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Jasper Cash Back Mastercard® review

Earn up to a 6% cash back rate by referring friends.

finder.com’s rating: 4.5 / 5

★★★★★

  • Get this card if you want a potentially high cashback rate and have friends to refer.
  • Pick something else if you want a credit-building card.
  • Apply with a Fair credit score or a limited credit history as application review is based on multiple criteria, not just your credit score.
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Up to 6%

Cash back

$0

Annual fee

15.49% to 24.99%

Purchase APR (variable)

Details

Annual fee$0
Welcome offerN/A
RewardsUp to 6% cash back. Start with 1% and get an extra 1% for a full year for every friend you bring on board. Get rewards as statement credits after three on-time payments, as long as the account is in good standing. Maximum cash back is based on credit limit.
Purchase APR15.49% to 24.99% variable
Balance transfer APRN/A
IssuerMastercard
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Review by


Kliment Dukovski is a credit cards and investments writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

The Jasper Cash Back Mastercard®, issued by WebBank, used to be called CreditStacks. It comes with no annual fee, accepts applicants with fair credit, and offers a potentially high cashback rate for the first year. 

Anyone approved for this card will get a minimum of 1% cash back on eligible purchases. You also have the opportunity to earn an extra 1% for a full year for every friend you refer who applies and is approved. This caps at 6% of your credit limit.

You’ll receive your cash back every month as a statement credit after three consecutive on-time payments as long as your account is in good standing.

On the downside, you don’t get to earn a welcome offer or a 0% intro APR period on balance transfers and purchases. The Jasper Cash Back Mastercard® also comes with a higher-than-average APR of 15.49% to 24.99%, depending on each applicant’s creditworthiness. For this reason, those who can’t pay off a balance in full each month might want to consider other card options. 

This card is a good option for those who can refer enough friends to get a substantial cashback rate for their first year, and for those who don’t want to pay an annual fee.

Best of 2021
Finder experts pick Jasper Cash Back Mastercard® as a 2021 best product for credit cards.

How to apply for the Jasper Cash Back Mastercard®

Apply with a fair or good credit score for best chances of approval. Here’s how to apply:

  1. Go to the provider's site and click Apply now..
  2. Fill out the application form.
  3. Review your information and choose Submit.

What should I know before I apply?

To apply for the Jasper Cash Back Mastercard®, you must be at least 18 years old and provide personal information, such as your:

  • Full legal name, birthday and residential address.
  • Email address.
  • Social Security number.
  • Estimated annual income and monthly housing payment.

Note that you can apply if you don’t have an SSN yet, but you’ll have to provide an SSN within 60 days of card activation, if approved.

Jasper Cash Back Mastercard® benefits

  • Rewards. You’ll earn 1% cash back on all eligible purchases. You’ll also get an extra 1% for a full year for every friend you refer who applies and is accepted, up to 6% total. Your referral also gets a 1% boost on their rewards, starting off with 2% total for a full year. The 6% cash back is a huge rate, especially for a card with no annual fee, but you’d need to successfully refer six new cardholders in a 12-month period. Also, to be eligible to redeem cash back, you must first make three on-time payments and your account needs to be in good standing. Your eligibility to earn the maximum cash back depends on your credit limit, and you’ll earn rewards automatically as statement credits.
  • Build your credit. Jasper reports your credit utilization to the three major credit bureaus: Equifax, Experian and TransUnion. Healthy use of your credit card will help you build your US credit score with these three bureaus.
  • No annual fee. A $0 annual fee makes it easy to keep the card long term.
  • No foreign transaction fee. Use this card when traveling and you won’t pay foreign transaction fees.
  • High credit limit. You may be approved for a credit limit up to $5,000, which is higher than the typical credit limit of up to $3,000 for a secured credit card. However, each person’s credit limit will vary and it’s subject to credit approval.

Jasper Cash Back Mastercard® drawbacks

  • No balance transfers. Jasper Cash Back Mastercard® doesn’t offer this feature.
  • High APR. The reward updates to the Jasper Cash Back Mastercard® brought with it some big changes to the card’s APR. Now you’ll be looking at a rather high 15.49% to 24.99% variable APR on purchases. The exact APR you are approved for will depend on your credit worthiness.

Compare cards with rewards

Jasper isn’t the only card on the market that offers a high cashback rate. Select up to four cards and hit Compare for a better sense of how these cards stack up to one another.

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American Express® Gold Card
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Blue Cash Everyday® Card from American Express
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0% intro for the first 15 months (then 13.99% to 23.99% variable)
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How has this card changed over time?

This card has changed a lot in the past couple years, including changing its name as well as who the card is designed for. Check out the chart below where we’ve tracked the updates to the card.

What’s changed

Date of changeChanges
August 4, 2021
  • Accepts applicants with fair or good credit. Previously, Jasper marketed itself as a credit-building card for those with no credit history.
  • Social Security number required to apply. Previously, an SSN was not required as this card was geared toward immigrants coming to the U.S.
May 26, 2020
  • CreditStacks changed its name to Jasper.
  • Added additional credit bureau reporting. CreditStacks reported your card activity only to Equifax. Jasper now reports to Equifax, Experian and TransUnion.
  • Card available to graduated professionals. CreditStacks offered this card only to professionals relocating to the US. Jasper has added another group — professionals who recently graduated from college.
Read review

Bottom line

The Jasper Cash Back Mastercard® is a good option if you want to earn a potentially high cashback rate your first year without paying an annual fee. However, it will take a lot of effort to earn the high cashback rate since you have to refer friends to earn higher rewards rates. Likely you’ll earn a higher rewards rate with a consistent flat-rate 2% card, and you won’t have to stress about asking your friends to sign up for a credit card.

If this isn’t the card you’re looking for, check out other credit cards and compare your options.

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