Tag: cash back cards

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The Sam’s Club MasterCard vs. Other Cash Back Cards

Everyone loves a cash back card, which is why so many banks and stores offer them to customers. It used to be just the big banks that gave cash back rewards based on spending. Now it is common for stores to get in on this market and get more customer loyalty in the quest for cash being returned to them.

Some stores have even begun to offer cards that come in MasterCard or Visa versions that they can be used for other purchases, like gas, dining, groceries, travel, and other big categories. The Sam’s Club MasterCard is one of these cards. They are offering a nice tiered cash back program to cardholders.

If you are a frequent shopper at Sam’s Club warehouse stores, this might be a good choice for you. Let’s take a look at the benefits that they are offering to customers.

New Sam’s Club MasterCard

Highlighted Cash Back Features

The Sam’s Club MasterCard offers simple yet substantial cash back rewards for their customers. First, you will earn 5% cash back for all spending at gas stations, up to $6,000 per year. After you spend the first $6,000, you will continue to earn 1% cash back on gas station purchases. Here’s one catch—you will earn 5% cash back at Sam’s Club gas stations and other major gas retailers, but there are no cash back rewards for spending at other warehouse store gas stations.

You can earn 3% cash back on all dining purchases and any travel purchases that you make, with no spending cap. Earn 1% cash back on all other purchases using the Sam’s Club MasterCard.

With the Sam’s Club MasterCard, you can earn up to $5,000 cash back per year. The cash back rewards are paid to you in the form of a check, delivered to you once per year. The only place that you can cash the check is at a Sam’s Club store (but you don’t have to spend the entire reward there).

Great Security Options

With so many credit card breaches in the news lately, people are paying more attention to getting credit cards with higher level security features. The Sam’s Club MasterCard is chip-enabled, which gives you a better layer of security. Plus, they offer quick and simple identity theft solutions through their customer service center.

Sam’s Club MasterCard is the first major retail card to offer this level of technology. Since many of the credit card breaches have come from major retailers, this is something that may make customers more comfortable and secure when using the credit card. Also, extended warranty coverage is available, so you can be more confident in protecting your purchases.

No Annual Fee

The Sam’s Club MasterCard does not have an annual fee, but you do have to be a Sam’s Club member to apply. Membership to Sam’s Club is $45 per year.

More Benefits for Sam’s Plus Members

For those cardholders who are also members of the Sam’s Plus program, you can receive several additional benefits. These include early morning admission to the store, discounts on pharmacy and optical services, and exclusive offers within the store. Sam’s Plus members will earn an additional $10 every time they spend $500 in the store on qualifying purchases and earn up to $500 cash back annually. These rewards can be combined with the other cash back rewards to boost your annual return, or used separately throughout the year.

The Nitty Gritty

Again, the Sam’s Club MasterCard has no annual fee, but you must be a member of Sam’s Club to apply ($45 yearly membership fee). The APR is 14.99% or 22.90%, depending on your credit history. If you make a single purchase of $50 or more on the first day you use the card, you will get a $20 statement credit within the next two billing cycles. Foreign transaction fees are 3%.

Any Downsides?

Although the Sam’s Club MasterCard offers some great cash back options, you will only receive that cash back reward once per year. If you are the kind of person who likes to get one lump sum, this might be great for you, but the redemption options are not very flexible otherwise. Remember, you can only cash this check at Sam’s Club. If you regularly shop at the store, this may be convenient.

You must be a Sam’s Club member to cash the check, so don’t consider closing this account if you have any cash back rewards due to you. There is a small sign up bonus of $20 if you spend $50 on your first purchase. Other cards offer greater cash back rewards for sign up bonuses.

Other Options

While the Sam’s Club MasterCard can compete on some levels, especially with Sam’s Club devotees, there are other great cards out there that offer significant rewards for those who spend a lot of money on gas, dining, and travel. Other cards offer much more convenient redemption options when it comes to getting the cash back.

Barclaycard Arrival Plus

The Barclaycard Arrival Plus is a great option for those travelers who like to earn big cash back rewards on every purchase, and have flexible redemption options available to them. With the Barclaycard Arrival Plus, you will earn 2 points for every dollar spent, on all purchases. You will earn 40,000 points as a sign-up bonus when you spend $3,000 within the first three months.

Redeem your miles for travel credits or statement credits, at any time. Earn an additional 10% bonus miles when you redeem your miles for travel rewards. There is an $89 annual fee, but this is waived for the first year. Barclaycard Arrival Plus offers great security, with EMV-chip technology.

There is also a 0% introductory APR on all purchases made during the first 12 months. Frequent travelers may find this option very appealing because of the high earning power and flexible redemption opportunities.

Discover it

For those shoppers who like to earn great cash back rewards and have very flexible redemption options, the Discover it has some terrific perks. Earn 1% cash back on all purchases, in all categories. Earn 5% cash back on rotating bonus categories, which change quarterly and are generally the most popular shopping options. Currently, Discover it is offering 5% cash back on online shopping and department store purchases for this quarter.

