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Buying a home is one of the most costly purchases you’ll make throughout your lifetime, and as prices grow, every dollar saved counts.
The Rocket Visa Signature® Card may help, with valuable savings of up to 5% cash back toward new home loan closing costs with Rocket Mortgage® — but it’s not for every homebuyer. Here’s what to know about earning rewards toward a future home purchase (or existing Rocket Mortgage loan) using the Rocket Card and how to decide if it’s right for you.
- Annual fee$0
- Welcome offerReceive a $200 statement credit when you spend $3,000 in the first 90 days (terms and conditions apply and can be found at rocketcard.com)
- Purchase APR19.24% - 29.24% variable
- Rewards rateEarn unlimited 5 Rocket Rewards points for every dollar spent on your Rocket Card
- Benefits
- Access to Rocket Money Premium — track all your transactions and payments from one place
- Redeem your rewards for up to 5% toward a new home purchase with a Rocket Mortgage® or earn unlimited 2% cash back toward an existing Rocket Mortgage balance
Additional benefits
There aren’t many added benefits with the Rocket Visa Signature Card. You will get some perks from Visa Signature, including:
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Extended warranty protection for up to one year
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Cell phone protection for up to $750 against theft or damage with a $50 deductible (when you use your card to pay your monthly phone bill)
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Porch piracy protection covering up to $10,000 for an eligible stolen item delivered to your home
You’ll also get access to Rocket Money Premium, where you can track and cancel your subscriptions, link other accounts to see your net worth, set up a budget and spending goals, access your credit score, and more.
Related: How to check your credit score
How to earn rewards
The Rocket Visa Signature Card doesn’t have any rewards categories to keep track of. Instead, the amount you’ll earn on each purchase depends on how you redeem your rewards.
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5% cash back when you use rewards toward your next home purchase with Rocket Mortgage
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2% cash back toward your mortgage balance if you already have a loan with Rocket Mortgage
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1.25% cash back for statement credits to your account
How to redeem rewards
You can redeem your Rocket Visa Signature Card rewards in multiple ways, though each redemption option has a different value.
You’ll get up to 5% cash back when you redeem rewards toward your down payment and closing costs on a mortgage with Rocket Mortgage (refinances are excluded). Specifically, you can put your rewards toward “funds required to close,” which may include your down payment, fees, and closing costs on your Rocket Mortgage loan.
You can redeem up to $8,000 worth of rewards this way — though reaching that max would require $160,000 in purchases on your card.
You can also redeem your credit card reward toward an existing mortgage loan if you’re already a Rocket Mortgage customer. You’ll get 2% cash back when you use rewards toward your Rocket Mortgage principal balance, with a minimum redemption of at least $25.
Related: Rocket Mortgage review 2025
Let’s say you spend around $10,000 per year on your credit card, or about $833 per month on everything from regular trips to the grocery store to gas station fill-ups, travel, and regular payments to streaming services and utility providers.
At the 5% rewards rate, you’d have $500 to put toward a down payment and closing costs with Rocket Mortgage.
If you already have a Rocket Mortgage loan, you’d have $200 to use toward your principal balance at a 2% redemption rate.
You also have the option to redeem your rewards for statement credits toward your card balance. However, this redemption will lower your earning rate to just 1.25% cash back per dollar spent. Using the same spending example, you’ll get just $125 annually toward your card balance in statement credits.
Who is the Rocket Visa Signature Card best for?
In terms of maximizing rewards, the Rocket Visa Signature Card is best for homebuyers who plan to take on a home loan with Rocket Mortgage and can use the card to earn up to 5% cash back toward a down payment and closing costs.
But it’s also not that simple. To get the most from the Rocket Visa Signature Card, you’ll want to take time to accumulate a solid bank of rewards that you can use toward your future down payment and closing costs (up to $8,000). If you open a Rocket Card far in advance of when you plan to buy your home, it can be hard to gauge the best mortgage rates you’ll eventually qualify for.
