Diamond Resorts World Mastercard Reviews - A Detailed Overview
The Diamond Resorts World Masterсard is a timeshare-branded credit card that gives you spending-based points you can redeem for cheaper travel.
The card is the only one of its kind for Diamond Resorts, which makes it an attractive option for those who own properties within the Diamond Resort network.
However, just because the card is designed for a specific timeshare group doesn’t mean it’s the best way to save money on timeshare travel.
To help you decide if this card is the right fit for you, we’ll give you our analysis of the card's features:
- How to redeem your rewards
- Rates and fees
- Pros and cons
Pros: No annual fee, only card we’ve reviewed linked to a timeshare
Cons: Low yearly rewards, complicated redemption options
Estimated Yearly Travel Rewards 35,500
|Sign-Up Bonus||Annual Fee||Regular APR|
|2,500 Points||$0||16.74% to 26.74%|
|Rewards Rate: 2x on Diamond Resorts, 1x on everything else|
This credit card allows you to earn rewards points (“Diamond Plus Points”) three different ways.
2,500 Bonus Points
Barclays will give you 2,500 Diamond Plus Points whenever you make your first purchase.
Remember, this offer is only valid for first-time cardholders. The points will show up in your rewards account within 60 days of making the qualifying purchase, the fine print says.
500 Points per $2K Spent
The second way you can earn rewards points with Diamond Resorts is through a bonus of 500 points Barclays will give you for every $2,000 you spend.
However, there are some restrictions on which purchases count toward that $2,000:
- Timeshare down payments
- Interest charges
- Balance transfers
- Cash advances
- Convenience checks
This particular reward is capped at 5,000 points. So, once you hit $20,000 in spending and get your tenth 500-point reward, you won’t get any points via this perk.
2x and 1x Purchase Bonuses
The final way you can earn points with the Diamond Resorts World Mastercard is by making purchases every day and when you book travel with or pay fees to your Diamond Resorts International account.
2x on Diamond Resorts Purchases
You’ll earn double points on any Diamond Resorts purchases you make with your card.
Again, down payments on your timeshare don’t earn any bonuses, nor do any interest payments or fees that you pay in relation to your credit card. You also won’t earn points for balance transfers.
1x on Everything Else
Anything you buy outside of Diamond Resorts purchases will earn you one point for every dollar.
Based on our calculations, we believe the average American household can spend around $30,000 a year on their Diamond Resorts card, which equals 30,000 Diamond Plus Points.
We believe all this card’s bonuses can earn you 38,000 points the first year and 35,500 points in subsequent years.
You have several different ways of redeeming your points, but some of these redemption methods will offer more value than others.
Statement Credits on Purchases
For example, you can redeem your Diamond Plus Points for a statement credit at a rate of $0.01 for every point. Ten thousand points equal $100.
However, you can only redeem your points in increments of $50 and they have to be applied to a purchase you made that’s at least $50. For example, if you spent $60 on a dinner, then you can put $50 toward that purchase.
Statement Credit for Diamond Resorts Purchases in Past Four Months
Using your points for Diamond Resorts purchases works in pretty much the same way, except that you can put the points toward any Diamond Resorts purchases made in the past 120 days.
Redemptions start at $25 and must be put toward purchases of at least $25.
Statement Credits for Travel Purchases Not Booked Through Diamond Resorts
The same redemption rules apply for any travel purchases you made in the past 120 days that you didn’t book through the Diamond Resorts website.
However, the redemption rate isn’t $50 per 5,000 points, but $50 per 6,667 points, or a redemption rate of $0.0075 per point.
Statement Credits for Gift Cards
Barclays allows you to redeem your points for gift cards purchased through Barclays’ online shopping portal. The redemption rate is poor, however: 5,000 points for a $25 gift card.
Statement Credit for Travel Purchases Booked Through Loyalty Edge
Barclay’s U.S. website has a travel portal called Loyalty Edge, through which you can book airfare and travel.
If you decide to redeem your points and put them toward a purchase from Loyalty Edge, they’ll be redeemed at a less-than-optimal 10,000 points per $75.
Pro tip: If your account goes unused for six straight billing cycles, you won’t be able to earn or use points during the next billing cycle.
One of the great weaknesses of the Diamond Resorts World Mastercard is its benefits – there really aren’t that many listed on the card’s website.
You get the standard zero liability protection, which means that you won’t be responsible for any fraudulent charges made to your account.
In addition to this, you have access to a Mastercard concierge who can give tips and advice on places to eat, things to do and places to stay when you’re traveling.
Most consumers tend to get caught up in a card’s rewards and don’t devote nearly as much attention to the card’s rates and fees.
Promotional APR: 0%
When you sign up for this card, you’ll get two sets of promotional interest rates. First, you’ll get six months of 0% interest on down payments you make for your Diamond Resorts timeshare.
The six months starts the day you’re approved, so if you make your down payment three months into owning the card, you’ll only have three months of 0% left.
The second deal is 0% interest on balance transfers for 15 months. Those transfers have to be made within the first 45 days of owning the card.
Also, remember that any balances left after the promotional period ends will rack up interest.
APR: 16.74%, 21.74% or 26.74%
There are three different interest rates on the Diamond Resorts World Mastercard. The one Barclays assigns to you depends on your credit scores and credit history. The lower the score, the higher the APR.
Pro tip: The card’s cash-advance APR is 26.99%.
Fees: 3%, 5% and Up to $39
Whenever you make a balance transfer, Barclays will charge you a fee equal to 3% of the amount transferred. If that amount is less than $5, they will charge you $5.
You’ll have to pay a 5% fee for cash advances. If the amount is less than $10, Barclays will charge you $10. And, if you pay late on a balance greater than $250, you’ll have to pay a $39 late fee.
Pro tip: The Diamond Resorts card has no annual fee.
- 500 points you earn for every $2,000 you spend on the card. The average American family can easily hit the $20,000 cap and get the corresponding 5,000 points, which has a cash value of $50.
- It’s one of the few travel rewards cards that doesn’t have an annual fee.
- The card is the somewhat complicated points redemption structure.
- The minimum redemption amounts of $25, $50 and $75 can be confusing.
- Also, most rewards cards either don’t have a minimum redemption amount or have a minimum of $25.
- 2,500-point intro bonus. Many of the leading travel cards often offer at least 10 times that many points.
- The card’s 0% APR offer only applies to timeshare purchases, whereas most cards will give you a promo APR for all types of purchases.
If you spend at least $30,000 a year on your card and you book all your vacations at Diamond Resorts, this card is a good fit for you because you’ll be able to maximize the card’s rewards structure.
Based on our research, we think that, even if you do book often through Diamond Resorts, there could be travel rewards credit cards out there that might bring you bigger rewards.
Take a look at our guide to the Best Travel Rewards Credit Card of 2019 to get an idea of what could work for you.
If you want a low-maintenance card with a consistent cash-back rate, consider the Capital One Venture card. It has a 50,000-point bonus offer (worth $500 for travel purchases) and a 2x cash-back rate. All points you earn can be redeemed for travel purchases.