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The Fred Meyer Rewards® World Mastercard® is a no-frills rewards credit card that favors purchases made at Fred Meyer supermarkets and superstores. If you’ve never heard of Fred Meyer, you probably don’t live in the Pacific Northwest, where the Kroger-owned chain operates most of its stores. You can safely ignore this review.
If you live in Portland, Seattle, Anchorage, Boise, or any other sizable city in Oregon, Idaho, Washington State, or Alaska, you’re probably within easy driving distance of a Fred Meyer store. This card is designed with you in mind.
Fred Meyer Rewards World Mastercard is a no-frills product that offers automatic rebates, disbursed quarterly, on Fred Meyer spending and general purchases. Though superficially comparable to some of the top cash back credit cards on the market, its use cases are far more circumscribed. It also lacks a sign-up bonus, a key consideration for many a savvy credit card user. On the bright side, it has no annual fee.
Intrigued? Keep reading for the lowdown on Fred Meyer Rewards World Mastercard’s features, advantages, disadvantages, and overall suitability.
First-Year Fuel Points Bonus
For one year following your account opening date, you can save up to $1.25 per gallon at Fred Meyer fuel centers when you redeem up to 1,000 Fuel Points (accumulated separately) and pay with your Fred Meyer Rewards Mastercard . This represents a 25% boost to your regular fuel savings – a significant perk for drivers with long commutes.
Earn unlimited 2 points per $1 spent on qualifying net purchases inside Fred Meyer supermarkets and superstores. Fuel center purchases don’t count toward the 2x category. Earn unlimited 1 point per $1 spent on qualifying net purchases everywhere else, including Fred Meyer fuel centers.
Your accumulated rewards are automatically redeemed in full every quarter via rebate check, subject to a $5 minimum redemption (500 points). If you earn $50 in rewards this quarter, you’ll receive a $50 rebate to use at any Fred Meyer store.
Additional Cardholder Benefits
Fred Meyer Rewards World Mastercard’s additional benefits include:
- Overdraft Protection for U.S. Bank Deposit Account Holders: You can link your Fred Meyer card with your U.S. Bank deposit account for optional protection against overdrafts and NSF transactions. When you opt into this program, checking transactions that would normally cause overdrafts instead go through as usual. U.S. Bank then draws a corresponding cash advance on your cash advance credit line, covering the shortfall in $50 increments. The fee for this maneuver varies by deposit account, but is typically at least $7.50 per occurrence or day. Premium accounts may waive the fee. Once made, overdraft transfers begin accruing interest at the cash advance rate, so it’s in your interest to pay them off rapidly. Also, remember that your cash advance credit line is significantly lower than your regular credit line, so overdraft protection transfers may not be sufficient for large shortfalls.
- Auto Rental Insurance: When you pay for a rental car in full with this card, you’re entitled to complimentary loss and damage coverage through MasterRental® Insurance. To qualify, you must decline the rental company’s offer of insurance. Other conditions may apply.
- Travel and Emergency Assistance: This benefit protects you against unforeseen events on the road. If third-party service is required, you may be on the hook for out-of-pocket fees or charges. Certain exclusions may apply – check with Mastercard for details.
- Fraud Protection: This card provides for certain protections against unauthorized credit card use and identity theft, including zero fraud liability (no liability for fraudulent charges). Check your cardmember agreement and account disclosures for more information.
Fred Meyer Rewards World Mastercard has a nine-month, 0% APR introductory promotion for purchases and balance transfers. Qualifying transfers must be made within 60 days of account opening. After nine months, regular interest rates apply on the full amount of all purchases and any balance transfers made to that point.
There is no annual fee or foreign transaction fee. Cash advances cost at least the greater of $10 or 4% of the advanced amount. However, certain types of cash advances may cost more, including overdraft protection transfers. Balance transfers cost the greater of $5 or 3% of the transferred amount. Late payments cost $38. Returned payments cost $35.
This card requires good credit.
- No Annual Fee. Fred Meyer Rewards World Mastercard has no annual fee. That’s great news for frugal cardholders who simply seek quarterly rebates on Fred Meyer superstore spending – particularly those who use another credit card for everyday spending.
- Rebates Are Automatic. This card’s rebates come automatically, like clockwork, each quarter. As long as you’ve earned $5 in rebates during the preceding three months, you’ll receive your rebate check for use on a future trip to Fred Meyer. This is a big advantage over cash back cards that require manual redemptions, which are oh-so-easy to forget when you’ve got other things on your mind.
- 0% APR for Nine Months on Purchases and Balance Transfers. Fred Meyer Rewards World Mastercard has a nine-month, 0% APR promotional offer on purchases and balance transfers. If you’re planning a big shopping trip to Fred Meyer or some other big purchase, this is a great way to reduce its out-month cost while earning a meaningful return on spending. Likewise, if you’re struggling with high-interest balances on other cards, this promotion is the perfect way to literally make a down payment on them.
- No Penalty APR. If you occasionally miss payment deadlines due to unforeseen cash flow issues or unexpected expenses, you’ll appreciate this card’s lack of penalty interest.
- First-Year Fuel Benefit Is Useful for Heavy Drivers. Fred Meyer Rewards World Mastercard’s first-year fuel benefit boosts the value of Fred Meyer Fuel Rewards (earned separately) by 25%. While this doesn’t make up for the missing sign-up bonus, it’s definitely useful for cardholders who drive a lot.
- No Foreign Transaction Fee. Though it’s not a travel rewards card, Fred Meyer Rewards World Mastercard has no foreign transaction fee. That’s great news for cardholders who regularly venture outside the United States – perhaps to western Canada, given Fred Meyer’s geographical base.
- No Sign-Up Bonus. Fred Meyer Rewards World Mastercard doesn’t have a sign-up bonus. If you’re aiming to juice your earnings shortly after signing up for a no-annual-fee rewards card, check out Chase Freedom or Chase Freedom Unlimited, both of which offer handsome sign-up bonuses (with Freedom Unlimited’s worth up to $600 when you spend at least $20,000 in purchases in the first year).
- 2x Category Doesn’t Include Fuel Center Purchases. The only type of Fred Meyer purchase that doesn’t earn 2 points per $1 spent is fuel. That’s a bummer if Fred Meyer fuel centers are your fill-up destinations of choice.
- Narrow Geographical Applicability. Fred Meyer only operates about 130 stores nationwide. They’re exclusively located in four Pacific Northwest states: Alaska, Washington, Idaho, and Oregon. The vast majority of the American public therefore has no use for this card. If you’re seeking a retail rewards card with wider applicability, check out a general-purpose cash back product, such as Citi Double Cash Card.
I review a lot of credit cards. I rarely go a week without typing the phrase “this credit card isn’t for everyone,” or some variation thereof. The truth is, no credit card is for everyone; consumers are too diverse.
It’s also true that some credit cards have broad appeal. General-purpose cash back and travel rewards credit cards fall into that category – millions of people can and do use them to support everyday spending.
Fred Meyer Rewards® World Mastercard® is not a general-purpose credit card. It’s narrowly tailored to Fred Meyer shoppers who live in the northwestern United States. Everywhere else, its value is nonexistent. And even in its geographical homeland, it’s not really ideal for everyday spending outside the Fred Meyer ecosystem.