UMB Simply Rewards Visa Credit Card Review 2024

UMB Simply Rewards is a great way to earn rewards on most everyday purchases. You earn 3 points per dollar spent at gas stations, grocery stores, discount stores, restaurants and fast food locations and 1 point per dollar on all other purchases.

While 5% back on select categories offered by some other cards may sound more appealing, those cards often require you to select categories each quarter and have limits on bonuses. With no additional work, the UMB Simply Rewards provides 3% on popular categories. Additionally, many cards exclude discount stores from their rewards. If you shop at stores like Target and Walmart for groceries, you may be earning less than you think on other cards while the UMB Simply Rewards Visa Card explicitly includes discount stores as a bonus category.

Although you won’t earn bonus rewards for travel purchases, you can redeem your earnings for travel through UMB’s loyalty rewards site. But be aware that while lower than other cards, the UMB Simply Rewards card is a poor choice for international travel because of its 2% of the U.S. dollar amount of each cash advance or purchase.

• Earn 3 points per dollar spent at gas stations, grocery stores, discount stores, restaurants and fast food locations and 1 point per dollar on all other purchases.
• Intro APR for purchases and balance transfers
• Welcome bonus: Earn 15,000 bonus points after spending $1,500 in the first 90 days of account opening.
• Reward points expire after five years
• No annual fee
• 2% foreign transaction fee

Earning Rewards

The UMB Simply Rewards Visa Card earns 3 points per dollar spent at gas stations, grocery stores, discount stores, restaurants and fast food locations and 1 point per dollar on all other purchases.

The inclusion of both grocery stores and discount stores for elevated earnings is uncommon. UMB rewards points based on the Merchant Category Code (MCC) assigned to each store. If you shop for groceries at superstores like Walmart or Target, you may not be earning elevated rewards if you have a card that offers high grocery rewards. While not every retailer uses the same MCC across locations, stores like Target, Walmart, TJ Maxx and Dollar General are often categorized as discount stores. Including both grocery stores and discount stores may allow you to shop around for the best deal and still maximize your rewards potential.

You also can earn a first-year welcome bonus: 15,000 bonus points after spending $1,500 in the first 90 days of account opening.

Redeeming Rewards

Redeem points through your online account for tickets, merchandise, travel, gift cards, statement credits and more. Earn even more points when making purchases through UMB’s shopping portal.

Rewards Potential

Forbes Advisor uses data from various government agencies to determine baseline income and spending averages across various categories. The 70th percentile of wage-earning households brings in $116,000 annually and has $36,177 in annual expenses that could reasonably be charged to a credit card.

Typical spending on gas, groceries, eating out and discount stores is $15,254 per year, earning 3 points per dollar or 45,762 points. The remaining $20,923 in projected spending would earn 1 point per dollar for 20,923 points. The cash value of the total 66,685 points for the year would be $667 with a higher potential value when exchanged for travel. This is in addition to the first-year welcome bonus.

Read more: Best Rewards Credit Cards

There is a 0% Intro APR on purchases for 12 months. Additionally, all balance transfers made within the first 60 days of account opening are eligible for 0% Intro APR on balance transfers for 12 billing cycles. After the introductory period is over, the APR reverts to 17.24% - 25.24% variable, based on your creditworthiness.

• Auto rental insurance. Rental car coverage when the rental is paid for on the card. See the Visa Guide to Benefits for exclusions and conditions.
• $0 liability protection. You will not be held responsible for fraudulent purchases on your card.
• Contactless payments. The card has contact-free technology built in to reduce physical contact.
• Mobile wallet. Make secure purchases with Apple Pay, Samsung Pay, Garmin Pay and Fitbit Pay.

Interest Rates

• Regular APR: 17.24% - 25.24% variable
• Purchase intro APR: 0% Intro APR on purchases for 12 months
• Balance transfer intro APR: 0% Intro APR on balance transfers for 12 billing cycles

Fees

• Annual fee: $0
• Balance transfer fee: 3% of the amount of the balance transfer, with a $15 minimum
• Foreign purchase transaction fee: 2% of the U.S. dollar amount of each cash advance or purchase

UMB Simply Rewards Visa* vs. Capital One SavorOne Cash Rewards Credit Card

Like UMB Simply Rewards, the Capital One SavorOne Cash Rewards Credit Card (rates & fees) card does not have an annual fee. The card is marketed toward those with good to excellent credit. Cardholders will earn 3% cash back on dining, entertainment, popular streaming services and grocery stores (excluding superstores like Walmart® and Target®), 5% cash back on hotels and rental cars booked through Capital One Travel, 8% cash back on Capital One Entertainment purchases, and 1% on all other purchases.

SavorOne also offers a welcome bonus of $200 cash bonus after spending $500 on purchases within the first 3 months from account opening. Additionally, this card charges no foreign transaction fees, so if you shop or travel internationally, SavorOne may be a better fit.

Given the previous spending estimates, the average household could earn approximately $596 in rewards in addition to the first-year welcome bonus. But note if you don’t spend the estimated $1,176 on entertainment, your earnings will be reduced. The Capital One SavorOne earns more rewards the first year, due to the welcome bonus, but general earnings will be higher with the UMB Simply Rewards Card for many households.

UMB Simply Rewards Visa* vs. Blue Cash Everyday® Card from American Express

The Blue Cash Everyday® Card from American Express (Terms apply. See rates & fees) earns 3% cash back at U.S. supermarkets, U.S. gas stations, and online retail purchases in the U.S. (on up to $6,000 in each category per year in purchases, then 1%), and 1% cash back on other purchases. Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits or at Amazon.com checkout. The Blue Cash Everyday Card also has no annual fee. However, based on average spending the earning potential for this card is not nearly as high as UMB, especially if you dine out. New cardmembers can earn a $200 statement credit after spending $2,000 on purchases within the first 6 months. But even that reward boost will offer most households fewer rewards than the UMB Simply Rewards card.

UMB Simply Rewards Visa* vs. Citi Double Cash® Card

If you would prefer straightforward rewards, the Citi Double Cash® Card is an excellent option. You earn an unlimited 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off. There are no annual fees or reward limits on this card. Cash back is earned in the form of ThankYou Points that can be redeemed for cash back as a check, statement credit or transferred directly to select transfer partners. Or you can take your rewards and combine them with a more premium card to unlock even more transfer partners.

The UMB Simply Rewards welcome bonus may give that card a slight edge in the first year, but in subsequent years you would likely earn more with the Citi Double Cash Card according to our estimates. It’s worthwhile to do the math based on your personal spending to see which card will offer more rewards.

This card offers best-in-class rewards on discount store purchases and could be a great choice for budget-minded shoppers on their everyday spending. Pairing this card with another that covers other areas of spending could be a winning strategy to squeeze the most value out of your credit card spending. Just keep in mind that it’s not a great choice for travel due to its lackluster earn rate and foreign transaction fee.

Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:

• Annual fees
• Welcome bonus offers
• Ongoing earning rates
• Value of individual points or miles
• Included travel or merchant credits
• Additional cardholder benefits

Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.

Read more: How Forbes Advisor Rates Credit Cards

To view rates and fees of the Blue Cash Everyday® Card from American Express, please visit this page