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Last updated on July 16th, 2021
Florida Gators Mastercard
Earn Up to 3% Unlimited Cash Back
- Regular Purchase APR 15.24% to 25.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 15.24% to 25.24% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 25.24% variable with the Prime Rate
- Annual Fee None
- Credit Needed Excellent , Good
- Intro Purchase APR 1.99% for 6 months from account opening date
- Processing Network Mastercard
- No annual fee
- Earn unlimited cash back
- Earn 3% cash back at coffee shops and fast food restaurants, and on ridesharing services
- Earn 2% cash back on gas and restaurants
- Earn 1% cash back on all other eligible purchases
- Intro Purchase APR: 1.99% for 6 months from account opening date
- Regular Purchase APR: 15.24% to 25.24% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 1.99% for 6 months from account opening date
- Balance Transfer APR: 15.24% to 25.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 5% of the amount of each balance transfer, whichever is greater
- Cash Advance APR: 25.24% variable with the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each balance transfer, whichever is greater
- Penalty APR: 27.24% variable based on the Prime Rate
- Foreign Transaction Fee: 1% of each transaction in U.S. dollars. 2% of each transaction made in currencies other than U.S. dollars
- Late Payment Penalty Fee: Up to $40
At a Glance
The Florida Gators Mastercard® from Commerce Bank lets University of Florida fans bring The Swamp everywhere they dine, shop, or travel. A cash back card designed for the Gator Nation, it offers up to 3% cash back with unlimited rewards, an introductory APR, and no annual fee.
Ideal for Those Who:
- Are diehard Florida Gators fans and want to show off their favorite NCAA team or alma mater
- Want to earn unlimited cash back from everyday purchases
- Would like a credit card without the added cost of an annual fee
- Regularly use rideshare services, visit coffee shops, and/or enjoy fast food often
- Would like flexibility when it comes to redeeming cash back, and want a variety of rewards to choose from
Florida Gators Mastercard® Review
The Florida Gators Mastercard® is a convenient cash back card that rewards the purchases customers make every day. It showcases the Florida Gators, alongside unlimited rewards, a competitive APR, and flexible redemption options.
How to Earn Cash Back Rewards with the Florida Gators Mastercard®
3% Cash Back on Coffee, Fast Food, and Rideshares: Cardholders will earn cash back at a rate of 3% per $1 when they use their card for fast food, coffee, and rideshares. Each time you swipe your card in one of those categories, you’ll see 3X the rewards. To maximize this beefed-up cash back rate, program your Gators Mastercard into a digital wallet, or the apps you use for rideshares or Starbucks. Syncing it to your favorite apps, or adding it to a mobile wallet, is a good way to get the most out of these rewards since many apps can make payments without a physical credit card.
2% Cash Back on Gas and Restaurants: Purchases made at gas stations and restaurants earn 2% cash back. Cardholders can chomp their way through a meal at their favorite restaurant and earn 2X the rewards just for showing their UF spirit. This also applies at gas stations, so whether you’re filling the tank on gameday before you tailgate or you’re filling up for your daily commute, you’ll earn extra cash back.
1% Back on Every Other Purchase: Cardholders will earn cash back at a rate of 1% for all other eligible purchases with their card. Whether you buy a Gatorade at the gym to rehydrate or a widescreen television, you’ll earn cash back.
Transactions that do not qualify for cash back rewards include cash advances, balance transfers, traveler’s checks, convenience checks, gambling, and money orders.
How to Redeem Rewards from the Florida Gators Mastercard®
There are several options for cardholders who wish to redeem the rewards they’ve earned from the Florida Gators Mastercard. Earned as a cash back percentage of every purchase, each percentage point can also be converted to 1 reward point. This expands the ways they can be redeemed, and it also means that purchases on coffee, fast food and rideshares earn the equivalent of 3 points per $1. Similarly, gas and restaurant purchases earn 2 points, and 1 point is earned for everything else. Cardholders can redeem their points for a variety of rewards, including:
- Cash back in the form of a statement credit. A minimum of 2,500 points is required to redeem cash back.
