Tag: no annual fee

Posted on by

Review of Wells Fargo Propel Card

Consumers looking for a rewards credit card that rewards loyalty without an annual fee might enjoy the Wells Fargo Propel American Express Card.  Existing Wells Fargo customers can also earn additional loyalty rewards by using the Propel credit card.  Travelers who like to redeem reward points for travel will also enjoy the opportunity respectable redemption rates with their Go Far Rewards program.

WF_Propel_RGB_Flat_no_shadow

There are two different Propel credit card offerings available, the Propel and the Propel 365.  This review will primarily focus on the first offering as it offers similar rewards without an annual fee.

Sign-Up Bonus

The Wells Fargo Propel does not offer any sign-up bonus in the form of bonus points, as other rewards credit cards do.  But, new users can enjoy a 0% introductory APR for the first 15 months on all purchases and balance transfers.

Travelers looking for a bonus point sign-up bonus have the opportunity to earn 3,000 Go Far Reward points and the $45 annual fee is also waived for the first year.

Purchase Rewards

The Wells Fargo Propel has a decent reward payouts for those that will use this credit card for an everyday purchase or tend to drive to most of their vacation destinations.

Cardholders will enjoy the following purchase reward rates:

  • 3 points for every dollar spent on gasoline
  • 2 points at U.S. restaurants
  • 1 points for all additional purchases

With a 3% rewards rate, Wells Fargo Propel is one of the best gas rewards credit cards available.  Before signing-up solely for this reward, you should know that gasoline purchased at warehouse clubs (Sam’s or Costco), supermarkets, or superstores will not earn the 3% bonus award.  This is a common term & condition regarding gas rewards for most gas rewards credit cards.

Loyal Wells Fargo banking customers that have a qualifying checking, savings account, or PMA account will earn an annual 10% relationship bonus on non-bonus reward points.  This simply means a 10% bonus on the 1 base point for every $1 spent on qualifying purchases.  So if you spend $10,000 in a year, you will be rewarded 1,000 bonus Go Far Reward points.

Travel Rewards

Other than gasoline & restaurants there is not the ability to earn bonus points on travel-related purchases.  But, it is possible to receive a discount on travel purchases.

  • 20% off best available rates at over 18,000 hotels
  • 25% off car rentals with the major car rental companies
  • Up to $100 off qualifying air & hotel packages
  • Discount cruise fares and up to $300 in shipboard credit

For those that prefer immediate cash discounts compared to earning and eventually redeeming reward points, these discounts might be worthwhile for the occasional traveler.

Wells Fargo Go Far Rewards

Although the Wells Fargo Propel is issued by American Express, it earns Wells Fargo Go Far Reward points instead of American Express Membership Reward points.  The points offer the best rates for when redeemed for gift cards and travel rewards with a 1% redemption ratio.  For example, a $25 gift card is worth 2,500 Go Far reward points.

Points redeemed for merchandise or statement credits have lower redemption ratios at 0.5% (5,000 points are worth $25) or lower.  The redemption ratio varies depending on the dollar value of the reward, typically the most valuable rewards can be redeemed at a better ratio.

Another thing to keep in mind is that Go Far reward points expire after 5 years from the earning date.

Additional Perks

Other benefits that Well Fargo Propel card holders can enjoy is complimentary access to their FICO score.  This is nice as it is the credit score pulled by the overwhelming majority of lenders compared to the “FAKO” scores offered by other credit agencies that offer a similar score but it still isn’t the “real McCoy.”

Fees and Other Important Information

The Wells Fargo Propel does not charge an annual fee (the Propel 365 is $45 annually after the first year).  After the introductory 15-month period of 0% APR, the interest rate rises to 13.24% to 25.24% depending on the individual creditworthiness of the cardmember.

The APR for cash advances ranges from 24.24% to 26.24% and there is no introductory period for this rate.

International travelers might want to consider a different credit card as there is a 3% foreign transaction fee.  As the Propel credit card is issued by American Express, it might be hard to find merchants outside major tourist destinations that will accept Amex as well.

Prospective applicants will also have to create a relationship with Wells Fargo before being able to qualify for the Propel credit card.  These applicants can apply for membership at their local Wells Fargo branch.

Who Can Benefit From Having the Wells Fargo Propel?

The Wells Fargo Propel isn’t a full-scale travel rewards credit and is more of a hybrid between a cash back credit card and a travel rewards card.  People looking to transfer an existing credit card balance stand to benefit the most from this card because of the 15-month 0% introductory rate and the opportunity to still earn purchase rewards.  Of course, new applicants probably will need a very good credit score (approximately 700+) to qualify for this card.