When it does come time to lock in a mortgage, you’ll only get to use the rewards you’ve earned at the full 5% rate if you choose Rocket Mortgage — even if it means missing out on a lower interest rate from another lender.
Because even small interest rate changes can make a big difference over the full lifetime of your loan, you could miss out on a better long-term deal by committing to this credit card and its rewards structure before you buy your home.
Read more: Today’s best online mortgage lenders
This card may also be worth it if you already have a Rocket Mortgage loan. You’ll earn a lower 2% on your spending when you use your rewards toward your existing principal loan balance with Rocket Mortgage, but it’s easy to ensure your rewards will specifically help pay down your mortgage.
Even still, there are plenty of other credit cards with flat 2% rewards or even more across different spending categories. You may be able to use these cards to earn more rewards over time, and still put the cash back you earn toward your mortgage payments on your own.
Related: Best cash-back credit cards
Rocket Visa Signature Card pros
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Up to 5% cash back on every purchase: If you can qualify for the 5% cash back by using your rewards toward a down payment and closing costs on your Rocket Mortgage loan, this card can offer incredible value. Typically, you’ll only get up to 5% rewards in specific categories with a rewards card, not on every purchase you make.
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Rocket Money Premium access: You’ll gain access to Rocket Money Premium with your Rocket Card. This can be a good tool to help you reach your financial goals, with the ability to set up a budget, access your credit score, cancel unused subscriptions, and keep track of spending.
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No annual fee: There’s no annual fee to carry this card, which means you don’t have to worry about recouping any cost in rewards value (as long as you pay your balances in full and on time).
Read more: Best credit cards with no annual fee
Rocket Visa Signature Card cons
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Limited redemption options: While it’s possible to earn up to 5% cash back with this card, redemptions can be restrictive. You’ll need to take on a new Rocket Mortgage loan to use the full 5% rewards toward your down payment and closing costs, and you’ll only get 2% back when you use your rewards for existing Rocket Mortgage payments. The only other redemption option available is for statement credits, at a much lower rewards rate of 1.25%.
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Few added perks: Compared to other rewards credit cards, you won’t get much added value from benefits with the Rocket Card. If you’re looking for annual credits or discounts, you may want to consider another cash-back credit card.
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No introductory offer: The Rocket Card has no introductory 0% APR on new purchases or balance transfers, so you’ll pay the full ongoing variable APR on any balances you carry after account opening.
Read more: Best 0% APR credit cards and best balance transfer credit cards today
Where can you use the Rocket Visa Signature Card?
Because the Rocket Card is a Visa Signature card, you can use it anywhere worldwide that Visa cards are accepted — which includes over 100 million locations across the globe. The card also charges no foreign transaction fees, making it a solid choice for international travel. Without these added fees, you don’t have to worry about extra charges when you make purchases abroad.
Related: Best credit cards with no foreign transaction fees
How to make a Rocket Visa Signature Card payment
The Rocket Visa Signature Card is powered by Deserve and issued by Celtic Bank, but you can make your Rocket Card payments through the Rocket Money app or website. You’ll have the option to set up autopay or make one-time payments. You can also use SmartPay through Rocket Money, which allows you to make several small monthly payments toward your balance.
Rocket Visa Signature Card customer service info
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Phone number: (888) 452-8179
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Monday through Friday 7 a.m. to Midnight ET
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Saturday 9 a.m. to 8 p.m. ET
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Sunday 9 a.m. to 7 p.m. ET
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Chat with a representative after logging into your online account
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Monday through Friday 7 a.m. to Midnight ET
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Saturday 8 a.m. to YouMidnight ET
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Rocket Visa Signature Card FAQs
Can Rocket Money help with credit card debt?
Rocket Money isn’t specifically designed to help you pay off credit card debt, but it can help you get a better overall picture of your finances to jumpstart your payoff process.
ou can set a budget and spending goals to stay on top of your debt payments. The app can even identify your recurring subscriptions, so you can cancel unnecessary regular payments and put that money toward your balances.
