M&T Visa Credit Card with Rewards Review

Who is the M&T Visa Credit Card with Rewards for?

The M&T Visa Credit Card with Rewards is a level up from the basic M&T Visa Credit Card. With its unlimited 1 point per $1 spent on every purchase​ rewards rate and no annual fee, M&T Visa Credit Card with Rewards is a beginner credit card for those interested in obtaining rewards and cash back, as well as a regular use credit card for everyday purchases.

M&T Bank is a community-focused bank with locations almost solely in the Northeast US region. If you’re already an M&T account holder or live in that area, the M&T Visa Credit Card with Rewards is a good beginner card to pick up.

This no-hassle credit card is perfect for those interested in moving along in the credit card game with its 0% introductory APR for both payments and balance transfers and convenient payment options. In short, if you want to move up from a basic credit card but still want a card with no annual fees, look to the M&T Visa Credit Card with Rewards as the next step.

Initial Bonus

The M&T Visa Credit Card with Rewards has an initial bonus of 10,000 points if you spend $500 within the first 90 days of opening the account. These 10,000 points can be redeemed in the form of gift cards, travel, merchandise, and more. The points can also be redeemed for $100. Getting a hundred bucks for spending only $500 is an absolute steal, especially compared to other basic credit cards out there. It’s essentially a 20% cash back bonus, which is a great deal especially for having zero annual fees.

Rewards

This card’s main feature is the ability to earn an unlimited 1 point per $1 spent on every purchase​. 1 point, however, is worth only 1% of one dollar. Basically, the card provides 1% cash back on every purchase. This isn’t great compared to other introductory rewards credit cards out there. 

An important thing to note is that the M&T Bank's Reward program allows you to spend the points as you collect. However, most items in the catalog start at 2,500 points, meaning you are going to have to spend at least $2,500 before you can redeem anything. The minimum amount you need to redeem for cash back is also 2,500 points.

Although there are a decent number of items in the catalog, from gift cards to merchandise, the steep hill required to redeem your points for any items might push away potential customers.

Other Benefits

As the name of the card suggests, the M&T Visa Credit Card with Rewards is structured around its points system, but there are a few other benefits alongside it. For starters, the card itself is highly customizable using M&T Bank’s design studio. Make the background of the card a family photo or select from one of the many available images; it’s all up to you.

In order to separate itself from the rest of the regional banks, M&T Bank offers convenient ways to make payments, transfer funds, or review account details. These include online through M&T’s Online Banking site, the mobile banking app, or Bill Pay, a complimentary payment service. You can also visit any local M&T branch or ATM in person, but of course, a majority of these are located in the Northeast region.

Lastly, the credit card has M&T Assurance, the bank’s fraud detection and theft protection program. It lets you temporarily lock your card at any time and offers zero liability against unauthorized purchases. You will also receive transaction alerts right to your phone so you can be up to date with all purchases.

Technology

M&T Bank offers chip and contactless technology with this credit card. These chips have enhanced security, leading to safer purchases, and greater acceptance of purchases at chip terminals around the world. 

The credit card can also be added to your smartphone’s digital wallet, allowing for easy purchases at millions of stores around the globe.

No Annual Fee

The main selling point of this card, besides the points, is definitely its zero annual fees. The ability to accumulate points to redeem for hundreds of items or cash back, all while paying zero dollars in annual fees, is a great bargain. Of course, the credit card has a standard APR rate of between 11.24% and 18.24% depending on late payments, but as long as you pay on time, you will never have to pay any fees on this credit card, making it great for beginners. For frequent travelers, it is important to note that the card does have foreign transaction fees of 3% when you spend outside of the United States.

Conclusion

Overall, the M&T Visa Credit Card with Rewards is a good option for those who live in the Northeast region and are looking to obtain a beginner rewards credit card. With no annual fees and its zero introductory APR for both payments and balance transfers, this credit card is easy to use and manage. Lastly, you will always be accumulating points on every purchase that can later be spent or redeemed for cash back.

You can apply for the M&T Visa Credit Card with Rewards online here.