There is no annual fee for the Discover it card, so you have nothing to lose. Redeem your cash back rewards at any time, either earning a check, using the cash at the online shopping portal, getting gift cards, or getting statement credits.

Final Thoughts

For those who really love shopping at Sam’s Club and spend most of their money at gas stations, the Sam’s Club MasterCard is a good option. But, if you want a little more flexibility in terms of cash back earnings and redemption options, you might want to consider either the Barclaycard Arrival Plus or the Discover it as alternatives.

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Comparing the Discover it and Chase Freedom 5x Categories

There’s nothing like getting paid to pay. It some ways, the now popular cash back cards feel like they’re providing free money. As folks say, ‘if it seems too good to be true, it probably is’. Yes, cash-back cards are not the gravy train. As with any credit card balance, the 5% cash-back is quickly outweighed by the much more significant Annual Percentage Rate. However, a well-chosen cash-back card can be a valuable tool to keep in your wallet.

Two of the favorited cash-back cards are the Discover It and the Chase Freedom cards. They have reached this popularity because of their appealing 5% cash-back feature. In both cases, this attractive percentage is accessible to purchases that fall within certain categories. In order to choose one card over the other, the long-term factor that will affect your cash-back are these categories.

Discover ItChase Freedom

The Similarities

For both cards, the categories that earn 5% change quarterly. Every three months, you need to shift your mental spending to take advantage of the increased percentage. If you purchase outside of the categories, you’ll receive 1% cash-back. The price is right for this card, as neither one has an annual fee. Both cards have the same spending limit on which you can earn the prized 5%. You can spend up to $1500 in the quarterly categories and therefore receive up to $75 in cash-back.

Category Authorization

Both cards also use a category activation system that requires the cardholder to activate their access to these categories. This activation means that you have to log in to your account online or call to confirm that you will be purchasing in these categories and want to earn 5% instead of that measly 1%. This extra step is seemingly unnecessary and a pitfall for those who forget to activate. You’d think that it’s straightforward that people who are using the card would want to access the better cash-back rate.

For the category authentication, both cards have their strengths within this system. Discover It has no end date for when you can authorize your card to access these categories. The Chase Freedom card authorization period ends about two weeks before the quarter closes, which could leave some people out in the cold. The Chase Freedom card , however, has a clear email and text reminder system to make sure that you don’t miss your window (and have the widest window possible). And once you activate it, it provides the 5% on all combined purchases made within the quarter.

Current Quarter

To begin, let’s look at this quarter: July to September 2016. The Discover It card will give you 5% back for purchases at home improvement stores and on Amazon.com. If you’re planning some small home renovations, this category could provide a big benefit. You could easily earn 5% ‘off’ of your reno, as the category is quite open as to the range of business it allows. Instead of providing a list of authorized establishments, Discover provides a description of the type of business. However, if you’re not planning renovations, the category isn’t that useful. Some Amazon.com purchases could provide certain cash-back opportunities, but likely you won’t near the same benefit.

The Chase Freedom card offers the 5% for restaurant tabs and purchases at wholesale clubs. Chase provides a lengthy list of the eligible restaurants, which they describe as places where their primary business is eat-in or sit-down dining. For example, almost every fast-food restaurant you can imagine is listed. However, hotel and casino restaurants, as well as grocery store cafes and bakeries are not eligible. However, you can earn 5% back at the grocery section of wholesale clubs, like Costco. This category is more useful to the average consumer, as food purchases, whether at restaurants or bulk groceries, are a common expense.

In the current quarter, you could be a big winner with Discover It’s home renovation plans and the more significant purchases that come along with that. However, most consumers will have better luck earning 5% back within the Chase Freedom restaurant and wholesale club category. You may not max out your $1500 allowance, but the category is still more accessible.

Next Quarter

Looking forward, we head to the last quarter of the year: October to December. Of course, this quarter holds the holiday shopping season. Both cards are holding out on the final category details. Perhaps the suspense adds to the end of year cheer, but it can make it difficult to pick the better holiday shopping companion.

We do know that the Discover It card will provide you with 5% on all your Amazon.com purchases. For those who don’t want to leave their home for the mall, this cash-back category could be a boon. The Chase Freedom card will continue to offer the 5% on wholesale club purchases. Looking towards the hearty eating season that it is, you could get all your holiday groceries at a great cash-back rate. However, the biggest winners of the quarter are yet to be announced.

Past Categories

Looking back to the fourth quarter of 2015, we can see what kinds of categories could appear. Of course, the categories change and are rarely the same year to year, but it provides some context. The Discover It card provided 5% at Amazon.com, department stores, and clothing stores. The Chase Freedom card provided the great rate at Amazon.com, zappos.com, audible.com and diapers.com. Here, the Discover It card seems to come out the better option based on the wide range of store types, rather than specific websites. However, the preference really depends on whether you like to shop online or in person.

