Posted by William Charles on October 4, 2019
Credit Cards

Published on October 4th, 2019 | by William Charles

26

[NY & CT only] Ridgewood Savings Bank Launches New Credit Cards ($200 & $500 Bonus)

Ridgewood Savings Bank has launched three new credit cards:

  • Mastercard® Platinum
  • Mastercard® Platinum Rewards
  • Mastercard® World

The first card isn’t that interesting as it comes with no sign up bonus and the earning rate is low. The Platinum rewards card comes with a 20,000 point bonus if you spend $2,000 in the first three months and 0% introductory APR on balance transfers. The card of real interest is the Mastercard World card, let’s take a look in more detail.

 

Contents

Ridgewood Savings Bank Mastercard World

  • Annual fee of $95 is waived first year
  • Sign up bonus of 50,000 points after $5,000 in spend within the first three months
  • Card earns at the following rates:
    • Earn 3 rewards points for every $1 you spend on travel and dining
    • 2 rewards points for every $1 you spend on gasoline
    • 1 rewards point for every $1 spent on other purchases

Our Verdict

Points look to be worth 1¢ each so this is effectively $500 back for $5,000 in spend. I have no idea how difficult it is to get approved or what credit bureau they pull. If anybody does sign up for any of these cards please share your experiences with other readers in the comments.

Hat tip to reader Chong786

 



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Chong786
Chong786

Also all Three Ridgewood Savings Bank Mastercard Credit Cards Come with These Benefits:

Extended Warranty Protection
Price Protection
Mastercard Global ServicesSM
MasterRental® Coverage
Identity Theft Resolution Services

DaveOp
DaveOp

Any idea how the points can be use? Is it cash back, transfer to airlines, etc?

Joshua
Joshua

Read the fine print underneath.
“Platinum Rewards Mastercard Bonus Offer: A Bonus will be awarded as 20,000 Rewards Points, which can be redeemed for a $200 statement credit.” “World Mastercard Bonus Offer: A Bonus will be awarded as 50,000 Rewards Points, which can be redeemed for a $500 statement credit.”

Vy
Vy

Isn’t the AF on the World Mastercard waived the first year? Please clarify.

https://myapexcard.com/preterms?pid=2911188770&brand=Ridgewood%20Savings%20Bank

Also, no forex fees.

Rachel
Rachel

Yes, I’m also seeing ‘fee waived in year one’ for the world mastercard.

cowsareverywhere
cowsareverywhere

Fee is waived first year.

No pull as far as I can see, Application went pending I guess, with a message saying to call them with a reference number. 34/24.

Avi
Avi

Any update on how it went?

bmanamex
bmanamex

Applied 10/4. Went to review, and the application prompted me to call in, but they did not ask for more info. The CSR said that I will receive a decision in 7-10 business days from their underwriting department. LOL/24, not expecting an approval.

Yosh
Yosh

Approved? Are you in state?

Bmanamex
Bmanamex

I was denied. They didn’t even pull my credit reports. No communication either, had to call in. I’m gonna try going in branch in NYC to figure out why one of these days.

Bmanamex
Bmanamex

Got the denial letter in the mail today. They supposedly pulled Experian, but I haven’t seen the inquiry and usually get an update whenever an inquiry hits. Reason for denial is too many recent inquries. I have a lot, 15+ in the last 12 months

40orFight
40orFight

Thanks for updating, much appreciated.

Marshall
Marshall

Denied as well due to high fraud potential. they give you a letter with a “fraud” score out of 999. i was a bit past the middle LoL. Only got ~8 inquiries in last 2 years, 6 new accounts

Aaron
Aaron

Apologies if I missed it, but I could not find a state restriction.

Alex
Alex

Has anyone been approved? looking for the premium one to take advantage of 6M of 0% APR…

Aaron
Aaron

Also, anyone approved outside of ny and ct?

Josh Click
Josh Click

I just got approved with a NJ address. Many inquiries this year and a few new cards.

Neil
Neil

Did they report to your personal credit report?

Firefly
Firefly

Denied due to too many inquiries. I still haven’t closed my Ridgewood checking from the bonus earlier this year. So I guess having an account doesn’t help here.

Samosa
Samosa

Applied for the World Mastercard, during app process the system didn’t even ask ID verification questions. At the end of app received an onscreen message “We may need some additional information from you to complete our review, please call us at ..”.
Called CSR and she said if the underwriter needs any info they will call me, or I should receive either a letter or card in 7-10 days. I guess it’s a denial….though I have excellent score and 4/24 on paper (in reality 6/24 as I got 2 cards in last 2 wks but those haven’t been reported yet).

JerMah
JerMah

Same exact response for me. Called in, they said it’s under manual review. I’m LOL/24 but with minimal utilization and a score in the mid-800s.

Randy
Randy

Same issue as Samosa. Got a letter in the mail saying denied for not enough information possibly also too many inquiries (6/24). Fraud risk was around 500. Called card member services and they suggested I go into a branch, which is not an option due to distance.

Don
Don

I was approved for the World card. I live in CT. They pulled Experian and my score was in 780-800 range. 4/12 and 8/24. The application initially went pending with a message to call in and provide more info. I took no action and received the card a week later.

K-Man
K-Man

🤷‍♂️ looking at all the data points on the top doesn’t make any sense. Enjoy

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