Barclays previously reached an agreement with AARP to take over issuance of AARP co-branded credit cards from Chase. Now the full details of the new cards are out: there will be two of them, the AARP Essential Rewards and the AARP Travel Rewards (HT.DOC). Both are no-annual-fee cards with a $100 welcome bonus and a 3%/2%/1% cash back structure. There are no especially standout features. The 2% category for medical expenses is somewhat new, but Citi Double Cash already earns 2% on everything.
The AARP® Essential Rewards Mastercard® from Barclays
- $100 welcome bonus ($500 in spending within 90 days)
- No annual fee
- 3% on gas and drugstores; 2% on medical expenses; 1% on everything else
- 0% introductory APR for 15 months on balance transfers made within 45 days of account opening (there is still a BT fee, probably around 3%)
The AARP® Travel Rewards Mastercard® from Barclays
- $100 welcome bonus ($500 in spending within 90 days)
- No annual fee
- 3% on airfare, hotels, and car rentals; 2% on restaurant purchases; 1% on everything else
- 0% introductory APR for 15 months on balance transfers made within 45 days of account opening (there is still a BT fee, probably around 3%)
Existing Chase AARP cardholders will be automatically converted to one of these cards and should receive a mailing with details. However, nothing will change before September.