Rocket Money also allows you to track your credit score and credit history and get alerts when your credit score changes. Monitoring your credit score alone won’t help with your credit card debt, but it can be a good way to track your progress.
However, the Rocket Visa Signature Card does not have any introductory 0% APR offer for balance transfers, so it’s not a great option if you’re looking for a credit card to help with your existing debt.
Do you need a Rocket Mortgage loan to use the Rocket Visa Signature Card?
You don’t need a current loan with Rocket Mortgage to use the Rocket Card. If you plan to take on a Rocket Mortgage loan in the future, you can start earning rewards on your spending today to use toward your down payment and closing costs. If Rocket Mortgage isn’t your preferred mortgage lender, you should probably look elsewhere for a rewards card; redeeming rewards for statement credits only nets you 1.25% cash back.
Alternative cards to consider
If you’re not planning to take on a Rocket Mortgage loan, you’ll probably get better value on your spending elsewhere. Here are some great rewards cards to consider today:
- Annual fee$95
- Welcome offerEarn 75,000 miles after spending $4,000 on purchases in the first 3 months
- Rewards rate
- 5x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel
- 2x miles on all other purchases
- Benefits
- Receive up to a $120 statement credit for Global Entry or TSA Precheck application fees
- Receive a $50 experience credit, room upgrades, and early check-in at eligible hotels
- Access Hertz's Five Star membership tier, offering free upgrades, a wider selection of vehicles, and more
Why we like it: Like the Rocket Card, you can earn a flat rewards rate on every purchase you make with the Capital One Venture Card; the difference is the added flexibility in how you use your rewards. You’ll get 2x miles on every purchase you make plus a boosted 5x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel. This is a travel credit card, so it makes most sense for people who travel at least a few times per year. When you’re ready to redeem, you’ll get the best value when you use your miles to book a trip through Capital One Travel, get reimbursed for travel purchases charged to your card, or transfer them to Capital One’s 15+ travel partners.
Read our full Capital One Venture Rewards Credit Card review
- Annual fee$0
- Welcome offerEarn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back
- Rewards rate
- Enjoy 5% cash back on travel purchased through Chase Travel℠
- 3% cash back on drugstore purchases and dining at restaurants (includes takeout and eligible delivery service)
- 1.5% on all other purchases
- Benefits
- You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts
- Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more
- Generous intro APR on purchases and balance transfers
Why we like it: Chase Freedom Unlimited is another card with flat rewards — 1.5% cash back — on every purchase. But you can also earn more cash back in certain categories: 5% cash back on travel through Chase Travel℠, 3% cash back on drugstore purchases, and 3% cash back on dining. And for the first year, you’ll get an extra 1.5% on every purchase, up to the first $20,000 you spend (for $300 in bonus cash back). Redemption options with this card are flexible and you can take advantage of a solid intro APR offer on new purchases and balance transfers.
Read our full Chase Freedom Unlimited review
- Annual fee$0
- Welcome offerEarn a $200 cash bonus after spending $500 within the first 3 months
- Rewards rate
- 5% cash back on hotels and rental cars booked through Capital One Travel
- 1.5% cash back on all other purchases
- Benefits
- 0% intro APR on purchases and balance transfers for the first 15 months
- No foreign transaction fees
Why we like it: Like the cards above, you’ll earn simple, flat cash-back rewards with the Capital One Quicksilver. Get 1.5% cash back on every purchase you make and 5% cash back when you book hotels and rental cars through Capital One Travel. If you’re looking for straightforward rewards you can earn no matter where you spend money, this can be an easy choice. While 1.5% may be less than the Rocket Card’s top redemptions, it’s greater than the 1.25% for statement credits you’ll get if you don’t use your rewards toward a Rocket Mortgage loan. The Capital One Quicksilver also offers a 0% introductory APR on new purchases and balance transfers, which can be useful for a large upcoming purchase or for paying down existing debt.
Read our full Capital One Quicksilver Cash Rewards Credit Card review
Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
