Home > Credit Card Reviews > 3 Credit Cards That Offer Special Incentives for Mobile Wallets

Comments 0 Comments

[Disclosure:  Cards from our partners are reviewed below.]

Mobile wallets offer an alternative payment method at the cash register, giving customers the power to pay using their smartphones or even their smart watches. They also offer several advantages: they’re fast, they’re convenient, and they can be linked to a variety of funding sources.

But many mobile wallets lack the cash back or points rewards you can get with major credit cards. Some credit card issuers have responded by offering cards with special incentives for linking your card to a mobile wallet.

Here are three credit cards with special mobile wallet benefits.

1. US Bank Altitude Reserve

Rewards: Three points per dollar spent on eligible travel expenses and mobile wallets spending, one point per dollar spent on other purchases.
Sign-Up Bonus: 50,000 bonus points when you spend $4,500 in the first 90 days.
Annual Fee: $400
Annual Percentage Rate (APR): Variable 16.74% APR.
Why We Picked It: Mobile wallet purchases earn triple points, and the card comes with huge travel benefits.
For Your Mobile Wallet: This card is compatible with popular mobile wallets, including Apple Pay, Samsung Pay, Android Pay, and Microsoft Wallet. You’ll get triple points for every dollar spent through those mobile wallets or on travel. Points can be redeemed for many things, but the greatest value is reserved for travel redemptions. Plus, the card comes with a wide range of travel benefits, including $325 in annual travel credits and airport lounge access.

Drawbacks: The wealth of travel benefits comes at a steep cost, with a $400 annual fee.

2. Wells Fargo Cash Wise Visa Card

Rewards: 1.8% cash back for 12 months on qualified mobile wallet purchases, 1.5% cash back on all other purchases.
Sign-Up Bonus:
$200 bonus cash back when you spend $1,000 in the first three months.
Annual Fee:
on purchases and qualifying balance transfers, then
Why We Picked It: For the first year, you’ll avoid interest and get extra cash back with select mobile wallets.
For Your Mobile Wallet:
Google Pay and Apple Pay purchases earn 1.8% cash back for the first year, while all other purchases earn 1.5% cash back. Plus, you’ll get a solid 12 months of interest-free purchases and balance transfers.
Drawbacks: The extra cash back rate for mobile wallets expires after one year.

3. PayPal Extras Mastercard

Rewards: Three points per dollar spent at gas stations and restaurants, two points per dollar spent at PayPal and eBay, and one point per dollar spent on other purchases.
Sign-Up Bonus:
Annual Fee:
Variable 20.99% or 24.99% APR, based on your credit.
Why We Picked It:
If you already use PayPal’s mobile wallet, earning rewards with this card should be a breeze.
For Your Mobile Wallet:
You’ll earn triple points on gas station and restaurant purchases, double points on PayPal and eBay purchases, and single points everywhere else. You can use your physical card or link it directly to your PayPal mobile wallet. Points can be redeemed for PayPal cash, travel, gift cards, and more.

Drawbacks: The card’s APR is fairly high right out of the gate.

How to Choose a Card for Your Mobile Wallet

Linking a credit card to your mobile wallet offers a few distinct advantages. You can potentially earn credit card rewards, including cash back or travel points, as you spend with your mobile wallet. The service is newer, however, and merchants and banks may not be as familiar with issues around mobile wallets compared to a traditional card. Before you make the move to a mobile wallet, take note of whether your preferred stores and restaurants accept this form of payment.

Not all cards are currently compatible with all mobile wallets, either. When evaluating a credit card, make sure to check that it works with your mobile wallet of choice.

You don’t have to pick a credit card that has special cash-back incentives for mobile wallets. Many credit cards will automatically earn rewards if you tie them to your mobile wallet. Just make sure to check with the credit card issuer that its rewards programs support mobile wallet purchases.

Beyond that, you should choose a card that rewards the way you tend to spend and provides redemption options that you’ll actually use.

What Credit Is Required for a Mobile Wallet Credit Card?

Most major credit card issuers can link their cards to at least some mobile wallet types, so the credit required for a mobile wallet credit card can vary. But if you’re looking for a card that earns cash back or points rewards, you’re likely going to need good to excellent credit. Before you apply, you can check two of your credit scores free at Credit.com.

At publishing time, the Wells Fargo Cash Wise Visa Card is offered through Credit.com product pages, and Credit.com is compensated if our users apply for and ultimately sign up for any of these cards. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved or otherwise endorsed by the issuer(s).

Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

Image: iStockphoto.com

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them.

Hello, Reader!

Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

Our Reporting

We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.

Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.

Your Stories

Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

Thanks for stopping by.

- The Credit.com Editorial Team