough points saved up to book your reservation, it allows you to “rent” the additional points you need for a 10% rebate. Not much information is provided about this, so you’ll need to contact Diamond Resorts for more insight.
Unlike most 0% intro APR cards, the Diamond Resorts International World Mastercard is picky about the details. In fact, the 0% introductory APR for purchases only applies to down payments on Diamond Resorts timeshares. Moreover, it’s only available for the first 6 months.
The 0% introductory APR for balance transfers is a little more traditional. It lasts for 15 months, but you can only apply it to balance transfers made within 45 days of the account opening. These strict requirements may not matter if you plan to purchase a timeshare and pay it off quickly, or if you’ve already purchased a timeshare and plan to transfer the remaining balance.
Should You Apply for the Diamond Resorts Credit Card?
The Diamond Resorts Mastercard can offer a few unique benefits for avid fans of Diamond Resorts properties. In particular, the 2X points and Diamond Flexibility benefit can make it easier to save on future stays. However, since you can’t earn any points on down payments or balance transfers, you’ll likely benefit more from using a different card to secure your vacation spot. That way, you can take advantage of longer intro APRs and earn at least 1X points on this large purchase.
A great alternative that comes to mind is the Wells Fargo Propel American Express® Card, which offers a 0% introductory APR for 12 months on purchases and balance transfers. This means you don’t have to rush to pay your timeshare down payment off in 6 months. More importantly, the card offers 3X points on gas, dining, streaming services, and travel – which includes timeshares. Just keep in mind that balance transfers don’t qualify for these rewards, so to earn points on the down payment you’ll need to make the purchase with this card.
The main benefit you’ll receive from the Diamond Resorts International Mastercard is the ability to earn and redeem points specifically on your Diamond Resort stays. But unless you’re spending several vacations a year at one or more of these properties, it’s probably best to look elsewhere for your rewards.