Other people who will benefit from this card are consumers that might “burn up the road” by driving a long distance to work or purchase gas several times per month.  The 3% gas rewards rate can be pretty awesome if you do not purchase gas at a warehouse club or grocery store.  Plus, it also offers rewards on other spending categories as well.  Other credit cards that are labeled as “gas reward credit cards” have reduced or eliminated the purchase rewards for non-gas purchases.

It might seem rather obvious, but, existing Wells Fargo customers should also strongly consider this credit card.  With no annual fee, it can make a great primary or secondary credit card that pays an annual point bonus and earns rewards on nearly every purchase.

Who Should Look Elsewhere?

Frequent fliers should consider other credit cards.  There are a plethora of travel rewards credit cards that pay at least 2% on hotel stays or plane tickets.  When used properly, the point bonuses can be more valuable than the cash discounts.  Other credit cards also offer travel portals that might offer discount prices and pay bonus payouts simultaneously.

Other people that should consider another credit card is somebody that is chasing reward points due to the lack of a sign-up bonus.  The redemption rates are similar to the American Express or Chase Rewards programs that also offer the best redemption rates for gift cards and travel rewards.  Even the current sign-up bonus of 3,000 points by upgrading to the Propel 365 doesn’t offset the $45 annual fee (which is waived during the first year).  Essentially Propel’s sign-up bonus only benefits those that plan to transfer the account balance from an existing credit card.

Summary

The 3-2-1 reward payout is competitive with most cash back and travel rewards credit cards.  If you plan to spend a lot in gas or restaurants, you can maximize the purchase reward benefits and do better than the industry purchase reward standard of 1% per $1 spent.

With no annual fee, this can be a great pairing for existing Wells Fargo customers and can serve as a great primary or secondary credit card for somebody that is looking for a credit card that will reward for everyday purchases.

 

 

 

 

 

 

Posted on by

Review of the no annual fee Capital One Venture Card

Finding the right travel rewards credit card fit for your specific needs and spending habits can be a challenge, especially given the onslaught of advertisements flooding the television and online. Capital One is arguably the leader in terms marketing efforts pushed out to the masses, with notable celebrity endorsements and amusing commercial spots. But all the pomp and circumstance surrounding a credit card does not always mean it is the best option for spenders. To help you determine if the Capital One VentureOne credit card is the one for you, we’ve cut through the fluff to bring you the clear upsides and downsides to the card. Here is our review of the no annual fee Capital One VentureOne credit card.

lg_capone-ventureone102114

 

VentureOne Card Basics

The VentureOne credit card offered by Capital One is a flat-rate travel rewards card. Card members earn 1.25 miles on every dollar spent, regardless of the category of purchase. Each rewards mile through Capital One is worth $0.01, and there is no cap on how many miles can be earned. Also, miles don’t expire, making this an attractive travel card for those who do some heavy spending.

Currently, Capital One is offering a bonus to new card members of the VentureOne card. A one-time 20,000 bonus – or $200 worth of miles – is credited to the card member’s account if at least $1,000 in purchases is made within the first three months after account opening. The combination of miles earned on everyday spending and the initial bonus potential makes the VentureOne card stand out among some of its travel credit card peers.

As a true travel rewards credit card, VentureOne card members are restricted in terms of how miles are redeemed. For now, accumulated miles can only be used as a statement credit toward travel-related purchases. As an example, a card member who purchases airfare on her Capital One VentureOne credit card could use her accumulated 20,000 miles – or $200 – to offset the total cost of her flight. What makes the VentureOne card unique is that there is no need to redeem miles through a dedicated travel site; instead, card members can book their travel how they see fit, directly through the provider or through a partner site. That means no blackout dates and no other pesky restrictions as seen with other travel rewards cards.

Miles cannot be exchanged for cash back or gift cards, nor can a statement credit be applied for anything other than a travel purchase. If you’re seeking out a travel credit card with more flexibility in terms of how miles can be redeemed, the VentureOne card may not be the best choice for you.

Capital One Perks

In addition to the rewards program, Capital One VentureOne card members have a slew of perks at their fingertips. The most notable is the Credit Tracker app, which provides access to the individual’s credit score and activity at no cost. Through Credit Tracker, card members can also gain valuable information regarding what implications changes to their credit profile will have on their score, for better or worse.

Card members also have access to online banking through Capital One, as well as mobile and tablet apps that are helpful for checking balances and payments on the go. In terms of enhanced security, VentureOne card members receive real-time alerts regarding suspicious or fraudulent activity on their account, either through phone, e-mail or text. On top of that, lost or stolen cards are covered by a $0 fraud liability protection program.

One of the unique features of the Capital One VentureOne credit card is the Second Look program, through which Capital One keeps an eye out for duplicate or unusual charges. Should a questionable charge post to the card member’s account, the bank automatically sends an e-mail alerting them to the issue. Capital One also offers Apply Pay for card members who are comfortable using mobile payment applications, as well as personalized payment due dates and various ways to establish payments. Card members have access to 24-hour travel assistance services, auto rental insurance, and travel accident insurance with the VentureOne credit card.

