Issued by FNBO, the Mary Kay Rewards Visa card is a bank card supplied solely to impartial magnificence consultants of the multilevel advertising (MLM) skincare and cosmetics firm.
The $0-annual-fee card earns rewards on Mary Kay merchandise and comes with an honest bonus and a particular financing supply that may assist consultants who’ve already invested within the firm and have a enterprise with it. Nevertheless, most Mary Kay consultants can be higher off with a basic and extra versatile non-branded rewards bank card.
Listed here are 5 issues to contemplate earlier than getting the Mary Kay Rewards Visa bank card.
1. You should be a Mary Kay advisor to get it
The cardboard is on the market solely to Mary Kay’s impartial magnificence consultants, which suggests you will not be capable of get it if you do not have a enterprise with the model — even in the event you often purchase Mary Kay merchandise.
Consultants can apply for the cardboard by logging into their advisor entry website, Mary Kay InTouch. FNBO says it makes use of its commonplace set of standards, like credit score scores and a proprietary scoring technique, to find out whether or not a advisor will get authorized for the cardboard.
2. Rewards are first rate and redemption is versatile
Cardholders earn rewards (as factors) for each Mary Kay and outside-brand spending. You’ll get:
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3 factors for each greenback spent with Mary Kay.
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2 factors for each greenback spent on fuel, groceries and cellphone payments.
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1 level for each greenback spent on all different purchases.
Like most co-branded retail playing cards, this one rewards holders essentially the most for in-brand spending. However the card’s 2x-back class covers a variety of on a regular basis bills, together with cellphone payments — which is not a typical rewards class, significantly for a retail card.
Plus, in contrast with related playing cards, the redemption choices are versatile and the method is not clunky:
Factors may be redeemed for money again, reward playing cards, merchandise and journey, however their worth will rely on the redemption possibility you select. For instance, factors are price 1 cent apiece when redeemed for money again, however for reward playing cards they could be price barely much less.
You may redeem factors on-line or by calling a redemption quantity. Money again is redeemable in increments of $25, $50, $100, $250 and $1,000. There isn’t any restrict to the variety of factors you’ll be able to earn, however they do expire after 5 years in your account. Lastly, in the event you don’t have sufficient factors to redeem for a sure reward possibility, you will need to use at the least 1,000 factors towards that possibility, after which you’ll be able to pay the remaining steadiness with a card.
3. It options an introductory APR supply
The cardboard provides the next introductory supply on the time of writing: 0% APR for six billing cycles on purchases and steadiness transfers.
This 0% APR interval may help you get began on buying stock to your Mary Kay enterprise, with out having to pay any curiosity for half of a 12 months. And in contrast to most co-branded bank cards, it is a true 0% intro APR supply, not a deferred curiosity supply. Should you repay your steadiness by the top of the promotional interval, you received’t owe any curiosity; in the event you nonetheless owe a steadiness, you’ll be charged curiosity solely on the remaining steadiness transferring ahead.
Nonetheless, six months is on the low finish for such promotions. Some general-purpose bank cards supply 0% intro APR intervals of as much as 21 months.
4. It provides a modest sign-up bonus
Welcome provides usually change, however on the time of writing new cardholders can earn a $100 assertion credit score after they spend $500 within the first three billing cycles. FNBO notes that assertion credit score shall be posted inside 5 days of being issued.
Should you’re beginning your small business and are buying loads of stock, you’ll doubtless hit the bonus simply. And the assertion credit score may help you cut back the steadiness you owe in your card.
This bonus is akin to what related retail playing cards supply, however lackluster in contrast with what you will get with a basic rewards card.
5. Consultants can be higher off with a unique card
This card stands out for incomes rewards on each Mary Kay stock and on a regular basis spending. That, along with its introductory interest-free supply, could make it a helpful possibility for Mary Kay consultants who already work with the model and need to earn rewards whereas constructing their enterprise. Should you’ve already dedicated to an MLM enterprise mannequin, then making use of for the corporate’s co-branded bank card doubtless is not that a lot of a leap.
Nevertheless, even those that have made a dedication to Mary Kay would nonetheless be higher off with a basic rewards bank card that earns richer charges on on a regular basis spending and that options advantages not tied to 1 model.
The $0-annual-fee Wells Fargo Lively Money® Card, for example, earns a vast 2% money again on all purchases and likewise comes with an intro APR promotion, in addition to the next sign-up bonus: Earn a $200 money rewards bonus after spending $500 in purchases within the first 3 months.
For increased money again on quite a lot of spending, contemplate the Chase Freedom Limitless®. It prices a $0 annual charge and earns 5% money again on journey booked by means of Chase; 3% again at eating places, together with takeout and eligible supply companies; 3% again on drugstore purchases; and 1.5% again on every thing else. Plus, it comes with the next introductory supply: 0% intro APR on purchases and Stability Transfers for 15 months, after which the continuing APR of 19.49%-28.24% Variable APR.