Carnival Credit Card with FunPoints Loyalty Rewards
Carnival cruise lines carries more passengers than any of their competitors in the world. They specialize in fun family vacations to sunny destinations in the Caribbean and elsewhere. While these trips can be expensive, cruisers have the option of using the Carnival World MasterCard from Barclay’s Bank in order to earn discounts on their trip as well as credits for use on board.
For each dollar spent, cardholders will earn one credit card rewards point in Carnival’s FunPoints loyalty program. Two points are earned for purchases of cruises as well as spending while on board. Cardholders will receive a sign up bonus of 5,000 points after their first purchase and up to 5,000 points for a balance transfer at a rate of one point per dollar transferred. There is a 3% balance transfer fee for transactions that occur within the first nine months of opening an account, while subsequent transfers incur a 4% fee. Cardholders will receive an interest rate equal to the Prime Rate plus 10.74%, 18.74%, or 21.74% depending on the applicant’s credit worthiness. There is no annual fee for this card, but the long term APR is not revealed until credit card applications are completed. Additionally, there are no 0% APR credit card features, so consumers with debt should likely pass on this offer.
Carnival’s FunPoints can be used to offset the price of one of their cruises. When used in this way, they are worth one cent each. Alternatively, they can be used as a credit towards the purchase of a cruise from other lines including Cunard, Holland America, and Princess. When used with one of Carnival’s competitors, the points are only worth .75 cents each. FunPoints can also be used for onboard credits, but only on Carnival cruises. When used this way, they are worth .8 cents each.
None of the redemption options offer a particularly competitive return rate for an award card. There are dozens of other products that return 1% cash back or more. With any of those cards, the cash back could be used at the cardholder’s discretion, not just for spending with a particular company. Any of their redemption options that return less than 1% in value is truly substandard. Even the 5,000 point sign up bonus is worth, at most, a mere $50, a fraction of value that is typically returned to new applicants of other reward cards. Finally, cruisers using this card when on shore in other countries will be subject to the unjustified 3% foreign transaction fee.
Ideally, this card might be used by frequent cruisers who spend heavily on Carnival voyages. These customers may feel like they are getting a reasonable return from this card. Others should look for a card with a higher sign up bonus and more valuable and versatile returns on their everyday spending.
