People’s United World Mastercard Real Rewards Card

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Last updated on May 31st, 2022


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At a Glance

The People’s United World Mastercard Real Rewards Card is a rewards credit card that is best served as a cash back card for everyday use. The card earns 1.5X points on every purchase with no cap on the total number of points earnable. New accounts also benefit from a trifecta of bonuses: 2,500 points after making a first purchase and two 0% intro APR periods – one for balance transfers and one for purchases.

Ideal for Those Who:

  • Want an everyday credit card that offers exceptional cash back rewards
  • Have a big purchase they plan to make soon
  • Have a small existing credit card balance they want to pay down over the next six months
  • Don’t want to pay an annual fee

People’s United World Mastercard Real Rewards Card Review

The Real Rewards World Mastercard from People’s United Bank is a no annual fee rewards and cash back card that more than holds its own with the big boys.

How to Earn Points

The People’s United Real Rewards World Mastercard earns a healthy amount of points with every purchase. The card earns a flat-rate 1.5 points per dollar spent, with the points added to the cardholder’s account at the end of every billing period. There are no limits to the number of points an account can earn.

The rate of 1.5X points is the same found with the Chase Freedom Unlimited Card or the Capital One Quicksilver, both of which are exceedingly popular cash back cards that also charge no annual fee. Since the best redemption option with Elan Rewards (the rewards program of People’s United Bank) is cash back, this card more than holds its own with the big boys at the unlimited rewards table.

2,500 Bonus Points

New accounts receive one of the most straightforward bonuses possible with the World Rewards from People’s United. By merely making the first purchase, cardholders receive 2,500 bonus points. The only requirement with this bonus is that balance transfers and cash advances do not count towards the bonus, which is the case with every other rewards card.

Value of Elan Points

Points in the Elan Rewards Program have a cash value of ten cents ($0.1) per point, which is a very healthy margin. This valuation, based on the cash back redemption for points, places the value of the sign-up bonus at $25.

This value, of course, means that to get the most out of the bonus a new account should spend as little as possible. Fortunately, even a pack of gum earns the points bonus. Really, however, the $25 value can be used to off-set the cost of something a little more exciting, such as new headphones, a book, or even a ticket to the movies.

How to Redeem Points

Redeeming points with People’s United Bank is a straightforward process. All a cardholder needs to do is logon to the People’s Rewards Portal and browse through reward options, or call cardmember services at 1-888-229-8864.

As with other reward programs, there is a broad array of options from which members can select. These include cash back as statement credits, travel (including flights, hotel stays, rental cars, and more), merchandise from leading retailers, and gift cards.

Points are valid for five years from the date earned, which is a reasonably long period, meaning cardholders can amass a hefty haul of points and get the big reward they’re seeking.

0% Intro APR

Like the Platinum Mastercard, the Real Rewards World Mastercard enjoys an interest-free introductory period. In this case, new accounts enjoy 0% intro APR for the first six months on both purchases and balance transfers. The fact that the card earns 1.5X points on purchases makes the 0% intro APR period for purchases very enticing, as it can help build up a nice nest-egg and pay down the balance over the next half of the year.

Regarding balance transfers, however, the intro offer is more confusing. Paying down transferred balances will vary in terms of time based on individual circumstances, but unless possible to pay off entirely within the six-month window, the best bet is to go with eh Platinum Card instead.

Other Features

Other features of the card include Zero Fraud Liability, 24/7 fraud monitoring services, and Mastercard extended warranty manager. The card also offers integration with mobile payment platforms, such as Apple Pay.

Should You Apply for the People’s United Real Rewards World Mastercard?

The People’s United World Mastercard Real Rewards Card is an excellent option for those who prefer to bank local but still want to earn the cash back and rewards points the larger issuers offer at the same time. The card compares favorably with 1.5% cash back credit cards from lenders like Chase and Capital One, all the while maintaining the sense of community that comes from dealing with a hyper-regional bank like People’s United.

The unlimited 1.5X points are further boosted by a simple to achieve 2,500 bonus points for making a first purchase (worth $25), plus 0% intro APR on purchases and balance transfers for six months.

Sure, the People’s United Real Rewards Card doesn’t offer anything you can’t find in the rewards program of the Chase Freedom Unlimited, but thanks to the smaller size of People’s United Bank, it provides the customer service and support of which larger issuers can only dream.

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