Jasper Cash Back Mastercard® review
A credit-building card best suited for professionals relocating to the US.
finder.com’s rating: 4.5 / 5
- Get this card if you’re moving to the US and you don’t have a credit history, or if you’re a US citizen who wants to build credit.
- Pick something else if you want a secured card.
- Apply with no or limited credit history as application review is based on multiple criteria, not just your credit score.
Up to 6%
15.49% to 24.99%
Purchase APR (variable)
New to credit
Recommended credit score
|Rewards||Up to 6% cash back by referring friends. Start with 1% and get an extra 1% for a full year for every friend you bring on board|
|Purchase APR||15.49% to 24.99% variable|
|Balance transfer APR||N/A|
|Recommended minimum credit score||New to credit|
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.
The Jasper Cash Back Mastercard® is aimed at professionals relocating to the US for a new job. With the 2020 changes, professionals who recently graduated from college or anyone who wants to build credit can also apply for the card. It comes with a $0 annual fee and it gives you the chance to start building your credit even while you wait for your Social Security number to be issued.
The cool thing about this card is that you don’t need US credit history to apply. Instead, it considers factors like your education, your career and your debt-to-income (DTI) ratio to decide whether to extend credit to you. But if you’ve been in the US for one year or more, Jasper will check your credit with a hard pull.
On the downside, you don’t get to earn a welcome offer and you don’t get a 0% intro APR period on balance transfers and purchases. But this shouldn’t be a big deal for such an excellent credit-building card.
CreditStacks changes its name to Jasper
As of May 26, 2020, CreditStacks changed its name to Jasper. Aside from that, the card has made the following changes:
- 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.
How to apply for the Jasper Cash Back Mastercard®
- Click Apply now.
- Fill out the application form
- Review your information and click Submit
Upon approval, expect your card to be shipped in one to two business days if you’re already in the US. Then you can expect to receive your card within an additional seven to 10 business days, though no tracking number will be provided.
If your expected start date for your new job is 10 days or more from the approval date, you’ll be notified 10 days prior to your start date to confirm your shipping address.
What should I know before I apply?
To apply for the Jasper Cash Back Mastercard®, you must be at least 18 years old, and have an expected job start date within 60 days of you application. You’ll need to provide:
- Your name, email and employer.
- Whether you live in the US or when you’ll be moving to the US.
- Your residency status.
What credit score do I need?
Unlike many other cards, you don’t need a credit score to apply for the card. In fact, it’s specifically targeted to customers without one.
Do I need a Social Security number?
You don’t need a Social Security number to apply unless you’ve been living in the US for more than one year at the time of application. If you’ve been in the US for over a year, you will need to provide an SSN and Jasper will do a hard pull on your credit.
But if you’re just moving to the US, you’ll only need to provide your visa information, passport and proof of US income. Give your Social Security number to Jasper within 60 days of card activation.
Note: You can only activate your card from within the US.
- 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. These bonuses last for a full year. With this bonus you can earn up to 6% back on all purchases. This is huge rate, especially for a card with no annual fee. However, to earn the full 6% cashback rate you’ll need to successfully refer 6 new cardholders in a 12 month period, and to be eligible to redeem cash back, you must first make three on-time payments.
- No credit score needed. To evaluate your eligibility for a card, Jasper looks at factors beyond your credit history, such as your education and career.
- No Social Security number needed. It can be tough to get a credit card if you don’t have a Social Security number. If you’ve been living in the US for less than a year with a work visa, however, this card does not require you to provide a Social Security number. In lieu of that information, provide your passport, visa information and proof of US income. Give your Social Security number to Jasper within 60 days after you activate your card.
- 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. It also provides cardmembers with resources on best practices for building credit.
- No annual fee. A $0 annual fee makes it easy to keep the card long term.
- Apply before you move to the United States. As long as your expected start date at your new job is within 60 days, you can apply for card approval before you move to the US. If you’re approved, Jasper tries to get your card to you soon after you start your new job.
- No foreign transaction fee. Use this card when visiting your home country 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. Because it’s an unsecured card, you won’t need to put down a security deposit.
What to watch out for
- No balance transfers. Jasper Cash Back Mastercard® doesn’t offer this feature. But assuming you’re just moving to the US, you may not need it.
- 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.
Compare cards for limited credit histories
Jasper isn’t the only card on the market for those with limited credit history. Petal, Self and Citi are just a few of the other providers with no credit history card options. Select up to 4 cards and click Compare for a better sense of how these cards stack up to one another.
Should you get the Jasper Cash Back Mastercard®?
- If you have a well-established credit score in the US, you might be able to get a card with more features.
- If you don’t have a credit score or Social Security number, the Jasper Cash Back Mastercard® may be an excellent option.
Case study: Bryce's experience
I recently moved from Australia to New York and knew how important it was to build my credit score in the US. I was worried about having to get a secured card or that I would have to wait to get my Social Security number to start building my credit history.
I got my CreditStacks card and started using it before I even had a Social Security number. I applied for the card after finding it on the Finder site — all while waiting in line at the Social Security office.
I opted to apply on my mobile since I didn’t have my computer with me. The application was quick, especially since I had all the documents I needed for my Social Security application.
My account got approved within a few hours with the full $5,000 limit using just a photo of my visa, job offer and passport. I was told it would take up to two weeks for my card to arrive — but I had it in my hand within three days.
The Jasper Cash Back Mastercard® is a great one for expats like me to build credit. I wish I would have known about this card sooner, since you can apply up to 60 days before you arrive in the US. It would have saved me a bunch of foreign exchange fees on my Australian debit card.
The Jasper Cash Back Mastercard® taps into an underserved market: Relocating professionals who don’t have US credit histories. Because it doesn’t require a US credit score or Social Security number, it may be a natural choice — especially when other banks may deny you.
But if this isn’t the card you’re looking for, check out other credit cards and compare your options.
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