What the Card Costs

Capital One states that the VentureOne credit card is for individuals with excellent credit, typically meaning a credit score of 720 or higher is required for approval. Once approved, the interest rate for purchases starts at 0% and remains there for the first 12 months after accounting opening. Currently there are no promotional APR offers for balance transfers. After the promotional period ends, both purchases and balance transfer rates are based on individual creditworthiness, and will be 12.24%, 17.24% or 22.24%. Cash advance transactions carry a standard APR of 23.24%.

The VentureOne credit card does not assess an annual fee, nor does it carry any foreign transactions fees. From this perspective, the travel rewards card is relatively inexpensive. However, other fees are charged for specific transactions. Card members who initiate a cash advance pay a fee of either $10 or 3% of the amount advanced, whichever is greater. Late payment costs $35, although there are no fees for exceeding the credit limit.

The Final Word

The Capital One VentureOne credit card is a great choice for individuals seeking a travel rewards card that is simple to understand and easy to use. The VentureOne card comes with a flat-rate rewards program, meaning there are no special categories to keep track of over time. Additionally, card members have the ability to redeem rewards through statement credits for travel purchases, without the need to book travel directly through CapitalOne. The introductory APR for purchases, the additional card member perks, no annual fee and potential for bonus miles within the first three months come together to make this a solid travel rewards credit card.

Individuals who want to maximize on a sign-up bonus or who want to earn more miles with purchases may be better off with a different travel credit card. Capital One offers a travel credit card (Venture) that earns higher rewards and provides a sign-up bonus that is double that of the VentureOne card; however, card members who hold the Venture credit card are assessed an annual fee for access to greater rewards.

 

Posted on by

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.

 

 

 

Posted on by

eBay MasterCard Credit Card Review

Nearly every major retailer, hotel, and airline offers a credit card program that awards loyalty points on every purchase.  The eBay MasterCard, issued by Synchrony Bank, is one of the reward credit cards that can be used to make purchases anywhere MasterCard is accepted and redeem for PayPal cash, travel rewards, or gift cards.  This card is probably most ideal for frequent eBay & PayPal users but offers points on other purchases too.  But even faithful eBay & PayPal customers will want to read all the fine print on the eBay credit card website before signing up for this card as they might benefit from other credit cards instead.

eBay Credit Card Image

Sign-Up Bonus

Although a sign-up bonus shouldn’t be the primary reason anybody applies for a new credit card as annual fees & inferior reward payouts can outweigh the initial bonus, it might be the deciding factor if stuck between two or three different credit cards.

New credit card applicants will receive a $30 statement credit after making your first purchase with the new eBay credit card.  Although this isn’t the highest sign-up bonus offered by a points rewards credit card, it is very easy to obtain.  Certain credit cards require spending at least $700 to $2,000 to earn the sign-up bonus.  These bonuses have higher monetary values, but for somebody that just wants a second credit card to increase their credit limit will be pleased that they can earn a bonus without much hassle.

The eBay website often advertises the $30 bonus as a “time-sensitive offer” that typically ends at the end of each calendar quarter.  For example, the first quarter offer might expire on March 31st, 2nd quarter on June 30th, etc.  If you are signing up toward the end of the bonus period, as of this review you must sign-up for the bonus offer by June 30th and your first purchase must be posted before July 15th.

Those with existing eBay credit cards & new PayPal Smart Connect accounts are ineligible for this bonus.

Another “bonus” of the eBay Mastercard is that you can start using the new credit card number with PayPal before you even receive the new card in the mail.  This can be especially handy as it can take 7-10 days to receive your new credit card & might need it sooner to make a major purchase.

eBay Reward Points Accumulation

While most reward points credit cards offer the highest payouts for purchase made at the respective retailer’s stores or website (i.e. You earn two points for every United Airlines purchases but only one mile for all remaining purchases using the United MileagePlus Credit Card), the eBay credit actually offers more points for gas & restaurant purchases.

Here are the reward point payouts you can earn on every purchase using the eBay MasterCard:

  • Restaurant & Gas (Pay-At-The-Pump Only) Purchase: 3 points for every $1 spent
  • eBay & PayPal Purchase: 2 points for every $1 spent
  • All other purchases: 1 points per $1 spent

It is somewhat unusual that eBay pays more for restaurant & gas purchases than using their own commerce platforms, but the rewards point accumulation rates are similar to other retail credit cards regarding the tiered 3,2,1x points payout depending on the spending category.

