Review: Ameriprise Financial Credit Cards

ameriprise-credit-card225Ameriprise Financial offers exclusively to its clients, though none are so exciting that they would motivate you to become a client if you’re not already. Below we give a short review of each card, along with our thoughts on whether there are better cards on the market:

  • The is a standard rewards card that gives you one point per dollar charged to the card. You can redeem points for cash, travel, entertainment rewards, etc. Each point is equivalent to a penny, or 1% of your purchases, but if you deposit your points into an Ameriprise account, you’ll get a bonus that kicks the cash-back percentage up to 1.25%. You can also have the percentage increased to 1.5% if you use the points toward Ameriprise financial planning services. No annual fee. The card is issued by Barclays Bank. While this card is fine, it’s worth comparing it to other options that we think are a bit more attractive on our Cash Back Credit Cards page.

  • The has an annual fee of $150 (unless you are an Ameriprise Achiever Circle Elite customer, in which case it’s free). For that extra $150, you get similar rewards, except your cash-back percentage when deposited into an Ameriprise account is 1.5%. If you are an Ameriprise Achiever Circle client, you can also get a 25,000-point bonus if you deposit at least $50,000 into a non-retirement account with Ameriprise. Overall, though, you’d have to be a very active card user and an active Ameriprise customer for this card to be worth it.
  • The has a $450 annual fee (waived for the first year). Its main benefits seem to be travel-related, including airport lounge access, reimbursement for up to $200 per year in incidental airline fees, and a credit for the Global Entry traveler program (which allows you to get through the airport quicker when returning from international travel). The card also has the standard American Express Membership Rewards program, on a point-per-dollar formula, with the ability to get 5000 extra points for each $20,000 charged to the card (up to 30,000 bonus points per year). Could be good for the frequent traveler, but that $450 fee is tough to justify otherwise.
  • The has a $125 annual fee (waived for the first year). Its main attraction is the Membership Rewards program, and the ability to get up to 20,000 bonus points per year. (You get 2500 extra points for every $10,000 in card spending.) Membership Rewards points can be transferred into many frequent flyer programs. In our view, this card is only worth the annual fee if you are a heavy card user and you use your points to augment the points you are already earning in a frequent flyer program. Otherwise, the $125 fee is hard to justify.

See also: 0% Balance Transfer Credit Cards, Instant Approval Credit Cards, Store Credit Cards