- Airline ticket credits from participating airlines
- Merchandise from popular retail brands
- Gift cards to hundreds of online retailers
Rewards do not expire for three years, so once they are earned and posted to the cardholder’s account, there is time to redeem them. While this makes it easy to redeem rewards for smaller items, a larger redemption may take a bit of planning, since accruing enough points or cash back for a large item can take some time and eventually run the risk of the points expiring.
Competitive Interest Rates and Fees
The Florida Gators Mastercard® does not charge any annual fees that might offset the savings from cash back earned by using it, which immediately lessens the cost for cardholders. A competitive interest rate for purchases and balance transfers, which sits just below the average interest rate for cardholders with good credit, also helps cardmembers save on potential interest charges.
The Florida Gators Mastercard® is accompanied by a unique introductory APR period. Cardholders can enjoy an interest rate of 1.99% for both purchases and balance transfers for the first six billing cycles after opening their account. This introductory APR period will catch the eye of anyone who is planning to make a large purchase using their card immediately after opening an account. A large purchase like a new couch, a new mattress, or a computer will earn less interest if it’s paid off during the introductory APR period. This intro APR will also appeal to individuals who hold debt on another credit card and wish to save money by transferring their balance for a lower rate.
Although this card does not offer an APR of 0% during this introductory period, an interest rate of 1.99% can still mean significant savings. When compared to the standard APR that applies to an existing balance on another card, those savings can really add up. That said, an introductory APR of 1.99% makes the most sense for cardholders who have a smaller balance to pay down. A large balance would incur higher interest fees.
Manage your Florida Gators Mastercard®
It’s easy to create and log into your online credit card account. Accounts allow cardholders to monitor their spending via a free online portal that provides uninhibited access to the following:
- Adding an authorized user
- Setting up and viewing alerts about suspicious card activity
- Setting up autopay, so that you never miss a payment thanks to recurring payments
- Cash Back Access – view, and redeem your rewards points for cash back and more
- Special Connections™ – Use your credit card to access cash from your other accounts at the ATM or in-store
- Sign up for E-Statements
Should You Apply for the Florida Gators Mastercard® from Commerce Bank?
The Florida Gators Mastercard® is a lucrative cash back credit card that offers some great opportunities to earn up to 3% in cash back rewards. Along with a competitive APR, it does not charge an annual fee, and it features multiple ways to earn rewards from everyday spending while showing off your support of the Florida Gators. While it’s certainly a great pick for UF alumni and Gators fans across the country, is it the right fit for your wallet? Before applying, cardholders might want to investigate all their options.
Although an intro APR of 1.99% is definitely a great way to save money for six billing cycles, this rate doesn’t compete with the introductory interest rate of other credit cards that offer one. Many popular cash back credit cards like the Cash Magnet® Card from American Express feature a longer introductory APR period, with an interest rate of 0% rather than nearly 2%. While this doesn’t represent a significant difference, it can certainly add up. Saving money by taking advantage of a different card’s 0% introductory APR may be well worth the extra research to find a card that matches your needs, depending on your budget.
The length of the introductory APR is also something to consider. Six months offers a leg up on savings, but there are some cards that feature an introductory APR period that can be more than twice as long as that offered by the Florida Gators Mastercard. The Wells Fargo Cash Wise Visa® Card, for example, offers an introductory purchase APR of 0% for 15 months.
Another factor potential cardholders should consider is whether or not there is a signup bonus to accompany their new credit card. The Florida Gators Mastercard® does not offer a signup bonus. However, some cards like the Discover it® Chrome Gas & Restaurants offer comparable rewards with a focus on gas and dining, but also feature a special signup bonus. Discover will match all the cash back each cardholder earns in their first year – an added incentive to use the card for everyday expenses.
Ultimately, the Florida Gators Mastercard® from Commerce Bank will appeal most to Gators fans and University of Florida alumni who want to earn unlimited cash back rewards.