Another downside is that cardholders will only be able to earn up to 50,000 points per year.  This might not be an issue for most people using this card as they will have to spend at least $16,667 (restaurant & gas purchases only) to reach the points cap.  Those who carry higher credit card balance can benefit from other rewards credit cards with more lucrative redemption rates & awards.

Redeeming eBay Reward Points

Similar to nearly every rewards credit card, reward points can be redeemed for awards in addition to PayPal credit.

Reward points can be redeemed for the following award categories:

  • $50 PayPal Cash (deposited in cardholder’s PayPal account)
  • Air Travel*
  • Hotel Awards*
  • Car Rental*
  • Vacation Awards*
  • Gift Cards and Merchandise

*Travel awards must be redeemed at least 21 days before the reservation is scheduled.

Redeeming award points are where the decision to determine if the eBay credit card is the best option for you becomes rather difficult.  This is mostly because no redemption amounts are published.  Many hotels and airlines will often publish the price of a ticket or stay and how many points can be redeemed if you do not want to spend cash.  If you routinely use a particular hotel or airline, it’s fairly easy to determine if the reward accumulation rates justify the redemption rates.

With the eBay credit card, it can be difficult to choose.  The reward program terms & conditions simply state that the cardholder must call a toll-free 1-800 number to determine how many rewards points are required for a particular award and to redeem the points.  It is understandable that award amounts often fluctuate for every credit card rewards program.  Although eBay does not disclose point minimum point values required to redeem for awards, existing card users on various forums have stated that the award redemptions begin at 2,500 points for a $15 restaurant gift card, 6,000 points for the $50 PayPal credit, and 15,400 points for a $100 travel voucher.  These are not the officially published rates provided by eBay and are subject to change.

With these redemption rates as a baseline, the eBay rewards program definitely isn’t the most robust as you will have to spend at least $2,000 (assuming 3% reward rate gas & restaurant purchases) to earn the 6,000 points necessary to redeem for $50 in PayPal cash so that amounts to a 2.5% redemption rate.  That redemption rate decreases if you need to rely on a combination of eBay/PayPal or other MasterCard purchases to reach the redemption requirements.  This is better than some cash back credit cards that only offer a 1% redemption rate, but other credit cards have better redemption rates.

The “Fine Print”

Reading the terms & conditions of the eBay Mastercard provides more pros & cons of the credit card.  A definite positive is that there is no annual fee.   Besides that, this is a no-frills credit card.  There is a 3% foreign transaction fee and interest rates range from 20.24% to 24.24%.  Those that need a cash advance will pay an interest rate of 27.24% plus a $5 or 3% fee, whichever is greater.

If you pay your balance off each month & rarely travel abroad, the interest rates & fees might be a non-issue.  If that is the case, the eBay MasterCard can be a good option for eBay & PayPal aficionados that are looking for a no annual fee credit card.  But, if they plan on redeeming reward points for something other than a $50 PayPal cash credit can find better rewards programs with other credit cards like the Discover It or Capital One Quicksilver credit cards.

Posted on by

American Express Everyday Cards

Credit cards are not only beneficial in covering some of life’s major, and at times unexpected expenses; revolving credit can also be used for managing spending on everyday items like groceries, gas or other monthly bills. For the most dedicated credit card users, finding a rewards card that offers low cost access to credit while also providing a method to earn bonus cash can be a bit cumbersome. The American Express Everyday credit card is a strong choice, however, for those looking for a simple rewards card with a slew of added perks.

AmexEveryDay

The Basics

American Express has a number of available credit cards for well-qualified applicants, the simplest being the Everyday credit card. As a rewards credit card, the American Express Everyday card allows cardholders the ability to earn two rewards points for each dollar spent at US supermarkets, and one rewards point for all other purchases. One rewards point equates to $0.01, so spending of $1,000 at supermarkets equates to $20, while the same amount spent on other purchases equates to $10 in rewards. As a bonus, card holders who utilize the American Express Everyday credit card 20 or more times within a single billing period can earn up to 20% more points on purchases. The double rewards accumulation is restricted to the first $6,000 in purchases made at supermarkets in any given year.

[post-card post=”7094″ title=”” style=”nw”]

For card members new to the American Express Everyday credit card, an additional rewards bonus is available for a limited time. An additional 25,000 points are added to the rewards balance after $2,000 or more is spent on purchases within the first three months of account opening. The bonus rewards point offer is only available for individuals who apply directly through the American Express website, and current and former American Express card members are ineligible for the promotion.

Rewards do require a minimum amount of 1,000 to accumulate before a cardholder can redeem them. The redemption options for American Express rewards are more robust than some comparable rewards cards, but direct cash-back is not an option. Instead, cardholders can transfer points to their Plenti card to use for savings a certain Plenti retailers. Additionally, certain charges on the cardholder’s statement may be eligible for rewards redemption each billing cycle. American Express makes it easy to see which charges qualify through its online portal. Cardholders also have the option to shop with points through Amazon, Ticketmaster and Telecharge. In some cases, rewards points may also be used toward Uber rides, or booking travel through the American Express Membership Rewards travel page. For those who prefer more flexibility in rewards redemption, points may be used to purchase gift cards from a number of partners through the American Express site.

