Reward Credit Cards – Benefits and Detailed Descriptions

There are hundreds of new credit card offers available in the U.S market. The credit card companies compete against each other with attractive incentives such as cash back, points reward schemes and balance transfer offers at zero percent. There are lot of new offers have been introduced in U.S by worldwide banks. Among those new offers some credit cards are specially introduced as reward credit cards. Let see some good deals and their detailed descriptions.

Platinum Business FreedomPass Credit Card from OPEN(sm) the small business team: This card offers 5,000 point welcome bonus with first purchase and the card member can redeem the points for savings on any flight, hotel, car rental or cruise. There are no blackout dates and no travel restrictions. The card members will earn 1 point for every dollar they spend and provides option to pay over time or pay in full. There is no annual fee and 0% intro APR for 12 months. Provides OPEN Savings® like: Automatic discounts with FedEx, Delta®, Courtyard by Marriott®, and more.

BoatU.S.™ Platinum Plus® Visa® Card: This card offers 0% Intro Annual Percentage Rate (APR)on balance transfers and cash advance checks for the first 12 billing cycles. The card user can earn 1 point for every net retail purchase dollar spent and also he can redeem points for travel, merchandise, gift certificates, and cash. Provides Access to the MyConciergeSM service, a unique personal assistance service. There is absolute fraud protection against unauthorized use, online and offline. And there is no annual fee.

Discover® Motiva Card: This card has its own specific advantages like the card members can Pay-On-Time bonus equal to a full month’s interest each time they make 6 on-time payments in a row– twice a year, every year when they pay on-time every month. Provides 5% to 20% Cashback Bonus at top online retailers through the exclusive online site. The card member will earn up to 1% Cashback Bonus on all other purchases and unlimited cash rewards that never expire as long as the card member use the card. There is no annual fee.

The Knot Credit Card from American Express: This card provides start out with a great wedding gift – 5,000 Membership Rewards points the first time the card member use the Card, which can be redeemed for a gift card. The card member will earn an additional 10,000 bonus points when they spend over ,000 on the card annually. The card member can track all of their wedding related expenses with the Card on one monthly statement. There is no annual fee and the card member can pay the outstanding amount in over time or in full. The Intro APR is 12.24% and there is no intro period. Provides exclusive welcome gift that the card members can plan every detail of their wedding with The Knot Wedding Planning Kit, including the Knot wedding binder, where they can manage wedding ideas, budgets, guest lists, to-do’s and more.

Financial Rewards® Visa® Platinum Plus® Card: This card offers 0% Intro APR on purchases and balance transfers for the first 6 billing cycles. The card members will earn 5 bonus points with their first purchase and the earned points do not expire for 5 years. Provides online banking service and total security protection. There is no annual fee.

Blue from American Express®: This card offers Fee-Free Rewards Program and 0% APR for up to 15 months. There is no annual fee. Provides low balance transfer APR – 4.99% Fixed APR for the life of the balance. Actuallly Blue is named as the card members launch pad to standout shopping and entertainment rewards and one-of-a-kind experiences.

Citi® Upromise® Platinum Select® MasterCard®: This card offers the 0% Intro APR and the Intro period is 12 months. There is no annual fee. Helps the card members to join useful programs through which the card members can Helps families and save some money for college and its free to join. The card members will earn 10% college savings on many grocery and drug store purchases, 2% college savings on purchase of gas at Exxon and Mobil locations and 1% college savings on purchases everywhere you shop.

Citi® Home Rebate Platinum Select® MasterCard®: This card provides 0% Intro APR and the Intro period is 12 months. There is no annual fee. The card members will earn full 6% Rebate on Utilities, Cable/Satellite TV, Internet Connection, and Telecommunications for 6 months. The cardholders will get a statement credit instead to start saving for their dream house. Also provides full 1% on all other purchases and the rebate will automatically applied to the Cardholder’s Mortgage Principal. There are no cap or limits on the amount of rebates cardholders can accumulate in a Year.

Citi® Driver’s Edge® Platinum Select® Card: This card provides 0% Intro APR and the intro period is 12 months. There is no annual fee. The card members will earn rebates for every mile driven and the rebates can be applied towards car maintenance, or to buy or lease a new or used car. The card members will earn 6% rebates on Gas Station, Supermarket, and Drugstore Purchases for 12 Full Months, 3% Rebates after, and 1% Rebates on all other purchases. Rebates can also be applied to the Thank You Network.

