Is the Diamond Resorts International Mastercard worth it? | March 2018

Review: Diamond Resorts International Mastercard – March 2018

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  • Get this card if… you often stay at Diamond Resorts or buy timeshares from the company.
  • Pick something else if…you want general travel rewards.
  • Recommended good to excellent credit score of 680 to 850.
Product NameDiamond Resorts International® Mastercard®
Intro APR for Balance Transfer0% Intro APR for first fifteen billing cycles (with whichever is greater, $5 or 3% balance transfer fee)
Balance Transfer Rate (not intro)16.24%, 20.24% or 23.24% variable
APR for Purchases ( Purchase Rate )16.24%, 20.24% or 23.24% variable
Annual fee$0
Cash Advance Rate26.49% variable
Card TypeMastercard
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 23 days
Returned Payment Fee$37
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Minimum Interest$0.50
Minimum Credit ScoreFair (660-699)
Minimum Age18 years of age
Annual fee$0
Returned Payment Fee$37
Late Payment Fee$37
Cash Advance Feewhichever is greater, $10 or 5%
Rewards ProgramBarclaycard Rewards
Bonus Points on Sign-up2,500
Rewards Points per $ spent (VISA/MC)2
Points ExpiryNever

The basics

This is the card for you if you’re a regular at Diamond Resorts, which owns nearly 400 vacation destinations worldwide. You’ll like the 2x points for Diamond Resorts spending and 1x points on everything else. And you’ll especially like the card’s $0 p.a. annual fee.

Points are flexible, which means you can redeem them for rewards like statement credit, travel purchases and gift cards. They’re worth an industry-standard 1% when you redeem them for statement credit. However, they bring a disappointing rate for travel — redemption starts at 6,667 points for $50 in statement credit.

Signup bonus, intro APR and bonus points

The card’s signup bonus is a relatively low 2,500 points, worth $25. Though that’s not a huge haul, it’s easy to earn — just make one purchase with your card.

You’ll earn even more points through regular spending. For every $2,000 in purchases, you’ll earn 500 Diamond Plus Points. It’s just too bad Barclaycard caps these points at 5,000.

When you use the card to pay for a Diamond Resorts down payment, you’ll receive 0% APR for six billing cycles on the purchase. It’s a decent deal if you purchase Diamond Resorts timeshares from time to time.

Should you get the Diamond Resorts International Mastercard?

When evaluating this card, you’ve got a relatively straightforward decision. If you’re a frequent guest at Diamond Resorts, you could earn many points through your vacation spending.

If you’re not, pass on this card. You’re better served by general travel cards like the BankAmericard Travel Rewards and the Barclaycard Arrival Plus.

The perks

  • SIGNUP BONUS: 2,500 bonus points.
    After your first purchase, you’ll earn 2,500 Diamond Plus Points.
  • REWARDS: Earn points on all purchases — and more on Diamond Resorts purchases.
    On all purchases, you’ll earn 1 Diamond Plus Point per dollar you spend. On Diamond Resorts purchases, you’ll earn 2 Diamond Plus Points per dollar you spend.
    Timeshare down payments, interest, finance charges, balance transfers, convenience checks, cash advances and credit fees don’t earn points.
  • INTRO APR: On Diamond Resorts down payments.
    When you make a down payment for a Diamond Resorts timeshare, you’ll receive 0% APR on the purchase for six billing cycles.
  • Bonus points at spending milestones.
    For every $2,000 you spend, you’ll earn 500 Diamond Plus Points. You can’t earn points for down payments, and the maximum points you can earn is 5,000.

What can I use points for?

You can redeem your points for a variety of rewards.

  • Statement credits toward Diamond Resorts purchases. Redemptions start at 5,000 Diamond Plus Points for a $50 statement credit.
  • Statement credits toward airfare or car rental purchases. Redemptions start at 6,667 Diamond Plus Points for a $50 statement credit.
  • Travel redemptions. Through Barclaycard Loyalty Edge, you can redeem Diamond Plus Points for car rentals and airfare, starting at 10,000 Diamond Plus Points for $75 toward a car rental or airline ticket.
  • Gift cards, gift certificates and merchandise. Shipped anywhere in the 50 United States, Virgin Islands and Puerto Rico.

You’ll also like …

  • Intro balance transfer APR. Get 0% APR for the first fifteen billing cycles on balance transfers that post within the first 45 days.
  • Concierge service. Call Mastercard for assistance with dining, travel and entertainment reservations.

What to watch out for

  • Potentially high APR. Depending on your credit, you could see a purchase and balance transfer APR as high as 23.24%.
  • Higher APR for cash advances. Cash advances come with a 26.49% variable APR.
  • Other fees. The card has balance transfer, cash advance and foreign transaction fees.
  • Penalty fees. Late and returned payments can hurt: You’ll pay up to $37.00.

What should I know before I apply?

To apply for the Diamond Resorts International Mastercard, you must be at least 18 years old and a US resident. Residents of Puerto Rico and US territories are not eligible.

Always consider your options and your financial situation before you apply for a credit card.

Information you’ll need

  • Full name and contact information
  • Residential status
  • Annual income and employment information
  • Social Security number, date of birth and mother’s maiden name

What credit score do I need?

You’ll have a better chance of approval for the Diamond Resorts International Mastercard if you apply with a good to excellent credit score of 680 or higher.

How to apply for the Diamond Resorts International Mastercard

1. Go to the Barclaycard website and click Apply Now.

Diamond Resorts International Mastercard step 1

2. Complete the application with details like your name, contact information, employment information and Social Security number. Then click Apply to submit your application.

Diamond Resorts International Mastercard step 2

How long will it take to be approved?

Typically, you’ll receive an immediate decision on your application. In rare cases, you may need to wait a few days to a few weeks until Barclaycard manually approves your application.

I got the card. Now what?

  • Make timely payments. Pay your bill online at the Barclaycard website, where you can also enroll in autopay.
  • Avoid interest. After the close of each billing cycle, you have a grace period of 23 days to pay your balance. If you do, you won’t pay interest on your purchases.
  • Avoid fees. Late and returned payments come with hefty fees of up to $37. Balance transfers, cash advances and foreign transactions also come with fees.
  • Customer service. If you have questions, contact Barclaycard customer service at 866-928-8598.

Bottom line

This card is a solid pick if you love staying with Diamond Resorts. It can be an especially good deal if you stay in Diamond Resorts timeshares.

But if you’re looking for general travel rewards, you may want to compare other cards you could be eligible for.

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