Unique Perks

In addition to a bevy of rewards redemption options, new card members also have the opportunity to take advantage of a 0% APR introductory offer. For the first 12 billing cycles after account opening, purchases are not subject to interest charges. Balance transfers may also be eligible for a 0% APR for the first 12 months, but only when the transfer is requested within 30 days of account opening.

A number of unique perks come hand in hand with the American Express Everyday credit card, including the ability of card members to carry a balance month to month. Additionally, cardholders have access to the American Express Roadside Assistance Hotline which provides valuable help should transportation needs arise. Travel Accident Insurance is also available to card members, providing protection against financial loss in the midst of a travel emergency. The Global Assist Hotline is another added perk which provides help in the event something unexpected happens while traveling overseas.

American Express Everyday credit card members also have access to the following:

  • Car rental loss and damage insurance
  • Extended warranty on purchases
  • Accident and damage insurance on purchases
  • Return protection on purchases

Each additional benefit offered to cardholders may come with certain limitations and applicable terms that should be reviewed prior to using.

The Cost

The American Express Everyday credit card is a great fit for card members who want to steer clear of an annual fee since the card carries none. However, other fees and charges may apply as the card is utilized. While the introductory interest rate is an attractive offer for new card members, the standard APR ranges from 13.24% up to 23.24% based on credit history and score. It is important to note that the APR assigned is a variable rate, meaning it may fluctuate in line with broad interest rate markets over time. Balance transfer interest rates revert back to standard assigned rate as soon as the promotional period ends, and the cash advance interest rate is a universal 25.49% for all card members.

Certain transactional fees apply when the American Express Everyday credit card is used. A balance fee of the greater of $5 or 3% of the amount transferred is applied, whether the transfer is completed within the promotional period or not. Cash advance transactions also bear a $5 or 3% fee, whichever is greater. Foreign transaction fees also apply at a rate of 2.7% of the total purchase amount. Both late fees and returned payment fees are set at $37 per occurrence; however, there is no fee assessed for going over the credit limit.

The Verdict

The American Express Everyday credit card is a simple rewards card best fit for individuals who spend a substantial amount on groceries and supermarket purchases each year. The promotional balance transfer and purchase APR of 0% are attractive features for well-qualified cardholders, as it the lack of an annual fee for using the card.

However, individuals who are looking for a high earning rewards card may want to look elsewhere. The majority of purchases made with the American Express Everyday card receive just one reward point per dollar spent, which is relatively low when compared to other rewards cards. Additionally, individuals seeking out a rewards card with a cash-back option should look at comparable rewards cards, as American Express does not offer this perk. Overall, the Everyday credit card is a low-cost, simplistic rewards card best suited for those who spend heavily in a single category.

Posted on by

Card Comparison: Capital One® QuickSilver and Discover It® Cash Cards

Some credit cards can have a range of bonus points that can be used for flights, hotels, gift cards or the classic pay-with-points kitchen blender. Other credit cards give their rewards as cold hard cash. There is a wave of new credit cards that offer this benefit, and this article will compare two of the longest running and most popular cash-back cards: Capital One® QuickSilver and Discover It®.

 Capital One Quicksilver  Discover It

Getting Paid to Pay

Both credit cards have a cash back rewards system. As you spend money using your credit card, a certain percentage of the total spent is added to your cash back rewards balance. Upon your request or if you set up an automatic payment system, you will receive an account credit, a cheque or an electronic deposit for the money you racked up in your cash back account. The huge benefit is that this money is not tied to any certain online store or type of reward. The cash is yours to use however you like; you can buy boring but important groceries at the market, splurge on sweet new shoes online or even pay down your credit card balance with this cash.

The Capital One QuickSilver cash-back rewards system is simple: you receive 1.5% of everything you put on your card back as cash rewards. No matter what you use your card on, you will always receive 1.5% back. The Discover It card has a two-pronged rewards system. On certain, changing, categories, you can receive 5% cash back for purchases that fall within that category up to $1,500. On everything else, you receive 1% cash back.

If you are willing do your homework and track the categories, the Discover It card can reap big rewards with its 5% cash back rewards. The categories change seasonally, and currently, the 5% cash back is rewarded to purchases in restaurants and movies. The upcoming seasons will be home improvement stores and Amazon.com, followed by Amazon.com and more. Anything else will fall under the 1% reward that still provides a nice reward for your purchases. However, if you have no interest in tracking the categories or shifting your spending habits, the Capital One Quicksilver is a solid bet as you will get the slightly higher overall cash back rate.