Conclusion

For this year, the Chase Freedom cash-back card is the best card to earn higher cash-back on everyday purchases. Everyone needs to eat, and you could earn on food bills or restaurant tabs. Home renovation and online shopping at Amazon.com is more niche, though highly useful for those consumers who fall into that niche. However, the release of the fourth quarter categories will be a key comparison point. Keep an eye out for the announcement, as it will likely come out in mid-September.

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Review of American Express Blue Cash Everyday rewards Card with Tina Fey

Haven’t you always wanted to be shrimp-rich? How about high-end doggie toys? Or have enough cheesies to ride out any storm? Well, all of these desires can come true while you can earn between 1 and 3 percent cash-back on them, just likely the hilarious Tina Fey. Fey is featured in a series of ads for American Express Blue Cash Everyday® Rewards card showing how you can earn cash-back in some delightfully funny everyday ways.

AMEX Blue Cash with Tina Fey

Earning Cash Back

Although you may not be as indulgent or as quick-witted as Fey, this American Express card will also allow you to enjoy earning money back on your regular purchases. The biggest winner is at the supermarkets. You can earn 3% cash back at certain U.S. supermarkets such as Stop and Shop, Foodtown and Whole Foods. Just like Fey, you can earn 3% on your food bill up to $6,000 annually, after $6000, your earning goes down to 1%. Next up are the gas stations. Earn 2% on your gas station purchases. There’s no limit, but the stations must be on an approved list, such as Gulf and Shell. Purchases at at grocery store gas stations, like Costco don’t make the 2% cut though. The 2% also applies to certain department stores, like J.C. Penny, Sears and Saks Fifth Avenue. For anything else you put on your card, you’ll receive 1% cash-back. With these categories and the range of eligible stores, you’ll easily be able to quickly earn cash-back. Plus, all of these earnings are available for a $0 annual fee.

Spending Your Cash-Back

Once you earn $25 in cash-back, you can start spending it. You put any special item or travel you’re interested in on your Amex card, and you can pay it off using your Cash-Back account. You can apply the cash in increments of 25. There are a couple downsides of the Blue Cash Everyday Cash Back. Unlike some other cash-back systems, you cannot get cash in hand. Cash back is only applicable to purchases on your card. There’s no way to retrieve the money from your account except as credit. In addition, you can’t use this Cash-Back for your Minimum Due payment.

Sign-Up Bonus and Annual Percentage Rate

If you’re signing up for this card for the first time, you can take advantage of their welcome bonus. If you spend $1000 in the first three months of your account approval, you’ll receive 10% back in cash. And you can earn cash-back on purchases made on your card and any additional cards associated with your account. That $100 can be spent on any purchase you make. Perhaps an even better introductory offer is the 0% Annual Percentage Rate (APR) for new purchases. This intro APR is also charged on balance transfers requested within 30 days of opening your account. You could move a balance and pay it off over those first 12 months, which saves you the interest that you would pay elsewhere. The first 12 months are a very inexpensive time to borrow money. After that, the APR will go up to somewhere between 13.24% and 23.24%, depending on your creditworthiness.

Travel Perks

American Express is generally a great travel card. The insurances that come with the card are handy, though, with the Blue Cash Everyday card you receive cash-back for everyday purchases, not for those when you’re traveling. Though you may encounter lots of points for shopping at the approved list of retailers during domestic travels, you won’t be earning 2 to 3% cash back on those purchases.

You can use your cash-back for booking trips and cruises through American Express Travel and its partners. You also receive the range of travel benefits and insurances that come along with the card. When renting a vehicle, your AMEX card covers your Loss and Damage insurance. Heaven forbid something happens on the road, but if it does, your card provides a roadside assistance hotline. Call them to organize a boost or a tow, and they’ll coordinate it. If you’re near home, it’s likely not that useful of a service, but when traveling, it can be a huge relief to let someone else take care of all those calls. But remember, you’re responsible for all charges. Worse, imagine if you’re abroad and your passport gets stolen. Or you catch a severe flu and you need to find an English-speaking doctor. The Global Assist Hotline will direct you in your emergency if you’re traveling more than 100 miles from home. You are also responsible for any fees for the services arranged. The card also includes a travel accident insurance, which I hope you will never use.

Shopping with Protection

You can do your shopping with a bit more peace of mind because of the extended warranties and purchase protection. Purchases made on your card with between 1 and 5 year warranties get an automatic additional year of coverage. If that new shiny item gets stolen or damaged within the first three months, you’re also covered. If those new kicks that arrived in the mail don’t fit and the shop wouldn’t allow you to return them, you can get up to $300 back for that mis-sized set under the Return Protection coverage. With the Blue Cash Everyday card, you also get access to ShopRunner, an online store similar to Amazon Prime, but with specific member deals and high-end brands.

