UMB Simply Rewards visa review – Forbes Advisor


Earn rewards

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

The inclusion of grocery stores and discount stores is a unique reward potential for this card. UMB rewards points based on the Merchant Category Code (MCC) assigned to each store. If you buy groceries from big box stores like Walmart or Target, you might not earn grocery rewards on other cards. While not all locations have the same MCC, stores like Target, Walmart, TJ Maxx, and Dollar General are often categorized as discount stores. Shopping in these places can help you find the best deal and maximize your earnings.

You can also earn a welcome bonus: 15,000 bonus points when you spend $ 1,500 in the first 90 days of opening an account.

Redeeming rewards

Easily redeem your points through your online account for tickets, merchandise, travel, gift cards and statement credit. While some cards are cryptic about their rewards, UMB allows you to overview of potential rewards even before you apply. You can redeem as few as 2,500 points for a $ 25 gift card or statement credit. When points are redeemed for travel, the value of the points can be even higher.

Plus, you can set SMS notifications or access your online account to use real-time rewards to redeem points for individual purchases before they even reach your statement. Points are worth one cent each when redeemed for statement credit. Some other cards for earning points offer a lower redemption point value when the cash back option is selected.

Reward potential

Forbes Advisor uses data from various government agencies to determine both basic income and spending averages in various categories. The 70th percentile of salaried households earns $ 100,172 per year and has $ 52,820 in standard expenses. Assuming that 50% of these expenses are charged to this card, the total annual expenses for the card would be $ 26,410.

Typical expenses for gas, groceries, restaurants and discount stores are $ 12,780 per year, which earns 3 points per dollar or 38,340 points. The remaining $ 13,630 in projected spending would earn 1 point on the dollar. Considering these estimated expenses, you would also earn 51,970 reward points. The cash value of these points is $ 520 with a higher potential value when redeemed for travel. This is in addition to the welcome bonus for the first year.

You can earn additional rewards by purchasing at participating retailers. Offers are already linked to your card and are won automatically. At the time of writing, there are deals available at Starbucks, Sam’s Club, Costco, and a variety of retailers you may already be visiting. Reward offers typically range from a bonus of 2 to 10 points per dollar or offer a discount such as $ 10 to $ 25 off purchases at certain retailers.


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