Posted by Tom Wilkins on Tue 23rd October 2007 at 09:17 AM, Filed in US Credit Cards
The GM Credit Card looks fairly ubiquitous but incorporates some nice features - the most prominent of which helps you gain savings on a new Vauxhall or Saab!
Other tasty tit bits include:
Read more...
An interesting article from WRAL.com asks the question:- “How rewarding are credit cards that promise rewards?”
It’s a very good question and in my experience the answer is that some are more rewarding than others.
This is backed up by Consumer Reports who have recently sized up credit-card reward programs and found some good ones. For example Blue Cash from American Express is thought to be among the best US based cash-back cards, although it’s patently not suited to everyone..
According to WRAL.com:
“Consumer Reports urges people to be aware that card companies offering 5 percent cash back on purchases usually have restrictions. The American Express Blue Cash card, for example, offers 5 percent back only after a cardholder has spent $6,500 at supermarkets, gas stations and other locations. Likewise, the Discover Open Road card gives 5 percent back on gas and car maintenance only for the first $1,200.”
Tobie Stanger of Consumer Reports advises that:
“It’s important to know the specifics of your card and keep an eye out for any changes in terms, also everybody must size up which card is best for them.
You have to understand the terms. The credit-card companies have become very creative, and the terms can be confusing.”
Tobie Stanger goes on to say:
“If you regularly carry a balance on your credit card, don’t even bother with these cards because the finance charges will eat up any rewards. But if you pay your balance every month, they can be great”.
The story is always the same. Pay your balance off at the end of the month…
According to CreditCards.com US Student Credit Cards charge whacking great annual percentage rates (APR’s) that top rates applied on other card categories.
Figures listed below:
Low Interest 11.41%
Balance Transfer 11.41%
Bad Credit 12.81%
Cash Back 13.13%
Reward 13.66%
Business 13.95%
Instant Approval 14.18%
Airline 15.08%
Student 17.88%
The problem is that fluctuations in the Fed’s prime rate is heaping further misery on student cardholders because a majority of banks base their credit card APRs on an index tied to the prime rate.
According to the U.S. central bank: “54% of credit card issuers tie card interest rates to prime.”
That’s a whole lot of misery for young students struggling to meet interest repayments.
It appears the world of credit cards is about to get the Hello Kitty Platinum Plus Visa. Feted as the first Hello Kitty credit card offered by Sanrio - this baby could be giving you financial help some time soon!
The Hello Kitty Platinum Plus is expected to offer usual reward points, but no air miles unfortunately!
Posted by Tom Wilkins on Mon 6th August 2007 at 06:00 AM, Filed in US Credit Cards
The Nest Credit Card from American Express incorporates a cool looking design. It almost looks a bit hippyish/psychedelic - maybe that was the intention!
Read more...
