2013 Carnival Credit Card Exposed

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CreditCardGuru
 
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2013 Carnival Credit Card Exposed

Postby CreditCardGuru » Thu Sep 12, 2013 9:32 pm

Carnival MasterCard is the official credit card of this cruise line. Their cruises are a good value, but can the same be said about Carnival credit card?

[imga=cruise ship"]http://creditcardforum.com/images/cards/misc/cruise-ship.jpg[/imga]
Quick Summary: This is one of the worst choices you could make for rewards. Here's why:
  • You only earn 1 point per dollar normally. Only Carnival Cruise purchases will earn 2x points.
  • Points may be worth less than 1 penny each! For example, if you redeem 12,500 points for a $100 onboard credit, that works out to be 8/10th of a penny per point.
  • This means you are only earning 1% (or less) on most purchases and 2% (or less) on Carnival purchases.
Since there are no value added benefits you get with it, there's little reason to apply.

It’s amazing how fast Carnival Cruises has grown. Started in ’72, they now reportedly control over 50% of the worldwide cruise market! However, considering that they are known to usually have the most reasonable prices, it really comes as no surprise they are as big as they are. In addition to Carnival, their U.S. brands include Princess Cruises and Holland America Line.

Carnival Cruise Credit Card Review 2013
Nowadays, pretty much any decent-sized company issues their own credit card. Being that they’re the biggest cruiseline, it’s natural that they have the Carnival MasterCard. I carefully combed over the Carnival credit card application including the fine print. Take a closer look to see whether or not this card will be right for you…

Annual Fee - This credit card has no annual fee.

Interest Rates: - As we all know, interest rates can change at the drop of a hat with any card. But while doing this credit card review, the Carnival World MasterCard had the following rates: 13.99%, 16.99%, or 20.99%. As with most cards, the rate you end up getting depends on how good your credit is. If you have an excellent credit history and qualify for one of the first two tiers, those rates are around average.

Rewards: - For most of us, this is what it boils down to… are the rewards worthwhile or not? Well, here’s what the Carnival credit card does as far as the rewards go…

Spending earns what they call FunPoints:
  • 1 FunPoint per dollar spent on purchases
  • 2 FunPoints per dollar spent with Carnival Cruiselines
The points can be redeemed in a couple different ways:
Cruise Discount
They can be cashed in for a Carnival Cruise discount; starting at 1 point equaling $0.1 (i.e. 5,000 points would equal a $50 discount). This equals out to be 1% on your regular spending and 2% on your Carnival Cruiselines spending.

Considering that Carnival purchases probably only make up a small percentage of your total spending, this means that you are probably getting closer to only a 1% rebate on your spending. Since most cards give 1% in rewards, this is nothing extraordinary. The conversion ratio does go up a bit above 1.00%, but only if you have A LOT of points to redeem.

On-board Gifts
The FunPoints earned through the Carnival Cruise credit card can also be redeemed for on-board gifts. To be honest, their point conversion for this disappointed me. For example, you can get a $100 onboard credit, but it will cost you 12,500 points! Assuming those points were all earned through regular purchases, that equals out to be only a 0.80% rebate! That’s crazy, considering that even basic credit cards today will give you 1% cashback (that could be spent on whatever you want). Some of their other gifts include things like a dozen roses, but at a price tag of 6,500 points (that’s $65.00 worth of points) I bet you can probably buy those cheaper if you just paid with cash!
Conclusion?
This is an average card all-around... average rewards... average APR... average benefits.

If you’re primarily interested in the Carnival credit card to earn rewards, it’s probably not much better than what’s already in your purse or wallet.

The Top Rewards Card For Cruises [size=84]
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