Citi® Platinum Select®/AAdvantage® World MasterCard®: The Intro APR is 18.24% and there is no annual fee. The card members will earn 15,000 Bonus Miles after the first purchase. There are no blackout dates for award travel on American Airlines, American Eagle, and AmericanConnection® Carriers. The card members will earn one mile for every dollar spent on eligible purchases – Up To 100,000 miles per year and the earned miles may never expire. The card members can redeem miles with over 25 of the World’s Top Airlines, Major Car Rental Companies, and Hundreds of Hotels Worldwide.

Citi® Diamond Preferred® Rewards Card: This card provides 0% Intro APR and the intro period is 12 months . There is no annual fee. Provides Gift Card — Redeem 6,000 Bonus Points after first purchase and also provides 0% APR on balance transfers for twelve months. The card members will earn five bonus ThankYou Points for every dollar spent at Supermarkets, Drugstores and Gas Stations for 12 months and earn one bonus ThankYou Point for every dollar spent on all other purchases.

Citi® Hilton HHonors® Visa® Signature Card: This card offers 15,000 Hhonors Points with the very first purchase. The card members earn Double Dip® and receive both Hilton HHonors Points and Airline Miles for the same stay at Over 2,500 hotels and more than 55 participating airlines. The card members will earn three HHonors Bonus Points for every dollar spent using the card at Hilton Family Hotels, plus two HHonors Bonus Points for every dollar spent on other purchases. Provides complimentary silver VIP membership for the first year. There is no annual fee.

The Chase Business Cash Rewards Card: The card user will earn up to 5% cash back with unlimited rewards potential. There are no merchant or category spending restrictions, the card memeber can earn points by shopping wherever he want, for whatever he want. Provides 0% APR

on purchases and balance transfers for up to 12 months. There is no annual fee. The card user can opt for additional cards for his employees.

TripRewards® MasterCard® Credit Card: This card offers 0% introductory APR on balance transfers and cash advance checks for the first 12 billing cycles. The card member earn 2 points for every in net retail purchases and earn 13 points for every spent for qualifying TripRewards hotel stays. There is no annual fee. Provides 24-hour online access and Absolute Fraud Protection.

Advanta Platinum BusinessCard with Rewards: This card offers 0% Intro APR and intro period is 15 months. There is no annual fee. Provides 0% APR for 15 months on Balance Transfers, 7.99% fixed APR there after and 7.99% variable APR on purchases. The card members have their own choice of 5% Cash Back or Travel Rewards and there is no limit on earnings. Provides Fraud Liability. And the card members can get personalized card — their company name on the top of the card.

American Express® Preferred Rewards Gold Card: This card offers 0% Intro APR and there is no intro period. There is no annual fee for the first year and 5 there after. The card member get 10,000 Membership Rewards® points redeemable for rewards right away and there is no pre-set spending limit. Provides exclusive Gold Card events such as exclusive access to tickets for select concerts, shows, major sporting events, and more in cities nationwide. Global Assist® Plus Hotline and many more benefits included.

American Express® Preferred Rewards Green Card: This card offers 0% Intro APR and there is no intro period. The annual fee is free for the first year and there after. The card members will get 5,000 Bonus Membership Rewards® points redeemable for rewards right away. The membership rewards program also let them transfer points to 11 frequent flyer programs: 1 point = 1 frequent flyer mile or frequent guest credit for most programs. Global Assist® Plus Hotline allows the card members to travel with total peace of mind when they are more than 100 miles away from home. Provides many other travel and shopping benefits and there is no preset spending limit.

One from American Express®: The Intro APR is 14.24% and there is no intro period. The annual fee is free for the first year and there after. The card members never pay interest on new purchases and the Savings AcceleratorSM Plan contributes 1% of eligible purchases into an FDIC-insured High-Yield Savings Account in the card members name. Thereis no preset spending limit.

Bank of America Rewards™ American Express® Card: This Card offers 0% Intro Annual Percentage Rate (APR) on balance transfers and cash advance checks for the first 12 billing cycles. There is no annual fee and the flexibility to pay over time. The user can reedeem the points for travel with no blackout dates, discounts at hotels, cash, brand-name merchandise, or gift certificates. Earn one point for every net retail purchase dollar. The card user gets Access to special Cardmember offers from American Express to save on shopping, dining, travel, hotels, and much more. Provides free 24/7 Concierge Service.

Business Green Rewards Card from OPENSM The Small Business Team: The card member receives 5,000 bonus points to start. The annual fee is free for the first year and a savings. There are no preset spending limit or finance charges. The card members will earn One membership reward point for virtually every dollar they spend and discounts with FedEx, Delta®, Courtyard by Marriott®, and more. The card members can redeem their points for top-tier rewards including travel, merchandise, office equipment, and gift cards for them or for their employees.

