JCB Mitsuwa MarketPlace Credit Card Review: 3% Cash Back

JCB currently has 2 credit cards in their portfolio currently issued to the United States. Firstly, JCB is a Japanese based company and doesn’t have as much shares in the USA as American Express, Citi, Etc., but they do offer an exceptional credit card with rewarding perks and if you live in California, Connecticut, Hawaii, Illinois, Nevada, New Jersey, Oregon or Washington; you could get your hands on a Mitsuwa Credit Card from JCB.

 This will ultimately offer you 3% cash back on your every purchase as well as charging no annual fee making it quite the balanced daily credit card.You will also receive a nice $15 bonus annually if you spend $1,000 or more on the Mitsuwa marketplace.

Editor’s Note: Offer is exclusive to residents of California, Connecticut, Hawaii, Illinois, Nevada, New Jersey, Oregon or Washington.

Alternative Credit Cards Bonuses:

• Chase Freedom Unlimited^SM
• Citi® Double Cash Card – 18 month BT offer
• Barclaycard CashForward^TM World MasterCard®

JCB Mitsuwa Marketplace Application Process:

Proof of residents and income verification would be needed to apply. eligibility by age also applies (21 years of age). I’ve heard that you could apply by Phone, In-branch, or download the application form and submit it by mail.

JCB Mitsuwa Marketplace Card Rewards:

This card will earn up to 3% cash back on all purchases within:

• First $2,000 spent annually will earn 1 point per $100 in spend (1% cash back)
• $50,000+ spent annually will earn 1 point per $100 in spend (1% cash back)
• $2,000 – $5,000 spent annually will earn 2 points per $100 in spend (2% cash back)
• $5,000 – $50,000 spent annually will earn 3 points per $100 in spend (3% cash back)

If you spent a total of $50,000 annually you’d earn:

• $20 for first $2,000 spend
• $60 for the next $3,000 in spend
• $1,350 for the next $45,000 in spend

Although this card confirms a 3% cash back, the most effective cash back rate you would be able to receive is 2.86%. That’s if you accomplish the $50,000 annual spend. I would rather accomplished a spend of $7,000 for 2% cash back to be honest, but if you’re a high spender, this card could be worthy! Redeem at a minimum of $10 a time and your points are valid until the last day of every calendar year.

Now point accumulation is by far one of the most strikingly complicated things about this card because it’s purely per-month basis. To maximize rewards value I stress that you put a spend interval of $100 each month. $99 and less will not reap you efficient benefits.

JCB Mitsuwa Marketplace Card Key Features:

• Up to 3% cash back on all purchases
• No annual fee
• $15 bonus annually if you spend $1,000 or more on the Mitsuwa marketplace

JCB Mitsuwa Marketplace Card Pros: 

• 3% cash back
• No Annual Fee
• Annual anniversary
• Access to 62 different JCB Plaza’s (Plaza Lounges) worldwide
• Air/Common Carrier Insurance: Up to $250,000 in coverage if you use your card to purchase an airline ticket
• Lost Luggage Insurance: Up to $1,000 in coverage if you use your card to purchase an airline ticket

JCB Mitsuwa Marketplace Card Cons:

• No sign-up bonus
• Exclusively for certain states
• Weird point accumulation
• Sensitive to cycling Credit Limit

JCB Mitsuwa Marketplace Card Credit Limit:

Individuals have reported getting a credit limit ranging from $500-$6,500. If you ask for a credit limit increase, it’s confirmed to be a hard pull. process will take four weeks to process and you’ll need at least 6 months payment history before they would even consider a increased credit limit. It is possible to pay the card off halfway through your cycle and then putting additional spend on the card.

Conclusion:

If you’re currently looking for something better than 2% cash back, then I have great news for you! Residents of California, Connecticut, Hawaii, Illinois, Nevada, New Jersey, Oregon or Washington can now take advantage of the Mitsuwa Credit Card from JCB for 3% cash back after making a spend of $3,000. You can optimize your 3% with a spend of $50,000 annually.

Now, primarily due to the fact that this card is Japanese based, it’s quite exclusive and not only that, the point accumulation is a little odd compared to any other credit card I ever written about, but it could be a well-rounded card depending on your spend, but I’ll just recommend a Chase Freedom Unlimited or Fidelity.  I feel like this card would be great for bigger spending since you really want to reap the 3% cash back everywhere. Now, I have a feeling that this card will sometimes be declined at certain stores because it may not be a registered payment form for some stores. Otherwise, find out which card is right for you by checking out our complete list of Credit Card Promotions today!