|by Mr Credit Card|
Summary – The Motley Fool Credit Card has got several versions. There is the cash back version and the reward points version. With the rewards point version, you can choose to get a Visa, Mastercard or the American Express version. Let’s look at this card in greater detail.
Cash Back Version – With the cash back version, cardholders can earn 1% cash rebates for every dollar that you spend on the card. You can earn unlimited cash rebates. Your rebates will be sent to you once a year automatically.
Points Version – The Motley Fool credit card also allows you to earn points. Their cards are actually issued by Bank of America, hence the reward program is actually the BOA’s WorldPoints program. You can earn one point for every dollar that you spend on the card. You can choose to get either a Visa, Mastercard or American Express version of the Motley Fool credit card.
Fees and Rates – There is no annual fee for all of the above cards. New cardholders get a 0% introductory offer for balance transfers for 12 months. The rates varies among the different cards.
Verdict – The Motley Fool credit card is obviously targeted at Motley Fool fans. But is the card any good. For the reward points version, I would say that it depends on what you want to use the rewards for. If you intend to earn reward points for travel, then I would suggest getting a card like the Discover Miles Card, which allows you to book your own travel itinerary and use the miles you earn to redeem for it. This allows you to avoid all the restrictions of WorldPoints booking system. If it is gift cards or merchandise that you are after, then I would suggest that you consider the Discover More Card because it has more gift card partners than any other program. You can also shop at over 100 retailers online and get 5% to 20% discounts. If you are really a fan of Motley Fool, then I guess that it is not a bad card though there are better reward cards around. You also can choose between having a Visa, MasterCard or Amex version.
For the cash back version, I would give it a thumbs down because all you can do is to earn 1% cash rebates. The better cards on the market allow you to earn more than 1%. To find out which is the best cash back card for you, simply fill in your expenses below and the calculator will show you the best card based on your spending patterns.
Enter your approximate monthly spending into the calculator below to see how much you can earn per month if you’re using the Motley Fool Credit Card versus other cards!