REI Co-op Mastercard Review: 5% Back for Outdoor Enthusiasts

You spend hundreds of dollars a year at REI on hiking gear, bikes, climbing equipment, and camping supplies. Wouldn't it make sense to earn 5% back on all of it? The REI Co-op Mastercard, issued by Capital One, makes that possible with no annual fee attached. But there's nuance in how those rewards work, and this card is only worth it if you shop at REI consistently.

Here's every detail you need, as of June 2026.

Key Facts at a Glance

How the Rewards Work

Every net purchase at REI retail stores and REI.com earns 5% in REI Co-op Mastercard Rewards. Every purchase made anywhere else earns 1.5%. Rewards post to your account one to two business days after the purchase posts, so they're available fast. They never expire as long as your account is open and in good standing.

Rewards are redeemable directly at REI on most merchandise. You cannot transfer rewards to travel points, cash back, or other programs. If you spend most of your non-REI budget at everyday categories like groceries or gas, the 1.5% rate is decent but not market-leading compared to flat 2% cash-back cards. For a direct head-to-head on flat-rate versus category cards from Capital One, the capital one quicksilver vs savor comparison is worth a read.

Welcome Bonus

After your first purchase outside of REI within 60 days of account opening, you earn a $100 REI gift card. This is a lower spend requirement than most travel cards, making it accessible even for light spenders. The gift card applies to most REI purchases, including sale items.

APR and Fees

As of February 2026, Capital One sets the purchase APR at 17.49%, 24.49%, or 28.49% variable, depending on your creditworthiness. Applicants with the strongest credit histories will qualify for the lowest tier. The cash advance APR is 28.49% variable, and the balance transfer fee is 3%.

There is no annual fee, no foreign transaction fee, and no penalty APR published. That makes this a solid travel companion for international trips where you want to avoid the typical 3% foreign transaction surcharge.

REI Co-op Membership: A Separate Cost

The card itself has no annual fee, but being an REI Co-op member is required to apply. REI membership costs a one-time fee of $30. This is not a recurring charge, so it's a one-time investment rather than an ongoing cost. Members also receive the annual Co-op Member Reward (typically 10% back on REI purchases each year, separate from card rewards), so the $30 pays for itself quickly for regular REI shoppers.

Approval Requirements

The REI Co-op Mastercard is designed for good-to-excellent credit. Based on our research, approved applicants generally have good-to-excellent credit, with most in the 700-750 range. Capital One may conduct a hard credit pull at application. A soft pre-qualification option is available, which will not impact your credit score.

Reported credit limits range widely, with an average around $12,000 and many applicants receiving limits of $25,000 or higher for excellent credit profiles.

Who Should Get This Card?

This card makes the most sense for REI Co-op members who spend at least $500 to $1,000 per year at REI. At $500 in annual REI spending, you'd earn $25 in card rewards plus the $100 welcome gift card in year one. At $1,000 per year, you're earning $50 in card rewards on top.

For casual REI shoppers, the 1.5% rate on non-REI spending is fine but not exceptional. A flat 2% cash-back card would outperform on everyday purchases. Outdoor-focused shoppers comparing similar store-linked rewards programs may also want to look at the cabela's credit card, which earns points on outdoor gear with no annual fee.

Honest Pros and Cons

Pros: No annual fee, no foreign transaction fee, 5% back at REI is category-leading, rewards never expire, soft pre-qual available, $100 welcome gift card with easy spend threshold.

Cons: Rewards locked to REI redemption, 1.5% elsewhere is below some flat-rate competitors, APR range tops out at 28.49%, REI membership required ($30 one-time fee), approval typically requires good credit.

Alternatives for Good-Credit Cardholders

If your credit score qualifies you for the REI Mastercard, you likely qualify for a broader set of rewards cards. For flat-rate rewards with more flexibility, consider the Aspire® Mastercard®, which offers rewards on everyday purchases with flexible redemption. It may fit cardholders who want rewards that aren't tied to a single retailer. Terms and conditions apply; APRs vary by creditworthiness.

Another option in the open-loop Mastercard space is the Perpay Credit Card, which operates on a unique income-based model and can work well for shoppers who want a Mastercard usable everywhere. It's particularly useful if you're building toward a stronger credit profile before applying for top-tier travel or cash-back cards. Terms and conditions apply.

If you have solid savings and want rewards on your investing alongside everyday spending, Robinhood Gold offers a cash-back card with competitive rates for Robinhood Gold members. It's a good fit for financially active users who already use the Robinhood platform. Terms and conditions apply.

Frequently Asked Questions

Do REI Co-op Mastercard rewards expire?

No. REI Co-op Mastercard Rewards do not expire for the life of your account. As long as your account remains open and in good standing, your earned rewards stay available to redeem at REI. This differs from many travel points programs that expire after 12 to 24 months of inactivity.

Can I use the REI Mastercard outside of REI?

Yes. The REI Co-op Mastercard runs on the Mastercard network, so it's accepted anywhere Mastercard is, including internationally with no foreign transaction fee. You'll earn 1.5% on those non-REI purchases, which posts to your REI rewards balance. Curious how this stacks up against a co-branded outdoor card from a competing retailer? See the rei credit card overview for additional context on how REI card rewards are structured.

Do I need to be an REI member to apply for the card?

Yes. REI Co-op membership is required to apply for the REI Co-op Mastercard. Membership costs a one-time fee of $30 and provides additional benefits including the annual 10% Co-op Member Reward on eligible REI purchases, which is separate from and on top of your card rewards.

What credit score do I need for the REI Mastercard?

Capital One typically approves applicants with good to excellent credit, generally a FICO score of 700 or higher. Most approved applicants have good-to-excellent credit, typically in the 700-750 range, based on our research. A soft pre-qualification check is available before you apply formally, which will not affect your credit score.