Redwood Capital Bank Consumer Low Rate Mastercard®
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| Purchase APR (Variable APR) | Starting at 10.24% |
| Balance Transfer APR (Variable APR) | Starting at 10.24% |
| Credit Score Range | N/A |
| Annual Fee | $0 |
Redwood Capital Bank Consumer Low Rate Mastercard® Review
This is a credit card issued by Redwood Capital Bank. If you're wondering whether Redwood Capital Bank Consumer Low Rate Mastercard® is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.
Key Takeaways
- No annual fee*. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
- 3% Balance transfer fee. Redwood Capital Bank Consumer Low Rate Mastercard® charges a fee of 3% on balance transfers, if you transfer the balance within 180 days of opening the account. For example, a balance of $1,000 could cost $30 in transfer fees. The minimum fee is $10.
- Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 2% every time you make a transaction outside the U.S.
- Accepts cosigners. Redwood Capital Bank is one of the few credit card issuers that allows applicants to include a cosigner. Adding a cosigner can really improve your approval chances if your credit is not great.
Pros & Cons of Redwood Capital Bank Consumer Low Rate Mastercard®
| The Good | The Bad |
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Redwood Capital Bank Consumer Low Rate Mastercard® FAQ
Does Redwood Capital Bank Consumer Low Rate Mastercard® have a cash back or rewards program?
No, it does not offer a rewards program.
What are the relevant APRs for Redwood Capital Bank Consumer Low Rate Mastercard®?
According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.Redwood Capital Bank Consumer Low Rate Mastercard® has a variable purchase APR starting at 10.24% . The card has a variable balance transfer APR starting at 10.24% . It also has a variable cash advance APR starting at 10.24% . Note that late payments are subject to an APR of 19.24% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.
Does Redwood Capital Bank Consumer Low Rate Mastercard® have an intro APR offer on balance transfers?
Yes, it offers an intro APR rate on balance transfers of 2.90% for a period of up to 6 months.
| Description | |
|---|---|
| Balance Transfer Fee % After Intro Period | Starting at 10.24% |
| Balance Transfer Fee Intro Period | 180 days |
| Balance Transfer Introductory APR | 2.90% |
| Balance Transfer Intro APR Period | 6 months |
| Balance Transfer APR | Starting at 10.24% |
| Balance Transfer Fee Minimum | $10 |
| Balance Transfer Fee % | 3% |
Does Redwood Capital Bank Consumer Low Rate Mastercard® have an intro APR offer on new purchases?
| Description | |
|---|---|
| Introductory Rate | 2.90% |
| Purchase Intro APR Period | 6 months |
This card does offer an intro APR rate of 2.90% on qualified purchases for a period of up to 6 months.
What are the fees for Redwood Capital Bank Consumer Low Rate Mastercard®?
The following fees apply:
| Fees | Amount |
|---|---|
| Annual Fee | $0 |
| Foreign Transaction Fee | 2% |
This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost card.
Does Redwood Capital Bank Consumer Low Rate Mastercard® have a foreign transaction fee?
Redwood Capital Bank Consumer Low Rate Mastercard® charges a foreign transaction fee of 2%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $40. If you travel abroad you may want to leave this card at home and apply for one that doesn't charge foreign transaction fees.What is the customer service phone number for Redwood Capital Bank Consumer Low Rate Mastercard®?
The Redwood Capital Bank Consumer Low Rate Mastercard® customer service number is (707) 444-9800.
What is the support contact email for Redwood Capital Bank Consumer Low Rate Mastercard®?
The support contact email for Redwood Capital Bank Consumer Low Rate Mastercard® is inquiries@redwoodcapitalbank.com.
What is the Redwood Capital Bank Consumer Low Rate Mastercard® login page?
You can access the Redwood Capital Bank Consumer Low Rate Mastercard® login page here.
How do people rate the customer service and user experience of Redwood Capital Bank Consumer Low Rate Mastercard®?
We currently don't have sufficient reviews to provide a reliable SuperMoney community rating for this product.
Does Redwood Capital Bank Consumer Low Rate Mastercard® report your account activity to credit bureaus?
Yes, Redwood Capital Bank Consumer Low Rate Mastercard® reports your account activity to the following credit reporting agencies:
- Equifax
- Experian
- Transunion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
How to apply for Redwood Capital Bank Consumer Low Rate Mastercard®
- Visit the Redwood Capital Bank Consumer Low Rate Mastercard® website.
- Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
- Check the information is accurate and submit your application.
If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.
Contact
- Headquarters
-
402 G Street
Eureka, CA 95501 USA - (707) 444-9800
- Visit Site
- Email Support
Other Services by Redwood Capital Bank
Availability
Feature Breakdown
| Introductory Rate | 2.90% |
| Purchase Intro APR Period (Variable APR) | 6 months |
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