Credit One Introduces “Wander” Credit Card With Unique Rewards

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Credit One Introduces “Wander” Credit Card With Unique Rewards

For those looking to enjoy the majesty of nature for these final few weeks of summer or who plan on experiencing other entertainment options throughout the year, Credit One has just introduced a new rewards credit card option: the Wander card.

With the Wander card, customers can earn 5 points per dollar spent on eligible recreational and amusement park purchases. This category includes national parks, theatrical productions, tourist attractions, museums, aquariums, zoos, and professional sporting events. Additionally, cardholders will earn 3x points on eligible restaurant purchases and 3x on lodging purchases, including campgrounds. All other purchases will earn 1x points. These points can then be redeemed for statement credits (at a rate of 1¢ per point, redeemed in increments of 1,000 points), gift cards, merchandise, and more. Of note, the card does carry a $95 annual fee which is not waived for the first year.

In terms of a welcome bonus, the Wander card has a unique and very specific offer. Currently, new cardholders can earn an $80 statement credit when they use their card to purchase a National Park Pass in person or online. Note that this offer excludes any processing fees that might apply to the purchase. To claim this offer, the purchase of the pass must be made within one year of the Wander card account being opened.

The arrival of the Wander card comes as Credit One has been aggressively expanding its portfolio — mainly focusing on co-branded cards. Most recently, the bank partnered with Six Flags to introduce the Credit One Bank Six Flags Rewards Visa. Incidentally, with the Wander offering 5x points at amusement parks, it’s likely that this latest offering would best the  3x points that the Six Flags Rewards Visa offers on all Six Flags purchases (although the latter card has no annual fee for those with “excellent credit” and a $39 annual fee for those with “average credit”). Other co-branded cards in Credit One’s line-up include offerings from the WWE, NASCAR, and the NHL’s Las Vegas Golden Knights.

Overall, while Credit One might not have the best reputation among credit card enthusiasts, the Wander card is a pretty intriguing product. In terms of what’s good, the 5x category is fairly broad (albeit a bit nebulous), potentially proving lucrative to those who frequent amusement parks and other live entertainment venues. Meanwhile, the 3x restaurant and lodging categories are decent but are matched by some no annual fee options. On that note, moving to the Wander card’s drawbacks, the $95 annual fee isn’t terribly high but could still be a turn-off to some. Finally, while Credit One deserves props for creativity, the limited scope of the welcome offer coupled with the low value — that doesn’t even cover the annual fee — definitely does not impress. With all of that said, depending on how applicable that 5x category turns out to be, this could be an interesting addition to the right customer’s wallet.

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Author

Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded DyerNews.com in 2015 to focus on personal finance and the emerging FinTech markets.

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