First Time Perks

Both cards are offering first-time cardholders an appealing cash reward for your business. The Capital One Quicksilver card is currently offering $100 if you spend $500 on your card in the first three months. The Discover It card is offering to double all the cash back rewards you collect in the first 12 months of using the card. The quick math on these rewards shows that big spenders could fare well with the Discover It sign-up bonus, but a guaranteed bonus for smaller spenders (but who can still spend $500 in three months) is on the Quicksilver card. With the Quicksilver card, by putting your regular monthly spending on your credit card will get you $100 cash. However, for Discover It, you would have to spend $2,000 on the right categories at the 5% rewards level to earn $100 that can be doubled with this sign-up bonus. If you’re a big spender and follow the categories, you could earn lots with Discover It. A safer bet is Quicksilver’s $100 sign-up bonus.

The Fine Print: Annual Percentage Rates

As much fun as cash in the bank can be, the rates on your card are important considerations. Both cards offer the very appealing introductory annual percentage rate (APR) of 0%. Discover It offers this nice rate for the first year of your card contract. Capital One QuickSilver, however, only offers 0% until February 2017. After the 0% period, the Discover It APR can range from 11.24% to 23.24% while the Quicksilver APR can range from 13.24% to 23.24%. To compare APRs is difficult to do effectively as it will vary depending on your credit score. However, Discover It has a slight edge in this competition with its extended 0% APR period and a lower bottom end of the APR range.

Wondering how your credit score is doing? Discover It also provides a nice addition of your FICO® credit score on your account statement and online.

Annual Fees & Balance Transfers

Both cards tie when it comes to the annual fee to use the card: $0. The card pays you to use it, but you don’t have it pay for it, which seems to be a very nice arrangement.

Both cards also tie on a 3% balance transfer fee. If you are transferring a balance to your new card, remember that Discover It offers a longer 0% interest period than Quicksilver. The 0% APR applies to transferred balances, but Quicksilver’s ends in February 2017, but Discover It’s lasts for the first 12 months.

Travel, Card Recovery, and Other Benefits

Capital One Quicksilver comes with Visa Signature® benefits which include travel upgrades and savings, discounts at certain stores both online and offline, and other perks. If your card is lost or stolen, Discover It will overnight you a new one anywhere in the United States. Quicksilver does not provide a timeline other than “quick”, but they do provide the service worldwide. Neither card charges foreign transaction fees, and both include fraudulent activity protection.

This range of benefits is quite wide and someone difficult to compare, but Capital One Quicksilver comes out on top as there’s no equivalent for the Visa Signature benefits on the Discover It card.

Conclusion

 Both the Capital One Quicksilver and the Discover It cards are good options for a cash back card. Overall, the winner depends on what kind of cardholder you are. If you are a keen cardholder who tracks the big percentage categories or if you are someone who will keep a balance on their card for some time, Discover It is the card for you because the categories can provide big cash back rewards and the extended 0% APR period is a relief for a new or transferred balance. If you have no interest in tracking which categories are which season, if you’re not a big spender and you won’t carry a balance on your card, Capital One Quicksilver is a great pick as it provides a consistent 1.5% cash back with a $100 sign up bonus, but its 0% APR period is not as long. Either way, these cards will start paying you once you start paying with them.

 

Posted on by

US Bank Business Platinum Credit Card Review

Everyone loves a credit card.  But, with more and more credit cards coming out by the week (or at least it seems like that), which ones are worth it?  Which ones deserve to be in your wallet?  We have a new credit card to take a look at from US Bank this week, the US Bank Business Platinum Credit Card.  Let’s take a look below at some of the benefits and see if it’s worth our time!

 

Apply Now: U.S. Bank Business Platinum Visa® Card

 

Benefits

First off, the card is offering a 0% introductory APR for all purchases and balance transfers for the first twelve months of card membership.  This is a great way to pay off any large purchases you make over the first year you have this card.  But, be careful about your spending, because you’ll have a variable APR at the end of that first twelve months- anywhere between 9.99% and 17.99%, based on your credit worthiness.

There are no points or miles that can be earned with this card.  Rather, the card is connected in with Visa SavingsEdge, which can net your business up to a 15% discount on business purchases at name-brand merchants.  For example, you’ll save 1% at Texaco stations, 5% at La Quintas, the list goes on and on.  You can check out that list here.

So, that’s the bad news.  No points or miles earned for your business purchases.  But, there is no annual fee for the card, so if you pay your bills monthly, you won’t have any cost of card ownership.

In addition, this card offers up free employee cards for your business, which other cards often charge you for.  This could be a benefit for your small business, depending on the size of it.

