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Last updated on May 12th, 2021
Quorum RateWise Mastercard®
Low APR for Balance Transfers, Purchases, and Cash Advances
- Regular Purchase APR 7.9% to 18% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 7.9% to 18% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 7.9% to 18% variable based on creditworthiness and the Prime Rate
- Annual Fee None
- Credit Needed Good , Fair
- Processing Network Mastercard
- Features Tap & Go contactless technology; compatible with digital wallets
- No annual fee and no balance transfer fees
- Low cash advance fee with a $25 cap
- Same APR for purchases, cash advances, and balance transfers
- Regular Purchase APR: 7.9% to 18% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 7.9% to 18% variable based on creditworthiness and the Prime Rate
- Cash Advance APR: 7.9% to 18% variable based on creditworthiness and the Prime Rate
- Cash Advance Transaction Fee: Either $5 or 2% of the amount of each cash advance, whichever is greater (max $25)
- Foreign Transaction Fee: 1% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $25
- Return Payment Penalty Fee: Up to $25
At a Glance
With no annual fees or balance transfer fees, a competitively low APR and low cash advance fees, the Quorum RateWise Mastercard® is a great no-frills credit card offer for anyone looking to enjoy daily savings as they build their credit.
Ideal for Those Who:
- Want a card with no annual fee and no balance transfer fees
- Want a low APR starting at 10.15% up to 18.00%, based on your creditworthiness
- Want the perks that come with being a Mastercard® cardholder
- Want a card with contactless technology
Quorum RateWise Mastercard® Review
The Quorum RateWise Mastercard is a pared-down credit card offer from Quorum Federal Credit Union that features a low interest rate that couples with great perks from Mastercard® to entice anyone who would like to build their credit and save beaucoup bucks. A competitive, low APR for both purchases and balance transfers weighs in at between around 10% to 18% based on your creditworthiness and variable with the market based on the Prime Rate, which is great if you’re going to transfer a balance or use this card to pay down a large purchase. There are no annual fees or balance transfer fees, which will save even more money even as you build your credit. The fee for cash advances is capped at $25, and you’ll be able to take advantage of the same low APR for purchases, cash advances, and balance transfers.
The RateWise Mastercard from Quorum is accompanied by a suite of perks and benefits from Mastercard. The peace of mind that comes with knowing you are not liable for any fraudulent purchases is just the tip of the iceberg; in addition to zero liability, you’ll enjoy extended warranties, price protection and purchase assurance, ID Theft resolution services, Tap & GO™ contactless technology, and more. For those who wish to bring their card with them as they travel, Mastercard® features several great perks. In addition to emergency card replacement and emergency cash advances, you’ll enjoy access to, Mastercard Airport Concierge™, trip cancellation insurance, MasterRental insurance for your rental car, MasterAssist Travel Assistance services and roadside.
Should You Apply for the Quorum RateWise Mastercard®?
The Quorum RateWise Mastercard® is a great option for Quorum members who want a great rate and little else. The card offers the credit union’s lowest rate – one of the best to be found nationwide. Still, that rate is only exceptional for those with an excellent credit score. around 800. Anyone with a good credit score will probably get much more value from the cash back or rewards options from the credit union. The interest rates might be higher (only slightly), but they offer unlimited rewards with every purchase – for no annual fee.