Platinum Business FreedomPass® Credit Card: This card offer 0% Intro APR and the Intro period is for 6 months. There is no annual fee. The card member will earn 5000 bonus points with first purchase and redeem for savings on any flight, hotel, car rental or cruise. There are no blackout dates and no restrictions.

IN:CHICAGOSM Card from American Express®: This card offers 0% Intro APR and the intro period is 6 months. There is no annual fee. The card member will earn one INSIDESM Rewards point for virtually every eligible dollar they spend, whether they’re in Chicago or not. The earned points have no expiration date and the card members can redeem points for rewards in Chicago, New York and Los Angeles.

IN:LASM Card from American Express®: This card offers 0% Intro APR and the intro period is 6 months. There is no annual fee. The card member will earn one INSIDESM Rewards point for virtually every eligible dollar they spend, whether they’re in Los Angeles or not. The earned points have no expiration date and the card members can redeem points for rewards in Los Angeles, New York and Chicago.

IN:NYC® Card from American Express: This card offers 0% Intro APR and the intro period is 6 months. There is no annual fee. The card member will earn one INSIDESM Rewards point for virtually every eligible dollar they spend in New York city. The earned points have no expiration date and the card members can redeem points for rewards in New York. This card provides the option to carry balance.

Chase Flexible Rewards Platinum Visa® Card: This card offers 0% Intro APR and the intro period is 6 months. There is no annual fee. The card members will earn 1 point for every dollar spent and the card members can earn travel fast! that means all their purchases earn points for them. Also provides 0% introductory APR for up to 12 months on all purchases and balance transfers. The card member can save even more with low rates. The time period for the introductory APR and the balance transfers to which it will apply will be based on the review of the applicant’s application and credit history.

Chase Travel Plus Platinum Visa®: This card offers 0% Intro APR and the intro period is 6 months. The annual fee for this card is . The card members will earn 1 mile for every dollar in purchases and they redeem their points for flights, hotel stays, car rentals, cruises and more! Provides the option to choose from over 250 airlines without restrictions. Also provides 0% Introductory APR on purchases and balance transfers for up to 12 months. The time period for the introductory APR and the balances to which it will apply will be based on our review of your credit history.

Discover® More Sealife Card: This card offers 0% Intro APR and the Intro period is 12 months. There is no annual fee. Also provides 0% Intro APR for purchases and balance transfers for 12 months. The card members will earn 5% Cashback Bonus on Get More purchases in popular categories that change four times a year like home, apparel and more. Also earns up to 1% Cashback Bonus on all other purchases automatically. Provides unlimited cash rewards that never expire, fraud liability guarantee and easiest online account management options. The card members can double their Cashback Bonus (turn into ) when they redeem for gift cards or certificates from many of the 70 brand name partners.

Bank of America Visa Signature® with WorldPoints™: This card offers 0% APR and the Intro period is for 12 billing cycles. There is no annual fee. Also provides 0% APR on balance transfers and cash advance checks for the first 12 billing cycles. The card members will earn 1 point for every dollar they spend in net retail purchases.§ Points are redeemable for cash, brand name merchandise, travel with no blackout dates, dining certificates and more. Provides the advantage of preferred seating – Visa Signature Access gives the card members the exclusive entry to exciting events as well as the best seats at sports, entertainment, and cultural venues. The card members can reserve last-minute tables at popular restaurants – Visa Signature Dining makes it easy to get preferrred reservations, discounts, and special offers at the nation’s hottest restaurants. The card members also enjoy more savings and more extras – get discounts at select merchants, valuable upgrades, and savings of up to 50% on accommodations at spectacular places. Visa Signature Privileges make it possible. The card members receive personalized assistance – From hard-to-find gifts to travel and entertainment planning, let Visa Signature Concierge handle all the details. Provides absolute fraud protection.

Pet Rewards™ Visa®: This card offers 0% Intro APR and the Intro Period is Six Billing Cycles. There is no annual fee. Gives 500 bonus points after first purchase. 1 point for every dollar spend on everyday purchases and rewards begin at just 750 points. The card user can earn points toward veterinary services, pet food discount certificates, and shelter donations also earn two PetRewards Points for each dollar spend at participating veterinary clinics, pet food retailers, farm and feed stores, and neighborhood pet specialty stores.

