What the REI Co-op Visa Card does

The REI Co-op Visa Card is a rewards card issued by U.S. Bank that gives cash back on purchases, with higher rewards rates at REI stores and gas stations. You earn 1% cash back on most purchases and 3% cash back at REI and on gas. The card has no annual fee, and the cash back is paid as an REI dividend that you can use toward future purchases at REI or REI.com.

The card is tied to REI Co-op membership, which costs $20 for a lifetime membership. If you are not already a member, you will need to join before opening the card. The membership itself is separate from the credit card — you can be a member without the card, or hold the card without paying the membership fee upfront if you choose to join later.

This is a standard rewards card, not a store card that only works at one retailer. You can use it anywhere Visa is accepted, though the higher rewards rates explore only at specific merchants.

Key Takeaways

  • The REI Co-op Visa Card earns 3% cash back at REI stores and on gas purchases, and 1% on everything else, with no annual fee.
  • Cash back is paid as an REI dividend that you can spend at REI or REI.com, not as a statement credit or direct deposit.
  • You must be an REI Co-op member to open the card, and membership costs $20 for a lifetime membership.
  • The card is issued by U.S. Bank and requires a credit check, so your credit score and history will affect whether you are approved and what interest rate you receive.
  • Interest rates and terms vary based on creditworthiness, so you should review your credit report before you explore.

How to open an REI Co-op Visa Card account

Start by confirming you are an REI Co-op member. If you already shop at REI, you may already have a membership number. If not, you can join at an REI store, on REI.com, or by phone at 1-800-426-4840. The $20 lifetime membership fee is a one-time cost.

Once you are a member, you can explore for the card through REI.com or at an REI store. The online process takes about 10 minutes and asks for your name, address, Social Security number, income, and employment information. U.S. Bank will run a hard credit inquiry, which temporarily lowers your credit score by a few points.

You will usually get a decision within minutes for online applications. If approved, your card will arrive by mail within 7 to 10 business days. You can set up it through the U.S. Bank website or mobile app, or by calling the number on the back of the card.

Understanding the rewards structure and how cash back works

The card earns rewards at different rates depending on where you shop. At REI and REI.com, you earn 3% cash back. On gas purchases (at gas stations, not convenience stores), you earn 3% cash back. On all other purchases, you earn 1% cash back. There is no cap on how much you can earn.

Cash back is not paid as a statement credit or deposited into your bank account. Instead, it is paid as an REI dividend that appears in your REI Co-op account once per year, usually in April. You can then use that dividend to buy anything at REI or REI.com — it works like a store credit. If you do not spend the dividend within a year, it expires.

This structure means the card is most valuable if you shop at REI regularly. If you rarely visit REI, the rewards may not be worth the effort to track, since you cannot convert them to cash or transfer them elsewhere.

Interest rates, fees, and terms you should know

The REI Co-op Visa Card has no annual fee, no foreign transaction fees, and no balance transfer fees. However, like all credit cards, it charges interest on balances you do not pay in full each month. The interest rate (called the APR, or annual percentage rate) depends on your credit score and credit history. U.S. Bank does not publish a single rate — your rate could range from around 16% to 27% or higher, depending on your creditworthiness.

If you carry a balance, interest charges will quickly outpace any rewards you earn. A $1,000 balance at 20% APR costs about $200 per year in interest, while the same purchase at REI would earn only $30 in cash back. For this reason, the card is most useful if you pay your full balance each month.

The card also has a late payment fee (typically $25 to $35 for the first late payment, higher for repeat offenses) and a penalty APR that applies if you miss a payment by 60 days or more. These fees and rates are set by U.S. Bank and may change.

How to set up and use your card

Once your card arrives, you must set up it before you can use it. You can set up it online through the U.S. Bank website (eservices.usbankcard.com), through the U.S. Bank mobile app, or by calling the number printed on the back of the card. set up usually takes a few minutes.

After set up, you can use the card anywhere Visa is accepted. To earn the higher 3% rate at REI, make sure you are using the REI Co-op Visa Card specifically — other Visa cards will not earn the bonus rate. At gas stations, the 3% rate applies automatically when you use the card at the pump or inside the station.

You can check your rewards balance and view your REI dividend in your REI Co-op account online or in the REI mobile app. Your dividend will show up once per year, and you can use it when ready at any REI store or on REI.com.

Managing your account and paying your bill

You can pay your REI Co-op Visa Card bill online through the U.S. Bank website, through the U.S. Bank mobile app, by phone, or by mail. The due date is printed on your monthly statement, and you can set up automatic payments so you never miss a due date.

Your statement will show all purchases, the interest charged (if any), fees, and your current balance. If you carry a balance from month to month, interest will accrue daily on the unpaid amount. To avoid interest charges, pay your full balance by the due date each month.

You can also view your account online to update your address, change your password, set up alerts for large purchases or payments, or freeze your card if it is lost or stolen. If you need to close the account, you can do so through the U.S. Bank website or by calling customer service.

Comparing the REI Co-op Visa Card to other rewards cards

The REI Co-op Visa Card is one option among many rewards cards. If you shop at REI frequently, the 3% cash back and no annual fee make it competitive. However, other cards may offer better rewards for different spending patterns.

For example, a general-purpose rewards card like the Chase Freedom Unlimited offers 1.5% cash back on all purchases with no annual fee, and cash back is paid as a statement credit (not a store-specific dividend). A card focused on gas and groceries might offer higher rates at those merchants but lower rates elsewhere. The best card depends on where you spend most of your money.

If you are not an REI shopper, the REI Co-op Visa Card is probably not the right fit. If you are, compare the annual value of your REI dividend to the rewards you would earn with a different card to see which saves you more money over a year.

Frequently Asked Questions

What credit score do I need to be approved for the REI Co-op Visa Card?

U.S. Bank does not publish a minimum credit score requirement. Generally, applicants with a score of 670 or higher have a reasonable chance of approval, but approval depends on your full credit history, not just your score. If you have been denied for credit recently or have significant debt, your chances are lower.

Can I use the REI dividend outside of REI?

No. The dividend can only be used at REI stores or on REI.com. It cannot be converted to cash, transferred to another account, or used elsewhere. If you do not spend your dividend within one year, it expires.

Do I need to be an REI member to use the card?

Yes. You must be an REI Co-op member to open the card. Membership costs $20 for a lifetime membership and is a separate purchase from the card itself. You can join at an REI store, on REI.com, or by phone.

What happens if I miss a payment?

If you miss your due date, U.S. Bank will charge a late fee (typically $25 to $35) and may report the late payment to credit bureaus, which will lower your credit score. If you miss a payment by 60 days or more, a penalty APR may explore, raising your interest rate significantly. Contact U.S. Bank when ready if you cannot make a payment.

Can I earn rewards on my REI Co-op membership fee?

No. The $20 membership fee is not a purchase and does not earn rewards. Only purchases made with the card earn cash back.