Conclusion

The American Express Blue Cash Everyday card is a great option to earn cash-back on those everyday purchases. Since you’ll be buying groceries, gas and clothing anyway, it might as well provide a nice cash-back return to you. Although the cash-back is only eligible for card credit, you card can be used to buy almost anything, so it’s not a huge hindrance. Plus, these earnings are available for no annual fee. The travel and shopping perks are not unique to this particular American Express, but they are nice. The real benefit of this card is the cash-back for no fees and for a great introductory APR. If you use it right, this card will simply pay you back for your everyday spending. As Fey notes with her twenty bags of cheesies, you could be “Living the Dream”.

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Fidelity Rewards Visa Signature Credit Card Review

In recent years, cash back rewards credit cards have not been as lucrative as in the recent past.  Very few cash back credit cards offer a rewards rate above 1% for most purchases.  The Fidelity Rewards Visa Signature credit card defies that trend by offering 2% cash back on all purchases that can be credited to any Fidelity brokerage, college savings, or checking account.  This can be an excellent option for Fidelity investors that want a solid cash back rewards rate.

Fidelity Rewards Credit Card

In 2016, Fidelity partnered with Elan Financial Services (part of U.S. Bank) and switched credit card issuers (Visa instead of American Express).  This should be a plus for existing Fidelity cardholders due to several negative comments regarding Fidelity AmEx’s customer service.  In addition to the fact that Visa is more widely accepted than American Express across the globe.

While 2% cash back might not be the most exciting reward in the land of credit card rewards, it still isn’t anything to scoff at.  For a flat-rate cash back credit, only the Citi Double Cash can rival the Fidelity Visa for a 2% everyday rate.  Most flat-rate cards have a rewards rate of 1.5% or less.  Other cash back cards will offer a higher payout in a revolving category (example: 5% on gas purchases in the summer then 5% on home improvement purchases in the fall) and pay a 1% rate on all other categories.  With the Fidelity credit card, you know you will be getting an industry leading flat-rate reward for every purchase without the hassle of trying to time when a category will offer an increased reward rate.

No Sign-Up Bonus?

One downside of the Fidelity Rewards Visa Signature is the lack of a sign-up bonus.  Chances are any credit card offer you receive by e-mail or snail mail has a sign-up bonus when you meet a spending minimum within the first couple months of opening the account.  While a sign-up bonus might be considered a “cherry on top” for some applicants who are loyal to a specific airline or hotel brand and would sign-up for the card regardless, some might view it differently with a cash-back credit card.

Fidelity offers a higher reward rate and allows cardholders to put the savings directly into a savings or investment account, but other cash back cards will offer a small welcome bonus.  If the Fidelity credit card is going to be a secondary credit card, it might make more long-term financial sense to choose a cash back card, like the Chase Freedom Unlimited, with a lower everyday payout but offers the welcome bonus.  How much more would you have to spend with Fidelity at 2% with no sign-up bonus to offset the credit card with a 1.5% cash back rate and a $150 sign-up bonus?  Just some food for thought.

2% Cash Back Rewards

Although the Fidelity Rewards Visa Signature is lumped into the flat-rate cash back rewards category, cardholders accumulate reward points instead of receiving a monthly statement credit or cash distribution once a certain award amount is received.  Fidelity awards two points for every $1 purchased.  The points can be redeemed for cash at a 1:1 ratio that is deposited into a Fidelity brokerage, college savings, retirement, or checking account.  The points can also be redeemed for other rewards like travel options, merchandise, statement credit, or gift cards. Albeit, the exchange rates probably will not be as advantageous as the cash redemption value.

As the cash rewards are the biggest highlight of this credit card, here is some more information.  The cash rewards can only be deposited into a linked Fidelity brokerage, Fidelity Cash Management (checking) account, Fidelity-managed 529 college savings plan, or a Fidelity retirement account.  The rewards can also be deposited into the account of a friend or family member if desired.  Although this policy might seem restrictive, Fidelity is quite flexible in payout options compared to the Charles Schwab credit card that will only deposit rewards into the cardholder’s brokerage account.  Plus, Schwab only has a cash back rate of 1% on all purchases.  Fidelity investors have the better credit card offering than Schwab loyalists.

One catch to the rewards point system is the redemption minimums.  Cash rewards cannot be redeemed until you have spent $2,500 and 5,000 points have been accumulated.  Cardholders wanting to redeem points for non-cash rewards after earning 2,500 rewards points.

One final note regarding Fidelity rewards points, they never expire and no annual earnings cap exists.

Digital Wallet-Ready

Beyond the 2% cash back rate, the Fidelity Rewards Visa is also ready for future in 21st-century personal finance.  Cardholders can link their card to any of the “big three” digital wallets: Apple Pay, Samsung Pay, and Android Pay.   Digital Wallets are still very new to digital cash scene, but they are gaining traction every year.  It’s not uncommon for a credit card to have the ability to link to one of the wallets listed above, however, it is unique to have the option to connect to all three.

