Jasper Rewards credit card: Up to 6% back if you can constantly refer people….

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The Jasper Rewards credit card is out with an offer to get a paltry 1% cash back on everyday spend, but the angle is that you’ll get an extra 0.5% for 12 months for each person you successfully refer (who applies, is approved, and activates their card) up to 6%. I can’t see this being a good fit for the vast majority of people.

The Offer & Key Card Details

  • The Jasper Rewards credit card is offering 1% cash back plus 0.5% for 12 months for each person you successfully refer up to 6% cash back
  • Card ordinarily earns 1% back on all purchases and boosts from referrals each last for 12 months
  • No annual fee
  • Link for more information / to apply (not a referral / affiliate link)

Quick Thoughts

This card just doesn’t make sense for anyone but an “influencer” of some sort. That’s because it is just a 1% cash back card (which is awful) unless you pick up referrals. Each referral adds half a percent cash back for 12 months, so you could get up to 6% cash back with 10 referrals each year. I’m not sure who is going to refer 10 people to this card year after year, but maybe I could see it being useful for one year for someone from a big family where everyone applies and then shares one account for purchases (I don’t see any fee for authorized users?). Even in that case, that group should easily come out ahead by each opening a card with a strong new card bonus when you consider that the maximum credit limit on the Jasper card is $5,000, so the maximum total cash back you can earn per year with 10 successful referrals is $3,600.

Interestingly, the card terms specifically call out manufactured spend and say that they unredeemed cash back you have accrued or would have earned via MS will be forfeited.

Forfeiture

In the event that, as determined by Us in Our sole discretion, (1) ​​We chooses to close Your account due to violations of the Card Holder Agreement, (2) You engage in Manufactured Spend transactions or (3) You otherwise misuse, abuse or game the Cash Back Program, You will forfeit any Unredeemed Cash Back that You have accrued and any Cash Back that You would have earned had the event not occurred. Also, in such an event, You will become ineligible to earn further Cash Back until further notice from Us.

The terms also list the purchase of gift cards or prepaid cards as ineligible transactions for cash back.

Overall, I just don’t think this card is a good fit at all for many people. I can’t imagine that they will really block all gift card purchases from earning cash back, but I have no idea how tightly WebBank will draw the line and can’t see it being worth new cards for everyone in your family for the boost here.

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