The partnership supports both companies’ values, while providing enhanced rewards and benefits for co-op members and the outdoor community
REI Co-op, the largest consumer co-op and outdoor specialty retailer in the United States, and Capital One, introduced their card partnership and launched the new REI Co-op Mastercard program. This new program offers existing and new cardholders a compelling set of benefits and inspires members’ daily pursuit of a life outside by rewarding everyday purchases to support their outdoor adventures.
The new REI Co-op Mastercard, made of 85% recycled materials, offers benefits for REI members that recognize their passion for the outdoors, including:
- 5% back in REI Co-op Mastercard Rewards for purchases at REI, including on sale items, used gear, store services and REI gift cards
- 1.5% back in REI Co-op Mastercard Rewards on purchases everywhere else
- No annual fee and no foreign transaction fees
- Card rewards that will not expire for the life of the account and members can redeem rewards as they earn them
- A welcome bonus offer of a $100 REI gift card for new cardholder accounts, after the first out of store purchase made within the first 60 days of opening the account
- A $50 REI Co-op annual statement credit when they use their card to book an REI Co-op Experience
- The ability to earn double card rewards on REI purchases during an annual special event period
- The ability to choose to display their preferred name on their card*
- Mastercard’s World Elite exclusive offers on ridesharing, food delivery and online shopping; discounts on movie tickets and access to Priceless Experiences; and peace of mind with protection from identity theft and fraudulent purchases.
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Cardmembers will also receive 5% back in card rewards for donations made to the REI Cooperative Action Fund, a 501(c)(3) community-supported public charity that directly supports organizations promoting justice, equity and belonging in the outdoors. Capital One will also support the fund with an annual donation as a key pillar of the card partnership.
“We chose Capital One to be our Mastercard partner because of their ability to support the co-op’s expanding needs, and align to the co-op’s broader philanthropy goals,” said Pardis Ghorbani, REI vice president of customer and brand services. “Most importantly, this card offers our members a wide range of benefits and more great ways to help them pursue their outdoor passions.”
Capital One offers industry-leading digital capabilities that help create a seamless experience for cardholders, including a top-rated mobile app. In addition to Capital One’s digital focus, REI chose the company as its new card partner with an appreciation for common values, including demonstrated commitment and action in the areas of community engagement, financial well-being, sustainability and diversity, inclusion and belonging for its community.
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“We are thrilled to be partnering with REI Co-op, a company that cares deeply about their members and their passion for the outdoors,” said Buck Stinson, SVP of Card Partnerships at Capital One. “We look forward to providing our best-in-class offerings to cardmembers, starting with a compelling value proposition that supports REI Co-op’s brand and mission.”
“We’re so happy to grow our partnerships with Capital One and REI Co-op, two companies that share Mastercard’s commitment to building a world in which our people and planet thrive,” said Bunita Sawhney, EVP, U.S. Financial Institutions at Mastercard. “With this latest card program launch, we’re bringing exciting benefits to cardmembers who are passionate about the outdoors.”
In 2022, Capital One was named to Time’s “100 Most Influential Companies” list for its decision to eliminate overdraft fees and non-sufficient funds fees for all Capital One consumer bank customers, and are consistently recognized on ‘best places to work’ lists including Forbes “Best Employers for Diversity.”
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