Fees & Other “Nitty Gritty” Details

The Fidelity Visa does not charge an annual fee, allowing the cardholder to keep every penny earned through the rewards program. International travelers will have to pay a 1% foreign transaction fee, which is still acceptable as other non-travel rewards credit cards charge a fee up to 3%.  Current interest rates on purchases and balance transfers is 14.24% and cash advances command an interest rate of 24.24%.

There are a few “fine print” details that need to be reviewed regarding the Fidelity rewards program.  Anybody can have the Fidelity Visa credit card, but only cardholders with an eligible Fidelity account can accumulate reward points.  Reward points cannot be used to open a Fidelity account, so it’s best to create an account before applying for this credit card.  As Fidelity is more flexible than Charles Schwab regarding types of eligible accounts, this can be a great way to finally create a retirement account or college savings plan for your child.

In addition to the ability to earn 2% cash back without an annual fee, cardholders also have access to Visa Signature perks such as exclusive offers and discounts to restaurants, travel, and entertainment.

Closing Thoughts

This credit card is best for those that invest with Fidelity and want a no-hassle cash back rewards card either a primary or secondary credit card.  The 2% cash back rate is a great enticement for value seekers and this credit card is one of the best among cash back credit cards.  The lack of a sign-up bonus will deter those that do not have an affinity to become a Fidelity customer as other cash back credit cards offer similar ongoing rewards payouts plus the bonus statement credit.

Overall, the Fidelity Rewards Visa Signature credit card is a great primary or secondary cash back credit card for existing Fidelity customers, but, the rewards might not be enough to entice prospective cardholders that are not loyal to Fidelity.

 

 

 

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Discover it Review

Discover made a very bold move in the year 2013 when it suddenly stopped offering all its existing credit card products to the new applicants and replaced them with one single card offering called ‘Discover it’, targeted at all kinds of credit card users! The company has made several feature additions to this card ever since, and has made it one of the most sought-after cards today! There’s also a new Discover it Miles product as well.

Discover it is overall an excellent, no-fee cash back rewards card that offers you an attractive 5% cash back on all your purchases on rotational categories (rotating per quarter), apart from 1% cash back all year round. It falls into the elite category when it comes to introductory offers, as you get amazing intro rates on balance transfers and purchases.

Despite it not having the kind of penetration its main competitors – MasterCard and Visa enjoy, Discover’s network is growing constantly every month and it offers a great deal of flexibility in the way you can use your rewards. Let’s go over the pros and cons of the card.

 

Discover it

 

The Good

Attractive rewards and an unmatchable sign-up bonus

With Discover it card you earn 1% cash back on all your purchases throughout the year. Apart from that, Discover selects certain bonus categories every quarter wherein your cash back rewards increase to 5% on a maximum of $1500 spent on products falling in that category. The 5% cashback categories for the year 2016 are:

January to March 2016: Gas and ground transportation
April to June 2016: Restaurants and movies
July to September 2016: Home improvement stores and Amazon.com
October to December 2016: Amazon.com and more

So, if you spend $1700 in total on restaurants and movies between April and June, 2016, your total cash back will be $75 + $2 = $77 (5% of $1500 + 1% of $200).

Discover is presently offering an unmatchable sign-up rewards bonus on its Discover it cards! It doubles up the entire cash back bonus earned in your first year with the card. So, the 5% cash back becomes 10% and the 1% cash back becomes 2% at the end of the first year! However, not everyone may like to wait that long for the sign-up bonus to arrive!

Great introductory rates

Discover it comes in two variants that differ mainly on the introductory APR offer. There’s a regular Discover it card and a Discover it – 18 month balance transfer offer card.

With the regular Discover it card, you get an introductory APR of 0% on all your purchases and balance transfers for the first 12 months. The Discover it – 18 month balance transfer offer card, on the other hand, provides you a 0% APR on your purchases for the initial 6 months and an extended 0% APR on the balance transfers for the first 18 months.

So, you can buy anything you need and pay back the dues at your own pace. You’ll be charged an APR varying between 11.24% and 23.24% after 12 or 6 months respectively. Please note, there’s a 3% fee applicable on balance transfers.

Discover Deals

Discover Deals is an online shopping mall run by Discover. You can maximize your cashback percentage by shopping on Discover Deals with your Discover it card. Discover deals has a tie-up with over 200 online retailers and currently offers an extra 5% to 20% cash back on purchases made with them. If you’ve just bought your Discover it card, the year-end cash back doubling offer can make these deals even more attractive. For instance, Papa John and Macy’s currently offer cashbacks of 25% and 10% respectively. With the year-end bonus coming into play, those rates can double-up to a whopping 50% and 20% respectively!

Solid fraud protection

Discover it provides a $0 fraud liability guarantee, ensuring that you never pay for any unauthorized charges on your credit card. All the purchases made with Discover it card are closely monitored by the company and you’re quickly alerted via text, phone call or email in case of any suspicious activity on your account. Every Discover it card has a ‘Freeze It’ feature which freezes your card in case it gets lost or stolen, thus preventing any unwanted charges on it.