Furthermore, you’ll have 24/7 customer service, bill pay online (but what card doesn’t these days) and access to something called Connect, which can give your small business ‘helpful information, tools and resources.’

Other than that, this credit card doesn’t have any other benefits.  Business credit cards, if you didn’t know, do not go on your ‘personal’ credit, but on your business’ credit.  That means, you can get a personal and a business credit card product, of the same brand, and not have any problems.

 

Conclusion

There are other business credit cards out there besides this one.  They offer up points, miles, more benefits for your business, and may not charge you a large fee to do so.  This card just doesn’t wow me.  The APR introductory offer is something, but there are other cards that offer the same thing!  Other than that, there are no discernible benefits to this card.

The SavingsEdge may save you money here and there, but nothing compared to a card that gets you 3%-5% back on office supply stores, or gas and groceries.  That said, if you are a US Bank loyalist and this card makes sense for you, by all means, apply away!

So, did you see something that I missed?  Do you think that the US Bank Platinum Business Credit Card is a more worthy card than I wrote?  Then let me know below in the comments!  I love healthy discourse!

Apply Now: U.S. Bank Business Platinum Visa® Card

Posted on by

U.S. Bank Visa Platinum Credit Card Review

U.S. Bank is now offering an amazing 15-month period with 0% APR as their latest introductory rate for the U.S. Bank Visa Platinum Card. Cardholders will pay no interest for a full 15 months on purchases and balance transfers. Add in the fact that there is no annual fee, and this card is an automatic front runner for many. Let’s take a look at some of the details, so that you can decide if this card is the right one for you

 

Apply Now: U.S. Bank Visa® Platinum Card

Extended Period of 0% APR

As mentioned above, you will get a 15-month promotional rate of 0% APR. This is on the longer end for today’s credit cards! Take advantage of this time to pay off your higher rate loans and get financially situated with less debt, while paying no interest. After the introductory period, you will pay an APR of 9.99-23.99%, depending on your credit. The lower range for this card is one of the lowest in the industry, so if you have excellent credit, you really stand to benefit from this option.

No Annual Fees

A card with no annual fees is automatically attractive and considered by many. Who wants to pay extra just to have a credit card? There are plenty of cards with no annual fees, and this one just entered the ring as a contender.

Convenient Online Banking and Card Access

U.S. Bank makes it very simple and convenient for you to pay your bills online, saving you time as well as money on postage. Plus, handling your business electronically definitely helps save you from too much clutter (and helps the environment, too!).

Stay on Top of Your Credit Score

U.S. Bank has an affiliation with Experian, one of the major credit bureaus. Each month on your statement, whether paper or electronic version, you will see your credit score displayed. This makes it simple to keep track of your credit score, and know it right away when you need to think about applying for a loan or financing.

Great Fraud Protection

With U.S. Bank, you are fully protected from fraud, and not held liable for any transactions made with your card if it reported lost or stolen. No worries! You are also quickly notified of any suspicious activity that occurs on your account, so that you can keep track of things carefully.

Get Auto Rental Insurance Automatically

Get auto rental insurance coverage at no cost when you use your U.S. Bank Visa Platinum card to pay for the rental. This certainly helps in the event that you encounter problems while traveling!

Any Downsides?

This card certainly is attractive with an extended 0% promotional period and no annual fees, but, there are no travel rewards, points, or cash back rewards. There are tons of cards on the market right now that offer more, but this one may be sufficient for you for many reasons. The lower APR after the promo period ends is also enticing if you tend to carry a balance and not pay off your card each month.

The Nitty Gritty

Just to summarize, this card offers 0% APR for the first 15 months on purchases and balance transfers, when the balance transfers are made within the first 30 days that you have the card. There is a 3% balance transfer fee during the first 30 days, which is upped to 4% after that period ends. Cash advances are not eligible for the promotional rate, and the APR for those is 23.99%.

Conclusion

This card is definitely a solid option for those looking for a great interest rate and a nice long 0% APR introductory rate, but, if you are looking for a card that offers cash back or travel rewards, then you might want to explore some of the other great options available!

 

Apply Now: U.S. Bank Visa® Platinum Card

Posted on by

Harley-Davidson Visa Credit Card Review

It’s time for Harley-Davidson lovers to get ready to rumble! U.S. Bank now offers the Harley-Davidson Visa credit card, a card geared specifically toward the type of customer who enjoys a sense of adventure and wants to earn great rewards and save some money on big purchases. Let’s take a look at some of the details for this card, so that you can decide whether or not it’s the right one for you.

Apply Now: Harley-Davidson® Visa® Credit Card

 

Benefits

No Annual Fee!

