May 26, 2024
Monarch Credit Card Review: The Complete Guide

Monarch Credit Card Review: The Complete Guide

Monarch Credit Card Review: Credit cards are an essential tool for anyone looking to accumulate credit, earn rewards, or make purchases without carrying cash. With so many credit cards available, it can be difficult to find one that fits your needs. Monarch Credit Card is a popular credit card that offers several benefits to its holders. In this article, we explore everything you need to know about Monarch credit cards.

What is the Monarch Credit Card?

Monarch Credit Card is a credit card offered by Barclays Bank Delaware. It is a credit card designed for people with good to excellent credit scores. The card offers a variety of rewards and benefits, making it a popular choice among credit card users. The Monarch credit card has an introductory APR of 0% on balance transfers for the first 15 billing cycles after account opening and a variable APR of 15.24%, 19.24%, or 24.24% on purchases and transfer balance, depending on the credibility of the cardholder.

Monarch Credit Card Review

Monarch Credit Card is a credit card offered by Barclays Bank Delaware, a reputable financial institution. Designed for people with good to excellent credit scores, the card offers several rewards and benefits, making it a great option for anyone looking to earn rewards while building their credit.

One of the main benefits of the Monarch Credit Card is its rewards program. Cardholders earn 1.5% cash back on every purchase they make with the card. There are no limits to the cashback amount that can be earned and rewards do not expire. In addition, cardholders can earn a $100 cash bonus after spending $1,000 within the first 90 days of account opening.

The Monarch credit card also offers several travel benefits, including foreign transaction fee waivers, trip cancellation, and interruption insurance, travel accident insurance, and rental car damage waiver. These benefits can be especially helpful for people who travel frequently or plan to travel abroad.

Another advantage of the Monarch credit card is the fraud protection it offers. The card comes with a $0 fraud liability guarantee, meaning cardholders are not responsible for unauthorized charges to their account. In addition, the card comes with chip technology that offers greater security when making personal purchases.

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While the Monarch credit card offers several rewards and benefits, it is important to note that it also comes with some costs. For example, there is a balance transfer fee of $5 or 3% of the value of each transfer, whichever is greater. There is also a cash advance of $10 or 5% of the value of each cash advance, whichever is greater. In addition, there are late payment fees of up to $40 and return fees of up to $40.

In terms of fees, the Monarch credit card has a $0 annual fee, making it an inexpensive credit card option. However, it is important to be aware of the fees associated with the card as they can add up if not managed properly.

Overall, the Monarch credit card is an excellent credit card choice for people with good to excellent credit scores who want to earn rewards and boost their credit. The card offers a competitive rewards program, travel benefits, fraud protection, and a $0 annual fee. It is important to be aware of the fees associated with the card and manage the account properly to avoid unnecessary charges.

Monarch Credit Card Rewards and Benefits

The Monarch Credit Card offers its holders various rewards and benefits. These rewards and benefits include:

  • Rewards Program: The Monarch Credit Card has a rewards program that allows cardholders to earn points for every purchase they make. Cardholders earn 2 points for every $1 spent on gas, groceries, and utility purchases and 1 point for every $1 spent on all other purchases. Cardholders can redeem their points for travel, merchandise, gift cards, and cashback.
  • Sign-up Bonus: The Monarch credit card offers a sign-up bonus of 10,000 bonus points after the cardholder spends $1,000 on purchases within the first 90 days of account opening. This signup bonus is worth $100 when redeemed for cashback.
  • Travel benefits: The Monarch credit card offers several travel benefits, including travel accident insurance, baggage delay insurance, and rental car insurance. Cardholders also receive a free FICO® credit score every month.
  • Fraud Protection: The Monarch credit card provides cardholder protection against fraud. Cardholders are not responsible for fraudulent purchases made using their credit card.
  • No Foreign Transaction Fees: The Monarch credit card does not charge any foreign transaction fees. This makes it a great credit card for people traveling internationally.
  • No Liability: The Monarch credit card does not offer any liability to its cardholders. Cardholders are not responsible for unauthorized purchases made using their credit card.
  • Credit Score Monitoring: Monarch Credit Card offers credit score monitoring for its cardholders. Cardholders receive alerts when their credit score changes and can view their credit score for free on the Barclays website.
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Monarch Credit Card Fees

Like all credit cards, the Monarch credit card has several fees that cardholders should be aware of. These fees include:

  • Annual Fee: The Monarch credit card has an annual fee of $0.
  • Balance Transfer Fee: Monarch Credit Card charges a balance transfer fee of either $5 or 3% of the value of each transfer, whichever is greater.
  • Cash Advance: Monarch Credit Card charges a cash advance of $10 or 5% of the value of each cash advance, whichever is greater.
  • Late Payment Fees: The Monarch credit card charges a late payment fee of up to $40.
  • Payment Return Fees: The Monarch credit card charges a return fee of up to $40.
  • Penalty APR: The Monarch credit card carries a penalty APR of up to 29.99% if the cardholder pays late.

How to Apply for the Monarch Credit Card?

To apply for the Monarch credit card, applicants must meet the following requirements:

  • Applicants must be at least 18 years old.
  • Applicants must have a good to excellent credit score.
  • Applicants must have a valid social security number.
  • Applicants must have a valid US mailing address.

Once applicants meet the requirements, they can apply for the Monarch Credit Card online. The application process is simple and takes only a few minutes. Applicants must provide their personal information including name, address, and social security number. They must also provide their employment and income details.

After the application, Barclays Bank Delaware will review the application and determine if the applicant is eligible for the credit card. If approved, the applicant will receive their Monarch credit card in the mail within 7-10 business days.

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Manage your Monarch credit card account

Once approved for the Monarch Credit Card, cardholders can manage their account online or through the Barclays mobile app. The online account management system allows cardholders to view their account balance, transaction history, and reward points balance. Cardholders can also pay their bills, set up automatic payments, and update their account information.

On the Barclays mobile app, cardholders can view their account balance, transaction history, and reward points balance. They can also make payments, set up automatic payments and view their FICO® credit score.

Final Thoughts

The Monarch credit card is a great credit card for people with good to excellent credit scores. The card offers several rewards and benefits, including a rewards program, travel benefits, fraud protection, and no foreign transaction fees. The card has a $0 annual fee, making it an inexpensive credit card option. However, it is essential to be aware of the charges associated with the card, including balance transfer fees, cash advances, and late payment fees.

Overall, the Monarch credit card is a great credit card option for people who want to earn rewards, build credit, or make purchases without carrying cash. If you meet the requirements, consider applying for the Monarch credit card and enjoy the benefits of this great credit card today.