U.S.-based customer service

Customer service is high on Discover’s priority list! Any time you have an issue with your Discover it card, you won’t need to wait for long to speak with a human. Discover ensures that you’re put through to a well-trained and well-informed U.S.-based customer service rep at the earliest. Please note, Discover bagged the ‘Highest in Customer Satisfaction Award’ from J.D. Power and Associates in the year 2014, outscoring many popular competitors.

Flexible due dates

You get to choose your own due date and can make the payment by phone or online. This is a huge advantage as it allows you to space out your monthly bills in accordance with your cash flow. Other credit cards have preset due dates which often coincide with your other monthly bills, making it hard for you to handle so many expenses at once.

Other perks

If all the above pros aren’t enough, Discover also provides you with free access to your FICO score online and on your monthly statements, doesn’t charge any foreign transaction fee or late payment fee (for first late payment) and has a $0 annual fee.

 

The Bad

Manual opt-ins to make the most of 5% cash back categories

Although the rotational 5% cash back categories are very popular among the ‘Discover it’ card members, it must be noted that you need to opt-in to the 5% bonus categories every quarter. Furthermore, the condition that you can avail 5% cash back on only up to $1500 spent in the pertinent category may not go down too well with the big ticket spenders.

Keeping track of categories may be difficult for many

As mentioned above, you need to activate the 5% bonus every quarter if you wish to make the most of this benefit. Once activated, you’ll need to keep track of the applicable categories for that quarter. This may not be feasible or convenient for a lot of cardholders.

Limited acceptability

Discover doesn’t enjoy the kind of acceptance that its main competitors – Visa and Mastercard do. It charges pretty hefty premiums to merchant establishments, the reason why they don’t go with Discover.

 

Final Word

If you’re looking for a card product that helps you maximize your cash-back benefits, Discover it, with its 5% and 1% cash back bonus, double-cash-back bonus at the end of the first year, Discover Deal benefits, $0 annual fee and attractive 0% intro APR is hard to overlook! On the other hand, if you want a credit card with quick cash back bonus, flat cash back rate and a wider choice of categories, you may be better off looking at other alternatives available in the marketplace.

 

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New Citi Double Cash Card Review

It’s getting more and more difficult to find credit cards that have no annual fee but offer you cash back rewards. Citi just introduced a new card that will give you 1% back on all of your purchases—with an added bonus of giving you another 1% when you make your payment. The Citi Double Cash credit card gives you all of the regular Citi benefits, plus the added 1% on your paid purchases. Here are some more of the details you might be interested in!

 

The Benefits

No Annual Fee!

The Citi Double Cash credit card has no annual fee, which makes it very attractive. All of the perks that are included are free!

0% Intro APR for 15 Months

Cardholders will enjoy a 0% APR for the first 15 months that they have the Citi Double Cash card. At the end of the introductory period, the APR will be 12.99-22.99%, depending on your credit worthiness.

No Spending or Earning Cap

Earn 1% for all of your purchases, with no spending limit.

Earn an Extra 1% 

As long as you make your monthly payments on time, you will earn an additional 1% on all of your purchase. You do not have to pay your balance in full each month, just make at least the minimum payment on time for this added bonus. Keep in mind that if you carry a balance and your introductory APR has expired, the interest that you end up paying will probably offset the additional 1% cash back and eliminate this bonus for you.

The bonus points will be based on the amount that you pay, not the purchases that you have made. Also, if you redeem your points for a statement credit, you will be reducing the amount you can potentially earn with the 1% bonus for payments, since you will ultimately be paying less toward your balance and cannot get bonus points for statement credits applied.

High Tech Protection

The Citi Double Cash credit card offers a nice security perk in the form of an EMV chip to protect you from fraud. It is rare to find a card with no annual fee that offers this level of security.

Citi Price Rewind Protection

If you are paying attention to sale prices, you can often find that an item you purchased can be found cheaper somewhere else. When you make the purchase using your Citi Double Cash card, you can be reimbursed for the difference in price for up to 60 days after you make the purchase. This can be significant when it comes to some big-ticket items. You can get up to $300 back, with a limit of $1,200 per year.

Other Perks

Citi offers Double Cash card holders their standard list of perks, including Purchase Protection (get a refund if an item is stolen or damaged within 120 days after purchase, 90 days in New York State). This perk applies to purchases up to $1,000. Purchases are also protected by an extended warranty for up to a year. Travel protection including auto rental insurance and trip cancellation insurance are available. Get access to presale tickets and preferred seating with any Citi card.

 

The Nitty Gritty

This card offers no annual fee. There is a 0% introductory APR for the first 15 months, with a 12.99-22.99% APR after that period ends. Balance transfer fees are 3% or $5, whichever is greater. Earn points for every purchase, and points for every dollar you pay toward your balance. Foreign transaction fees are 3%. You will need to have excellent credit to be approved for this credit card.