2% Back MasterCard This card offers 0% Intro APR and the card members get 2% back on every purchase, everywhere – automatically! The card members can manage their account with 24/7 online access and bill pay and the card members can choose a payment due date that’s convenient for them. Provides 100% fraud liability protection and great built-in MasterCard benefits.

Discover® Business Miles Card: This card provides 0% Intro APR and the Intro period is 12 months. There is no annual fee. Provides 0% Intro APR on card purchases. The card user will earn Double Miles on travel and gas. The card member get up to 1 Mile per dollar on all other purchases. There are no restrictions on any airline, any date, any seat.

Chase Freedom Cash: This card offers 05 intro APR and the APR period is for 6 months. There is no annual fee. The card member can Earn 3% cash back for every eligible spent in purchases at Grocery Stores, Stock up on food, household goods and more. Also earn 3% cash back for gas station purchases such as using the card for fuel, repairs, car washes, and other purchases. The same 3% cash back offers also applicable for purchases at Quick Service Restaurants, the rewards add up fast from pizza to hamburgers to tacos – even sandwich shops, coffee houses and more. The card members earn 1% cash back for every spent in purchases everywhere else. The card members get a Check once they have earned in rewards. The card members can save up to 0 in rewards and redeem for 0 cash back.

Credit Cards Offering Air Miles-Which Ones Are They?

Air Miles is a rewards bonus that credit card companies give to consumers every time they book a flight using their credit cards. The way that the air miles are earned varies, also the way that the points or air miles are redeemed to free flights. These free flights are good for a person who wants to take an unplanned vacation and wants to maximize their budget. The air miles can also be used to upgrade flights.

Credit cards offering air miles can be regular bank credit cards and airline credit cards. The difference between the two is the way that the air miles are earned. Airline credit cards reward an air mile point for each dollar spent or charged on the airline card. While with bank credit cards, they consumer earns less than 5% cash back for every dollar earned.

After scouting around credit card websites, the one that got the best reviews is the Miles credit card by Discover Credit Cards. This credit card allows members to earn double points from travel and restaurant purchases. They also give an air mile point for every dollar spent on regular purchases. The card does not have any annual fees and has no blackout dates for earning air miles points. Also the air miles earned do not expire and they do not have a cap on how many air miles you can earn in a year. The card also gives a lot of options when redeeming the air miles points. It can be redeemed as an airline ticket, gift vouchers from their catalog or as cash. On comparison, they also offer a low interest rate and a balance transfer.

The other credit cards that got good reviews are the Starwood Preferred Guest Credit Card, Discover Open Road Credit Card and the Platinum Delta SkyMiles Credit Card by American Express. These credit cards give good air miles earnings to member. These credit cards have annual fees though, like for the Delta SkyMiles Credit Card by American Express that has a 0 annual fee. The Starwood Preferred Guest Credit card has its annual fees waived during the first year of membership and their rewards points can be redeemed as free hotel accommodations. There are other credit cards that offer air miles such as Citi banks’ Citi Premier Pass Card and Capital One No Hassle Miles Rewards card that also got good reviews. The only downside is that with these other credit cards, there were applicable annual fees and their interest rates were a bit higher than the Miles card by Discover. All credit cards also require applicants to have good credit standings in order to get their applications approved.

The air miles bonus is a great reward by these credit cards. But if you don’t travel a lot and will take time to earn the required air miles points to redeem a free flight, a low interest regular credit card will serve its purpose. Regular credit cards do offer cash back or rewards that consumers can enjoy.

Why Me? How To Understand Your Credit Card Limit Reduction

There are really no rules in place that stipulate why or what reasoning is being used by credit card companies to lower consumers’ credit limits on their accounts. Normally, the consumer has an idea why the card company has taken certain steps to limit their risk if the consumer had knowledge of a late payment or went over their credit limit, but now the only reason seems to be is that you are a credit cardholder with an outstanding balance.

Many consumers when receiving their monthly statement are finding their credit card limit has been reduced or their interest rate has been increased without warning. What is true and understood by most consumers is that once their credit limit is adjusted, it also may result in a change in their credit score.

Most consumers are asking how credit card issuers are making the decision to lower their credit limits especially if their credit score is over 720, they have never been late making their payments, they have not gone over their credit limit and they have no negative information in their credit report. The easy answer would be because of the current economic situation. However, there are other factors that will affect your credit card limits also.

