Ace Rewards Visa Card With a $100 Statement Credit?

Q: My husband applied for the Ace credit card and got a promotion of a $100 statement credit after his very first purchase. But that was 2 years ago. I was hoping to apply for another (under my name instead) and get us another $100 bonus, but the online application doesn’t give you. Do you know any backdoor way to still get the offer?

Ace Hardware Rewards VisaA: As of 2016 they’re not offering the $100 bonus, unfortunately. It *might* be possible to get some sort of incentive, but unfortunately that is by invitation only – you have receive an offer in the mail for the Ace Rewards Visa which will include a confirmation code.

Even if I had a code myself, it wouldn’t do you any good because I think these are unique and linked to the individual. So if someone else tried to use it, I don’t think it would work.

If you’re looking for the highest bonus offer, then the best one I know of is the Chase Sapphire Preferred Card. It is a travel card, but you can also redeem the points for cash back too, at a conversion of 1 point = 1 cent cash back. Since you can earn 50,000 bonus points using the below link (after you spend $4,000 in the first 3 months from account opening) it means your bonus is worth $500 cash back -OR- $625 in travel rewards. It has an Introductory Annual Fee of $0 the first year, then $95. Here is the link to get the offer.

Now going back to the Ace Hardware credit card, it looks great at first glance but make sure you review these caveats…

  • You earn 3% at their stores (which is 15 Ace Reward points per dollar).
  • You get 2 percent back on groceries and gas.
  • 1% on all other purchases wherever Visa cards are accepted.
  • You can get bonus points in certain categories, but you have to register, and the site isn’t very specic on what those categories are.
  • The point value is really low. If you do get a bonus offer in the mail offering a bunch of points, before you jump for joy make sure you calculate the value of them. 12,500 points only equals a $25 Ace Rewards gift certificate. That means each point is only worth 1/5 of a penny. This is the reason I expressed the rewards above in terms of percentage rebate, because the high number of points you see on categories can be deceiving.

All said, their credit card is good to have if you shop a lot at their stores. But if you don’t, I would go with a non-store card instead since the biggest benefit of this one is 3% at Ace.

This review was written or last updated February 23, 2016

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