 

Conclusion

This card is a solid offering from Citibank. But, if you don’t pay your balance in full, then your rewards are really cancelled out. Also, there are some cards, including Discover it® and Chase Freedom that offer better cash back rewards (up to 5% in rotating categories) and you can usually build up a bigger balance this way. Don’t rule out this card, just shop around to make sure it really meets your needs.

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Discover it Chrome for Students Now Offers $20 Cashback Bonus!

Discover is well known for providing great benefits, especially when it comes to credit cards for students. The latest offering from Discover it Chrome for Students features a perk of a $20 cash back bonus, which is always going to be a welcome gift for any student! Here are some of the important highlights for the Discover it Chrome for Student offer that is now available.

Apply Now: Discover it® chrome for Students with $20 Cashback Bonus Offer

The Benefits

Get a $20 Cash Back Bonus!

Discover it Chrome for Students cardholders will get a perk of $20 cash back after making their first purchase within the first three months of having the card. More than enough for a pizza!

Redeem Rewards at Amazon.com

Discover it offers cardholders an extra cash back reward redemption offer, by allowing them to spend their cash back rewards at Amazon.com. Use cash back rewards just like cash, meaning every $1 is worth $1 when you make a purchase on Amazon.com.

Earn Great Cash Back Rewards

For the first $1,000 you spend on dining and gas stations (combined), for every quarter of the year, you will earn double points—meaning you earn 2% cash back for every dollar spent in these categories. Earn 1% for every dollar spent in any other category, with unlimited spending (up to your credit limit).

Keep Track of Your Credit Score

Discover customers have the advantage of knowing their credit score at any time. FICO scores are reported on every monthly statement, or customers can log into Discover.com to check their current credit score. This is a great benefit for students working at building their credit.

No Annual Fee

The Discover it Chrome Card for Students has no annual fee. All of these great perks are available at no extra charge to approved cardholders.

No Foreign Transaction Fee

In case you decide to do some traveling or studying abroad, Discover Chrome for Students has you covered! You can use your card without incurring any foreign transaction fees.

No Late Payment Fees

Discover does not charge late payment fees on your first late payment, nor do they charge any penalty APR for late payments. That’s showing some grace to students new to the credit card responsibility. Of course, we recommend never paying late! To help you with this, they even offer free text reminders of when your payment is due.

Outstanding Customer Service

One of the things Discover is best known for is their outstanding customer service. Customers have access to live customer service personnel, 24 hours a day, 7 days a week, to address any issues that should arise.

 

The Nitty Gritty

Just to review, the Discover it Chrome Card for Students offers no annual fee, no foreign transaction fee, no late payment penalty fee on your first late payment, no overlimit fee, and paying late won’t increase your APR. There is a 6-month introductory rate of 0% APR on purchases, and a competitive APR after the introductory period of 12.99-21.99%, depending on your credit history and the prime rate.

 

Conclusion

Discover it once again comes through with another great offer for cardholders, and this one is specifically geared toward the student market. Getting cash back on a student credit card is rare, and Discover certainly offers plenty of other perks to go with that!

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Limited Time Amex Simply Cash Sign-Up Offer

For a limited time, American Express is increasing the American Express SimplyCash offer. Cardholders who apply by February 24, 2015 will have some amazing benefits available to them. Usually this card doesn’t offer any sign-up bonus, so this is a big deal. Let’s take a look and see what the offer looks like.

Get a $250 Statement Bonus

Cardholders will receive a $250 statement credit after spending $5,000 during the first 6 months of having the card. This is a great deal, especially when added to the other great perks offered by this card.

No Annual Fee!

The American Express SimplyCash credit card currently  has no annual fee required to have the card.

Earn Cash Back Rewards

Cardholders will earn cash back rewards when they use this card. Cash back can be redeemed for statement credits, direct deposit, paper check and many different rewards including travel rewards. Cardholders will earn 5% cash back on all office supply stores and cell phone services, up to $25,000 spending per year. This equates to up to $1,250 cash back! Also, you will earn 1% cash back on all other purchases.

One of the unique things about the American Express SimplyCash credit card is that it offers you 3% cash back on the category of your choice, for up to $25,000 spending per year. This could mean up to another $750 cash back each year. Eligible categories include:

  • Airfare purchased directly from airlines
  • Hotel stays purchased directly from hotels
  • Car rental companies listed at americanexpress.com/rewards-info
  • Gas stations
  • Restaurants
  • Purchases for shipping
  • Purchases for advertising in select media

Bonus category spending must be in the United States, foreign transactions do not qualify for the extra 3% bonus cash back. There are also some other restrictions on the bonus cash back, so read the fine print carefully! One thing to know in advance is that you must designate your bonus cash back category within the first 1-2 months of having the card. If you do not select a category, the default category is gas stations. You will have an opportunity once per year (usually between December 1 and January 1) to change your bonus category.

 

Conclusion

This card is great for a cash back card, especially with no annual fee and up to 5% cash back. The foreign transaction fees are 2.7%, and you can’t earn bonus points on foreign transactions, so the card is not great for travel out of the United States. If you are interested in this deal, be sure to remember that it is only good until February 24, 2015 and you should act quickly to get the deal!