This is certainly one of the first things that people consider when they are choosing a credit card, and, with no annual fee, the Harley-Davidson Visa credit card is certainly looking pretty good. There are two versions of the card available, based on your creditworthiness. The Signature version has no annual fee, while the High Performance model of the card has an annual fee of $0-29, depending on your credit history and credit score.

Earn Rewards Quickly

When you have the Signature version of the Harley-Davidson Visa credit card, you will earn one point for every dollar you spend, with double points earned at gas stations, restaurants, bars and travel lodging. Earn TRIPLE points for any spending at a Harley-Davidson dealership. With no preset spending limit (though this does not actually mean unlimited spending—your credit history will determine how purchase approvals are made), you can certainly earn points quickly if you tend to buy expensive merchandise for your hog. The High Performance version earns 1 point for every dollar spent.

Great Harley-Davidson Redemption

Points can be redeemed for Harley-Davidson gift cards, which can be used for any Harley-Davidson merchandise, or put toward any purchase at a dealer. Points do expire in 3 years after the date they are issued, so it is important to keep track of what you have earned, so that you do not lose it.

Automatic Sweepstakes Entry

Just as a cardholder (no additional purchase necessary), you will be automatically entered in the Harley-Davidson Easy Ride Sweepstakes, with the chance to win amazing prizes.

$10 Bonus Chrome Cash Gift Card

Upon approval, you will receive a $10 bonus Chrome Cash gift card that you can use toward merchandise at any Harley-Davidson dealership.

 

The Nitty Gritty

To recap, there is no annual fee for the Signature version of the Harley-Davidson Visa card, and $0-29 annual fee for the High Performance version, depending on your creditworthiness. The APR for purchases and balance transfers will vary from 13.99-22.99%. There is a 3% fee on balance transfers, and a 3% cash advance transaction fee. Foreign transaction fees are 2% when using U.S. currency, and 3% when using foreign currency. Late payment fees of $35 will apply if your payment does not arrive on time. There is no overlimit fee.

 

Conclusion

While this may be a great card for those who really love Harley-Davidson and want to earn rewards with their for HD merchandise, and there is no annual fee (for the Signature version), there are more flexible redemption rewards cards that offer similar points earnings and also have a promotional 0% APR to help you save some dough. It’s all about comparing the benefits and deciding what works best for you. But if you’re a die hard Harley-Davidson fan, I’d say this is a great match for you!

 

Posted on by

No-Fee Barclays Arrival Card Adds New Benefits

There are many credit cards out there, but none have made a splash like the Barclaycard Arrival PlusTM World Elite MasterCard® products.  Their superior benefits are really something to behold!  And, now, for the no-free version of the credit card, it’s getting that much better!  Now, with the card, you’ll earn two points per dollar spent on travel and dining.  Let’s take a look and see what other benefits this card has to offer!

 

Benefits

New card members will earn 20,000 miles as a sign-up bonus when spending $1000 in the first 90 days of cardmembership.  In our analysis of other no-fee credit cards, this is a very nice bonus.  At a one cent per mile redemption rate, this translates to $200 in travel cash.

You’ll earn points every time you use the Barclaycard Arrival card as well.  On travel and dining purchases, you’ll now earn two miles per dollar.  And, unlike other credit cards, like the Chase Sapphire Preferred credit card, there are no caps on the bonuses.  You’ll also earn the standard one point per dollar spent in all non-bonus categories.

With the Barclay Arrival World MasterCard, there’s no annual fee.  Furthermore, for the first 12 months, the card will have 0% APR on purchases, which means you can spend to your heart’s content with impunity (just remember to pay the bill at the end!).  Afterwards, the APR will between 14.99% and 18.99%, depending on creditworthiness.

A fee-free credit card with no foreign transaction fees?  Sounds too good to be true, but this card will not charge you the 3% fee that other cards charge, incredibly important in our increasingly global economy.

A perk that really only these credit cards have is free TripIt Pro membership.  TripIt is a great service that I use to keep track of all the trips that I book months in advance.  In essence, the service pulls data from your e-mail automatically, organizing everything for you in an easy to access online account.  It’s sort of like a digital travel assistant.  Smart technology to make all of our frequent travels that much easier!

Pushing forward the value of the points even more, you’ll get a 10% points redemption bonus each time you use the points to travel.  When you use, say, 20,000 miles for a roundtrip ticket booked with your credit card, you’ll receive 2,000 points back.  But, while the “choose any airline, any time” model of points redemption works for many, there are other credit cards that allow for transfer partners, that you can then exploit sweet spots in award charts to further the value of your points.

 

Conclusion

There’s no doubt that the Barclaycard Arrival World credit card is a beast of a no-fee credit card.  The sign-up bonus is very nice, the flexibility of choosing the exact flight for your travel needs works for many, and miles will add up with 2X miles earned on travel and dining in that new category! So, does this card deserve to be in your wallet?  Apply today if you think so!