First, every account has a statistical value based on usage. Credit card accounts paid in full or that are rarely used are of no value to a credit card company. There simply is no money in it for the company because the cardholder is not paying interest on a balance, there are no annual fees associated with the account and most importantly, these type of consumers are rarely accessed transaction fees when they do not follow the terms and conditions on their credit card account.

A second factor is risk quotient. Credit card companies now consider more heavily whether it is likely a customer will be delinquent on their account. Remember, your creditors pay the credit reporting agencies for your financial information. If a credit card issuer sees where you have defaulted on another credit card account, the credit card company in an effort to protect their financial interests will take the appropriate action to decrease their risk.

And last, you do not use enough of your credit line. Credit card companies are now reviewing your spending patterns and in some situations will reduce your credit limits accordingly. There is a term used for this practice, it is behavioral analysis where card companies evaluate where you spend your money and how much.

If you have not used your credit card in awhile it sends a red flag to your credit card company which could result in your card company reducing your credit limit or even closing your credit card account. Keep in mind that you are still responsible for any outstanding balance on your account and that your credit history with the company remains intact for review.

Granted, interest rate increases and dramatic reductions in credit limits can send consumers deeper into financial stress, rather than encouraging them to pay their bills. Credit card companies are focusing on reducing their risk, which means they will take the necessary measures against consumers so they are not left holding the bag.

If you pay on time and are never late, you may still be considered a risk. Currently, card issuers are reviewing your payment habits, credit score, and even where you shop to determine how likely you will be to default on your account and become a risk to them. In this economy, the banks definition of risk is changing which benefits them in more profit, but the consumer is hit again with higher payments, less spending power and nowhere to turn for help.

Should You Get A Bad Credit Credit Card

SHOULD YOU GET A BAD CREDIT CREDIT CARD?

One out of every four Americans has bad credit history. Any payment that you may have missed on your credit cards, mortgage or any other loans in your lifetime would have been recorded in your credit history and you’d be deemed as a risky business deal by anyone in the money-lending business.

In order to be eligible for a mortgage loan or a car loan which is required to live your daily life, a good credit history is almost necessary. If you are one of the four Americans with a bad credit history, you do not have to despair. Bad credit credit card could just be your solution.

Bad credit credit cards may also be referred to as Guaranteed Approval credit cards. Credit card companies issuing these type credit cards are not stringent about the credit history of applicants. This is because bad credit credit cards are usually secured credit cards. This means that the cardholder must deposit a sum of money as collateral with the bank issuing the bad credit credit card card to be approved for a card. The credit limit of the credit card is equal to, a percentage lower or higher than the money deposited. If you run into any problems with making your payments, the credit card issuer will take the payment from your deposit.

Now that you have an idea of how bad credit credit card works, let us look into answering the million dollar question – should you get one?

One good thing about bad credit credit cards is that you can avoid getting yourself into deep debts with them. This is because having a credit limit close to the sum of money deposited ensures that you only spend what you can afford. Now, isn’t that a great piece of news?

Besides being debt-free with a bad credit credit card, you can also repair a defective credit history. All you need to do is to make prompt payments and never go over the credit limit on the card for at least a year. Take this opportunity seriously and establish your reliability.

Although, these reasons may tempt you to sign up for one as soon as possible, there are a few more issues we need to deal with. Bad credit credit cards come with higher Annual Percentage Rate (APR) and costs compared to general credit cards. Hence ensure that you do the following:

Compare the bad credit credit cards in the market carefully. Choose one that offers you the lowest APR and costs. Read the terms and be aware of any hidden costs or unfavourable policies practised by the credit card issuer. Read up on reviews about the bad credit credit card and the issuing company that you are interested in. Pay off your card balance in full every month. Do not be contented paying the minimum payment. Never put yourself in a situation where you end up paying the exorbitant interests charged on your balance. If you do, the fine opportunity to stay debt-free will end up dragging you deeper into debt than ever before. Do not wait till the last day to make your payment. Pay well in advance to avoid the interest charges and late fees at all costs. Check that your credit card issuer reports to relevant credit bureaus. Not all of them do so. If your regular payments are not known to authorities, your hard work to re-establish your credit history will go unrecognized. Selecting a credit card issuer who reports to major credit bureaus is essential.

You should get a bad credit credit card only if you are 100% committed to the above mentioned approaches. You should be prepared to use the bad credit credit card responsibly to stay debt-free and rebuild your credit history. However, do not use a bad credit credit card for a period longer than necessary as it may adversely affect your credit history. Once you have practised discipline in using your credit card, built your confidence and proven yourself to be credit-worthy, move on to a general credit card. A bad credit credit card is often only a stepping stone.