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The Chase Freedom Quarter 4 Spending Bonuses, 2014

Chase has announced its Quarter 4 spending bonuses for the Chase Freedom card. When you shop in these categories, you will earn 5% cash back on all of your purchases, up to a total of $1,500 in spending. This adds up to a bonus of up to $75, right in your pocket!

For the final quarter of 2014, beginning October 1 and running until December 31, 2014, you will earn the 5% bonus in the following categories: amazon.com, zappos.com and select department stores. Some of the department stores included are JC Penney, Kohl’s, Macy’s, Nordstrom and Sears. There are plenty more on the list, these are just the most popular choices. Get a head start on your holiday shopping and get your 5% cash back bonus.

Activate to Receive the 5% Bonus

You do have to activate in order to be able to earn the 5% cash back, but you have until December 14, 2014 to activate your account and be able to earn the bonus. You will earn the bonus retroactively to October 1, 2014 if you activate in time.

Unlimited Cash Back Bonuses on Purchases

With the Chase Freedom, you not only earn 5% cash back on the bonus categories, but you earn a steady 1% on all purchases in any category, year round. There is no spending limit, so take advantage of the bonus and let the cash back rewards add up! One of the greatest things about the Chase Freedom cash back rewards is that they never expire—but, why would you let them sit when there are so many great ways and great reasons to redeem them?

0% Introductory APR on Purchases and Balance Transfers

For the first 15 months after you are approved for the Chase Freedom card, you will enjoy a 0% APR on all purchases that you make using the card. You will also enjoy the same 0% APR on all balance transfers, making the Chase Freedom a great choice for paying off higher interest rate credit cards and getting caught up. After the initial 0% APR rate ends, you will pay 13.99-22.99%, depending on your credit history.

No Annual Fee!

One of the most attractive perks of the Chase Freedom credit card is that you will pay no annual fee, ever. You will enjoy all of the great perks, at no cost to you, all year long.

Bonus Cash Back After First Three Months!

Right now, new Chase Freedom card holders will get a $100 cash back bonus after spending only $500 during the first three months that they have the card. You can earn another $25 bonus for each authorized user that you add to the account during the first three months.

Conclusion

The Chase Freedom credit card is certainly a contender when it comes to cash back credit cards. With no annual fee, cash back rewards with bonus categories, and a great 0% introductory APR on purchases and balance transfers, this is one card you should take a closer look at!

Related posts:

Chase Freedom Review

Chase Freedom vs. Discover it

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The Discover it Quarter 4 Spending Bonuses, 2014

Each quarter, Discover offers bonus categories that allow you to earn 5% cash back on purchases using your Discover it®. This allows Discover customers to get great bonuses, by purchasing the things that they are most likely to need. Popular categories include groceries, gas stations, online shopping, department stores, dining and more. The spending bonuses for Quarter 4 are now announced!

Great Options for Year End Bonuses

With the Discover it®, customers will receive 5% cash back bonuses for online shopping purchases and department stores for the last quarter of 2014. This is great timing, since many people are just about to begin their holiday shopping sprees. From October 1 until December 31, 2014, earn 5% cash back on up to $1,500 in purchases made with your Discover card.

So, get ready to start earning terrific bonuses, especially if you enjoy shopping on Amazon.com, Walmart.com, Zappos.com, JC Penney’s, Macy’s or Kohl’s, just to name a few of the most popular retailers that are going to make you eligible for the bonus cash back reward.

Many Great Perks From Discover

Discover not only offers Discover it customers 5% cash back on bonus categories, but they offer 1% cash back on all other purchases. Online shopping opportunities are available through the Discover.com shopping portal, and customers can save 5-20% on their online purchases at many very popular retailers.

Cash back bonuses can be redeemed directly for purchases made on Amazon.com, making shopping as well as redeeming cash back even more convenient than ever!

There is no annual fee for the Discover it, making it a very attractive option for many.

Increased Security Features

Discover has made many advances when it comes to protecting your personal security. Purchases are monitored, and you are notified immediately anytime there is any suspicious activity. Cardholders are never held responsible for fraudulent transactions, as Discover offers a zero fraud liability policy.

Stay on Top of Your Credit Score

Don’t worry about registering for a credit monitoring service when you have a Discover card. Discover customers can easily view their credit score each month on their statements, or at any time by accessing their account online. This is a handy way to stay on top of any changes in your credit score, allowing you to make changes right away if you notice anything unusual. For those working on improving their credit, it is a great way to reinforce progress and watch the credit score rise.

Great Customer Service

One of the great things that Discover is well known for is terrific customer service. Real customer service personnel are easy to reach, 24 hours a day, 7 days a week, to handle any questions or concerns.

Conclusion

It’s no secret why Discover it is one of the most popular credit cards available. With solid perks and the ability to earn multiple points per dollar on your spending, you can’t go wrong with the Discover it.

Apply Now: Discover it®