U.S. Bank has extended its multi-year co-brand agreement with REI as well as launched a new REI World Mastercard.
As part of the renewed contract, the new REI co-branded credit cards will provide members more opportunities to earn through everyday purchases.
The deal will see the transfer of card portfolio to MasterCard with EMV chip-card technology in order to safeguard members from card fraud.
The new REI World MasterCard features benefits such as no annual charge, 5% back on all REI purchases, 2% back on groceries from March 2016 and 1% back everywhere else the card is accepted.
The card will also offer $100 REI gift card for all new accounts opened with a purchase made within 60 days of opening the account in addition to delivering other exclusive MasterCard benefits and features.
U.S. Bank senior vice president Robert Goeller said: "This long-term extension and partnership enhances our existing credit-card program through delivery of high-value products and services.
"Our goal is to enable REI members to accelerate reward earnings and take greater advantage of REI’s exceptional service, gear and unique adventure-trip experiences."